J.P. Morgan cuts Precigen to underweight, cites burn rate [Seeking Alpha]
Precigen, Inc. (PGEN)
Last precigen, inc. earnings: 3/2 04:05 pm
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Source: Seeking Alpha
The investment bank noted that Precigen stated in its latest 10-K report that it had doubts about its ability to continue as a going concern within one year of the statement being issued. It also pointed out that Precigen reported having about $63M in cash and equivalents at the end of 2023, but has a burn rate of around $20M per quarter. J.P. Morgan said it believes the company's pipeline “needs to be further streamlined” and that “near-term catalysts around the lead asset also lack the ability to turn sentiment around and offer upside surprises.” It also doesn't believe updates from the company's UltraCAR-T program “will move the needle for investors." "While we acknowledge the unmet needs in Precigen's lead indication, and the benefits PRGN-2012 demonstrated in recurrent respiratory papillomas, we are cautious on its path forward,” the analysts added. Recommended For You More Trending News Recommended For You More Trending News About PGEN Stock Related Stocks Tre
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PGEN
News
- Precigen to Present Late-breaking Abstract for Pivotal Phase 2 Study Data for PRGN-2012 AdenoVerse Immunotherapy for the Treatment of Patients with Recurrent Respiratory Papillomatosis at the 2024 ASCO Annual MeetingPR Newswire
- Precigen and Recurrent Respiratory Papillomatosis Foundation to Hold Inaugural International RRP Awareness Day on June 11th [Yahoo! Finance]Yahoo! Finance
- Precigen and Recurrent Respiratory Papillomatosis Foundation to Hold Inaugural International RRP Awareness Day on June 11thPR Newswire
- Precigen, Inc. (NASDAQ: PGEN) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Precigen, Inc. (NASDAQ: PGEN) was downgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating.MarketBeat
PGEN
Earnings
- 11/9/23 - In-Line
PGEN
Sec Filings
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- PGEN's page on the SEC website