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Intrexon (XON) Reports Narrower-Than-Expected Loss in Q3

Intrexon Corporation XON incurred a loss of 22 cents per share (excluding a non-cash charge of $19.5 million) in the third quarter, narrower than the Zacks Consensus Estimate of a loss of 24 cents. However, the loss was wider than the year ago loss of 14 cents.

Total revenues came in at $23 million, reflecting a 29% decline from the year-ago quarter. The top line also missed the Zacks Consensus Estimate of $32 million.

Shares of the company have lost 23.4% year to date compared with the industry’s decline of 13.4%.

Recent Business Highlights

Intrexon’s sales primarily consist of collaboration and licensing, product, and service revenues.

Collaboration and licensing revenues in the reported quarter decreased 56.8% from the prior-year quarter to $6.2 million.

Product revenues came in at $5.9 million, down 14.3% from the year-ago period. Service revenues totaled $9.9 million, down 4.7% year over year.

Intrexon follows a business model, per which it commercializes its technologies through exclusive channel collaborations, licensing agreements and joint ventures with companies, which have market and product development expertise, and sales and marketing capabilities to bring new and improved products and processes to the market. Such agreements provide the company with funds in the form of technology access fees, milestones, and other payments.

Intrexon announced alignment of its operations into two units — Intrexon Health and Intrexon Bioengineering — to better deploy resources, realize inherent synergies and drive growth with a core focus on healthcare.

Meanwhile, the company is developing several candidates in partnership with other companies.

Intrexon structured its principal healthcare assets into two wholly-owned subsidiaries — Precigen, Inc. and ActoBio Therapeutics, Inc. — which began operating as two separate entities from Jan 1, 2018. Precigen is a gene and cell therapy company developing precision medicines, while ActoBio Therapeutics is focused on the therapeutic delivery of biologics to the site of disease via its proprietary.

Triple-Gene LLC, a majority-owned subsidiary of Intrexon, completed patient enrollment and dosing for the second cohort in its phase I study of INXN-4001, an investigational new drug which is the world's first triple effector gene drug candidate being evaluated for the treatment of heart failure.

ActoBio Therapeutics received a go-ahead from the independent Data and Safety Monitoring Board to open the randomized part of the adult combination cohort and the open-label part of the adolescent combination cohort in its phase Ib/IIa clinical trial of AG019 for the treatment of early onset type I diabetes.

Intrexon closed its Animal Sciences Division and Cell Engineering Unit.


Intrexon Corporation Price, Consensus and EPS Surprise


Intrexon Corporation price-consensus-eps-surprise-chart | Intrexon Corporation Quote

Zacks Rank & Stocks to Consider

Intrexon currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the same sector are Apollo Medical Holdings Inc. AMEH, Premier Inc. PINC and  LHC Group Inc. LHCG, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apollo Medical’s earnings per share estimates have increased from 33 cents to 40 cents for 2019 and from 40 cents to $1.27 for 2020 in the past 60 days.

Premier’s earnings per share estimates have increased from $2.83 to $2.84 for 2020 and from $3.02 to $3.06 for 2021 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters by 3.48% on average.  

LHC Group’s earnings per share estimates have risen from $4.34 to $4.43 for 2019 and from $4.57 to $4.67 for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters by 8.14% on average.

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