PROG Progenity Inc.

2.92
+0.41  (+17%)
Previous Close 2.5
Open 2.34
52 Week Low 0.657
52 Week High 8.5657
Market Cap $386,936,083
Shares 132,739,651
Float 95,622,033
Enterprise Value $454,033,850
Volume 142,477,247
Av. Daily Volume 58,319,073
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Latest News

  1. SAN DIEGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the company will participate in the fourth annual IBD Innovate Product Development for Crohn's & Colitis virtual conference, hosted by the Crohn's & Colitis Foundation, November 18-19, 2021.

    Progenity's Vice President of Strategy and Operations, Chris Wahl, MD, MBA, will present as part of a session titled "Novel Drug Delivery Technologies" on Thursday, November 18, at 2:25 p.m. Eastern. The presentation will be live-streamed and will be available for viewing after the event to registered attendees.

    The presentation will focus on Progenity's novel Drug Delivery System (DDS), currently under development, which…

    SAN DIEGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the company will participate in the fourth annual IBD Innovate Product Development for Crohn's & Colitis virtual conference, hosted by the Crohn's & Colitis Foundation, November 18-19, 2021.

    Progenity's Vice President of Strategy and Operations, Chris Wahl, MD, MBA, will present as part of a session titled "Novel Drug Delivery Technologies" on Thursday, November 18, at 2:25 p.m. Eastern. The presentation will be live-streamed and will be available for viewing after the event to registered attendees.

    The presentation will focus on Progenity's novel Drug Delivery System (DDS), currently under development, which is designed to improve patient outcomes in ulcerative colitis by increasing the available dose at the site of disease while reducing systemic toxicity.

    About the Drug Delivery System (DDS)

    Progenity's Drug Delivery System (DDS) is an ingestible capsule designed for targeted delivery of therapeutics to improve treatment of gastrointestinal disease. For the 1.8 million patients in the United States who suffer from inflammatory bowel disease (IBD), existing therapeutics offer less than ideal efficacy because of the challenges with safely achieving therapeutic drug levels in the affected tissues.

    The DDS promises an alternative therapeutic platform that could maximize the available dose at the site of disease while reducing systemic toxicity. Once swallowed, the DDS smart capsule is designed to autonomously identify when it has arrived at a designated location in the intestine, and release drug at the site of disease.

    Progenity is currently in preclinical development of its lead candidates, PGN-001 (liquid adalimumab delivered by the DDS) and PGN-600 (liquid tofacitinib, a JAK inhibitor, delivered by the DDS) and is preparing to initiate early clinical studies in 2022. Progenity was a recipient of the Crohn's and Colitis Foundation IBD Ventures development grant in 2021 to support development and further clinical evaluation of the DDS platform.

    About Progenity

    Progenity, Inc. is a biotechnology company innovating in the fields of women's health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity's vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

    For more information visit www.progenity.com, or follow the company on LinkedIn or Twitter.

    Forward Looking Statements

    This press release contains "forward-looking statements," which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts, included in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "estimate," "predict," "potential," "develop," "plan" or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause Progenity's actual results to differ materially from the forward-looking statements expressed or implied in this press release, including Progenity's ability to successfully develop and commercialize its products under development, the uncertainties inherent in the development process, such as the regulatory approval process, the timing of regulatory filings, and other matters, including the ongoing COVID-19 pandemic, that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of Progenity's products, and those risks described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Progenity's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 18, 2021, and other subsequent documents we file with the SEC, including but not limited to Progenity's Quarterly Reports on Form 10-Q. Progenity claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Progenity expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.

    Investor Contact:

    Robert Uhl

    Managing Director, Westwicke ICR

    ir@progenity.com

    (619) 228-5886

    Media Contact:

    Kate Blom-Lowery

    CG Life

    media@progenity.com

    (619) 743-6294



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  2. SAN DIEGO, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the United States Patent and Trademark Office (USPTO) has issued four patents related to its ingestible technologies for delivery of therapeutics via the gastrointestinal (GI) tract.

    The USPTO has issued U.S. Patent No. 11,007,356 entitled, "Ingestible device for delivery of therapeutic agent to the gastrointestinal tract." The patent is directed to methods and devices for delivery of a therapeutic agent into gastrointestinal tissue for systemic uptake. Progenity's Oral Biotherapeutic Delivery System (OBDS), currently under development, is designed for systemic, needle-free delivery of biotherapeutics via…

    SAN DIEGO, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the United States Patent and Trademark Office (USPTO) has issued four patents related to its ingestible technologies for delivery of therapeutics via the gastrointestinal (GI) tract.

    The USPTO has issued U.S. Patent No. 11,007,356 entitled, "Ingestible device for delivery of therapeutic agent to the gastrointestinal tract." The patent is directed to methods and devices for delivery of a therapeutic agent into gastrointestinal tissue for systemic uptake. Progenity's Oral Biotherapeutic Delivery System (OBDS), currently under development, is designed for systemic, needle-free delivery of biotherapeutics via an ingestible device. Preclinical work to date has demonstrated the ability of the OBDS to achieve bioavailability of up to 44% for proteins.

    The USPTO has also issued U.S. Patent No. 11,033,490 for treatment of inflammatory conditions of the gastrointestinal tract with a Janus kinase (JAK) inhibitor. The patent covers methods of treating ulcerative colitis using an ingestible device that delivers a JAK inhibitor directly to the proximal part of the large intestine. As part of its GI-targeted therapeutics program, Progenity is preparing to initiate early clinical studies of its PGN-600 program for targeted delivery of a proprietary formulation of tofacitinib, a JAK inhibitor, to the site of disease using Progenity's Drug Delivery System (DDS), also under development. Earlier this year the company completed preclinical work with PGN-600 demonstrating at least 25 times more tofacitinib in colon tissue and less drug in blood compared to an equivalent standard oral dose.

    In addition, the USPTO has issued U.S. Patent No. 11,134,889 entitled, "Treatment of a disease of the gastrointestinal tract with a SMAD7 inhibitor," and U.S. Patent No. 10,980,739 entitled, "Treatment of a disease of the gastrointestinal tract with a chemokine/chemokine receptor inhibitor." These patents are part of the company's GI-targeted therapeutics portfolio, which includes more than 170 issued patents and pending applications directed to seventeen inflammatory bowel disease targets, including TNF-alpha, IL-12/23, and integrins.

    "We believe we hold one of the most robust ingestible device patent portfolios," said Eric d'Esparbes, interim CEO of Progenity. "The addition of these recent patents further strengthens our intellectual property position and underscores our commitment to innovation in advancing therapeutic discovery, development, and delivery."

    The Progenity patent portfolio consists of 96 patent families, including 180 issued patents and more than 220 pending applications. The portfolio includes patents and applications directed to methods and devices for drug delivery, methods and devices for GI sampling and diagnostics, methods and compositions for treating disease, and molecular and protein tools, assays and diagnostics.

    About the Oral Biotherapeutic Delivery System (OBDS)

    Progenity's Oral Biotherapeutic Delivery System (OBDS) is an ingestible capsule designed for needle-free, oral delivery of large molecules, including monoclonal antibodies, peptides, and nucleic acids. These substances cannot survive stomach acids and are too large to be absorbed in the intestine and are therefore currently delivered by injection. Once swallowed, the OBDS capsule is designed to transit the intestinal tract and trigger in the small intestine, where it will use liquid jet release to inject drug directly into the small intestine for optimal bioavailability.

    The OBDS platform is designed to enable delivery of liquid drug, eliminating the need for reformulation, and allows for industry-leading dosing of over 50 mg of proteins and over 5 mg of peptides. This makes the technology broadly applicable for large molecule candidates. With more frequent administration, oral delivery has the potential to improve drug efficacy and safety as compared to current injection regimens.

    Progenity is currently conducting preclinical studies to demonstrate the bioavailability of its lead candidates PGN-OB1 (adalimumab, delivered by the OBDS) and PGN-OB2 (liraglutide, a GLP-1 agonist, delivered by the OBDS). In addition, the company has an agreement with Ionis Pharmaceuticals to evaluate the OBDS for delivery of antisense oligonucleotides, and it has two other agreements with leading pharmaceutical companies to evaluate delivery of their proprietary drugs via the OBDS platform.

    About the Drug Delivery System (DDS)

    Progenity's Drug Delivery System (DDS) is an ingestible capsule designed for targeted delivery of therapeutics to improve treatment of gastrointestinal disease. For the 1.8 million patients in the United States who suffer from inflammatory bowel disease (IBD), existing therapeutics offer less than ideal efficacy because of the challenges with safely achieving therapeutic drug levels in the affected tissues.

    The DDS promises an alternative therapeutic platform that could maximize the available dose at the site of disease while reducing systemic toxicity. Once swallowed, the DDS smart capsule is designed to autonomously identify when it has arrived at a designated location in the intestine, and release drug at the site of disease.

    Progenity is currently in preclinical development of its lead candidates, PGN-001 (liquid adalimumab delivered by the DDS) and PGN-600 (liquid tofacitinib, a JAK inhibitor, delivered by the DDS) and is preparing to initiate early clinical studies in 2022. Progenity was a recipient of the Crohn's and Colitis Foundation IBD Ventures development grant in 2021 to support development and further clinical evaluation of the DDS platform.

    About Progenity

    Progenity, Inc. is a biotechnology company innovating in the fields of women's health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity's vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

    For more information visit www.progenity.com, or follow the company on LinkedIn or Twitter.

    Forward Looking Statements

    This press release contains "forward-looking statements," which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts, included in this press release are forward-looking statements. Forward-looking statements include statements regarding Progenity's development of and preclinical and clinical studies evaluating the OBDS, DDS and related products under development, the estimated addressable market size for such products and the potential uses for such products in the United States and globally. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "estimate," "predict," "potential," "develop," "plan" or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause Progenity's actual results to differ materially from the forward-looking statements expressed or implied in this press release, including Progenity's ability to successfully develop and commercialize its products under development, the uncertainties inherent in the development process, such as the regulatory approval process, the timing of regulatory filings, the ability to identify potential partners and other matters, including the ongoing COVID-19 pandemic, that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of Progenity's products, and those risks described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Progenity's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 18, 2021, and other subsequent documents we file with the SEC, including but not limited to Progenity's Quarterly Reports on Form 10-Q. Progenity claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Progenity expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.

    Investor Contact:

    Robert Uhl

    Managing Director, Westwicke ICR

    ir@progenity.com

    (619) 228-5886

    Media Contact:

    Kate Blom-Lowery

    CG Life

    media@progenity.com

    (619) 743-6294



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  3. SAN DIEGO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. ("Progenity") (NASDAQ:PROG), an innovative biotechnology company, today announced the closing of its previously announced registered direct offering of 13,333,334 shares of the Company's common stock, at a purchase price of $1.50 per share, priced at a premium to market under Nasdaq rules for gross proceeds of approximately $20 million, before deducting the placement agent's fees and other offering expenses.

    H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

    Progenity intends to use the net proceeds from this offering to support its operations, invest in research and development with respect to its diagnostic technologies and precision medicine platform…

    SAN DIEGO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. ("Progenity") (NASDAQ:PROG), an innovative biotechnology company, today announced the closing of its previously announced registered direct offering of 13,333,334 shares of the Company's common stock, at a purchase price of $1.50 per share, priced at a premium to market under Nasdaq rules for gross proceeds of approximately $20 million, before deducting the placement agent's fees and other offering expenses.

    H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

    Progenity intends to use the net proceeds from this offering to support its operations, invest in research and development with respect to its diagnostic technologies and precision medicine platform, and for working capital and general corporate purposes.

    A shelf registration statement relating to the offered shares of common stock was filed with the Securities and Exchange Commission ("SEC") on July 30, 2021 and was declared effective on August 6, 2021. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock offered was filed with the SEC.  Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Progenity

    Progenity, Inc. is a biotechnology company innovating in the fields of women's health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity's vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

    Investor Contact:

    Robert Uhl

    Managing Director, Westwicke ICR

    ir@progenity.com 

    (619) 228-5886

    Media Contact:

    Kate Blom-Lowery

    CG Life

    media@progenity.com 

    (619) 742-6294



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  4. SAN DIEGO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. ("Progenity") (NASDAQ:PROG), an innovative biotechnology company, today announced that it has entered into a definitive agreement with several institutional investors for the purchase and sale, in a registered direct offering priced at-the-market under Nasdaq rules, of 13,333,334 shares of the Company's common stock, at a purchase price of $1.50 per share. The closing of the offering is expected to occur on or about October 6, 2021, subject to the satisfaction of customary closing conditions.

    H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

    The gross proceeds to Progenity from this offering are expected to be approximately $20 million, before deducting…

    SAN DIEGO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. ("Progenity") (NASDAQ:PROG), an innovative biotechnology company, today announced that it has entered into a definitive agreement with several institutional investors for the purchase and sale, in a registered direct offering priced at-the-market under Nasdaq rules, of 13,333,334 shares of the Company's common stock, at a purchase price of $1.50 per share. The closing of the offering is expected to occur on or about October 6, 2021, subject to the satisfaction of customary closing conditions.

    H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

    The gross proceeds to Progenity from this offering are expected to be approximately $20 million, before deducting the placement agent's fees and other offering expenses. Progenity intends to use the net proceeds from this offering to support its operations, invest in research and development with respect to its diagnostic technologies and precision medicine platform, and for working capital and general corporate purposes.

    A shelf registration statement relating to the offered shares of common stock was filed with the Securities and Exchange Commission ("SEC") on July 30, 2021 and was declared effective on August 6, 2021. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC.  Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Progenity

    Progenity, Inc. is a biotechnology company innovating in the fields of women's health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity's vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

    Forward-Looking Statements

    This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Progenity's expectations regarding the completion and intended use of the proceeds of the registered direct offering. In some cases, you can identify these statements by forward-looking words such as "expect," "may," "will," or the negative or plural of these words or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). These forward-looking statements are based on Progenity's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties related to market and other conditions and the satisfaction of customary closing conditions related to the registered direct offering. Additional information concerning these and other risks can be found in Progenity's periodic filings with the SEC, including under the heading "Risk Factors" contained therein. Any forward-looking statements that Progenity makes in this press release speak only as of the date of this press release. Except as required by law, Progenity assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

    Investor Contact:

    Robert Uhl

    Managing Director, Westwicke ICR

    ir@progenity.com 

    (619) 228-5886

    Media Contact:

    Kate Blom-Lowery

    CG Life

    media@progenity.com 

    (619) 742-6294



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  5. SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the company will participate in the 11th annual Partnership Opportunities in Drug Delivery (PODD) Conference, October 28-29, 2021 in Boston.

    Progenity's Vice President of Strategy and Operations, Chris Wahl, MD, MBA, will participate in the panel titled "Orally Ingestible Devices for Biologics Delivery" on Friday, October 29, at 9:35 a.m. ET. The panel discussion will be live-streamed and will be available on demand for three months following the conference to registered attendees.

    The session will explore oral delivery of biologics and the many technological approaches currently under investigation and showing…

    SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (NASDAQ:PROG), an innovative biotechnology company, announced today that the company will participate in the 11th annual Partnership Opportunities in Drug Delivery (PODD) Conference, October 28-29, 2021 in Boston.

    Progenity's Vice President of Strategy and Operations, Chris Wahl, MD, MBA, will participate in the panel titled "Orally Ingestible Devices for Biologics Delivery" on Friday, October 29, at 9:35 a.m. ET. The panel discussion will be live-streamed and will be available on demand for three months following the conference to registered attendees.

    The session will explore oral delivery of biologics and the many technological approaches currently under investigation and showing promising results, including Progenity's Oral Biotherapeutic Delivery System (OBDS), which is designed to enable needle-free systemic delivery of large-molecule biologics in a liquid formulation.

    In addition to participating on the panel, the company will also be meeting with potential and existing pharmaceutical partners. Progenity recently signed its third partnership with a major pharmaceutical company to evaluate delivery of large molecules using the OBDS platform.

    About the Oral Biotherapeutic Delivery System (OBDS)

    Progenity's Oral Biotherapeutic Delivery System (OBDS) is an ingestible capsule designed for needle-free, oral delivery of large molecules, including monoclonal antibodies, peptides, and nucleic acids. These substances cannot survive stomach acids and are too large to be absorbed in the intestine and are therefore currently delivered by injection. Once swallowed, the OBDS capsule is designed to transit the intestinal tract and trigger in the small intestine, where it will use liquid jet release to inject drug directly into the small intestine for optimal bioavailability.

    The OBDS platform is designed to enable delivery of liquid drug, eliminating the need for reformulation, and allows for industry-leading dosing of over 50 mg of proteins and over 5 mg of peptides. This makes the technology broadly applicable for large molecule candidates. With more frequent administration, oral delivery has the potential to improve drug efficacy and safety as compared to current injection regimens.

    Progenity is currently conducting preclinical studies to demonstrate the bioavailability of its lead candidates PGN-OB1 (adalimumab) and PGN-OB2 (liraglutide, a GLP-1 agonist). In addition, the company has entered an agreement with Ionis Pharmaceuticals to evaluate the OBDS for delivery of antisense oligonucleotides. Progenity has also entered agreements with two leading pharmaceutical companies to evaluate delivery of their proprietary drugs via the OBDS platform.

    About Progenity

    Progenity, Inc. is a biotechnology company innovating in the fields of women's health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity's vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

    For more information visit www.progenity.com, or follow the company on LinkedIn or Twitter.

    Forward Looking Statements

    This press release contains "forward-looking statements," which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts, included in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "estimate," "predict," "potential," "develop," "plan" or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause Progenity's actual results to differ materially from the forward-looking statements expressed or implied in this press release, including Progenity's ability to successfully develop and commercialize its products under development, the uncertainties inherent in the development process, such as the regulatory approval process, the timing of regulatory filings, and other matters, including the ongoing COVID-19 pandemic, that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of Progenity's products, and those risks described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Progenity's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 18, 2021, and other subsequent documents we file with the SEC, including but not limited to Progenity's Quarterly Reports on Form 10-Q. Progenity claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Progenity expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.

    Investor Contact:

    Robert Uhl

    Managing Director, Westwicke ICR

    ir@progenity.com

    (619) 228-5886

    Media Contact:

    Kate Blom-Lowery

    CG Life

    media@progenity.com

    (619) 743-6294



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