Precigen Inc., a biopharmaceutical company, reported its financial results for the first quarter of 2025, highlighting a significant shift in its financial metrics. The company experienced a change in total other income (expense), net, which shifted from an income of $0.6 million in the first quarter of 2024 to an expense of $31.6 million in the same period in 2025. This shift was primarily due to a $32.5 million increase in the fair value of warrant liabilities, influenced by a rise in Precigen's stock price and an increase in the liability related to additional warrants from paid-in-kind dividends of Series A Preferred Stock. This was partially offset by a $0.3 million increase in interest income due to higher investment balances. Precigen reported a net loss of $54.2 million, compared to a net loss of $23.7 million in the first quarter of 2024. The non-cash change in the fair value of warrant liabilities decreased the basic and diluted earnings per share by $0.11 in the first quarter of 2025. Additionally, the company ended the quarter with $81 million in cash, cash equivalents, and investments. Precigen's CFO, Harry Thomasian Jr., stated that this cash position is expected to fund operations into 2026, even considering a potential commercial launch of PRGN-2012 later in 2025.