Precigen Restructures, Reduces CAR-T Efforts Amid Job Cuts

Restructuring and Job Cuts:

Precigen has announced a restructuring plan that includes laying off over a fifth of its staff.
This move has led to a significant reduction in CAR-T development efforts.

Shift in Focus:

The company is redirecting its efforts towards PRGN-2012, an AdenoVerse gene therapy, indicating a strategic shift away from CAR-T therapies.

Impact on Stock:

Precigen's stock price dropped by 11% following the announcement of the restructuring and job cuts.

UltraCAR-T Program:

Despite the restructuring, Precigen continues to advance its UltraCAR-T platform, which includes investigational therapies like PRGN-3005 for ovarian cancer and PRGN-3006 for acute myeloid leukemia (AML).

Clinical Trials:

The PRGN-3005 UltraCAR-T trial is ongoing, evaluating intravenous and intraperitoneal administration methods for treating platinum-resistant ovarian cancer.

Technological Advantages:

Precigen's UltraCAR-T platform uses a non-viral gene transfer process and an overnight manufacturing system, potentially addressing limitations of traditional CAR-T therapies.