Precigen Inc.

# Signal Note: Driehaus Capital Initiates PGEN Position Driehaus's $15.1M entry into Precigen suggests conviction in the company's pipeline, likely driven by its lead asset PRGN-2012 (an immunotherapy for solid tumors) or potential clinical readouts in 2024-2025. The $15.1M allocation (~3.6M shares at ~$4.20/share) indicates moderate conviction sizing typical of early-stage biotech bets with meaningful binary catalysts. This move is noteworthy given Driehaus's selective biotech positioning—initiating rather than adding to existing positions suggests management confidence in near-term value inflection.