Precigen Reports Third Quarter 2026 Results Highlighted by Strong Sequential PAPZIMEOS Revenue Growth and Positive Cash Flow Ahead of Guidance

Helen Sabzevari, President and CEO of Precigen

“Precigen has established an exceptional position of strength, with commercial momentum and a proven strategy driving our next phase of growth. PAPZIMEOS has transformed treatment for adults with RRP, with well over 500 patients initiating treatment and 300 of them having completed treatment demonstrating recognition as the first-line standard of care. Its compelling value proposition is supported by an unmatched 51% complete response rate, ongoing durable complete responses up to five years, a well-characterized safety profile, and straightforward administration without a specialized device. PAPZIMEOS also received full FDA approval without the need for a confirmatory trial. Strong commercial uptake has driven sequential revenue growth and positive cash flow ahead of guidance, putting us well on our way to realizing its blockbuster potential. We are actively advancing a comprehensive lifecycle strategy to unlock the full potential of PAPZIMEOS with ongoing redosing clinical trial, pediatric development, and geographic expansion activities. PAPZIMEOS has established a powerful foundation for our next chapter, and the FDA's Platform Technology Designation positions us to realize the broader potential of AdenoVerse to advance our portfolio.”

Phil Tennant, Chief Commercial Officer of Precigen

“PAPZIMEOS net revenue grew 37% quarter-over-quarter to $72.9 million, demonstrating the strength of our commercial execution and growing demand for the first FDA-approved therapy for adults with RRP. As of today, well over 500 patients have begun PAPZIMEOS treatment and over 300 of them have completed treatment. Physicians are increasingly making PAPZIMEOS their treatment of choice, driven by its compelling efficacy, safety and long-term durability. We have established a commanding first-mover advantage, supported by broad payer coverage, a permanent J-code and a straightforward treatment experience, with subcutaneous administration that requires no specialized devices. With a substantial addressable patient population, we continue to build on this momentum as we deepen adoption, expand patient access and capitalize on PAPZIMEOS as the preferred first-line treatment for adults with RRP.”

Clark A. Rosen, Lewis Francis Morrison, MD Endowed Chair in Laryngology, Professor, Department of Otolaryngology – Head and Neck Cancer Center, Chief, Division of Laryngology, Co-Director, UCSF Voice and Swallowing Center, University of California, San Francisco

“PAPZIMEOS has fundamentally transformed how we treat adults with RRP, establishing a new first-line standard of care for a disease that, for more than a century, was managed primarily through repeated surgeries. The potential for durable freedom from surgery, combined with demonstrated clinical efficacy, a well-characterized safety profile, and straightforward subcutaneous administration, represents a remarkable advance for our patients. We are moving beyond simply managing the recurrence of disease to a treatment approach that offers the possibility of sustained disease control.”

Harry Thomasian Jr., Chief Financial Officer of Precigen

“The third quarter marked another significant financial milestone for Precigen. PAPZIMEOS net revenue grew 37% quarter-over-quarter to $72.9 million, driving net income of $35.8 million, or $0.08 per diluted share. We previously guided to positive cash flow by the end of the year, and we are pleased to have achieved it a full quarter ahead of that guidance, with net cash provided by operating activities of $11.9 million. These results reflect strong PAPZIMEOS uptake and our disciplined approach to spending. These results are particularly remarkable given that PAPZIMEOS launched just one year ago, and we expect continued revenue momentum as adoption grows while we maintain our focus on fiscal responsibility.”