PROGENITY, INC.: insider trades · United States · SEC (Form 4)

About PROGENITY, INC.

PROGENITY, INC. (ticker: PROG) is a U.S.-based company listed on the U.S. market, with its equity historically referenced on NASDAQ / NYSE-style market data platforms depending on the data vendor. For investors, the most important point is that Progenity has undergone a major strategic reset: the business originally operated in diagnostic testing and GI-related laboratory services, but it shifted away from those legacy operations and reoriented itself toward oral biotherapeutics and drug-delivery technologies. In April 2022, the company rebranded as Biora Therapeutics, so the PROG ticker should be viewed through that transformation lens rather than as a conventional diagnostics story. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1580063/000119312524172672/d807649d424b5.htm?utm_source=openai)) The company was incorporated in Delaware in January 2012 under the name Ascendant MDx, Inc., later changed its name to Progenity, Inc. in August 2013, and then changed again to Biora Therapeutics, Inc. in April 2022. Its historical headquarters were in Ann Arbor, Michigan, and its earlier footprint included laboratory operations in the United States. Over time, management chose to wind down or divest the legacy lab assets so the organization could focus capital and scientific talent on a narrower R&D pipeline. That history matters because it explains both the company’s current identity and the higher-risk, development-stage profile that investors should expect. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1580063/000119312524172672/d807649d424b5.htm?utm_source=openai)) Operationally, the company’s core story has centered on two oral-delivery platforms. NaviCap is designed to deliver therapeutics to the site of disease in the gastrointestinal tract, with particular relevance to inflammatory bowel disease. BioJet is intended to enable systemic oral delivery of large molecules, potentially reducing reliance on injections for chronic diseases. These programs place the company in the specialized drug-delivery niche, where the competitive advantage comes from platform innovation, intellectual property, and translational progress rather than from an established commercial product base. As a result, the company competes more on technological differentiation and pipeline execution than on current sales scale. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1580063/000119312524172672/d807649d424b5.htm?utm_source=openai)) Recent corporate history has been shaped by strategic transformation, discontinuation of legacy laboratory operations, and a continued focus on research and development. Public disclosures also indicate a strong emphasis on SEC reporting and insider-transaction visibility, which is relevant for Form 4-oriented analysis. For market participants, PROG is best characterized as a U.S. small-cap biotech name with meaningful upside optionality if its delivery platforms advance, but also with substantial clinical, regulatory, financing, and execution risk. In practical terms, this is a development-stage healthcare company whose valuation is likely to be driven by milestones, partnerships, and cash runway rather than mature commercial revenues. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1580063/000095017022017429/R7.htm?utm_source=openai))