Prime Medicine Stock Price, News & Analysis

Prime Medicine (Nasdaq: PRME) has announced the pricing of a public offering of 38,000,000 shares of common stock at $3.30 per share. The biotechnology company expects to raise approximately $125.4 million in gross proceeds before deducting expenses.

The offering includes a notable arrangement with the Cystic Fibrosis Foundation, which will purchase 1,818,181 shares without underwriter commissions. Additionally, underwriters have a 30-day option to purchase up to 5,700,000 additional shares. The offering is expected to close around August 1, 2025, with TD Cowen and BMO Capital Markets serving as joint book-running managers.

Prime Medicine (Nasdaq: PRME), a biotechnology company focused on curative genetic therapies, has announced a proposed public offering of common stock. The company will grant underwriters a 30-day option to purchase an additional 15% of the offered shares.

The offering will be managed by TD Cowen and BMO Capital Markets as joint book-running managers. The shares will be offered through a previously filed shelf registration statement that became effective on November 13, 2023. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

Prime Medicine (Nasdaq: PRME) has secured up to $24 million in additional funding from the Cystic Fibrosis Foundation to accelerate the development of Prime Editors for treating cystic fibrosis (CF). The funding includes a $6 million equity investment and will be provided in two tranches, subject to certain conditions and milestones.

The company's Prime Editing technology aims to permanently correct CF-related lung disease through multiple hotspot Prime Editors that could potentially benefit over 93% of CF patients. Initially, Prime Medicine will focus on targeting the G542X mutation, one of the most common CF-causing nonsense mutations currently lacking available therapies.

Prime Medicine (NASDAQ: PRME), a biotechnology company focused on developing one-time curative genetic therapies, has announced its participation in two major upcoming investor conferences. The company will present at the Jefferies Global Healthcare Conference on June 5, 2025, at 10:30 a.m. ET in New York, and the Goldman Sachs 46th Annual Global Healthcare Conference on June 9, 2025, at 2:40 p.m. ET in Miami Beach. Both presentations will be available via live audio webcasts on the company's website, with replays accessible for 90 days following each event.

Prime Medicine (PRME) announced a strategic restructuring and leadership transition. Allan Reine, M.D., the company's CFO, will succeed Keith Gottesdiener as CEO, while Jeff Marrazzo becomes Executive Chair. The company is implementing significant changes, including: • Deprioritizing Chronic Granulomatous Disease programs • Focusing on Wilson's Disease and Alpha-1 Antitrypsin Deficiency (AATD) liver programs • Reducing workforce by ~25% • Continuing Cystic Fibrosis program with CF Foundation support • Maintaining partnership with Bristol Myers Squibb for CAR-T products The company plans to file IND/CTA for Wilson's Disease in 1H 2026 and AATD in mid-2026, with initial clinical data expected in 2027. The restructuring aims to cut operating expenses and cash burn by almost half through 2027. Current cash runway extends into 1H 2026.

Prime Medicine (NASDAQ: PRME) has announced groundbreaking clinical data from its first patient treated with PM359, a Prime Editor therapy for Chronic Granulomatous Disease (CGD). The Phase 1/2 trial showed that a single infusion of PM359 restored NADPH oxidase activity to 58% by Day 15 and 66% by Day 30, significantly exceeding the 20% threshold for clinical benefit. The therapy demonstrated rapid engraftment in neutrophils (Day 14) and platelets (Day 19), nearly twice as fast as existing gene editing technologies. The treatment was well-tolerated with no serious adverse events related to PM359. Despite these promising results, Prime Medicine plans to seek external partners for PM359's continued development while focusing its resources on advancing its in vivo liver franchise, including programs for Wilson's Disease and Alpha-1 Antitrypsin Deficiency, as well as its Cystic Fibrosis program and CAR-T development partnership with Bristol Myers Squibb.

Prime Medicine (PRME) reported Q1 2025 financial results and provided pipeline updates. The company's net loss widened to $51.9M from $45.8M year-over-year, with cash position at $158.3M. Key pipeline developments include expected initial data from Phase 1/2 trial of PM359 for p47phox CGD in 2025, advancement of PM577 for Wilson's Disease with IND/CTA filing planned for 1H 2026, and unveiling of a new AATD program targeting mid-2026 for IND/CTA filing. R&D expenses increased to $40.6M from $37.8M, while G&A expenses rose to $13.3M from $11.2M. The company expects current cash runway to extend into first half of 2026. Prime Medicine's pipeline focuses on developing Prime Editors across hematology, immunology, oncology, liver, and lung diseases, including partnerships with Bristol Myers Squibb for T-cell therapies.

Prime Medicine (Nasdaq: PRME) has unveiled a preclinical program for treating alpha-1 antitrypsin deficiency (AATD), marking their second liver franchise program. The company plans to file an IND/CTA in mid-2026.

The program utilizes Prime's proprietary universal liver lipid nanoparticle (LNP) to edit the E342K (Pi*Z) mutation in the SERPINA1 gene. Initial in vivo data showed up to 72% precise correction of the SERPINA1 gene in hepatocytes of humanized mice, restoring over 95% of serum AAT to the corrected isoform with healthy AAT protein levels above 20µM.

Preclinical studies using unoptimized surrogate Prime Editors in non-human primate models demonstrated greater than 50% editing with an excellent safety profile and no detectable off-target edits. The company expects to advance both AATD and Wilson's Disease programs toward clinical data in 2027.

Prime Medicine (NASDAQ: PRME) has reported its full year 2024 financial results and provided key business updates. The company is progressing with its Phase 1/2 clinical trial of PM359 for p47phox CGD, with initial data expected in 2025. Their Wilson's Disease program (PM577) is advancing through IND-enabling studies, targeting IND/CTA filing in 1H 2026.

Financial highlights for 2024 include:

• R&D expenses increased to $155.3 million (from $147.9M in 2023)
• G&A expenses rose to $50.2 million (from $43.4M in 2023)
• Net loss was $195.9 million (improved from $198.1M in 2023)
• Cash position strengthened to $204.5 million (up from $135.2M in 2023)

The company expects its current cash position to fund operations into the first half of 2026.