re: PGEN stock -- potential solid long

Let's go!!!

Solid earnings report. Up over 15% premarket. $4.84/share.

Here we are in August and PGEN is now at $7.10 after reporting 2Q earnings numbers.

my PGEN is up


*checks notes*


81%

I'm very sorry to hijack, but I wanted to put IVVD on y'alls radar.

Phase 3 readout is expected today or next week.

277mm market cap
160mm cash
0 debt
TTM Revenue 55mm
3-4 quarters of runway

If the company gets acquired for $5 billion or more, the CEO personally receives 0.5% to 1.5% of the total deal price.
On a $5 billion sale that's $25 to $75 million bonus.

He was handed that agreement days before the Phase 3 data drops.

What's the drug about? (VYD2311)

Big Pharma has spent years and hundreds of millions of dollars on a simple question:

Can we give people a shot that prevents COVID — without it being a vaccine?

Not mRNA. Not spike proteins. Just pre-made antibodies, injected into your arm twice a year, that fight COVID before it can make you sick. The same kind of antibodies your body would make naturally if it beat the virus — just delivered directly, skipping the whole immune system process entirely.

They recruited 2,400 volunteers. Half got the shot. Half got a placebo. Nobody knew which was which. Then they watched who got COVID.

The results come out in the next five days.

If the shot worked — meaning significantly fewer people in the antibody group got COVID compared to the placebo group — the company goes to the FDA and says: approve this. If approved, there's finally a non-vaccine option for the millions of people who've stopped getting COVID shots but are still worried about getting seriously ill. Older people. Immunocompromised people. People who don't want mRNA but do want protection.

If it didn't work, the company is in serious trouble. Their only approved product is on a regulatory clock, (that's the 55mm revenue) their cash runs out in about a year, and there's no backup plan big enough to matter.

Our favorite...

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The point in plain English:

The FDA required Pfizer, Moderna, and Novavax to run massive, expensive post-approval studies as a condition of their COVID vaccine approvals. Tens of thousands of patients, years of follow-up, onerous safety monitoring requirements.

The FDA told Invivyd the bar to file and potentially approve VYD2311 is lower than what they demanded from the vaccine makers.

That's a meaningful regulatory signal. It means either the FDA views antibody-based prevention as lower-risk than mRNA vaccines and therefore requiring less post-market scrutiny — or the political environment under RFK Jr.'s influence on health policy has made the agency more accommodating to non-vaccine COVID prevention approaches — or both.

The RFK Jr. angle is the politically charged part. The new administration is openly skeptical of mRNA vaccines. An agency operating under that political environment may be more favorably disposed toward approving an alternative that gives vaccine-hesitant Americans a different option. That's not conspiracy — it's regulatory politics, which has always influenced FDA decision-making regardless of who's in charge.

The "kinda makes you go hmmmm" is Feuerstein — who is one of the more credible biotech journalists in the business — noting that the regulatory path for VYD2311 appears easier than the path was for the products it's competing against. Whether that's fair or scientifically justified is a separate debate. What it means for the investment is that the approval probability may be higher than a standard Phase 3 success rate would imply.

Invaluable.
A word in IBRX? ABSI?

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New ABVX data. It is an incredible drug. Insanely cheap sub 100.