Prime Medicine, Inc.

Listed Company

PRMECIK 0001894562NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$4.63M

Net Income

$-201.14M

Total Assets

$342.73M

Equity

$120.87M

Shares Out

180.55M

Op. Cash Flow

$-162.56M

Business

Prime Medicine, Inc. is a biotechnology company developing one-time curative genetic therapies using its Prime Editing platform. It designs and optimizes Prime Editors, pegRNAs, and complementary technologies such as PASSIGE for precise insertions, alongside delivery systems (electroporation, lipid nanoparticles, AAV) and product candidates including ex vivo and in vivo programs like PM359 and PM577. Its business is organized around core therapeutic areas—hematology, immunology and oncology, liver, and lung—supported by platform capabilities in delivery, manufacturing, analytical assays and IP. It advances programs through global clinical trials, strategic collaborations and licensing arrangements and relies on third-party CMOs and regulatory pathways for distribution.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	5	3	0	0	0
Research and development	161	155	148	87	71
General and administrative	52	50	43	30	14
Total operating expenses	213	205	205	117	84
Loss from operations	−208	−202	−205	−117	−84
Interest income	4	4	3	—	—
Accretion (amortization) of investments	2	4	6	—	—
Change in fair value of short-term investment related party	432,000	−485,000	−2	−8	—
Other income, net	148,000	41,000	274,000	2	12,000
Total other income, net	7	7	6	−6	−81
Net loss attributable to common stockholders, basic	−201	−196	−198	−142	−184
Net loss attributable to common stockholders, diluted	−201	−196	−198	−142	−184
Net loss per share attributable to common stockholders, basic (in dollars per share)	−1.35	−1.65	−2.18	−4.19	−14.19
Net loss per share attributable to common stockholders, diluted (in dollars per share)	−1.35	−1.65	−2.18	−4.19	−14.19
Weighted-average common shares outstanding, diluted (in shares)	149	119	91	34	13
Weighted-average common shares outstanding, basic (in shares)	149	119	91	34	13
Net loss	−201	−196	−198	−122	−165
Change in unrealized loss on investments, net of tax	81,000	16,000	369,000	−357,000	−27,000
Comprehensive loss	−201	−196	−198	−122	−165

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	63	182	42	188	185
Prepaid expenses	3	7	19	2	—
Other current assets	674,000	15	2	246,000	—
Total current assets	181	212	143	297	271
Property and equipment, net	21	24	23	19	5
Operating lease right-of-use assets	126	47	14	30	11
Restricted cash	14	14	13	13	13
Other assets	1	0	779,000	2	2
Total assets	343	298	194	360	302
Accounts payable	9	11	20	4	1
Accrued expenses and other current liabilities	13	16	14	11	37
Deferred revenue related party	8	7	0	—	—
Operating lease liability	8	4	9	12	7
Total current liabilities	37	38	56	27	58
Deferred revenue, net of current related party	58	63	0	—	—
Operating lease liability, net of current	108	37	4	17	3
Research and development funding liability	18	6	0	—	—
Total liabilities	222	144	61	44	62
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, par value of $0.00001 per share; 775,000,000 shares authorized; 180,514,014 and 131,160,842 shares issued and outstanding as of December 31, 2025 and 2024, respectively	2,000	2,000	2,000	2,000	0
Additional paid-in capital	1,009	840	624	610	15
Accumulated other comprehensive income	82,000	1,000	−15,000	−384,000	−27,000
Accumulated deficit	−888	−687	−491	−293	−171
Total stockholders equity	121	153	133	316	−156
Total liabilities and stockholders equity	343	298	194	360	302

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	29	26	14	6	2
Non cash lease expense	10	12	13	10	4
Depreciation expense	7	6	5	2	600,000
Change in fair value of short-term investment related party	−432,000	484,000	2	8	—
Amortization of premiums and discount on short-term investments	−2	−3	−3	—	—
Prepaid expenses and other current assets	5	−16	−9	−2	−885,000
Accounts payable	996,000	−5	9	2	1
Accrued expenses and other current liabilities	−1	2	2	−26	35
Accrued settlement payment related party	0	−14	14	0	—
Deferred revenue related party	−4	70	0	—	—
Lease liability	−5	−6	−12	−10	−4
Net cash used in operating activities	−163	−123	−165	−132	−34
Maturities of investments	96	204	133	93	13
Sales of investments related party	5	0	—	—	—
Purchases of investments	−205	−129	−105	−123	−82
Purchases of property and equipment	−5	−7	−9	−16	−4
Return (payment) of security deposit	0	1	−170,000	—	—
Net cash (used in) provided by investing activities	−109	68	19	−47	−74
Proceeds from follow-on offering, net of issuance costs	138	132	0	—	—
Proceeds from research and development funding liability	12	6	0	—	—
Net proceeds from stock option exercises	781,000	103,000	655,000	219,000	0
Proceeds from ESPP offerings	341,000	837,000	0	—	—
Proceeds from issuance of common stock under the BMS Securities Purchase Agreement related party	0	38	0	—	—
Net cash provided by financing activities	152	196	655,000	181	269
Net change in cash, cash equivalents, and restricted cash	−120	141	−146	3	162
Right-of-use assets obtained in exchange for new operating lease liabilities	84	45	3	29	12
Decrease in right-of-use assets due to lease termination	3	0	6	0	—
Increase in right-of-use assets upon settlement with landlord	11	0	—	—	—
Purchases of property and equipment included in accounts payable and accrued expenses	114,000	1	575,000	969,000	754,000

Filings

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