Can Papzimeos Drive Precigen's Growth Through the Rest of 2026?

Precigen PGEN is making steady progress on the back of strong commercial performance from its sole marketed drug Papzimeos (zopapogene imadenovec-drba). The product remains a key top-line driver for the company.

Papzimeos is currently the first and only FDA-approved therapy for adults with recurrent respiratory papillomatosis (RRP). The drug provides Precigen with a differentiated commercial position and a potentially durable revenue base.

The therapy has demonstrated strong early commercial momentum since its approval and launch in 2025. In the first six months of 2026, the product generated $74.6 million in revenues. Importantly, product revenues from Papzimeos sales more than doubled sequentially during the second quarter of 2026.

Management noted that Papzimeos demand was continuing to grow as the third quarter progressed. The sustained commercial momentum could support further revenue growth for Precigen through the remainder of 2026.

Sales are expected to grow steadily as Precigen expands its commercial footprint and strengthens its marketing infrastructure, driving continued momentum for Papzimeos.

PGEN Thrives on Papzimeos Commercial Uptake

Precigen is pursuing additional growth opportunities outside the United States.

Precigen’s marketing authorization application, seeking approval for Papzimeos to treat adults with RRP, is currently under review. Approval in Europe could further boost revenue growth.

Meanwhile, Papzimeos benefits from seven years of FDA market exclusivity through Aug. 14, 2032. Combined with its first-in-class position and lack of an approved competing therapy for adult RRP, this protection allows Precigen to establish a durable commercial franchise before potential competitors enter the market.

Inovio Pharmaceuticals INO is developing its lead candidate, INO-3107, a DNA-based immunotherapy as a treatment for RRP.

Inovio’s biologics license application for INO-3107 is currently under review in the United States, with a decision from the FDA expected on Oct 30, 2026. INO remains focused on advancing the INO-3107 program toward a potential 2026 approval and commercialization.

Beyond Papzimeos, Precigen retains pipeline potential through its AdenoVerse platform. The company is developing PRGN-2009, an investigational AdenoVerse immunotherapy in HPV-driven cancers.

A multicenter phase II study is evaluating PRGN-2009 in combination with Merck’s MRK blockbuster PD-L1 inhibitor, Keytruda (pembrolizumab), in patients with recurrent or metastatic cervical cancer.

Merck’s biggest revenue driver, Keytruda, is approved for several types of cancers globally.

Precigen plans to provide an update on the broader AdenoVerse portfolio, including PRGN-2009, by the end of 2026.

PGEN’s Price Performance, Valuation and Estimates

Year to date, shares of Precigen have rallied 62.7% compared with the industry’s rise of 8.3%. The stock has also outperformed the sector and the S&P 500 during the same time frame, as seen in the chart below.

Image Source: Zacks Investment Research

From a valuation standpoint, Precigen is trading at a premium to the industry. Going by the price/book ratio, the stock currently trades at 55.63 times trailing 12-month book value, higher than 3.91 times for the industry. The stock is also trading above its five-year mean of 4.29.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for 2026 bottom line has improved from a loss of 2 cents per share to earnings of 25 cents over the past 60 days. During the same time, earnings estimates for 2027 have increased from 25 cents per share to 86 cents during the same time.

Image Source: Zacks Investment Research

PGEN’s Zacks Rank

Precigen currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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