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Prime Medicine, Inc. - PRME STOCK NEWS

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Prime Medicine, Inc. (Nasdaq: PRME) is at the forefront of biotechnology with a mission to deliver next-generation genetic therapies aimed at addressing a wide spectrum of diseases. Leveraging its proprietary Prime Editing platform, the company uses precise and efficient gene editing technology to develop potentially curative genetic therapies. Prime Editing allows for targeted modifications at specific genomic sites, which can repair almost all types of genetic mutations with minimal unwanted DNA changes. This versatile technology holds promise for treating genetic disorders affecting various tissues, organs, and cell types.

Prime Medicine is currently advancing a diversified portfolio of eighteen programs, initially focused on genetic diseases with high unmet medical needs. Some of the company's key projects include therapies for Chronic Granulomatous Disease (CGD) and Cystic Fibrosis (CF). In recent news, the U.S. Food and Drug Administration (FDA) has cleared Prime Medicine's Investigational New Drug (IND) application for PM359, intended to treat CGD. This marks a significant milestone as PM359 is the first-ever Prime Editor product candidate to advance to clinical trials.

Financially, the company reported robust results for the year ended December 31, 2023, and remains committed to progressing its clinical programs. Prime Medicine also emphasizes collaborations and partnerships to accelerate its innovative work. A notable recent development includes its amicable settlement with Myeloid Therapeutics, Inc., allowing both companies to pursue their scientific and commercial goals unimpeded.

Prime Medicine's commitment to innovation extends to tackling Cystic Fibrosis through Prime Editing technology. The company plans to correct CFTR mutations using two distinct strategies: hotspot editing and the Prime Assisted Site Specific Integrase Gene Editing (PASSIGE™). With funding from the Cystic Fibrosis Foundation, Prime Medicine aims to develop therapies that could potentially cure the disease.

In summary, Prime Medicine is a pioneering biotechnology firm dedicated to transforming genetic therapy. Its cutting-edge Prime Editing platform and focus on high unmet medical needs make it a significant player in the field of gene editing.

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Prime Medicine, a biotechnology firm traded on Nasdaq under the symbol PRME, announced that CEO Keith Gottesdiener will present at two upcoming investor conferences. The first presentation will be at the Jefferies Healthcare Conference on June 5, 2024, at 1:30 p.m. ET in New York, NY. The second presentation will be at the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024, at 2:00 p.m. ET in Miami Beach, FL. Live audio webcasts of both events will be available in the 'Events & Presentations' section on the company's website, with replays accessible for 90 days post-event.

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Prime Medicine, Inc. (Nasdaq: PRME) will have Allan Reine, M.D., Chief Financial Officer, participating in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference at NASDAQ on May 20, 2024.

The company is focused on delivering innovative one-time curative genetic therapies, with the event allowing investors to gain insights into Prime Medicine's future endeavors.

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Prime Medicine, Inc. (Nasdaq: PRME) reported financial results for Q1 2024, highlighting FDA clearance of its first-ever IND application for PM359 for CGD treatment. They also presented new preclinical data demonstrating Prime Editing technology's potential and appointed Tony Coles, M.D., as a senior advisor. The company is focused on advancing its pipeline programs and strengthening its Prime Editing platform.

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Prime Medicine, Inc. presents preclinical data showing PM359's ability to correct CGD mutation, with FDA clearance for Phase 1/2 trial. CGD is a rare disease causing severe infections. PM359 demonstrated high correction rates, restored neutrophil function, and clinical-scale production of edited cells.

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Prime Medicine, Inc. (Nasdaq: PRME) will participate in the 27th Annual Milken Institute Global Conference with its CEO, Dr. Keith Gottesdiener, discussing cutting-edge technologies and scientific breakthroughs. The panel aims to offer insights into the future and will be livestreamed on May 8, 2024.

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Prime Medicine, Inc. (Nasdaq: PRME) receives FDA clearance for PM359 IND application to treat Chronic Granulomatous Disease (CGD). PM359, an ex vivo product candidate utilizing Prime Editing Technology, aims to correct prevalent disease-causing mutations of CGD. Initial clinical data expected in 2025.

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Prime Medicine, Inc. (Nasdaq: PRME) announces upcoming presentations of new preclinical data for PM359, demonstrating the potential of Prime Editing technology to correct CGD mutations. The company is on track to enter clinical development in 2024, with initial data expected in 2025. Co-Founder David Liu, Ph.D., receives ASGCT Outstanding Achievement Award.
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Prime Medicine, Inc. (PRME) is maturing into a clinical-stage company, planning to file IND application or CTA for PM359 in 1H 2024. They aim to bring the first Prime Editing-based therapeutic candidate to patients by 2025. The company is progressing their portfolio across core areas, initiating IND-enabling activities for liver and ocular disease programs in 2024. Prime Medicine entered a therapeutic development agreement with the Cystic Fibrosis Foundation for CF treatments. They completed a $161 million public offering and received Orphan Drug Designation for PM359. The company also closed an upsized underwritten public offering and appointed a new CFO. Financially, R&D expenses increased to $147.9 million, G&A expenses were $43.4 million, resulting in a net loss of $198.1 million for 2023. Cash position stood at $135.2 million as of December 31, 2023.
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Prime Medicine, Inc. (PRME) announces participation in two upcoming conferences to discuss emerging genetic therapy approaches. Keith Gottesdiener, M.D., President and CEO, will lead the discussions at the TD Cowen 44th Annual Healthcare Conference and Jefferies Biotech on the Bay Summit.
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Prime Medicine, Inc. (PRME) successfully closed an underwritten upsized public offering, selling 22,560,001 shares of common stock and pre-funded warrants, generating approximately $161.0 million in gross proceeds. The offering was managed by J.P. Morgan, Jefferies, TD Cowen, and BMO Capital Markets. The company utilized an effective shelf registration statement on Form S-3 filed with the SEC. The final prospectus supplement is available on the SEC's website for further details.
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FAQ

What is Prime Medicine, Inc.?

Prime Medicine, Inc. (Nasdaq: PRME) is a biotechnology company focused on delivering next-generation genetic therapies using its proprietary Prime Editing platform.

What is Prime Editing?

Prime Editing is a precise and efficient gene editing technology that allows targeted modifications at specific genomic sites to repair genetic mutations with minimal unwanted DNA changes.

What diseases is Prime Medicine targeting?

Prime Medicine is advancing therapies for a range of genetic diseases, including Chronic Granulomatous Disease (CGD) and Cystic Fibrosis (CF), among others.

What is PM359?

PM359 is Prime Medicine's first product candidate targeting Chronic Granulomatous Disease (CGD). It has received FDA clearance for clinical trials, marking a significant milestone for the company.

What recent developments have occurred at Prime Medicine?

Recent developments include the FDA's clearance of PM359 for CGD treatment, a financial report showcasing robust results for 2023, and an amicable settlement with Myeloid Therapeutics, Inc.

How is Prime Medicine addressing Cystic Fibrosis?

Prime Medicine is using Prime Editing technology to correct CFTR mutations in Cystic Fibrosis patients through hotspot editing and the Prime Assisted Site Specific Integrase Gene Editing (PASSIGE™) strategies.

What are the financial expectations for Prime Medicine?

Prime Medicine reported strong financial results for 2023 and continues to advance its portfolio of clinical programs, expecting further growth as it transitions into a clinical-stage company.

Who are Prime Medicine's key partners?

Prime Medicine collaborates with various organizations, including the Cystic Fibrosis Foundation, to advance its genetic therapy programs. It recently resolved disputes with Myeloid Therapeutics, Inc., to focus on collaborative goals.

What is the significance of the recent FDA clearance for PM359?

The FDA clearance for PM359 allows Prime Medicine to initiate clinical trials, marking the first-ever advancement of a Prime Editor product candidate to the clinic. This is a significant milestone for the company and gene editing field.

Where can I find more information about Prime Medicine?

For more information about Prime Medicine, visit their official website at www.primemedicine.com.

Prime Medicine, Inc.

Nasdaq:PRME

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636.76M
120.03M
26.27%
66.07%
9.64%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
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United States of America
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