0001356090-24-000026 | 10-Q | XBRL Viewer

Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows:


Balance at December 31, 2023	$	26,612
Impairment	(1,630)
Foreign currency translation adjustments	(64)
Balance at September 30, 2024	$	24,918

The Company had $26,503 and $24,873 of cumulative impairment losses as of September 30, 2024 and December 31, 2023, respectively.

During the second quarter of 2024, in connection with the suspension of ActoBio's operations, as discussed in Note 1, the Company determined the fair value of the ActoBio reporting unit was less than its carrying amount. As a result, the Company recorded a goodwill impairment charge of $1,630, which represented the full amount of goodwill associated with the ActoBio reporting unit.

Intangible assets consist of the following as of September 30, 2024:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	15,912	$	(11,139)	$	4,773

Intangible assets consist of the following as of December 31, 2023:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	82,501	$	(41,800)	$	40,701

During the second quarter of 2024 , in connection with the suspension of ActoBio's operations, the Company determined the fair value of ActoBio's certain developed technologies was less than their carrying amount. As a result, the Company recorded an impairment charge of $32,317, which is included in impairment of other noncurrent assets in the accompanying condensed consolidated statements of operations for the nine months ended September 30, 2024.

Amortization expenses were $318 and $1,217 for the three months ended September 30, 2024 and 2023, respectively, and $2,741 and $3,639 for the nine months ended September 30, 2024 and 2023

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 30, 2024, Helen Sabzevari, our Chief Executive Officer and director, Harry Thomasian, our Chief Financial Officer, Donald Lehr, our Chief Legal Officer, Rutul Shah, our Chief Operating Officer, and Phil Tennant, our Chief Commercial Officer, each adopted a trading plan intended to satisfy the conditions under Rule 10b5-1(c) of the Exchange Act. The trading plans provide for the sale, pursuant to a sell-to-cover instruction, of a number of shares of our common stock necessary to satisfy the executive’s tax withholding requirements upon the vesting of PSUs granted to each executive on August 28, 2024 in the following amounts: (i) Ms. Sabzevari, 1,650,000 PSUs; (ii) Mr. Thomasian, 250,000 PSUs; (iii) Mr. Lehr, 108,000 PSUs; (iv) Mr. Shah, 250,000 PSUs; and (v) Mr. Tennant, 50,000 PSUs. Under the terms of the PSUs, the PSUs will vest in two equal 50% installments upon the achievement of two specified operational milestones that occur during the period from the grant date to December 31, 2026 (the date of achievement of each milestone, a “Vesting Date”). Under the trading plans, the Company is authorized to direct the sale of shares upon the occurrence of a Vesting Date, and each plan will terminate 45 days after the last Vesting Date, unless terminated earlier in accordance with the terms of the trading plan. The latest possible termination date under the trading plans is February 14, 2027.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Harry Thomasian [Member]
Trading Arrangements, by Individual
Name	Harry Thomasian
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 30, 2024
Expiration Date	February 14, 2027
Arrangement Duration	867 days
Aggregate Available	250,000	250,000
Helen Sabzevari [Member]
Trading Arrangements, by Individual
Name	Helen Sabzevari
Title	Chief Executive Officer and director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 30, 2024
Expiration Date	February 14, 2027
Arrangement Duration	867 days
Aggregate Available	1,650,000	1,650,000
Phil Tennant [Member]
Trading Arrangements, by Individual
Name	Phil Tennant
Title	Chief Commercial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 30, 2024
Expiration Date	February 14, 2027
Arrangement Duration	867 days
Aggregate Available	50,000	50,000
Donald Lehr [Member]
Trading Arrangements, by Individual
Name	Donald Lehr
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 30, 2024
Expiration Date	February 14, 2027
Arrangement Duration	867 days
Aggregate Available	108,000	108,000
Rutul Shah [Member]
Trading Arrangements, by Individual
Name	Rutul Shah
Title	Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 30, 2024
Expiration Date	February 14, 2027
Arrangement Duration	867 days
Aggregate Available	250,000	250,000

Share-Based Payments - Schedule of Stock-Based Compensation Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 2,061	$ 2,306	$ 6,606	$ 7,626
Cost of products and services
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	10	20	29	55
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	558	579	2,005	1,666
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 1,493	$ 1,707	$ 4,572	$ 5,905

Operating Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 414
2025	1,556
2026	1,433
2027	1,285
2028	1,260
2029	1,295
Thereafter	553
Total	7,796
Present value adjustment	(2,047)
Total	5,749
Current portion of lease liabilities	988	$ 1,202
Long-term portion of operating lease liabilities	$ 4,761	$ 5,895

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total Shareholders' Equity
Beginning balance (in shares) at Dec. 31, 2022		208,150,021
Beginning balance at Dec. 31, 2022	$ 126,259	$ 0	$ 0	$ 1,998,314	$ (3,488)	$ (1,868,567)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022			0
Increase (Decrease) in Stockholders' Equity
Stock-based compensation expense	7,626			7,626
Shares issued upon vesting of restricted stock units and for exercises of stock options and warrants (in shares)		751,233
Shares issued upon vesting of restricted stock units and for exercises of stock options	0
Shares issued for accrued compensation (in shares)		3,068,825
Shares issued for accrued compensation	3,361			3,361
Shares issued as payment for services (in shares)		465,808
Shares issued as payment for services	545			545
Shares issued in public offering, net of issuance costs (in shares)		43,962,640
Shares issued in public offering, net of issuance costs	72,808			72,808
Net loss	(62,848)					(62,848)
Reclassification of cumulative translation adjustments to other income (expense), net	0
Other comprehensive income (loss)	(73)				(73)
Ending balance (in shares) at Sep. 30, 2023		256,398,527
Ending balance at Sep. 30, 2023	147,678	$ 0	$ 0	2,082,654	(3,561)	(1,931,415)
Treasury stock, ending balance (in shares) at Sep. 30, 2023			0
Beginning balance (in shares) at Jun. 30, 2023		255,482,753
Beginning balance at Jun. 30, 2023	166,210	$ 0	$ 0	2,080,348	(2,518)	(1,911,620)
Treasury stock, beginning balance (in shares) at Jun. 30, 2023			0
Increase (Decrease) in Stockholders' Equity
Stock-based compensation expense	2,306			2,306
Shares issued upon vesting of restricted stock units and for exercises of stock options and warrants (in shares)		53,418
Shares issued upon vesting of restricted stock units and for exercises of stock options	0
Shares issued for accrued compensation (in shares)		862,356
Shares issued for accrued compensation	0
Net loss	(19,795)					(19,795)
Reclassification of cumulative translation adjustments to other income (expense), net	0
Other comprehensive income (loss)	(1,043)				(1,043)
Ending balance (in shares) at Sep. 30, 2023		256,398,527
Ending balance at Sep. 30, 2023	$ 147,678	$ 0	$ 0	2,082,654	(3,561)	(1,931,415)
Treasury stock, ending balance (in shares) at Sep. 30, 2023			0
Beginning balance (in shares) at Dec. 31, 2023	248,919,096	248,919,096
Beginning balance at Dec. 31, 2023	$ 118,498	$ 0	$ 0	2,084,916	(1,947)	(1,964,471)
Treasury stock, beginning balance (in shares) at Dec. 31, 2023			7,479,431
Increase (Decrease) in Stockholders' Equity
Stock-based compensation expense	6,606			6,606
Shares issued upon vesting of restricted stock units and for exercises of stock options and warrants (in shares)		1,514,394	(1,514,394)
Shares issued upon vesting of restricted stock units and for exercises of stock options	346			346
Shares issued for accrued compensation (in shares)		2,170,885	(2,170,885)
Shares issued for accrued compensation	3,039			3,039
Shares issued as payment for services (in shares)		385,783	(385,783)
Shares issued as payment for services	553			553
Shares issued in public offering, net of issuance costs (in shares)		39,878,939	(3,408,369)
Shares issued in public offering, net of issuance costs	30,882			30,882
Net loss	(106,508)					(106,508)
Reclassification of cumulative translation adjustments to other income (expense), net	2,915				2,915
Other comprehensive income (loss)	$ (955)				(955)
Ending balance (in shares) at Sep. 30, 2024	292,869,097	292,869,097
Ending balance at Sep. 30, 2024	$ 55,376	$ 0	$ 0	2,126,342	13	(2,070,979)
Treasury stock, ending balance (in shares) at Sep. 30, 2024			0
Beginning balance (in shares) at Jun. 30, 2024		252,656,151
Beginning balance at Jun. 30, 2024	43,170	$ 0	$ 0	2,093,080	(2,909)	(2,047,001)
Treasury stock, beginning balance (in shares) at Jun. 30, 2024			3,742,376
Increase (Decrease) in Stockholders' Equity
Stock-based compensation expense	2,061			2,061
Shares issued upon vesting of restricted stock units and for exercises of stock options and warrants (in shares)		316,402	(316,402)
Shares issued upon vesting of restricted stock units and for exercises of stock options	294			294
Shares issued for accrued compensation (in shares)
Shares issued for accrued compensation	0
Shares issued as payment for services (in shares)		17,605	(17,605)
Shares issued as payment for services	25			25
Shares issued in public offering, net of issuance costs (in shares)		39,878,939	(3,408,369)
Shares issued in public offering, net of issuance costs	30,882			30,882
Net loss	(23,978)					(23,978)
Reclassification of cumulative translation adjustments to other income (expense), net	2,915				2,915		$ 2,915
Other comprehensive income (loss)	$ 7				7
Ending balance (in shares) at Sep. 30, 2024	292,869,097	292,869,097
Ending balance at Sep. 30, 2024	$ 55,376	$ 0	$ 0	$ 2,126,342	$ 13	$ (2,070,979)
Treasury stock, ending balance (in shares) at Sep. 30, 2024			0

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies In October 2020, several shareholder class action lawsuits were filed in the United States District Court for the Northern District of California on behalf of certain purchasers of the Company's common stock. The complaints name as defendants the Company and certain of its current and former officers. The plaintiffs' claims challenged disclosures about the MBP program from May 10, 2017 to March 1, 2019. In March 2021, the Court granted an order consolidating the claims and, in April 2021, appointed a lead plaintiff and lead counsel in the case, captioned In re Precigen Securities Litigation, Case No. 5:20-cv-06936-BLF (N.D. Cal.). On May 18, 2021, the lead plaintiff filed an Amended Class Action Complaint. On August 2, 2021, the defendants moved to dismiss the Amended Class Action Complaint. On September 27, 2021, the lead plaintiff filed a Second Amended Class Action Complaint in lieu of a response to the defendants’ motion to dismiss. On November 3, 2021, the defendants moved to dismiss the Second Amended Class Action Complaint and on May 31, 2022, the Court granted the defendants’ motion to dismiss the Second Amended Class Action Complaint with leave to amend. On August 1, 2022, the lead plaintiff filed a Third Amended Class Action Complaint. On August 2, 2022, the Court granted the parties' request to conduct a private mediation session to explore potential resolution of the action. On November 17, 2022, at the conclusion of the mediation session, the parties executed a memorandum of understanding that agreed in principle to resolve the claims asserted in the securities class action. The settlement provides for a payment to the plaintiff class of $13,000. As a result, the shareholder class action lawsuit was resolved. On November 6, 2023, the Court granted final approval of the settlement, dismissed the litigation with prejudice, and entered final judgment. As a result, the Company had no amounts recorded in settlement and indemnification accruals or an insurance receivable asset on the consolidated balance sheet as of September 30, 2024 and December 31, 2023, respectively. In December 2020, a derivative shareholder action, captioned Edward D. Wright, derivatively on behalf of Precigen, Inc. F/K/A Intrexon Corp. v. Alvarez et al, was filed in the Circuit Court for Fairfax County in Virginia on behalf of Precigen, Inc. asserting similar claims under state law against Precigen's current directors and certain officers. The plaintiff seeks damages, forfeiture of benefits received by defendants, and an award of reasonable attorneys' fees and costs. The case was stayed by an order entered on June 14, 2021. On September 24, 2021, an individual shareholder filed a lawsuit in the Circuit Court for Henrico County styled Kent v. Precigen, Inc., Case CL21-6349. The Kent action demands inspection of certain books and records of the Company pursuant to Virginia statutory and common law. On April 1, 2022, the Court denied the demurrer and referred the matter to a hearing on the merits. The Company intends to defend the lawsuits vigorously; however, there can be no assurances regarding the ultimate outcome of these lawsuits. In the course of its business, the Company is involved in litigation or legal matters, including governmental investigations. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. As of September 30, 2024, the Company does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company's business, financial condition, results of operations, or cash flows. Trans Ova As part of the Company's strategic shift to becoming a healthcare company, in August 2022, the Company completed the sale of 100% of the issued and outstanding membership interests in its wholly-owned subsidiary, Trans Ova, to Spring Bidco LLC (the “Buyer”), a Delaware limited liability company for $170,000 and up to $10,000 in cash earn-out payments contingent upon the performance of Trans Ova in each of 2022 and 2023, consisting of $5,000 for each year (the “Transaction”). In February 2023, the Buyer notified the Company that Trans Ova did not meet the financial measures required in 2022 in order to require the first $5,000 earn-out payment. In April 2024, the Buyer notified the Company that Trans Ova did not meet the financial measures required in 2023 in order to require the second $5,000 earn-out payment. The Company has disputed certain items reflected in the 2023 financial measures presented by the Buyer in the aforementioned notification. In connection with the Transaction, the Company is required to indemnify the Buyer for certain expenses incurred post close (related to covenants and certain additional specified liabilities including certain patent infringement lawsuits), if incurred, in amounts not to exceed $5,750. Such indemnification was recorded as a reduction of the gain on divestiture in the third quarter of 2023. As of September 30, 2024 and December 31, 2023, $3,213 and $5,750 were included in settlement and indemnification accruals on the condensed consolidated balance sheets, respectively, related to this indemnification liability. During the three months ended June 30, 2024, the Company paid an indemnification claim of $1,862 for expenses incurred by the buyer for the period from July 2023 to December 2023. In addition, during the three months ended September 30, 2023, the Company paid $675 for indemnification claims against this liability for the period from the date of sale to June 2023.

Share-Based Payments - Additional Information (Details)		3 Months Ended		9 Months Ended
Share-Based Payments - Additional Information (Details)	May 28, 2024 shares	Sep. 30, 2024 USD ($) installment milestones shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense \| $		$ 2,061,000	$ 2,306,000	$ 6,606,000	$ 7,626,000
Options outstanding (in shares)		26,857,820		26,857,820		22,057,340
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense \| $		$ 0		$ 0
Precigen Stock Option Plan 2023 Plan and 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)		18,418,137		18,418,137
Precigen Stock Option Plan 2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining shares available to grant (in shares)		7,043,856		7,043,856
Options outstanding (in shares)		6,023,521		6,023,521
Number of additional shares authorized (in shares)	2,000,000
Precigen Stock Option Plan 2023 Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding (in shares)		0		0
Precigen Stock Option Plan 2023 Plan \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU Granted (in shares)		2,978,000
Number of installments in which awards will vest \| installment		2
Number of milestones \| milestones		2
RSUs outstanding (in shares)		2,978,000		2,978,000
Precigen Stock Option Plan 2023 Plan \| Performance Shares \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50.00%
Precigen Stock Option Plan 2023 Plan \| Performance Shares \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50.00%
Precigen Stock Option Plan 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining shares available to grant (in shares)		0		0
Options outstanding (in shares)		17,148,251		17,148,251
Precigen Stock Option Plan 2013 Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding (in shares)		0		0
Precigen Stock Option Plan 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining shares available to grant (in shares)		2,448,058		2,448,058
Options outstanding (in shares)		3,686,048		3,686,048
Number of shares authorized for issuance (in shares)		12,000,000		12,000,000
Precigen Stock Option Plan 2019 Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding (in shares)		826,057		826,057

Operating Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Schedule of Components of Lease Costs

The components of lease costs were as follows:


	Three Months Ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Operating lease costs	$	337	$	621	$	1,555	$	1,853
Short-term lease costs	11		11		46		41
Variable lease costs	92		89		276		295
Lease costs	$	440	$	721	$	1,877	$	2,189

Other information related to operating leases in continuing operations was as follows:


	September 30, 2024		December 31, 2023
Weighted average remaining lease term (years)	4.99		5.39
Weighted average discount rate	11.6	%	11.2	%


	Nine Months Ended September 30,
	2024		2023
Supplemental disclosure of cash flow information
Cash paid for operating lease liabilities	$	1,903	$	1,769
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)	572		399

Schedule of Maturities of Lease Liabilities

As of September 30, 2024, maturities of lease liabilities, excluding short-term and variable leases, for continuing operations were as follows:


2024	$	414
2025	1,556
2026	1,433
2027	1,285
2028	1,260
2029	1,295
Thereafter	553
Total	$	7,796
Present value adjustment	(2,047)
Total	$	5,749
Current portion of operating lease liabilities	$	988
Long-term portion of operating lease liabilities	4,761
Total	$	5,749

Segments - Schedule of Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	$ (19,394)	$ (16,901)	$ (71,471)	$ (55,460)
Biopharmaceuticals
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	(19,235)	(16,437)	(70,629)	(55,034)
Exemplar
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	$ (159)	$ (464)	$ (842)	$ (426)

Shareholders' Equity

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Shareholders' Equity

Issuances of Precigen Common Stock

In January 2023, the Company closed a public offering of 43,962,640 shares of its common stock, resulting in net proceeds of $72,808, after deducting underwriting discounts, fees, and other offering expenses. Of the 43,962,640 shares, 11,517,712 shares were purchased by related parties and their affiliates, including the Company's Chief Executive Officer, its Chairman of the Board of Directors and his affiliates, and certain other of the Company's officers.

The Company completed the offering of shares of common stock, utilizing a number of underwriters, with J.P. Morgan Securities LLC acting as representative of the underwriters. The services provided by JP Morgan Securities LLC were in the ordinary course of their role as lead underwriter, for which they received customary fees and commissions.

In August 2024, the Company closed a public offering of 39,878,939 shares of its common stock, resulting in net proceeds to the Company of $30,882, after deducting underwriting discounts, fees, and other offering expenses. This included the sale of 4,584,821 shares of the Company’s common stock pursuant to the underwriter’s exercise of its option to purchase additional shares. Of the 39,878,939 shares, 23,588,234 shares were purchased by related parties and their affiliates, including the Company's Chairman of the Board of Directors and his affiliates, and one of the Company's executive officers.

Share Lending Agreement

Concurrently with the offering of the Convertible Notes, Precigen entered into a share lending agreement (the "Share Lending Agreement") with J.P. Morgan Securities LLC (the "Share Borrower") pursuant to which Precigen loaned and delivered 7,479,431 shares of its common stock (the "Borrowed Shares") to the Share Borrower. The Share Lending Agreement terminated on October 1, 2023, and the Borrowed Shares were returned to Precigen on October 5, 2023.

The Share Lending Agreement was entered into at fair value and met the requirements for equity classification. Therefore, the value is netted against the issuance of the Borrowed Shares in additional paid-in capital. Additionally, the Borrowed Shares are not included in the denominator for loss per share attributable to Precigen shareholders.

Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows:


	September 30, 2024		December 31, 2023
Unrealized gain (loss) on investments	$	13	$	(33)
Loss on foreign currency translation adjustments	—		(1,914)
Total accumulated other comprehensive loss	$	13	$	(1,947)

During the three and nine months ended September 30, 2024, the Company reclassified $2,915 of cumulative foreign translation losses associated with ActoBio upon final closing of our facilities during the quarter, which is included in other income (expenses) in the accompanying condensed consolidated statements of operations. These translation losses were previously recorded within accumulated other comprehensive income (loss).

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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+ Details

Collaboration and Licensing Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 2,439	$ 2,327
Current portion of deferred revenue	407	509
Long-term portion of deferred revenue	2,032	1,818
Prepaid product and service revenues
Deferred Revenue Arrangement [Line Items]
Deferred revenue	15	15
Other
Deferred Revenue Arrangement [Line Items]
Deferred revenue	606	494
Collaboration and licensing agreements
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 1,818	$ 1,818

Segments - Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	$ (19,394)	$ (16,901)	$ (71,471)	$ (55,460)
Other expenses:
Depreciation and amortization			(3,865)	(5,054)
Gain on disposals of assets			2	68
Stock-based compensation expense	(2,061)	(2,306)	(6,606)	(7,626)
Shares issue for payment of services	25		553	545
Other			0	(3)
Reclassification of cumulative translation losses	(2,915)	0	(2,915)	0
Consolidated loss before income taxes	(23,966)	(19,801)	(108,214)	(62,974)
Operating segments
Segment Reporting Information [Line Items]
Remove cash paid for capital expenditures, net of proceeds from sale of assets	822	175	7,496	430
Interest Income	283	856	1,210	2,316
Corporate And Reconciling Items
Other expenses:
Interest expense	(2)	(1)	(6)	(461)
Depreciation and amortization	(674)	(1,650)	(3,865)	(5,054)
Gain on disposals of assets	(1)	28	2	68
Impairment losses	0	0	(34,545)	0
Stock-based compensation expense	(2,061)	(2,306)	(6,606)	(7,626)
Adjustment related to accrued bonuses paid in equity awards	0	0	3,039	3,361
Shares issue for payment of services	(25)	0	(553)	(545)
Other	1	(2)	0	(3)
Reportable Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	(19,394)	(16,901)	(71,471)	(55,460)
All Other Segment Adjusted EBITDA
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA for reportable segments	$ 0	$ 0	$ 0	$ 0

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, plant and equipment consist of the following:


	September 30, 2024		December 31, 2023
Land and land improvements	$	164	$	164
Buildings and building improvements	2,629		2,629
Furniture and fixtures	364		530
Equipment	16,773		18,576
Leasehold improvements	4,475		4,380
Breeding stock	92		79
Computer hardware and software	3,190		3,459
Construction and other assets in progress	8,382		1,577
	36,069		31,394
Less: Accumulated depreciation and amortization	(22,531)		(24,283)
Property, plant and equipment, net	$	13,538	$	7,111

Depreciation expense was $356 and $434 for the three months ended September 30, 2024 and 2023, respectively, and $1,124 and $1,415 for the nine months ended September 30, 2024 and 2023, respectively.

As discussed in Note 1, during the second quarter of 2024, the Company suspended ActoBio's operations. As a result, the Company reviewed the related property, plant and equipment and right-of-use assets for impairment. Based on the estimated undiscounted cash flows, the Company determined that the related asset values were not fully recoverable and calculated estimated fair values using market participant assumptions. The estimated fair values were lower than the carrying values, and the Company recorded impairment losses of $110 related to property, plant, and equipment and $488 related to the right-of-use assets, which are included in impairment of other noncurrent assets in the accompanying condensed consolidated statements of operations for the nine months ended September 30, 2024

Shareholders' Equity - Schedule of Components of Accumulated Other Comprehensive Income (Loss) - (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss	$ 55,376	$ 43,170	$ 118,498	$ 147,678	$ 166,210	$ 126,259
Total accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss	13	$ (2,909)	(1,947)	$ (3,561)	$ (2,518)	$ (3,488)
Unrealized gain (loss) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss	13		(33)
Loss on foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss	$ 0		$ (1,914)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consist of the following:


	September 30, 2024		December 31, 2023
Land and land improvements	$	164	$	164
Buildings and building improvements	2,629		2,629
Furniture and fixtures	364		530
Equipment	16,773		18,576
Leasehold improvements	4,475		4,380
Breeding stock	92		79
Computer hardware and software	3,190		3,459
Construction and other assets in progress	8,382		1,577
	36,069		31,394
Less: Accumulated depreciation and amortization	(22,531)		(24,283)
Property, plant and equipment, net	$	13,538	$	7,111

Collaboration and Licensing Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Deferred Revenue

Deferred revenue consisted of the following:


	September 30, 2024		December 31, 2023
Collaboration and licensing agreements	$	1,818	$	1,818
Prepaid product and service revenues	15		15
Other	606		494
Total	$	2,439	$	2,327
Current portion of deferred revenue	$	407	$	509
Long-term portion of deferred revenue	2,032		1,818
Total	$	2,439	$	2,327

Organization	9 Months Ended
Organization	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Precigen, Inc. ("Precigen"), a Virginia corporation, is a dedicated discovery and clinical-stage biopharmaceutical company advancing the next generation of gene and cell therapies with the overall goal of improving outcomes for patients with significant unmet medical needs. Precigen is leveraging its proprietary technology platforms to develop product candidates designed to target urgent and intractable diseases in its core therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. Precigen’s primary operations are located in the State of Maryland. Precigen also has two wholly owned operating subsidiaries: Precigen ActoBio, Inc. ("ActoBio"), and Exemplar Genetics, LLC, doing business as Precigen Exemplar ("Exemplar"). Precigen and its consolidated subsidiaries are hereinafter referred to as the "Company." ActoBio utilizes a proprietary class of microbe-based biopharmaceuticals that enable expression and local delivery of disease-modifying therapeutics, with its primary operations located in Ghent, Belgium. As part of a continuing effort to strategically prioritize the application of resources to particular development efforts, during the second quarter of 2024, the Company initiated a shutdown of ActoBio's operations. This included the commencement of terminating leases and employees, and the disposition of certain of its assets and obligations with a focus on the preservation of ActoBio's intellectual property, which was completed during the third quarter of 2024. See Notes 6 and 7 for further discussion related to non-cash impairment charges recorded during the second quarter of 2024, and Note 10 for discussion of cumulative translation losses reclassified into operations in the third quarter of 2024 in relation to these activities. During the second quarter of 2024, the Company also recorded a charge related to employee severance and termination benefits of $2,100, paid during the third quarter of 2024, of which $1,700 is included in research and development expenses and $400 is included in selling, general and administrative expenses included in the accompanying condensed consolidated statement of operations for the nine months ended September 30, 2024. In addition to the actions taken at ActoBio noted above, in August 2024 the Company also began undertaking a strategic prioritization of its clinical portfolio and streamlining of its resources, including a reduction of over 20% of its workforce, to focus on potential commercialization of the PRGN-2012 AdenoVerse® gene therapy for the treatment of recurrent respiratory papillomatosis (RRP). These strategic changes are designed to reduce required resources for non-priority programs and enable the Company to focus on pre-commercialization efforts on PRGN-2012, including supporting the submission of a rolling biologics license application (BLA) under an accelerated approval pathway anticipated in the fourth quarter of 2024, conducting a confirmatory clinical trial, and manufacturing commercial product. Additionally, the Company will continue the acceleration of commercial readiness efforts for a potential launch in 2025. As a result of the actions taken related to the reduction in its workforce, the Company recorded a charge related to employee severance and termination benefits of $1,639, of which $594 is included in research and development expenses and $1,045 is included in selling, general and administrative expenses included in the accompanying condensed consolidated statement of operations for the three and nine months ended September 30, 2024. During the third quarter of 2024, $837 of the $1,639 charge was paid, leaving a liability of $802 as of September 30, 2024, which is included in accrued compensation and benefits on the condensed consolidated balance sheet. Exemplar is committed to enabling the study of life-threatening human diseases through the development of Yucatan MiniSwine preclinical research models and services. Exemplar’s primary operations are located in the State of Iowa.

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Total	$ 3,906	$ 55,277
Quoted Prices in Active Markets (Level 1)
Assets
Total	0	0
Significant Other Observable Inputs (Level 2)
Assets
Total	3,906	55,277
Significant Unobservable Inputs (Level 3)
Assets
Total	0	0
U.S. government debt securities
Assets
Total	2,951	51,671
U.S. government debt securities \| Quoted Prices in Active Markets (Level 1)
Assets
Total	0	0
U.S. government debt securities \| Significant Other Observable Inputs (Level 2)
Assets
Total	2,951	51,671
U.S. government debt securities \| Significant Unobservable Inputs (Level 3)
Assets
Total	0	0
Certificates of deposit
Assets
Total	955	3,361
Certificates of deposit \| Quoted Prices in Active Markets (Level 1)
Assets
Total	0	0
Certificates of deposit \| Significant Other Observable Inputs (Level 2)
Assets
Total	955	3,361
Certificates of deposit \| Significant Unobservable Inputs (Level 3)
Assets
Total	$ 0	0
Corporate bonds
Assets
Total		245
Corporate bonds \| Quoted Prices in Active Markets (Level 1)
Assets
Total		0
Corporate bonds \| Significant Other Observable Inputs (Level 2)
Assets
Total		245
Corporate bonds \| Significant Unobservable Inputs (Level 3)
Assets
Total		$ 0

Operating Leases - Schedule of Lease Terms and Discount Rates (Details)	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term (years)	4 years 11 months 26 days	5 years 4 months 20 days
Weighted average discount rate	11.60%	11.20%

Segments (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Information by Reportable Segment

Segment Adjusted EBITDA by reportable segment was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Biopharmaceuticals	$	(19,235)	$	(16,437)	$	(70,629)	$	(55,034)
Exemplar	(159)		(464)		(842)		(426)

Segment Adjusted EBITDA for reportable segments	$	(19,394)	$	(16,901)	$	(71,471)	$	(55,460)

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The table below reconciles Segment Adjusted EBITDA for reportable segments to consolidated net loss before income taxes:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Segment Adjusted EBITDA for reportable segments	$	(19,394)	$	(16,901)	$	(71,471)	$	(55,460)
All Other Segment Adjusted EBITDA	—		—		$	—	—
Remove cash paid for capital expenditures, net of proceeds from sale of assets	822		175		7,496		430
Interest Income	283		856		1,210		2,316

Other expenses:
Interest expense	(2)		(1)		(6)		(461)
Depreciation and amortization	(674)		(1,650)		(3,865)		(5,054)
Gain on disposals of assets	(1)		28		2		68
Impairment losses	—		—		(34,545)		—

Stock-based compensation expense	(2,061)		(2,306)		(6,606)		(7,626)
Adjustment related to accrued bonuses paid in equity awards	—		—		3,039		3,361


Shares issue for payment of services	(25)		—		(553)		(545)
Other	1		(2)		—		(3)
Reclassification of cumulative translation losses	(2,915)		—		$	(2,915)	—


Consolidated loss before income taxes	$	(23,966)	$	(19,801)	$	(108,214)	$	(62,974)

Short-term Investments - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Short-term and Long-term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 3,893	$ 55,310
Gross Unrealized Gains	13	103
Gross Unrealized Losses	0	(136)
Aggregate Fair Value	3,906	55,277
U.S. government debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,943	51,704
Gross Unrealized Gains	8	102
Gross Unrealized Losses	0	(135)
Aggregate Fair Value	2,951	51,671
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	950	3,361
Gross Unrealized Gains	5	1
Gross Unrealized Losses	0	(1)
Aggregate Fair Value	$ 955	3,361
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		245
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Aggregate Fair Value		$ 245

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Short-term Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Short-term and Long-term Investments

The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of September 30, 2024:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	2,943	$	8	$	—	$	2,951

Certificates of deposit	950		5		—		955

Total	$	3,893	$	13	$	—	$	3,906

The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of December 31, 2023:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	51,704	$	102	$	(135)	$	51,671
Certificates of deposit	3,361		1		(1)		3,361
Corporate bonds	245		—		—		245
Total	$	55,310	$	103	$	(136)	$	55,277

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Short-term Investments

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Short-term Investments

The Company's investments are classified as available-for-sale. The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of September 30, 2024:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	2,943	$	8	$	—	$	2,951

Certificates of deposit	950		5		—		955

Total	$	3,893	$	13	$	—	$	3,906

In addition, at September 30, 2024 and December 31, 2023, the Company held U.S. government debt securities valued at $17,425 and $1,502, respectively, which was included in cash and cash equivalents in the condensed consolidated balance sheet as these investments had an original maturity of less than three months when purchased.

The estimated fair value of available-for-sale investments was $3,906 as of September 30, 2024, and these available-for-sale investments all contractually mature within one year.

The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of December 31, 2023:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	51,704	$	102	$	(135)	$	51,671
Certificates of deposit	3,361		1		(1)		3,361
Corporate bonds	245		—		—		245
Total	$	55,310	$	103	$	(136)	$	55,277

Changes in market interest rates and bond yields cause certain investments to fall below their cost basis, resulting in unrealized losses on investments. The Company does not intend to sell these investments nor is it more likely than not that the Company will be required to sell these investments, prior to maturity or recovery of amortized cost.

Goodwill and Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows:


Balance at December 31, 2023	$	26,612
Impairment	(1,630)
Foreign currency translation adjustments	(64)
Balance at September 30, 2024	$	24,918

Schedule of Intangible Assets

Intangible assets consist of the following as of September 30, 2024:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	15,912	$	(11,139)	$	4,773

Intangible assets consist of the following as of December 31, 2023:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	82,501	$	(41,800)	$	40,701

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impaired, accumulated impairment loss	$ 26,503			$ 26,503		$ 24,873
Impairment		$ (1,630)		(1,630)	$ 0
Impairment of intangible assets		$ 32,317
Amortization expense	$ 318		$ 1,217	$ 2,741	$ 3,639

Operating Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease costs	$ 337	$ 621	$ 1,555	$ 1,853
Short-term lease costs	11	11	46	41
Variable lease costs	92	89	276	295
Lease costs	$ 440	$ 721	$ 1,877	$ 2,189

Segments

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segments

The Company's CODM assesses the operating performance of and allocates resources for several operating segments using Segment Adjusted EBITDA. Management believes this financial metric is a key indicator of operating results since it excludes noncash revenues and expenses that are not reflective of the underlying business performance of an individual enterprise. The Company defines Segment Adjusted EBITDA as net income (loss) before (i) interest expense and interest income, (ii) income tax expense or benefit, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) loss on settlement agreements where noncash consideration is paid, (vi) adjustments for accrued bonuses paid in equity awards, (vii) gain or loss on disposals of assets, (viii) loss on impairment of goodwill and other noncurrent assets, (ix) equity in net income loss of affiliates, (x) reclassification of cumulative translation gain (loss), and (xi) recognition of previously deferred revenue associated with upfront and milestone payments as well as cash outflows from capital expenditures and investments in affiliates, but includes proceeds from the sale of assets in the period sold. Segment Adjusted EBITDA excludes the gain or loss on disposals of assets and include proceeds from the sale of assets in the period sold.

Because the Company uses Segment Adjusted EBITDA as its primary measure of segment performance, it has included this measure in its discussion of segment operating results. The Company has also disclosed revenues from external customers and intersegment revenues for each reportable segment. The CODM does not use total assets by segment to evaluate segment performance or allocate resources, and accordingly, these amounts are not required to be disclosed.

For the three and nine months ended September 30, 2024, the Company's reportable segments were (i) Biopharmaceuticals and (ii) Exemplar. These identified reportable segments met the quantitative thresholds to be reported separately for the nine months ended September 30, 2024. See Note 1 for a description of Biopharmaceuticals and Exemplar.

Segment Adjusted EBITDA by reportable segment was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Biopharmaceuticals	$	(19,235)	$	(16,437)	$	(70,629)	$	(55,034)
Exemplar	(159)		(464)		(842)		(426)

Segment Adjusted EBITDA for reportable segments	$	(19,394)	$	(16,901)	$	(71,471)	$	(55,460)

The table below reconciles Segment Adjusted EBITDA for reportable segments to consolidated net loss before income taxes:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Segment Adjusted EBITDA for reportable segments	$	(19,394)	$	(16,901)	$	(71,471)	$	(55,460)
All Other Segment Adjusted EBITDA	—		—		$	—	—
Remove cash paid for capital expenditures, net of proceeds from sale of assets	822		175		7,496		430
Interest Income	283		856		1,210		2,316

Other expenses:
Interest expense	(2)		(1)		(6)		(461)
Depreciation and amortization	(674)		(1,650)		(3,865)		(5,054)
Gain on disposals of assets	(1)		28		2		68
Impairment losses	—		—		(34,545)		—

Stock-based compensation expense	(2,061)		(2,306)		(6,606)		(7,626)
Adjustment related to accrued bonuses paid in equity awards	—		—		3,039		3,361


Shares issue for payment of services	(25)		—		(553)		(545)
Other	1		(2)		—		(3)
Reclassification of cumulative translation losses	(2,915)		—		$	(2,915)	—


Consolidated loss before income taxes	$	(23,966)	$	(19,801)	$	(108,214)	$	(62,974)

Revenues from external customers in the Exemplar segment consisted of $953 and $1,379 for the three months ended September 30, 2024 and 2023, respectively, and $2,735 and $4,997 for the nine months ended September 30, 2024 and 2023, respectively.

Total segment revenues from reportable segments equal total consolidated revenues on the condensed consolidated statements of operations.

For the three months ended September 30, 2024 and 2023, 63.0% and 78.7%, respectively, of total consolidated revenue was attributable to four customers in 2024 and four customer in 2023 in the Exemplar segment. For the nine months ended September 30, 2024 and 2023 63.4% and 78.2%, respectively, of total consolidated revenue was attributed to four customers in 2024 and four in 2023, in the Exemplar segment.

As of September 30, 2024 and December 31, 2023, the Company had $0 and $1,958, respectively, of long-lived assets in foreign countries. There were no revenues derived in foreign countries for any periods presented.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Shareholders' equity
Accounts receivable allowance for credit losses	$ 0	$ 184
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	292,869,097	256,398,527
Common stock, shares outstanding (in shares)	292,869,097	248,919,096

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ (12)	$ 6	$ 1,706	$ 126

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating Expenses
Impairment of goodwill			$ 1,630	$ 0
Impairment of other noncurrent assets			32,915	0
Other Income (Expense), Net
Loss before income taxes	$ (23,966)	$ (19,801)	(108,214)	(62,974)
Income tax benefit (expense)	(12)	6	1,706	126
Net loss	$ (23,978)	$ (19,795)	$ (106,508)	$ (62,848)
Net loss per share
Net loss per share, basic (in dollars per share)	$ (0.09)	$ (0.08)	$ (0.41)	$ (0.26)
Net loss per share, diluted (in dollars per share)	$ (0.09)	$ (0.08)	$ (0.41)	$ (0.26)
Weighted average shares outstanding, basic (in shares)	275,881,170	248,520,724	259,254,775	243,075,262
Weighted average shares outstanding, diluted (in shares)	275,881,170	248,520,724	259,254,775	243,075,262
Continuing Operations
Revenues
Total revenues	$ 953	$ 1,379	$ 2,735	$ 4,997
Operating Expenses
Research and development	11,370	11,583	41,312	35,620
Selling, general and administrative	9,836	9,196	30,293	30,150
Impairment of goodwill	0	0	1,630	0
Impairment of other noncurrent assets	0	0	32,915	0
Total operating expenses	22,215	22,316	109,248	70,531
Operating loss	(21,262)	(20,937)	(106,513)	(65,534)
Other Income (Expense), Net
Interest expense	(2)	(1)	(6)	(461)
Interest income	283	856	1,210	2,316
Other income (expense), net	(2,985)	281	(2,905)	705
Total other income (expense), net	(2,704)	1,136	(1,701)	2,560
Loss before income taxes	(23,966)	(19,801)	(108,214)	(62,974)
Income tax benefit (expense)	(12)	6	1,706	126
Continuing Operations \| Product revenues
Revenues
Total revenues	66	82	235	730
Continuing Operations \| Service revenues
Revenues
Total revenues	886	1,296	2,478	4,261
Operating Expenses
Cost of products and services	1,009	1,537	3,098	4,761
Continuing Operations \| Other revenues
Revenues
Total revenues	$ 1	$ 1	$ 22	$ 6

Goodwill and Intangible Assets, Net - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Goodwill
Beginning balance		$ 26,612
Impairment	$ (1,630)	(1,630)	$ 0
Foreign currency translation adjustments		(64)
Ending balance		$ 24,918

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows:


	September 30, 2024		December 31, 2023
Unrealized gain (loss) on investments	$	13	$	(33)
Loss on foreign currency translation adjustments	—		(1,914)
Total accumulated other comprehensive loss	$	13	$	(1,947)

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended
Commitments and Contingencies (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 17, 2022	Aug. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Insurance settlements receivable			$ 0		$ 0
Settlement and indemnification accruals decrease			1,862,000	$ 675,000
Discontinued Operations, Held-for-sale \| Trans Ova
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, ownership interest disposed of							100.00%
Consideration							$ 170,000,000
Disposal group, including discontinued operation, earn-out payments, range of outcomes, value high							10,000,000
Disposal group, including discontinued operation, indemnification claim			3,213,000		$ 5,750,000
Disposal group, including discontinued operation, indemnification claim paid	$ 1,862,000
Settlement and indemnification accruals decrease		$ 675,000
Discontinued Operations, Held-for-sale \| Trans Ova \| Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, earn-out payments							$ 5,000,000
Disposal group, including discontinued operation, reimbursement limit			$ 5,750,000
Precigen Securities Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss contingency accrual						$ 13,000,000

Summary of Significant Accounting Policies - Liquidity and Going Concern - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Net income (loss) attributable to parent		$ (23,978)	$ (19,795)	$ (106,508)	$ (62,848)
Net cash used in operating activities				(59,930)	$ (51,164)
Accumulated deficit		2,070,979		2,070,979		$ 1,964,471
Proceeds from issuance initial public offering	$ 30,882
Cash, cash equivalents, and short-term investments		$ 28,631		$ 28,631

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-SubTopic 220
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Debt (Details) - USD ($)	9 Months Ended
Debt (Details) - USD ($)	Sep. 30, 2023	Oct. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Jul. 31, 2018
3.5% Convertible Notes Due 2023
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 200,000,000
Interest expense, debt, excluding amortization	$ 397,000
Interest expense, debt , amortization of debt discount (premium) and debt issuance costs	$ 60,000
Revolving Line of Credit \| Exemplar Genetics, LLC
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 5,000,000
Debt instrument, interest rate, stated percentage			8.50%
Line of credit facility, outstanding balance			$ 0	$ 0
Revolving Line of Credit \| Exemplar Genetics, LLC \| Subsequent Event
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 5,000,000
Debt instrument, interest rate, stated percentage		8.00%

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36042
Entity Registrant Name	PRECIGEN, INC.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	26-0084895
Entity Address, Address Line One	20374 Seneca Meadows Parkway
Entity Address, City or Town	Germantown,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20876
City Area Code	301
Local Phone Number	556-9900
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	PGEN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		292,869,097
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001356090
Current Fiscal Year End Date	--12-31

Operating Leases

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Operating Leases

The Company leases certain facilities and equipment under operating leases. Leases with a lease term of twelve months or less are considered short-term leases and are not recorded on the balance sheet, and expense for these leases is recognized over the term of the lease. All other leases have remaining terms of one to six years, some of which may include options to extend the lease and some of which may include options to terminate the lease within one year. The Company uses judgment to determine whether it is reasonably possible to extend the lease beyond the initial term or terminate before the initial term ends and the length of the possible extension or early termination. The leases are renewable at the option of the Company and do not contain residual value guarantees, covenants, or other restrictions.

The components of lease costs were as follows:


	Three Months Ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Operating lease costs	$	337	$	621	$	1,555	$	1,853
Short-term lease costs	11		11		46		41
Variable lease costs	92		89		276		295
Lease costs	$	440	$	721	$	1,877	$	2,189

As of September 30, 2024, maturities of lease liabilities, excluding short-term and variable leases, for continuing operations were as follows:


2024	$	414
2025	1,556
2026	1,433
2027	1,285
2028	1,260
2029	1,295
Thereafter	553
Total	$	7,796
Present value adjustment	(2,047)
Total	$	5,749
Current portion of operating lease liabilities	$	988
Long-term portion of operating lease liabilities	4,761
Total	$	5,749

Other information related to operating leases in continuing operations was as follows:


	September 30, 2024		December 31, 2023
Weighted average remaining lease term (years)	4.99		5.39
Weighted average discount rate	11.6	%	11.2	%


	Nine Months Ended September 30,
	2024		2023
Supplemental disclosure of cash flow information
Cash paid for operating lease liabilities	$	1,903	$	1,769
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)	572		399

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Lines of Credit Exemplar has a $5,000 revolving line of credit with a bank that was to mature on November 1, 2024. As of September 30, 2024, the line of credit bore interest at a stated rate of 8.50% per annum. As of September 30, 2024 and December 31, 2023, there was no outstanding balance on the line of credit. On October 31, 2024, the Company entered into a new $5,000 revolving line of credit, which bears interest of 8.0% per annum and matures on November 1, 2025. Convertible Notes In July 2018, Precigen completed a registered underwritten public offering of $200,000 aggregate principal amount of Convertible Notes and issued the Convertible Notes under an indenture between Precigen and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by the First Supplemental Indenture. The Convertible Notes matured on July 1, 2023, although certain notes were repurchased prior to their maturity beginning in third quarter of 2022. On June 30, 2023, the Company repurchased all remaining outstanding Convertible Notes at par plus accrued interest. The components of interest expense in 2023 related to the Convertible Notes were $397 of cash interest expense and $60 of non-cash interest expense for the nine months ended September 30, 2023

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (23,978)	$ (19,795)	$ (106,508)	$ (62,848)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Share-Based Payments - Schedule of Stock Option Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Number of Shares
Balances at beginning of period (in shares)	22,057,340
Granted (in shares)	7,230,174
Exercised (in shares)	(265,448)
Forfeited (in shares)	(1,027,459)
Expired (in shares)	(1,136,787)
Balances at end of period (in shares)	26,857,820	22,057,340
Exercisable at end of period (in shares)	15,508,975
Weighted Average Exercise Price
Balances at beginning of period (in dollars per share)	$ 6.90
Granted (in dollars per share)	1.41
Exercised (in dollars per share)	1.30
Forfeited (in dollars per share)	1.82
Expired (in dollars per share)	16.74
Balances at period end (in dollars per share)	9.66	$ 6.90
Exercisable, weighted average exercise price, at end of period (in dollars per share)	$ 7.91
Weighted Average Remaining Contractual Term (Years)
Balances, weighted average remaining contractual period	7 years 3 months 7 days	7 years 1 month 13 days
Exercisable at period end, weighted average remaining contractual period	6 years 14 days

Segments - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Segments - Additional Information (Details)	Sep. 30, 2024 USD ($) customer	Sep. 30, 2023 USD ($) customer	Sep. 30, 2024 USD ($) customer	Sep. 30, 2023 USD ($) customer	Dec. 31, 2023 USD ($)
Non-US
Segment Reporting Information [Line Items]
Long-lived assets, including property, plant, and equipment and right of use assets	$ 0		$ 0		$ 1,958,000
Revenues			$ 0		$ 0
Exemplar
Segment Reporting Information [Line Items]
Percentage of revenue attributable to customer	63.00%	78.70%	63.40%	78.20%
Number of customers \| customer	4	4	4	4
Operating segments \| Exemplar
Segment Reporting Information [Line Items]
Total revenues	$ 953,000	$ 1,379,000	$ 2,735,000	$ 4,997,000

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net loss	$ (106,508)	$ (62,848)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,865	5,054
Gain on disposals of assets, net	(2)	(68)
Impairment of goodwill	1,630	0
Impairment of other noncurrent assets	32,915	0
Gain on debt retirement	0	(60)
Loss on reclassification of cumulative foreign currency translation adjustments	2,915	0
Amortization of discounts on investments, net	(732)	(1,294)
Stock-based compensation expense	6,606	7,626
Shares issued as payment for services	553	545
Accretion of debt discount and amortization of deferred financing costs	0	60
Deferred income taxes	(1,706)	(126)
Other noncash items	0	3
Receivables:
Trade	423	(10)
Other	431	(267)
Prepaid expenses	(836)	(62)
Other assets	73	83
Accounts payable	2,337	(1,759)
Accrued compensation and benefits	1,338	3,620
Other accrued liabilities	(1,422)	(1,550)
Deferred revenue	112	484
Lease liabilities	(60)	80
Settlement and indemnification accruals	(1,862)	(675)
Net cash used in operating activities	(59,930)	(51,164)
Cash flows from investing activities
Purchases of investments	(74,845)	(153,698)
Sales and maturities of investments	126,994	137,748
Purchases of property, plant and equipment	(7,556)	(491)
Proceeds from sale of assets	60	61
Net cash provided by (used in) investing activities	44,653	(16,380)
Cash flows from financing activities
Proceeds from issuance of shares, net of issuance costs	31,833	72,808
Payments of long-term debt and convertible notes, including cost to retire of $120 in 2023	0	(43,219)
Proceeds from stock option exercises	346	0
Net cash provided by financing activities	32,179	29,589
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(25)	(306)
Net increase (decrease) in cash, cash equivalents, and restricted cash	16,877	(38,261)
Cash, cash equivalents, and restricted cash
Beginning of period	7,848	48,596
End of period	24,725	10,335
Supplemental disclosure of cash flow information
Cash paid during the period for interest	7	1,159
Cash paid during the period for income taxes	4	0
Accrued compensation paid in equity awards	3,039	3,361
Purchases of property and equipment included in accounts payable and other accrued liabilities	733	772
Proceeds from sale of assets included in accounts receivable	0	16
Issuance costs included in accounts payable and other accrued liabilities	$ 951	$ 0

Goodwill and Intangible Assets, Net - Schedule of Intangible Assets (Details) - Patents, developed technologies and know-how - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 15,912	$ 82,501
Accumulated Amortization	(11,139)	(41,800)
Net	$ 4,773	$ 40,701

Share-Based Payments - Schedule of Restricted Stock Unit Activity (Details) - Restricted and performance stock units - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Number of Restricted Stock Units
Balances at beginning of period (in shares)	961,534
Granted (in shares)	7,569,484
Vested (in shares)	(4,726,961)
Balances at end of period (in shares)	3,804,057	961,534
Weighted Average Grant Date Fair Value
Balances at beginning of period (in dollars per share)	$ 1.17
Granted (in dollars per share)	1.30
Vested (in dollars per share)	1.37
Balances at end of period (in dollars per share)	$ 1.18	$ 1.17
Additional Information
Weighted Average Remaining Contractual Term (Years)	6 months 25 days	2 months 8 days

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Land and land improvements	$ 164	$ 164
Buildings and building improvements	2,629	2,629
Furniture and fixtures	364	530
Equipment	16,773	18,576
Leasehold improvements	4,475	4,380
Breeding stock	92	79
Computer hardware and software	3,190	3,459
Construction and other assets in progress	8,382	1,577
Property, plant and equipment, gross	36,069	31,394
Less: Accumulated depreciation and amortization	(22,531)	(24,283)
Property, plant and equipment, net	$ 13,538	$ 7,111

Organization (Details) $ in Thousands	3 Months Ended		9 Months Ended
Organization (Details) $ in Thousands	Sep. 30, 2024 USD ($) subsidiary	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) subsidiary	Aug. 31, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of wholly owned operating subsidiaries \| subsidiary	2		2
Workforce focus on potential commercialization, percentage				0.20
Employee Severance And Terminiation Benefits
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges	$ 1,639		$ 1,639
Payments for restructuring	837
Restructuring reserve	802		802
Employee Severance And Terminiation Benefits \| Precigen ActoBio Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges		$ 2,100
Research and development \| Employee Severance And Terminiation Benefits
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges	594		594
Research and development \| Employee Severance And Terminiation Benefits \| Precigen ActoBio Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges	1,700
Selling, general and administrative \| Employee Severance And Terminiation Benefits
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges	1,045		$ 1,045
Selling, general and administrative \| Employee Severance And Terminiation Benefits \| Precigen ActoBio Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Severance charges	$ 400

Share-Based Payments (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Costs

Stock-based compensation costs included in the condensed consolidated statements of operations are presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of products and services	$	10	$	20	$	29	$	55

Research and development	558		579		2,005		1,666
Selling, general and administrative	1,493		1,707		4,572		5,905

Total	$	2,061	$	2,306	$	6,606	$	7,626

Schedule of Stock Option Activity

Stock option activity was as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Balances at December 31, 2023	22,057,340	$	6.90	7.12
Granted	7,230,174	1.41

Exercised	(265,448)	1.30
Forfeited	(1,027,459)	1.82
Expired	(1,136,787)	16.74
Balances at September 30, 2024	26,857,820	9.66		7.27
Exercisable at September 30, 2024	15,508,975	7.91		6.04

Schedule of Restricted Stock Unit Activity

RSU and PSU activity was as follows:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)
Balances at December 31, 2023	961,534	$	1.17	0.19
Granted	7,569,484	1.30
Vested	(4,726,961)	1.37

Balances at September 30, 2024	3,804,057	1.18		0.57

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 24,725	$ 7,578
Short-term investments	3,906	55,277
Receivables
Trade, less allowance for credit losses of $0 and $184 as of September 30, 2024 and December 31, 2023	479	902
Other	250	673
Prepaid expenses	5,153	4,325
Total current assets	34,513	68,755
Property, plant and equipment, net	13,538	7,111
Intangible assets, net	4,773	40,701
Goodwill	24,918	26,612
Right-of-use assets	5,307	7,097
Other assets	425	767
Total assets	83,474	151,043
Current liabilities
Accounts payable	4,320	1,726
Accrued compensation and benefits	6,612	8,250
Other accrued liabilities	5,676	6,223
Settlement and indemnification accruals	3,213	5,075
Deferred revenue	407	509
Current portion of lease liabilities	988	1,202
Total current liabilities	21,216	22,985
Deferred revenue, net of current portion	2,032	1,818
Lease liabilities, net of current portion	4,761	5,895
Deferred tax liabilities	89	1,847
Total liabilities	28,098	32,545
Commitments and contingencies (Note 13)
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares issued (in shares)	292,869,097	256,398,527
Shareholders' equity
Common stock, no par value, 400,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 292,869,097 shares and 256,398,527 shares issued as of September 30, 2024 and December 31, 2023, respectively, 292,869,097 shares and 248,919,096 shares outstanding as of September 30, 2024 and December 31, 2023, respectively.	$ 0	$ 0
Additional paid-in capital	2,126,342	2,084,916
Accumulated deficit	(2,070,979)	(1,964,471)
Accumulated other comprehensive income (loss)	13	(1,947)
Total shareholders' equity	55,376	118,498
Total liabilities and shareholders' equity	$ 83,474	$ 151,043

Short-term Investments - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale	$ 3,906	$ 55,277
Debt securities, available-for-sale, maturity, allocated and single maturity date, rolling within one year, fair value	3,906
U.S. government debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale	$ 2,951	$ 51,671
Debt securities, available-for-sale, term	3 months	3 months
Cash and Cash Equivalents \| U.S. government debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale	$ 17,425	$ 1,502

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Significant Accounting Policies - Research and Development - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Research and development commitments not yet incurred	$ 7,382	$ 17,800
Research and development commitments, cancellation terms, required written notice, period prior to desired termination date	60 days

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 356			$ 434	$ 1,124	$ 1,415
Impairment of property, plant, and equipment			$ 110
Operating lease, impairment loss		$ 488

Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

The carrying amount of cash and cash equivalents, receivables, accounts payable, accrued compensation and benefits, and other accrued liabilities approximate fair value due to the short maturity of these instruments.

Assets

The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis as of September 30, 2024:


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		September 30, 2024
Assets
U.S. government debt securities	$	—	$	2,951	$	—	$	2,951

Certificates of deposit	—		955		—		955

Total	$	—	$	3,906	$	—	$	3,906

The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis as of December 31, 2023:


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2023
Assets
U.S. government debt securities	$	—	$	51,671	$	—	$	51,671
Certificates of deposit	—		3,361		—		3,361
Corporate bonds	—		245		—		245
Total	$	—	$	55,277	$	—	$	55,277

The method used to estimate the fair value of the Level 2 short-term investments in the tables above is based on professional pricing sources for identical or comparable instruments, rather than direct observations of quoted prices in active markets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Shareholders' Equity - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended	9 Months Ended
	Aug. 31, 2024	Jan. 31, 2023	Jul. 31, 2018	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued (in shares)	39,878,939	43,962,640
Proceeds from issuance of shares, net of issuance costs		$ 72,808			$ 31,833	$ 72,808
Proceeds from issuance initial public offering	$ 30,882
Stock issued during period, shares, other (in shares)			7,479,431
Loss on foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative foreign translation losses				$ 2,915	$ 2,915
Public Stock Offering - Shares From Existing Shareholders
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued (in shares)	4,584,821
Related Parties, Aggregated
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued (in shares)	23,588,234	11,517,712

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Operating Leases - Additional Information (Details)	9 Months Ended
Operating Leases - Additional Information (Details)	Sep. 30, 2024
Lessee, Lease, Description [Line Items]
Termination period	1 year
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	6 years

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share

The following potentially dilutive securities as of September 30, 2024 and 2023, have been excluded from the above computations of diluted weighted average shares outstanding for the three and nine months then ended as they would have been anti-dilutive:


	September 30,
	2024	2023

Options	26,857,820	21,951,340
Restricted and performance stock units	3,804,057	961,534

Total	30,661,877	22,912,874

Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Highly liquid investment maximum maturity period	3 months

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	30,661,877	22,912,874
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	26,857,820	21,951,340
Restricted and performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	3,804,057	961,534

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Cash, cash equivalents, and restricted cash
Cash and cash equivalents		$ 24,725	$ 7,578
Restricted cash included in other assets		0	270
Cash, cash equivalents, and restricted cash	$ 10,335	$ 24,725	$ 7,848
Payment for debt extinguishment or debt prepayment cost	$ 120

Operating Leases - Schedule of Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental disclosure of cash flow information
Cash paid for operating lease liabilities	$ 1,903	$ 1,769
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)	$ 572	$ 399

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Certain information and footnote disclosures normally included in the Company's annual financial statements have been condensed or omitted. These interim condensed consolidated financial statements, in the opinion of management, reflect all normal recurring adjustments necessary for fair statement of the Company's financial position as of September 30, 2024 and results of operations and cash flows for the interim periods ended September 30, 2024 and 2023. The year-end condensed consolidated balance sheet data was derived from the Company's audited financial statements but does not include all disclosures required by U.S. GAAP. These interim financial results are not necessarily indicative of the results to be expected for the year ending December 31, 2024, or for any other future

annual or interim period. The accompanying interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

Consolidation

The accompanying condensed consolidated financial statements reflect the operations of Precigen and its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated.

Research and Development

The Company considers that regulatory requirements inherent in the research and development of new products preclude it from capitalizing such costs. Research and development expenses include salaries and related costs of research and development personnel, including stock-based compensation expense, costs to acquire technology rights, contract research organizations and consultants, facilities, materials and supplies associated with research and development projects as well as various laboratory studies. Costs incurred in conjunction with collaboration and licensing arrangements are included in research and development. Indirect research and development costs include depreciation, amortization, and other indirect overhead expenses.

Cash and Cash Equivalents

All highly liquid investments with an original maturity of three months or less at the date of purchase are considered to be cash equivalents. Cash balances at a limited number of banks may periodically exceed insurable amounts. The Company believes that it mitigates its risk by investing in or through major financial institutions. Recoverability of investments is dependent upon the performance of the issuer.

Short-term Investments

As of September 30, 2024 and December 31, 2023 short-term investments include United States government debt and agency securities and certificates of deposit. The Company determines the appropriate classification as short-term or long-term at the time of purchase based on original maturities and management's reasonable expectation of sales and redemption. The Company reevaluates such classification at each balance sheet date.

Fair Value of Financial Instruments

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset and liability. As a basis for considering such assumptions, the Company uses a three-tier fair value hierarchy that prioritizes the inputs used in its fair value measurements. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:


Level 1:			Quoted prices in active markets for identical assets and liabilities;

Level 2:			Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly; and

Level 3:			Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available.

Net Loss Per Share

Net Loss per Share

Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, using the treasury-stock method and the if-converted method. For purposes of the diluted net loss per share calculation, shares to be issued pursuant to stock options, restricted stock units ("RSUs") and performance stock units ("PSUs") are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive as described in the next paragraph. Therefore, basic and diluted net loss per share were the same for all periods presented. See Note 10 for further discussion of the Company's Share Lending Agreement, which was terminated on October 1, 2023.

Segment Information

The Company's chief operating decision maker ("CODM") regularly reviews disaggregated financial information for various operating segments. The financial information regularly reviewed by the CODM consists of (i) Biopharmaceuticals and (ii) Exemplar, each an operating segment that was also determined to be a reportable segment. The Biopharmaceuticals reportable segment is primarily comprised of the Company's legal entities of Precigen and ActoBio. See Note 1 for a description of Precigen, ActoBio and Exemplar.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Recently Issued Adopted Pronouncements Not Yet Adopted

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures. According to ASU 2023-07, public entities are required to disclose its significant segment expense categories and amounts for each reportable segment. A significant segment expense is an expense that is significant to the segment, regularly provided to or easily computed from information regularly provided to the chief operating decision maker and included in the reported measure of segment profit or loss. This updated standard is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. We do not believe the adoption of ASU 2023-07 will have a material impact on our consolidated financial statements and disclosures.

There are no other new accounting standards which have not yet been adopted that are expected to have a significant impact on our financial statements and related disclosures.

Share-Based Payments

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Payments

The Company measures the fair value of stock options, RSUs and PSUs issued to employees and nonemployees as of the grant date for recognition of stock-based compensation expense. Stock-based compensation expense for employees and nonemployees is recognized over the requisite service period, which is typically the vesting period and taking into account, if applicable, the probability of achievement of performance conditions.

In August 2024, the Compensation and Human Capital Management Committee of the Board of Directors (the "Compensation Committee") approved the grant of PSUs under the Company’s 2023 Omnibus Incentive Plan, as amended (the "2023 Plan"). During the three months ended September 30, 2024, the Company granted 2,978,000 PSUs to certain key employees of the Company, which are subject to the achievement of specified performance goals over a specified performance period. The PSUs will vest in two equal 50% installments based upon the achievement of two specified operational milestones relating to (i) the Company’s good faith submission to the U.S. Food and Drug Administration (the “FDA”) of a complete BLA for the Company’s PRGN-2012 investigational product and (ii) the approval of the BLA by the FDA, in each case during the period from the grant date through December 31, 2026 (the “Performance Period”).

The performance milestones may be achieved (and the PSUs earned) at any time during the Performance Period, and the PSUs will vest and be settled in shares of the Company’s common stock at such time as the Compensation Committee certifies that an applicable performance milestone has been achieved, subject to the employee's continued employment through the applicable achievement date (subject to certain expections). Any PSUs for which a performance milestone has not been achieved by the end of the Performance Period will be cancelled and forfeited.

The Company values the PSUs based on the grant date closing price per share of Company common stock. The Company recognizes stock-based compensation expense over the performance period, if it is probable that the performance condition will be achieved. Adjustments to stock-based compensation expense are made, as needed, each reporting period based on changes in the Company's estimate of the number of units that are probable of vesting.

As of September 30, 2024, the underlying performance milestone relating to the Company's submission of a BLA to the FDA was considered probable of achievement and stock-based compensation expense was recognized for the three and nine months ended September 30, 2024 related to this milestone. The underlying performance milestone related to the approval of the BLA by the FDA was determined to be not probable of achievement, as such approval is outside of the Company's control. Therefore, no stock-based compensation expense was recognized for the three and nine months ended September 30, 2024 related to this milestone.

Stock-based compensation costs included in the condensed consolidated statements of operations are presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of products and services	$	10	$	20	$	29	$	55

Research and development	558		579		2,005		1,666
Selling, general and administrative	1,493		1,707		4,572		5,905

Total	$	2,061	$	2,306	$	6,606	$	7,626

Precigen Equity Incentive Plans

In August 2013, Precigen adopted the 2013 Omnibus Incentive Plan (the "2013 Plan"), for employees and nonemployees which provided for grants of share-based awards, including stock options, RSUs, shares of common stock and other awards, to employees, officers, consultants, advisors, and nonemployee directors. Upon the effectiveness of the 2023 Plan in June 2023, no new awards may be granted under the 2013 Plan and any awards granted under the 2013 Plan prior to the effectiveness of the 2023 Plan will remain outstanding under such plan and will continue to vest and/or become exercisable in accordance with their original terms and conditions. As of September 30, 2024, there were 17,148,251 stock options and no RSUs outstanding under the 2013 Plan.

In April 2023, Precigen adopted the 2023 Plan, which became effective upon shareholder approval in June 2023. The 2023 Plan permits the grant of share-based awards, including stock options, restricted stock awards, RSUs, PSUs and other awards, to officers, employees and nonemployees. The 2023 Plan authorizes for issuance pursuant to awards under the 2023 Plan an aggregate of 18,418,137 shares, which included shares remaining available for issuance under the 2013 Plan as of the adoption

of the 2023 Plan as well as an increase of 2,000,000 shares of common stock, which was approved by Precigen's shareholders at Precigen's annual meeting on July 5, 2024. As of September 30, 2024, there were 6,023,521 stock options, 2,978,000 PSUs and no RSUs outstanding under the 2023 Plan and 7,043,856 shares were available for future grants.

In April 2019, Precigen adopted the 2019 Incentive Plan for Non-Employee Service Providers (the "2019 Plan"), which became effective upon shareholder approval in June 2019. The 2019 Plan permits the grant of share-based awards, including stock options, restricted stock awards, and RSUs, to nonemployee service providers, including board members. As of September 30, 2024, there were 12,000,000 shares authorized for issuance under the 2019 Plan, of which 3,686,048 stock options and 826,057 RSUs were outstanding and 2,448,058 shares were available for future grants.

Stock option activity was as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Balances at December 31, 2023	22,057,340	$	6.90	7.12
Granted	7,230,174	1.41

Exercised	(265,448)	1.30
Forfeited	(1,027,459)	1.82
Expired	(1,136,787)	16.74
Balances at September 30, 2024	26,857,820	9.66		7.27
Exercisable at September 30, 2024	15,508,975	7.91		6.04

RSU and PSU activity was as follows:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)
Balances at December 31, 2023	961,534	$	1.17	0.19
Granted	7,569,484	1.30
Vested	(4,726,961)	1.37

Balances at September 30, 2024	3,804,057	1.18		0.57

Precigen uses treasury shares (to the extent available) and authorized and unissued shares to satisfy share award exercises.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Placement in the Fair Value Hierarchy of Financial Assets that are Measured at Fair Value on a Recurring Basis

The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis as of September 30, 2024:


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		September 30, 2024
Assets
U.S. government debt securities	$	—	$	2,951	$	—	$	2,951

Certificates of deposit	—		955		—		955

Total	$	—	$	3,906	$	—	$	3,906

The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis as of December 31, 2023:


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2023
Assets
U.S. government debt securities	$	—	$	51,671	$	—	$	51,671
Certificates of deposit	—		3,361		—		3,361
Corporate bonds	—		245		—		245
Total	$	—	$	55,277	$	—	$	55,277

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (23,978)	$ (19,795)	$ (106,508)	$ (62,848)
Other comprehensive income (loss):
Unrealized gain on investments	29	123	44	614
Loss on foreign currency translation adjustments	(22)	(1,166)	(999)	(687)
Reclassification of cumulative foreign currency translation adjustments to other income (expense), net	2,915	0	2,915	0
Comprehensive loss	$ (21,056)	$ (20,838)	$ (104,548)	$ (62,921)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements reflect the operations of Precigen and its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated.

Liquidity and Going Concern

During the nine months ended September 30, 2024, the Company incurred a net loss of $106,508 and used $59,930 of cash in our operations, and as of September 30, 2024, had an accumulated deficit of $2,070,979. The Company has incurred operating losses since its inception and management expects operating losses and negative cash flows from operations to continue for the foreseeable future and, as a result, the Company will require additional capital to fund its operations and execute its business plan. As discussed in Note 10, the Company raised $30,882 in net proceeds in a public offering of its common stock in August 2024, however, had no committed source of additional funding from either debt or equity financings. As of September 30, 2024, the Company had $28,631 in cash, cash equivalents and short-term investments. The Company is currently exploring a number of potential opportunities for future liquidity. The Company's current cash and investments position, including the proceeds received from the August 2024 offering, is not sufficient to fund the Company's planned operations through one year after the date the interim financial statements are issued and accordingly, there is substantial doubt about the Company's ability to continue as a going concern. The analysis used to determine the Company's ability to continue as a going concern does not include cash sources outside of the Company's direct control that management expects to be available within the next twelve months.

The Company’s ability to fund its operations on an ongoing basis is dependent upon the successful execution of management’s plans, which include raising additional capital in the near term. This additional capital could be raised through a combination of non-dilutive financings (including debt or royalty monetization financings, collaborations, strategic alliances, monetization of assets, marketing, distribution or licensing arrangements), dilutive financings (including equity and/or debt financings which may include an equity component) and, in the longer term, from revenue related to product sales, to the extent its product candidates receive marketing approval and can be commercialized. There can be no assurance that new financing or other transactions will be available to the Company on commercially acceptable terms, or at all. Also, any collaborations, strategic alliances, monetization of assets or marketing, distribution or licensing arrangement may require the Company to give up some or all of its rights to a product or technology, which in some cases may be at less than the full potential value of such rights. If the Company is unable to obtain additional capital, the Company will assess its capital resources and may be required to delay, reduce the scope of, or eliminate some or all of its operations, which may include research and development and clinical trials. This may have a material adverse effect on the Company’s business, financial condition, results of operations and ability to operate as a going concern.

These interim condensed consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary in the event the Company can no longer continue as a going concern.

Risks and Uncertainties

The Company is subject to a number of risks similar to those of other companies conducting high-risk, early-stage research and development of therapeutic product candidates. Principal among these risks are dependence on key individuals and intellectual property, competition from other products and companies, and the technical risks associated with the successful research, development, and clinical manufacturing of its and its collaborators' therapeutic product candidates.

Research and Development

The Company has research and development arrangements with third parties that include upfront and milestone payments. As of September 30, 2024 and December 31, 2023, the Company had research and development commitments with third parties that had not yet been incurred totaling $7,382 and $17,800, respectively. The commitments are generally cancellable by the Company by providing written notice at least sixty days before the desired termination date.

Cash and Cash Equivalents

Short-term Investments

Fair Value of Financial Instruments


Level 1:			Quoted prices in active markets for identical assets and liabilities;

Level 2:			Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly; and

Level 3:			Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available.

Net Loss per Share


	September 30,
	2024	2023

Options	26,857,820	21,951,340
Restricted and performance stock units	3,804,057	961,534

Total	30,661,877	22,912,874

Segment Information

Use of Estimates

Recently Issued Accounting Pronouncements Not Yet Adopted

There are no other new accounting standards which have not yet been adopted that are expected to have a significant impact on our financial statements and related disclosures.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2024 and 2023, the Company calculated its tax benefit using the estimated annual effective tax rate method. The rate is the ratio of estimated annual income tax expense related to estimated pretax loss from continuing operations, excluding significant unusual or infrequently occurring items. As a result of the pretax losses anticipated for the full year which are not benefited, this rate has been calculated and applied to the year-to-date interim period’s ordinary income or loss on a jurisdiction by jurisdiction basis to determine the income tax expense/benefit allocated to the year-to-date period. The annual effective tax rate is revised, if necessary, at the end of each interim period based on the Company’s most current best estimate. The Company recorded an income tax expense of $12 and income tax benefit of $6 for the three months ended September 30, 2024 and 2023, respectively, and income tax benefit of $1,706 and $126 for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate differs from the U.S. statutory tax rate, primarily as a result of the change in valuation allowance required. The increase in tax benefit recognized in the nine months ended September 30, 2024 is primarily caused by the non-cash impairment of ActoBio's developed technology and goodwill, which resulted in the reduction of the associated deferred tax liability, and was recorded as a discrete item during the second quarter of 2024. The Company's net deferred tax assets are offset by a valuation allowance due to the Company's history of net losses combined with an inability to confirm recovery of the tax benefits of the Company's tax attributes and other net deferred tax assets. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Collaboration and Licensing Revenue

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaboration and Licensing Revenue

The Company's collaborations and licensing agreements may provide for multiple promises to be satisfied by the Company and typically include a license to the Company's technology platforms, participation in collaboration committees, and performance of certain research and development services. Based on the nature of the promises in the Company's collaboration and licensing agreements, the Company typically combines most of its promises into a single performance obligation because the promises are highly interrelated and not individually distinct. Options to acquire additional services are considered to determine if they constitute material rights. At contract inception, the transaction price is typically the upfront payment received and is allocated to the performance obligations. The Company has determined the transaction price should be recognized as revenue based on its measure of progress under the agreement primarily based on inputs necessary to fulfill the performance obligation.

The Company determines whether collaborations and licensing agreements are individually significant for disclosure based on a number of factors, including total revenue recorded by the Company pursuant to collaboration and licensing agreements, collaborators or licensees with equity method investments, or other qualitative factors. Collaboration and licensing revenues generated from consolidated subsidiaries are eliminated in consolidation.

There was no collaboration and licensing revenue recognized during both the three and nine months ended September 30, 2024 and 2023.

Alaunos License Agreement

On April 3, 2023, the Company entered into an amended and restated exclusive license agreement (the “License Agreement”), with Alaunos Therapeutics (“Alaunos”). The License Agreement amended and replaced an Exclusive License Agreement by and between the Company and Alaunos, dated October 5, 2018.

Pursuant to the terms of the License Agreement, the Company granted Alaunos an exclusive, worldwide, royalty-free, sub-licensable license to certain patents and know-how to research, develop and commercialize T-cell receptor products, which are referred to as TCR Products, designed for neoantigens for the treatment of cancer or the treatment and prevention of human papilloma virus, or HPV, to the extent that the primary reason for such treatment or prevention is to prevent cancer, which is referred to as the HPV Field. The Company has also granted Alaunos an exclusive, worldwide, royalty-free, sub-licensable license to certain patents relating to the Sleeping Beauty technology to research, develop and commercialize TCR Products

(other than those designed for neoantigens) for the treatment of cancer and in the HPV Field. The Company also granted Alaunos certain non-exclusive rights to certain patents and know-how to research, develop and commercialize products developed under or arising from a program of research and development focused on NK cells and gamma delta T-cells in the HPV field. Alaunos had the exclusive right to conduct in its sole discretion, and is solely responsible for all aspects of, the research, development and commercialization of the licensed products for the treatment of cancer and was not subject to a diligence obligation with respect to such efforts.

On October 4, 2024, the License Agreement was terminated. Following the termination of the License Agreement, Precigen has regained all rights previously licensed to Alaunos and Alaunos retains no rights to utilize any of Precigen’s technology.

Deferred Revenue

Deferred revenue primarily consists of upfront and milestone consideration received for the Company's collaboration and licensing agreements. Revenue is recognized as services are performed. The arrangements classified as long-term are not active while the respective counterparties evaluate the status of the project and its desired future development activities since the Company cannot reasonably estimate the amount of services, if any, to be performed over the next year.

Deferred revenue consisted of the following:


	September 30, 2024		December 31, 2023
Collaboration and licensing agreements	$	1,818	$	1,818
Prepaid product and service revenues	15		15
Other	606		494
Total	$	2,439	$	2,327
Current portion of deferred revenue	$	407	$	509
Long-term portion of deferred revenue	2,032		1,818
Total	$	2,439	$	2,327