Precigen, Inc. (NASDAQ:PGEN) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET

Company Participants

Steve Harasym - Vice President, Investor Relations

Helen Sabzevari - President & Chief Executive Officer

Harry Thomasian - Chief Financial Officer

Conference Call Participants

Jason Butler - JMP Securities

Jennifer Kim - Cantor Fitzgerald

Arthur He - H.C. Wainwright

Ben Burnett - Stifel

Brian Cheng - JPMorgan

Operator

Good morning and welcome to the Precigen Second Quarter and First Half 2023 Financial Results and Business Update Call. Please note this event is being recorded.

I would like to turn the conference over to Steve Harasym, Vice President of Investor Relations.

Steve Harasym

Thank you, operator, and thank you for joining us today. With me are Dr. Helen Sabzevari, President and CEO of Precigen; and Harry Thomasian, our CFO. Helen will provide details on today's releases and an update on our portfolio. After which Harry will review our second quarter and first half 2023 financial results. Following our prepared remarks, we will open the call to Q&A.

Before we begin, let me briefly review our forward-looking statement. During today's call, we will make various forward-looking statements. Investors are cautioned that our forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those indicated by our forward-looking statements. Please read the safe harbor statement contained in this presentation as well as risk factors contained in Precigen's most recent SEC filings for a more complete discussion of these risks and uncertainties.

I will now turn the call over to Dr. Sabzevari. Helen?

Helen Sabzevari

Thank you, Steve, and thanks to all of you for joining us today. Today is a very exciting day for Precigen. And I'd like to provide you with the significant progress that we have made in the first half of this year. I will discuss two major topics today. One, is the positive regulatory developments, which we announced this morning for our lead program PRGN-2012 in an orphan rare disease setting in RRP; and secondly the portfolio prioritization to focus our efforts to accelerate the development of PRGN-2012 towards commercialization, while we continue advancement of our other key programs and extend our cash runway to 2025.

With that in mind, let's go to slide number 4. We have been as you know active in discussions with the FDA to align on a rapid regulatory path for PRGN-2012 given the high unmet need in RRP patients. But there is no approved drugs and the only treatment options remains is recurring surgeries that are major burden for these patients, both physically health-wise, economically.