Precigen Inc (Nasdaq: PGEN), a biopharmaceutical company specialising in the development of innovative gene and cell therapies to improve the lives of patients, announced its financial results for 2019 on Monday.

The company reported total revenues from continuing operations of USD90.7m in 2019, a decrease of USD60.5m from the year ended 31 December 2018.

The firm posted net loss of USD322.3m in 2019, of which USD116.2m was from discontinued operations and an additional USD70.4m was for non-cash charges related to continuing operations.

Dr Helen Sabzevari, PhD, president and CEO of Precigen said, 'I am confident that we will make important advances this year in our mission to improve patient care through innovative gene and cell therapies. We enter 2020 with cash resources that we believe are sufficient for us to deliver on several value-creating milestones during the year across our clinical pipeline. At the same time, we are laser-focused on aligning our portfolio, streamlining operations and maximising organisational structures to improve operational efficiency going forward.'