Precigen, Inc. (PGEN) Q4 2025 Earnings Call March 25, 2026 4:30 PM EDT
Company Participants
Steven Harasym – VP & Head of Investor Relations Helen Sabzevari – President, CEO & Director Phil Tennant – Chief Commercial Officer Harry Thomasian – Chief Financial Officer Rutul Shah – Chief Operating Officer
Conference Call Participants
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Jason Butler – Citizens JMP Securities, LLC, Research Division Swayampakula Ramakanth – H.C. Wainwright & Co, LLC, Research Division Brian Cheng Michael DiFiore – Evercore ISI Institutional Equities, Research Division
Presentation
Operator
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Good afternoon, ladies and gentlemen, and welcome to the Precigen Full Year 2025 Financial Results and Business Updates Conference Call. [Operator Instructions] This call is recorded on Wednesday, March 25, 2026.
I would now like to turn the conference over to Steve Harasym. Please go ahead.
Steven Harasym VP & Head of Investor Relations
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Thank you, operator, and thank you to all those joining us for our Fourth Quarter and Year-end 2025 Update Call. Joining me today are Helen Sabzevari, our President and CEO; Phil Tennant, our Chief Commercial Officer; and Harry Thomasian, our CFO.
Before we begin our prepared remarks, I remind everyone that we will be making certain forward-looking statements. These statements are based on our current expectations and beliefs. We encourage you to review the slide in the presentation and in our SEC filings, which include risks and uncertainties that could cause actual results to differ from today’s forward-looking statements.
With that, I will now turn the call over to Helen.
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Helen Sabzevari President, CEO & Director
Thank you, Steve. I would like to extend a warm welcome to all those joining us for our update call today. In the short time since the early and full approval of PAPZIMEOS in August, the standard of care first-line treatment for adult RRP, we are seeing a tremendous progress with the first-ever therapeutic commercial launch
The city of Baltimore has filed a lawsuit against Elon Musk‘s artificial intelligence company xAI, accusing its chatbot Grok of generating harmful and nonconsensual sexualized “deepfake” images, including those involving minors.
The complaint, filed in a local circuit court, claims that Grok has been used to create explicit images of people without their permission.
City officials argue that this violates consumer protection laws and puts users at serious risk.
The lawsuit marks one of the first major actions by a US city targeting AI-generated deepfake content.
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According to the filing, Grok—launched in 2023 and distributed through the social platform X—was promoted as a safe, general-purpose tool.
However, Baltimore alleges the platform has instead become a major source of harmful material.
The city claims millions of realistic sexualized images were created in a short period, including thousands involving children.
According to CNBC, Baltimore Mayor Brandon Scott strongly criticized the situation, saying, “We’re talking about tech companies enabling the sexual exploitation of children.”
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He added that the issue is “a threat to privacy, dignity and public safety,” and stressed that those responsible must be held accountable.
Baltimore Targets Grok Over Deepfakes
The lawsuit also points to a viral trend where users prompted Grok to alter images of real people into revealing or explicit versions. Officials argue that such features make it easy to misuse the technology.
In one example cited in the complaint, Musk himself shared an AI-generated image of his likeness in revealing clothing, which the city claims signaled approval of the tool’s capabilities.
Baltimore is now asking the court to step in. The city wants an order requiring xAI to change how Grok works, especially features that may enable abuse.
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It is also seeking financial penalties, though no specific amount has been disclosed.
The case comes as xAI faces growing scrutiny worldwide. Regulators in several countries are already reviewing how Grok handles sensitive content.
In response to earlier concerns, the company said it had started limiting certain image requests and blocking content in places where it may be illegal.
Musk previously stated he was “not aware of any naked underage images generated by Grok,” pushing back on claims about the platform, Reuters reported.
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However, Baltimore officials say the scale of the issue suggests stronger safeguards are needed.
Savannah Guthrie, co-anchor of NBC’s “Today” show, fought back tears Tuesday as she gave her first public interview since her 84-year-old mother, Nancy Guthrie, was abducted from her Tucson, Arizona, home nearly two months ago, describing nightly nightmares of her mother’s terror and the family’s desperate hope for her safe return.
In an emotional conversation with longtime colleague Hoda Kotb that aired in excerpts on “Today” and will continue in two parts Thursday and Friday, Guthrie opened up about the “agony” that has consumed her family since Nancy Guthrie vanished early Feb. 1 from her home in the Catalina Foothills area near Tucson. Investigators believe the widow was taken against her will in the middle of the night, with drops of blood found on the front porch and chilling doorbell camera footage showing a masked, armed suspect.
“It’s been 53 days,” Guthrie said, her voice breaking as she sat with Kotb. “Every night I wake up imagining what she must be going through, the terror she felt. As a daughter, that’s something I can’t unsee.” She described the constant ache of uncertainty, saying the family still believes Nancy is alive and pleading for anyone with information to come forward.
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Nancy Guthrie, described by family as vibrant and independent, was last seen around 9:45 p.m. on Jan. 31 when relatives dropped her off after dinner. She was reported missing the next day. Pima County Sheriff’s officials quickly shifted the case from a missing person investigation to a suspected abduction, citing evidence she was taken by force. No suspects have been named, though authorities have not ruled out multiple perpetrators and have described the case as potentially targeted.
Nancy Guthrie & Savannah Guthrie
The family has offered a $1 million reward for information leading to Nancy’s safe return, while the FBI has added a $100,000 reward and urged tips via 1-800-CALL-FBI. In earlier public appeals, Savannah Guthrie and her siblings, Annie and Camron, addressed possible kidnappers directly, saying they received messages, were “ready to listen” and would pay to bring their mother home safely. They begged for proof of life, but none has been provided.
Guthrie told Kotb the family remains in constant contact with investigators and clings to hope despite the passage of time. Nancy requires daily medication for heart issues, including a pacemaker, raising concerns about her health. The family has repeatedly emphasized that time is critical.
The case has captivated the nation, drawing widespread media attention partly because of Guthrie’s high-profile role on “Today.” Doorbell camera video released by authorities shows a masked figure at the door in the early morning hours. Searches have involved extensive law enforcement resources, including the FBI, but no arrests have been made and few solid leads have emerged publicly.
Guthrie returned briefly to the “Today” studio earlier in March to thank colleagues but had stayed largely out of the spotlight until Tuesday’s sit-down. She has been focused on supporting her family and working behind the scenes to aid the search. Colleagues described her as resilient yet visibly strained by the ordeal.
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In the interview, Guthrie spoke of the “Nancy Guthrie effect,” noting how her mother’s disappearance has spotlighted other missing persons cases and renewed attention on families enduring similar pain. She expressed gratitude for the outpouring of support from viewers and strangers who have shared tips and prayers.
Security experts and former law enforcement officials have offered varying theories, with some suggesting a targeted abduction possibly linked to ransom demands involving Bitcoin, while others speculate it could involve multiple suspects or a botched home invasion. Megyn Kelly and others have discussed the possibility of a transnational criminal element, though authorities have not confirmed any theory.
The Guthrie family has stressed that Nancy’s loved ones, including spouses, are not suspects. The investigation remains active, with searches continuing in the Tucson area and beyond. Officials have recovered gloves and other items during sweeps, but no breakthrough has been announced.
Guthrie, 54, has balanced her high-pressure role on “Today” with personal challenges before, including raising two young children with husband Michael Feldman. Her transparency during the ordeal has drawn praise from viewers who see her as a relatable figure navigating unimaginable grief in the public eye.
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Kotb, who has known Guthrie for years and has faced her own family health struggles, gently guided the conversation, allowing moments of silence as Guthrie composed herself. The full interview is expected to delve deeper into family memories of Nancy, the toll on siblings and grandchildren, and messages of hope.
Nancy Guthrie was known as a devoted mother and grandmother who enjoyed an active life in retirement in the Tucson area. Family members have shared photos and stories highlighting her warmth and spirit, pleading for her safe return so the family can “celebrate with her.”
As the search enters its eighth week, the FBI and local authorities continue to appeal for tips. Anyone with information is urged to contact authorities immediately, as even small details could prove vital.
Guthrie’s appearance on “Today” marked a significant step in her public processing of the trauma while keeping the focus on finding her mother. She ended the excerpt with a direct message: “Mom, if you can hear this, we love you. We are fighting for you every day. Please hold on.”
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The case has also sparked broader conversations about elder safety, home security and the challenges of investigating abductions involving vulnerable adults. Advocacy groups for missing persons have noted increased awareness and tips in other cases since Nancy’s disappearance gained national attention.
NBC has supported Guthrie throughout, allowing her time away from regular duties while keeping her role on the show open. Co-anchors and contributors have filled in, sending frequent messages of solidarity.
As the two-part interview airs later this week, viewers are expected to hear more about the family’s daily reality, the strain of unanswered questions and their unwavering determination. Guthrie’s composure under immense personal pressure has been noted by colleagues as a testament to her strength.
For now, the Guthrie family continues to wait and hope. The $1 million reward remains active, and law enforcement vows not to give up. Savannah Guthrie’s emotional interview served as both a raw glimpse into a daughter’s pain and a renewed public call to action in one of the most closely watched missing persons cases in recent memory.
Fox News contributor Donna Rotunno and Kurt ‘CyberGuy’ Knutsson discuss jury deliberations in the social media addiction trial involving tech giants Meta and Google reaching a seventh day on ‘The Bottom Line.’
Meta is cutting hundreds of jobs Wednesday, the company confirmed to FOX Business.
A spokesperson said the layoffs are part of ongoing restructuring efforts, noting that the tech giant regularly adjusts its workforce to better align with its goals. The company is also working to place some affected employees into other roles where possible.
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“Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals,” the spokesperson said. “Where possible, we are finding other opportunities for employees whose positions may be impacted.”
In this photo illustration, the app icons of Facebook, Messenger, Instagram, WhatsApp and Oculus VR are displayed on a smartphone screen with a Meta logo. (Onur Dogman/SOPA Images/LightRocket via Getty Images / Getty Images)
The layoffs are expected to affect several key areas, including Reality Labs, recruiting operations and social media teams, according to The Information.
The move comes as Meta faces financial pressure tied to its aggressive investment in artificial intelligence infrastructure, Reuters reported.
A security guard stands watch by the Meta sign outside the headquarters of Facebook parent company Meta Platforms Inc. in Mountain View, Calif., Nov. 9, 2022. (Reuters/Peter DaSilva/File Photo / Reuters Photos)
Earlier this month, Reuters reported that the tech giant was planning layoffs that could affect 20% or more of its workforce as it looks to offset those costs and improve efficiency through AI-driven tools.
Meta had nearly 79,000 employees as of Dec. 31, according to Reuters.
Meta CEO Mark Zuckerberg leaves the federal courthouse in downtown Los Angeles after defending the company in a landmark social media addiction trial Feb. 19, 2026. (Jon Putman/Anadolu via Getty Images / Getty Images)
The job cuts also come amid legal challenges for the company.
A Los Angeles jury on Wednesday found Meta and Google liable in a closely watched case alleging their platforms were designed to addict young users, awarding $3 million in damages.
FOX Business’ Michael Sinkewicz contributed to this report.
Major League Baseball kicks off its 2026 regular season Wednesday night with a marquee Opening Night matchup between the New York Yankees and San Francisco Giants at Oracle Park, broadcast exclusively on Netflix in the league’s first streaming-only national game. The traditional Opening Day slate follows Thursday with 11 games, featuring star pitchers and defending champions chasing history in a campaign already shaped by a busy offseason and groundbreaking rule changes.
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The Yankees, seeking their first World Series title since 2009, send newly acquired left-hander Max Fried to the mound for his first Opening Day start with the club and fourth overall. Fried faces Giants ace Logan Webb, who makes his fifth consecutive Opening Day assignment. The game begins at 8:05 p.m. ET and marks Netflix’s debut as an MLB broadcast partner, available internationally with multiple language options.
Thursday’s full Opening Day card highlights several compelling storylines. Paul Skenes, the reigning National League Cy Young winner, takes the ball for the Pittsburgh Pirates against the New York Mets at Citi Field in a 1:15 p.m. ET contest aired on NBC and Peacock. Skenes helped Team USA finish second in the recent World Baseball Classic and enters the season as one of the game’s most dominant young arms.
The Los Angeles Dodgers, aiming for a third straight championship after winning in 2024 and 2025, host the Arizona Diamondbacks in the evening national telecast. Yoshinobu Yamamoto is expected to start for the Dodgers after closing out the 2025 World Series. Other notable Thursday games include the Detroit Tigers visiting the San Diego Padres with Tarik Skubal on the mound, and a battle of 2025 division winners as the Seattle Mariners host the Cleveland Guardians.
Six teams — the Athletics, Blue Jays, Braves, Marlins, Rockies and Royals — open their seasons Friday, March 27, completing the staggered start that makes 2026’s Opening Week the earliest in recent memory.
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A major innovation debuts Wednesday: the Automated Ball-Strike Challenge System, or ABS Challenge. Each team begins games with two challenges to review an umpire’s strike or ball call using Hawk-Eye tracking technology. Successful challenges do not count against the limit, adding strategy and reducing missed calls without fully automating the strike zone. The system, tested extensively in the minors and spring training, was approved by the Joint Competition Committee and will first appear during the Yankees-Giants game.
Offseason moves reshaped several rosters. The Dodgers added high-profile talent including Kyle Tucker, while the Mets and Pirates underwent significant changes. The Yankees retained core pieces around Aaron Judge, who homered multiple times in spring training exhibitions. Several teams return largely intact, including the Tigers, who rode strong pitching to contention in 2025.
Power rankings entering the season place the Dodgers firmly atop most lists, followed by clubs like the Mariners, Blue Jays and Cubs in varying order. The Philadelphia Phillies, who won the NL East in 2025 but fell short in the postseason, remain contenders alongside the Mets and other NL clubs.
Baseball fans can expect familiar traditions alongside fresh elements. Ballparks will feature ceremonial first pitches, parades of past heroes and fireworks in many cities. Attendance is projected to remain robust after strong 2025 figures, with Opening Day often drawing sellout or near-sellout crowds regardless of weather.
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The 162-game grind begins amid ongoing discussions about pace of play. While the pitch clock and other recent rules remain, the ABS Challenge introduces a new tactical layer that could slightly extend certain at-bats but aims to improve accuracy on the game’s most frequent calls.
Minor league experiments this season include moving second base slightly in some leagues, stricter limits on batter timeouts and checked-swing reviews, but those do not affect the majors yet. MLB continues evaluating potential future changes based on fan and player feedback.
Streaming and television coverage expands again in 2026. Beyond Netflix’s Opening Night, regional sports networks, MLB.TV and national packages on ESPN, Fox and others will carry the bulk of games. Fans without cable can access many contests through streaming services.
Injuries and roster battles dominated spring training chatter. Several clubs dealt with key players recovering from surgery or managing workload, but most projected starters appear ready for Opening Day. Depth remains critical in a long season where health often determines playoff fates.
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Young stars like Skenes, Yamamoto and emerging talents from the 2025 rookie class will shoulder heavier expectations. Veterans such as Judge, Freddie Freeman (if healthy with the Dodgers) and others provide leadership as teams chase October glory.
The 2026 schedule features balanced interleague play and divisional rivalries that intensify early. The Yankees’ West Coast trip to open against the Giants sets an intriguing tone, pitting two historic franchises with passionate fan bases against each other.
Commissioner Rob Manfred has emphasized growing the game globally while maintaining its American roots. International broadcasts, including Netflix’s multilingual options, align with that vision following successful World Baseball Classic viewership.
As pitchers and catchers reported weeks ago and position players joined later, optimism filled clubhouses. Managers spoke of new energy after the long winter, with players eager to test themselves against the best.
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For fantasy baseball enthusiasts and casual fans alike, Opening Day signals the unofficial start of spring. Predictions, projections and bold calls flood social media and broadcasts in the days leading up.
No matter the final standings in October, the 2026 season begins with hope in every dugout. From small-market rebuilders to big-spending contenders, each of the 30 clubs starts with a clean slate and 162 opportunities to make history.
Wednesday’s Netflix broadcast promises high production values and accessibility for new viewers. Thursday’s packed slate ensures something for everyone, whether rooting for a powerhouse or an underdog.
As the first pitches fly in San Francisco and across the league in coming days, baseball once again captures the nation’s attention. The boys of summer — or in this case, an early spring — return, promising drama, surprises and the timeless joy of America’s pastime.
McDonald’s Corp. shares rose modestly in early Wednesday trading, climbing to around $309 as investors responded positively to the fast-food giant’s aggressive value menu push aimed at reigniting traffic in a high-inflation environment that has kept budget-conscious diners away.
The stock was up about 0.45% at $309.23 in mid-morning dealings after closing Tuesday at $307.84, down 0.20% on the session. Shares traded in a range of roughly $308.11 to $310.78, with volume around 660,000 shares by late morning. The modest gain came as McDonald’s continues rolling out its “$3 and Under” value offerings and $4 breakfast bundles, one of the most significant price-focused promotions in recent years.
McDonald’s has faced pressure from cautious U.S. consumers trading down or skipping visits altogether. The new value menu, launched in March, includes everyday low prices on core items to rebuild foot traffic without heavily discounting premium offerings. Executives highlighted the initiative during recent investor updates, noting it builds on the strength of the company’s digital loyalty program, which generated nearly $37 billion in member sales last year.
The stock has pulled back from its 52-week high of $341.75 reached on March 2 but remains well above the low of $283.47 hit last June. Year-to-date performance is roughly flat to slightly positive, trailing the broader market as investors weigh near-term traffic challenges against the company’s long-term resilience and global scale. Market capitalization hovers near $219 billion.
Analysts largely maintain a bullish stance. The consensus 12-month price target sits around $342, implying potential upside of about 11%. Most ratings cluster in the “Buy” or “Hold” categories, with firms citing McDonald’s unmatched brand power, franchised business model and ability to adapt quickly to shifting consumer preferences. Recent quarterly results showed solid earnings beats, with EPS of $3.12 topping estimates and revenue rising nearly 10% year-over-year in the most recent reported period.
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The company operates more than 42,000 restaurants worldwide, with the vast majority franchised, providing steady royalty and fee income that helps cushion corporate-level pressures. For 2026, McDonald’s plans to open about 2,600 new locations and invest $3.7 billion to $3.9 billion in technology, restaurant modernizations and supply chain improvements. Systemwide sales growth is targeted near 2.5%.
Forward dividend of $7.44 annually yields roughly 2.42%, reinforcing McDonald’s appeal as a defensive dividend growth stock with decades of consecutive increases. The ex-dividend date for the latest payment was March 3. The stock’s beta of around 0.5 indicates lower volatility than the broader market, making it attractive during periods of economic uncertainty.
Insider selling has occurred in recent weeks, including transactions by McDonald’s USA President Joseph M. Erlinger and other executives. Such moves are often part of routine compensation and tax planning and do not necessarily signal diminished confidence, according to market observers.
Challenges remain. Persistent inflation has squeezed lower-income customers, prompting some to visit less often or opt for cheaper alternatives. Competition from other quick-service restaurants and emerging value players adds pressure. Comparable sales growth has decelerated from pandemic highs in certain markets, though international operations continue providing diversification.
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McDonald’s has leaned into digital innovation to offset these headwinds. The loyalty program boasts more than 210 million active 90-day users globally, driving higher check averages and repeat visits. A new McCafé beverage platform featuring energy drinks, refreshers and crafted sodas is slated for wider rollout this spring after successful tests. Delivery partnerships and mobile ordering continue expanding, enhancing convenience in a post-pandemic landscape.
Wall Street projections for full-year 2026 call for earnings per share around $12.25. First-quarter results are due in late April, with analysts closely watching for evidence that value initiatives are restoring traffic momentum. Operating margins are expected to hold steady in the mid- to high-40% range.
The broader consumer staples sector has seen mixed performance amid ongoing debates about the health of the U.S. consumer. While premium brands struggle with trading down, value-oriented players like McDonald’s are positioned to benefit if the new menu resonates. Some strategists view current share levels as an attractive entry point for long-term investors given the predictable cash flows and global footprint.
Over the past five years, McDonald’s stock has delivered total returns of roughly 54% excluding dividends, and nearly 150% over 10 years, underscoring its status as a core holding for many portfolios. Free cash flow remains robust, supporting both dividends and reinvestment in growth.
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As trading continued Wednesday, attention turned to any fresh corporate updates or macroeconomic data that could influence consumer spending sentiment. McDonald’s rarely sees sharp single-day moves, reflecting the stability of its business model, but sustained progress on traffic could catalyze a rebound toward analyst targets.
For retail investors, the Golden Arches offer exposure to a global consumer staple with defensive qualities and consistent income. The company’s ability to innovate on menu pricing, digital tools and international expansion positions it well for whatever economic conditions lie ahead.
Whether the latest value push successfully counters softness in U.S. traffic will be a key narrative in coming months. For now, McDonald’s shares trade in a relatively tight range, reflecting balanced views on near-term challenges and enduring brand strength. The stock’s modest early gain Wednesday suggests investors are giving the company the benefit of the doubt as it fights to win back everyday diners one affordable meal at a time.
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