Precigen, Inc. (NASDAQ:PGEN) is one of the best healthcare penny stocks to buy now. On September 2, the company entered into a credit facility agreement with investment funds managed by Pharmakon Advisors.
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The company will have access to a credit line of up to $125 million, divided into two tranches of $100 million and $25 million. The credit facility is poised to strengthen the company's balance sheet, leaving it in a solid position to accelerate the commercialization of PAPZIMEOS, a groundbreaking novel immunotherapy.
The financing line will also allow the company to accelerate its efforts in international markets and pursue pediatric and additional HPV-related indications. Robust commercialization will enable the company to generate revenue from PAPZIMEOS and deliver meaningful growth.
"Strengthening our balance sheet provides us with the financial flexibility to commercialize PAPZIMEOS while advancing our broader strategic objectives as Precigen enters a period of projected significant growth," said Harry Thomasian, Jr., Chief Financial Officer of Precigen.
Precigen, Inc. (NASDAQ:PGEN) is a biopharmaceutical company that focuses on developing gene and cell therapies for diseases that are difficult to treat, including those in areas such as immuno-oncology, autoimmune disorders, and infectious diseases.
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Disclosure: None. This article is originally published at Insider Monkey.