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of Contents](#iba9e6aa0b40a4dba90ff14f001cba394_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549 \n\nFORM 10-Q\n\n☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from                      to                     .\n\nCommission File Number: 001-36042\n\n PRECIGEN, INC.\n\n(Exact name of registrant as specified in its charter)\n\nVirginia 26-0084895\n\n(State or other jurisdiction of\nincorporation or organization) (I.R.S. Employer\nIdentification Number)\n\n20374 Seneca Meadows Parkway \n\nGermantown,Maryland 20876\n\n(Address of principal executive offices) (Zip Code)\n\n(301) 556-9900\n\n(Registrant's telephone number, including area code) \n\nN/A\n\n(Former name, former address and former fiscal year, if changed since last report) \n\nSecurities registered pursuant to Section 12(b) of the Exchange Act:\n\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\n\nCommon Stock, no par value PGEN Nasdaq Global Select Market\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer ☐ Accelerated filer ☐\n\nNon-accelerated filer ☒ Smaller reporting company ☒\n\nEmerging growth company☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒\n\nAs of April 30, 2026, 356,510,980 shares of common stock, no par value per share, were issued and outstanding.\n\n[Table of Contents](#iba9e6aa0b40a4dba90ff14f001cba394_7)\n\nPRECIGEN, INC.\n\nFORM 10-Q\n\nTABLE OF CONTENTS\n\n \n\nItem No. Page\n\n[PART I - FINANCIAL INFORMATION](#iba9e6aa0b40a4dba90ff14f001cba394_13)\n\n1.\n[Condensed Consolidated Financial Statements (unaudited):](#iba9e6aa0b40a4dba90ff14f001cba394_16)\n\n[4](#iba9e6aa0b40a4dba90ff14f001cba394_16)\n\n[Condensed Consolidated Balance Sheets as of](#iba9e6aa0b40a4dba90ff14f001cba394_19)March 31, 2026[and](#iba9e6aa0b40a4dba90ff14f001cba394_19)December 31, 2025\n\n[4](#iba9e6aa0b40a4dba90ff14f001cba394_19)\n\nCondensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025\n\n[6](#iba9e6aa0b40a4dba90ff14f001cba394_22)\n\n[Condensed Consolidated Statements of Comprehensive Loss for the](#iba9e6aa0b40a4dba90ff14f001cba394_25) Three Months Ended March 31, 2026[and](#iba9e6aa0b40a4dba90ff14f001cba394_22)2025\n\n[7](#iba9e6aa0b40a4dba90ff14f001cba394_25)\n\n[Condensed Consolidated Statements of](#iba9e6aa0b40a4dba90ff14f001cba394_28) Mezzanine Equity and [Shar](#iba9e6aa0b40a4dba90ff14f001cba394_28)[eholders' Equity](#iba9e6aa0b40a4dba90ff14f001cba394_28)[for the](#iba9e6aa0b40a4dba90ff14f001cba394_28)Three Months Ended March 31, 2026[and](#iba9e6aa0b40a4dba90ff14f001cba394_28)2025\n\n[8](#iba9e6aa0b40a4dba90ff14f001cba394_28)\n\n[Condensed Consolidated Statements of Cash Flows for the](#iba9e6aa0b40a4dba90ff14f001cba394_34)Three Months EndedMarch 31, 2026[and](#iba9e6aa0b40a4dba90ff14f001cba394_34)2025\n\n[9](#iba9e6aa0b40a4dba90ff14f001cba394_34)\n\n[Notes to the Condensed Consolidated Financial Statements](#iba9e6aa0b40a4dba90ff14f001cba394_37)\n\n[11](#iba9e6aa0b40a4dba90ff14f001cba394_37)\n\n2.\n[Management's Discussion and Analysis of Financial Condition and Results of Operations](#iba9e6aa0b40a4dba90ff14f001cba394_97)\n\n[29](#iba9e6aa0b40a4dba90ff14f001cba394_97)\n\n3.\n[Quantitative and Qualitative Disclosures About Market Risk](#iba9e6aa0b40a4dba90ff14f001cba394_100)\n\n[39](#iba9e6aa0b40a4dba90ff14f001cba394_100)\n\n4.\n[Controls and Procedures](#iba9e6aa0b40a4dba90ff14f001cba394_103)\n\n[39](#iba9e6aa0b40a4dba90ff14f001cba394_103)\n\n[PART II - OTHER INFORMATION](#iba9e6aa0b40a4dba90ff14f001cba394_106)\n\n1.\n[Legal Proceedings](#iba9e6aa0b40a4dba90ff14f001cba394_109)\n\n[40](#iba9e6aa0b40a4dba90ff14f001cba394_109)\n\n1A.\n[Risk Factors](#iba9e6aa0b40a4dba90ff14f001cba394_112)\n\n[40](#iba9e6aa0b40a4dba90ff14f001cba394_112)\n\n2.\n[Unregistered Sales of Equity Securities and Use of Proceeds](#iba9e6aa0b40a4dba90ff14f001cba394_115)\n\n[40](#iba9e6aa0b40a4dba90ff14f001cba394_115)\n\n3.\n[Defaults on Senior Securities](#iba9e6aa0b40a4dba90ff14f001cba394_118)\n\n[40](#iba9e6aa0b40a4dba90ff14f001cba394_118)\n\n4.\n[Mine Safety Disclosures](#iba9e6aa0b40a4dba90ff14f001cba394_121)\n\n[40](#iba9e6aa0b40a4dba90ff14f001cba394_121)\n\n5.\n[Other Information](#iba9e6aa0b40a4dba90ff14f001cba394_124)\n\n[41](#iba9e6aa0b40a4dba90ff14f001cba394_124)\n\n6.\n[Exhibits](#iba9e6aa0b40a4dba90ff14f001cba394_130)\n\n[41](#iba9e6aa0b40a4dba90ff14f001cba394_130)\n\n[Signatures](#iba9e6aa0b40a4dba90ff14f001cba394_133)\n\n[43](#iba9e6aa0b40a4dba90ff14f001cba394_133)\n\nPrecigen®, AdenoVerse®, UltraCAR-T®, RheoSwitch®, UltraVector®, RTS®, UltraPorator®, ActoBiotics®, Advancing Medicine With Precision®, RRP Awareness Day ®, Giving Voice to Inspire Change ®, and RheoSwitch Therapeutic System® are our and/or our affiliates' registered trademarks in the United States and GenVec™, Papzimeos™, Recurrent Respiratory Papillomatosis Awareness Giving Voice to Inspire Change™, RRP Awareness & Design™, RRP Awareness Day Giving Voice to Inspire Change™, Imwayka™, Inkalvo™ and Rygnar™ are our and/or our affiliates' common law trademarks in the United States. This Quarterly Report on Form 10-Q, or Quarterly Report, and the information incorporated herein by reference contain references to trademarks, service marks, and trade names owned by us or other companies. Solely for convenience, trademarks, service marks, and trade names referred to in this Quarterly Report and the information incorporated herein, including logos, artwork, and other visual displays, may appear without the ® or ™ symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks, service marks, and trade names. We do not intend our use or display of other companies' trade names, service marks, or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. Other trademarks, trade names, and service marks appearing in this Quarterly Report are the property of their respective owners. Unless the context requires otherwise, references in this Quarterly Report to \"Precigen\", \"Company\", \"we\", \"us\", and \"our\" refer to Precigen, Inc.\n\n2\n\n[Table of Contents](#iba9e6aa0b40a4dba90ff14f001cba394_7)\n\nSpecial Note Regarding Forward-Looking Statements\n\nThis Quarterly Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this Quarterly Report, including statements regarding our strategy; future events, including their outcome or timing; future operations; future financial position; future revenue; projected costs; prospects; plans; objectives of management; and expected market growth, are forward-looking statements. The words \"aim\", \"anticipate\", \"assume\", \"believe\", \"continue\", \"could\", \"due\", \"estimate\", \"expect\", \"intend\", \"may\", \"objective\", \"plan\", \"positioned\", \"potential\", \"predict\", \"project\", \"seek\", \"should\", \"target\", \"will\", \"would\", and the negatives of these terms or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements may relate to, among other things: (i) our commercialization plans in the United States, the European Union (“EU”), and elsewhere for our first commercial product, Papzimeos (zopapogene imadenovec-drba, PRGN-2012); (ii) our strategy and overall approach to our business model; (iii) our ability to successfully enter new markets or develop additional product candidates, including the expected timing and results of investigational studies, preclinical and clinical trials, and regulatory approvals; (iv) our or the ability of third-parties to consistently manufacture our product and product candidates on a timely basis (v) actual or anticipated variations in our operating results; (vi) our cash position; (vii) market conditions in our industry; (viii) our expectations regarding the size of the patient populations amenable to treatment with our product and product candidates; (ix) the volatility of our stock price; (x) the ability to protect our intellectual property and other proprietary rights and technologies; (xi) outcomes of pending and future litigation; (xii) the rate and degree of market acceptance of products developed by us, and competition from existing technologies and products or new technologies and products that may emerge; (xiii) our ability to retain and recruit key personnel; (xiv) expectations related to the use of proceeds from public offerings and other financing efforts; (xv) estimates regarding expenses, future revenue, capital requirements, and needs for additional financing; and (xvi) our expectations regarding pre-launch inventory, including the exception of future revenue to be generated from such inventory and timing of selling such inventory and (xvii) expectations regarding our gross margins from sales of Papzimeos.\n\nForward-looking statements are based on our beliefs, assumptions, and expectations of our future performance, and may also concern our expectations relating to our subsidiaries and other affiliates. We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report.\n\nWe may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions, and expectations disclosed in the forward-looking statements we make. We have included important factors in the cautionary statements included in this Quarterly Report, particularly in Part II, Item 1A, \"Risk Factors,\" that could cause actual results or events to differ materially from the forward-looking statements that we make. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, JVs, or investments that we may make.\n\nYou should read this Quarterly Report, the documents that we reference in this Quarterly Report, our Annual Report on Form 10-K for the year ended December 31, 2025, the other reports we have filed with the Securities and Exchange Commission, or SEC, and the documents that we have filed as exhibits to our filings with the SEC completely and with the understanding that our actual future results may be materially different from what we expect. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.\n\n3\n\n[Table of Contents](#iba9e6aa0b40a4dba90ff14f001cba394_7)\n\nPART I. FINANCIAL INFORMATION"}