What’s Going on with Precigen Inc?
Precigen Inc (PGEN) announced yesterday, June 10, positive topline 1b/2a study results for the biotechnology firm’s AG019 ActoBiotics™ treatment. AG019 ActoBiotics™ is being designed to tackle the primary causes of recent-onset type 1 diabetes (T1D). During pre-market trading today, PGEN stock saw big increases, gaining 30.04% to reach $9.09 a share.
What Does This Mean for PGEN?
Phase 1b/2a clinical study data results related to the investigation of AG019 ActoBiotics™ were recently presented at the Federation of Clinical Immunology Societies 2021 Virtual Annual Meeting. Currently, an approved disease-modifying treatment for T1D (like AG019) does not exist. Treatment typically involves lifestyle and diet modification, along with exogenous insulin.
"The primary analysis shows that AG019 can be administered safely, either as a monotherapy or in combination with teplizumab and provides an opportunity for chronic treatment of T1D," MD Kevan Herold, Professor of Immunobiology and of Medicine at Yale University, as well as principal investigator for the AG019 Phase 1b/2a clinical study, explained.
Precigen is encouraged by the Phase 1b/2a primary analysis results for its new T1D approach and plans on assessing the efficacy of prolonged treatment for diabetes patients taking oral AG019.
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Precigen Inc is a biotechnology company that develops synthetic biology solutions. The company designs, builds, and regulates gene programs. Its technologies are broadly applicable across a wide range of diverse end markets. Intrexon's business model is to commercialize its technologies through exclusive channel collaborations with collaborators that have specific industry expertise, development resources, and sales and marketing capabilities, in order to bring new and improved products and processes to market. The company's collaborators provide compensation through technology access fees, royalties, milestones, and reimbursement of certain costs.
