🔴 Precigen is trading 7.7% down today as FDA approval raises competition concerns for Papzimeos

Precigen is trading at $4.75, down 7.71%, as FDA approval of Inovio’s competing RRP treatment raises competition concerns for Papzimeos.

• Reports tied an earlier sharp sell-off to the approval.
• Precigen is scheduled to report third-quarter results and provide business updates after the market closes on November 4; results were not yet available at 10:12 a.m. ET.
• The broader market and biotech sector were reported higher, so they explain the decline less well than competition concerns.