Transcript: Precigen Q1 2026 Earnings Conference Call

On Wednesday, Precigen (NASDAQ: PGEN ) discussed first-quarter financial results during its earnings call. The full transcript is provided below. This content is powered by Benzinga APIs. For comprehensive financial data and transcripts, visit https://www.benzinga.com/apis/ . The full earnings call is available at https://app.webinar.net/gM6Ljy5jKN3 Summary Precigen Inc reported strong financial performance with Q1 2026 net product revenue of $21.6 million from Papcemios, up from $3.4 million in Q4 2025. The company highlighted the successful commercial launch of Papcemios, supported by FDA approval, broad payer coverage, and strong adoption in both major medical centers and community practices. Management expressed optimism about continued growth, with plans to initiate a pediatric trial for Papcemios in Q4 2026 and updates on their PRGN 2009 immunotherapy program expected later in the year. The company reported an operating loss of $6 million for the quarter, with a net loss of $7.9 million, and ended the quarter with $56.7 million in cash and equivalents. Precigen Inc anticipates achieving cash flow breakeven by the end of 2026 without needing to access additional capital markets. Full Transcript OPERATOR Good afternoon ladies and gentlemen and welcome to the President’s first quarter 2026 financial results and Business Updates Conference Call at this time all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, May 13, 2026 and I would now like to turn the conference over to Mr. Steven Karasim. Please go ahead sir. Steven Karasim (Moderator) Thank you Operator and thank you for all those joining us today for our Q1 2026 update call. Joining me today are Dr. Helen Sabzavari, our President and CEO, Phil Tennant, our Chief Commercial Officer, Harry Temassian, our CFO and Ratul Shah, our coo. Before we begin our prepared remarks, I remind everyone that we will be making certain forward looking statements during this call. These statements are based on our current expectations and beliefs. We encourage you to review the slide in this presentation as well as our SEC filings which include risks and uncertainties that could cause actual results to differ materially from today’s forward looking statements. With that, I will now turn the call over to Dr. Sabzavari. Dr. Helen Sabzavari Thank you Steve and thank you to all those joining us for our Q1 update call. The approval of Tafsimias in August of 2025 has brought a novel first line standard of care treatment for adults with rrp. In nine short months we have witnessed tremendous progress with the first commercial therapeutic launch in the disease’s history. Since last reporting in March, the launch has continued to show accelerating momentum. The early success and trajectory continues to build on this landmark achievement for the patients, families, healthcare providers, the RRP foundation and all of those impacted by this devastating disease. I will begin by providing you with some general color around what we are seeing and then turn the call over to Phil who will provide more specifics around commercialization. The accelerating trajectory we are seeing in revenue growth is robust as reported in our quarterly report Papcemias. Net Product revenue for Q1 2026, the first full quarter of availability was 21.6 million as compared to 3.4 million in Q4 2025. Prescribers continue to add Papcemias to their practices at both major medical centers and community practices alike, which has been a strong tailwind as we are seeing this increasing Momentum continue into Q2. This is a clear signal of the high level of enthusiasm among patients and physicians resulting in significant uptake of the therapy. Why we believe we are seeing such a significant launch trajectory. First, the full approval and broad label from the FDA. There are no restrictions on the number of surgeries a patient must undergo from prior to treatment with papzimia. We are seeing this as patients are being dosed across all severities and in the extensive payer coverage we have secured. Second, the transformative clinical data based on significant efficacy, durable and ongoing responses with the median duration of follow up of three years. Importantly, we look forward to updating the ongoing durability data at ASCO (American Society of Clinical Oncology) next month. Third, the ease of administration of the drug has enabled broad and rapid uptake at not just the major medical institution but increasingly at community practices. Specifically, the ease of dosing as well as the efficient distribution infrastructure we have in place across the country allow rapid and effective integration into routine clinical practices. Dr. Helen Sabzavari Finally, the power of this therapy is strongly supported by a landmark expert position paper released earlier this year. The paper is sponsored by the RRP foundation and authored by 16 leading US physicians specializing in RRP, was published in the Laryngoscope, the premier peer reviewed journal in otolaryngology. The paper recommends Papcemius as the new standard of care and the preferred first line therapy. Collectively, these factors mean that Papcemias has set a new benchmark for this space, prioritizing medical therapy over repeated surgical interventions to improve patient outcome. Dr. Helen Sabzavari As a reminder, this therapy directly addresses the root cause of RRP by eliciting a targeted immune response against HPV 6 11. Papcemias also offers the potential for redosing due to its mechanism of action and favorable safety profile. We are evaluating this in an ongoing clinical trial which is enrolling patients as we speak. I will now turn the call over to Phil for details around our commercial launch. Phil Tennant (Chief Commercial Officer) Phil thank you Helen and a warm welcome to all those listening. I’m delighted to share the most recent progress of our launch efforts with details around the completion of Q1 and the sharp momentum we continue to see with Papcemias’ launch in Q2 of this year. As seen in our filings, we showed strong quarter over quarter product revenue growth in Q1 2026, clearly demonstrating the expected acceleration of product uptake from 3.4 million to 21.6 million. Phil Tennant (Chief Commercial Officer) As we report today, we continue to see comprehensive payer coverage and further activation of accounts across the country. I will now present some of the leading indicators we are observing as of today translating to the launch acceleration Registrations in the Papcemios patient hub continue to grow. As of today we have approximately 400 patients registered of which 25% are in the community setting. Underscoring the broad reach of papsimios beyond academic and major centers and reinforcing that papsimios can be effectively integrated into routine clinical practice beyond major centers. Phil Tennant (Chief Commercial Officer) As previously mentioned, this does not account for non hub patients directly enrolled by institutions. This continues to support the fact that there is expected pent up demand for the new standard of care for adults with rrp. Payer coverage has been exceptional and provides a solid platform for patient access to papcemios. Total lives covered through commercial Medicare and Medicaid stands at an estimated 297 million, all inclusive. This equates to more than 90% of insured lives covered in the U.S. Phil Tennant (Chief Commercial Officer) as expected, we continue to see activation of accounts who are prescribing and ordering papcemiose across both major medical centers and community practices. We are seeing this Trend Continue into Q2, further fueled by the Permanent J Code and the dedicated field reimbursement resources we have implemented. As Helen mentioned earlier, the expert position paper continues to solidify papzimios as the first choice for adult patients and treating physicians. We continue to have a significant presence at major scientific congresses in the US and beyond, both through publications and presentations and interactions with thought leaders and the broader treatment community. This again reinforces the strong receptivity to papzymios that we are seeing from the market. These congresses will continue to be a significant part of our commercial and scientific strategy moving forward. The assignment of the Permanent J code on April 1, coupled with the durability of response that we are seeing in patients, is helping this … Full story available on Benzinga.com