Precigen Inc (PGEN) stock down 9% on public offering

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Precigen Inc (PGEN)‎ is a clinical-stage biopharmaceutical company that is advancing the next generation of gene and cell therapies using state-of-the-art technology to target the most viable diseases. The company works on the redefined desire for innovation with a preclinical and a clinical pipeline of unique therapies that are safe and ready for commercialization. The stock declined 9.19% to $8.30 in the premarket trading on Friday.

The biopharmaceutical began an underwritten public offering of shares of its common stock. The company intends to grant the underwriter a 30-day option to purchase additional shares in the common stock. The offering is subject to various market conditions and guidelines. Under this pretense, there is no assurance of any kind if the offering will be completed or not.

Wells Fargo Securities and Stifel are acting as joint book-running managers, whereas JMP securities will handle as lead co-managers and H.C. Wainwright will act as co-managers.

Wells Fargo is an American multinational financial service company that provides Asset Management Service and is famous for Cross-Selling. JMP’s securities are one of America’s most well-recognized and respected middle-market investment banks. It has an extremely strong team of professionals and a broad client base across four growth segments of the economy.

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