Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information and Holders of Record
Our common stock trades on the Nasdaq Global Select Market, or Nasdaq, under the symbol "PGEN".
As of February 15, 2021, we had 287 holders of record of our common stock. The actual number of shareholders is greater than this number of record holders and includes shareholders who are beneficial owners but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include shareholders whose shares may be held in trust by other entities.
Dividends
We have never declared or paid any cash dividends on our capital stock. We currently intend to retain earnings, if any, to finance the growth and development of our business and do not expect to pay any cash dividends on our common stock in the foreseeable future.
Securities Authorized for Issuance Under Equity Compensation Plans
Information about our equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report.
Stock Performance Graph
This performance graph shall not be deemed "soliciting material" or to be "filed" with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of Precigen, Inc. under the Securities Act of 1933, as amended, or the Exchange Act.
The following graph shows a comparison from December 31, 2015 through December 31, 2020 of the cumulative total return for our common stock; the Standard & Poor's 500 Stock Index, or the S&P 500 Index; and the Nasdaq Biotechnology Index. The graph assumes that $100 was invested at the market close on December 31, 2015 in the common stock of Precigen, Inc., the S&P 500 Index, and the Nasdaq Biotechnology Index, and data for the S&P 500 Index and the Nasdaq Biotechnology Index assumes reinvestments of dividends. The stock price performance of the following graph is not necessarily indicative of future stock price performance.
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Company / Index Base Period 12/31/2015 3/31/2016 6/30/2016 9/30/2016 12/31/2016
Precigen, Inc. $ 100.00 $ 112.40 $ 81.63 $ 92.94 $ 80.60
S&P 500 Index 100.00 101.35 103.84 107.84 111.96
N asdaq Biotechnology Index
100.00 77.12 76.25 85.78 78.65
Company / Index 3/31/2017 6/30/2017 9/30/2017 12/31/2017 3/31/2018 6/30/2018 9/30/2018 12/31/2018
Precigen, Inc. $ 66.41 $ 80.72 $ 63.70 $ 38.60 $ 51.36 $ 46.71 $ 57.70 $ 21.91
S&P 500 Index 118.76 122.43 127.92 136.42 135.38 140.03 150.83 130.44
Nasdaq Biotechnology Index 87.17 92.31 99.46 95.69 95.75 98.69 109.74 87.21
Company / Index 3/31/2019 6/30/2019 9/30/2019 12/31/2019 3/31/2020 6/30/2020 9/30/2020 12/31/2020
Precigen, Inc. $ 17.62 $ 25.67 $ 19.17 $ 18.36 $ 11.39 $ 16.72 $ 11.73 $ 34.18
S&P 500 Index 148.24 154.62 157.24 171.50 137.89 166.22 181.06 203.06
Nasdaq Biotechnology Index 100.76 98.50 90.00 109.11 97.90 124.23 123.21 137.93
Recent Sales of Unregistered Securities and Use of Proceeds from Registered Securities
(a) Sales of Unregistered Securities
None.
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(b) Use of Proceeds
None.
(c) Issuer Purchases of Equity Securities
None.
Item 6. Selected Financial Data
The following tables set forth our selected consolidated financial data for the periods and as of the dates indicated. You should read the following selected consolidated financial data in conjunction with our audited consolidated financial statements and the related notes thereto included elsewhere in this Annual Report and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of this Annual Report.
The selected consolidated financial data set forth below as of December 31, 2020 and 2019, and for the years ended December 31, 2020, 2019 and 2018, are derived from our audited consolidated financial statements included elsewhere in this Annual Report. The selected consolidated financial data set forth below as of December 31, 2018, 2017, and 2016, and for the years ended December 31, 2017 and 2016, are derived from our audited consolidated financial statements contained in reports previously filed with the SEC, not included herein. Our audited consolidated financial statements have been prepared in United States dollars in accordance with U.S. GAAP. The selected consolidated financial data in the below tables have been adjusted to reflect the effects of discontinued operations. See "Notes to the Consolidated Financial Statements - Note 3" appearing elsewhere in this Annual Report.
Our historical results for any prior period are not necessarily indicative of results to be expected in any future period.
Year Ended December 31,
2020 2019 2018 2017 2016
(In thousands, except share and per share amounts)
Statements of Operations Data:
Collaboration and licensing revenues $ 21,208 $ 14,059 $ 69,540 $ 134,624 $ 97,160
Product revenues 24,349 23,780 28,486 33,585 36,958
Service revenues 56,899 51,803 52,419 50,611 43,049
Total revenues (1) 103,178 90,722 151,178 219,463 177,607
Total operating expenses 189,781 257,511 520,845 285,354 252,424
Operating loss (86,603) (166,789) (369,667) (65,891) (74,817)
Loss from continuing operations (103,773) (170,334) (380,487) (50,420) (131,838)
Net loss attributable to noncontrolling interests — 1,592 5,370 9,802 3,662
Net loss from continuing operations attributable to Precigen (103,773) (168,742) (375,117) (40,618) (128,176)
Net loss from continuing operations attributable to Precigen per share, basic and diluted $ (0.62) $ (1.09) $ (2.90) $ (0.34) $ (1.09)
Weighted average shares outstanding, basic and diluted 167,065,539 154,138,774 129,521,731 119,998,826 117,983,836
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December 31,
2020 2019 2018 2017 2016
(In thousands)
Balance Sheet Data:
Cash and cash equivalents $ 51,792 $ 65,793 $ 96,876 $ 59,251 $ 60,217
Short-term and long-term investments 48,325 9,260 119,614 6,273 180,595
Total assets (2) 314,587 455,763 716,177 846,851 949,068
Deferred revenue, current and non-current (1) 25,823 53,833 57,816 226,343 298,842
Long-term debt (3) 171,882 217,991 211,695 8,037 7,948
Other liabilities (4) 49,708 112,228 67,944 65,926 73,030
Total Precigen shareholders' equity 67,174 71,711 362,855 533,631 560,237
Noncontrolling interests — — 15,867 12,914 9,011
Total equity 67,174 71,711 378,722 546,545 569,248
(1) Revenues and deferred revenue in 2020, 2019, and 2018 are accounted for under ASC Topic 606, Revenue from Contracts with Customers , or ASC 606, and revenues and deferred revenue prior to 2018 are accounted for under ASC 605, Revenue Recognition , or ASC 605. We adopted ASC 606 on January 1, 2018 using the modified retrospective method, which applies the changes in accounting prospectively and does not restate prior periods. See "Notes to the Consolidated Financial Statements - Notes 4, 6, and 18" for discussions of transactions in 2018 resulting in a decrease in the balances of deferred revenue.
(2) Total assets include $191, $161,225, and $129,545 of investments in preferred stock as of December 31, 2018, 2017, and 2016, respectively. In conjunction with the ZIOPHARM License Agreement in 2018, all of our ZIOPHARM preferred shares were returned to ZIOPHARM. See "Notes to the Consolidated Financial Statements - Notes 10 and 11" for discussions of impairment losses on goodwill and other noncurrent assets recognized in 2020 and 2019.
(3) In 2018, we completed a registered underwritten public offering of $200,000 aggregate principal amount of Convertible Notes.
(4) Other liabilities include $8,801 of deferred consideration as of December 31, 2016.