Precigen, Inc. has recently released its 10-K report, providing a detailed insight into the company's operations and financials. The company operates as a discovery and clinical-stage biopharmaceutical company, focusing on developing gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. Precigen operates through two segments, Biopharmaceuticals and Exemplar, offering therapeutic platforms such as UltraCAR-T, AdenoVerse immunotherapy, and ActoBiotics, along with developing various programs based on these platforms. The company also provides UltraPorator, a proprietary electroporation device, and research models and services for healthcare research applications. Formerly known as Intrexon Corporation, Precigen, Inc. was founded in 1998 and is headquartered in Germantown, Maryland.
In its 10-K report, Precigen, Inc. emphasizes the importance of cybersecurity risk management as an integral part of its overall enterprise risk management processes. The company's cybersecurity risk management program is managed by its security steering team, designed to align with industry best practices. This program provides a framework for identifying, monitoring, assessing, and responding to cybersecurity threats and incidents, facilitating coordination across different departments of the company. Precigen's security steering team is responsible for assessing and maintaining the cybersecurity risk program and engages third-party cybersecurity experts for risk assessment and system enhancements. The company also provides training to all employees during the initial onboarding process and conducts tabletop exercises to assess its cybersecurity readiness on an annual basis. Despite its efforts, Precigen acknowledges that it cannot eliminate all risks from cybersecurity threats or incidents and cannot provide assurances that it has not experienced an undetected cybersecurity incident. The company's management, including the Chief Operating Officer, is responsible for identifying and assessing cybersecurity risks on an ongoing basis and establishing processes designed to ensure that potential cybersecurity risk exposures are monitored and appropriate mitigation and remediation measures are put in place. The board of directors has overall oversight responsibility for the company's risk management and is charged with oversight of its cybersecurity risk management program.
As a result of these announcements, the company's shares have moved 7.2% on the market, and are now trading at a price of $1.79. For the full picture, make sure to review Precigen's 10-K report.
