Prime Medicine Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Prime Medicine (Nasdaq: PRME) has successfully completed its public offering of 43.7 million shares of common stock at $3.30 per share, including the full exercise of the underwriters' option for 5.7 million additional shares. The biotechnology company, focused on developing curative genetic therapies, raised approximately $144.2 million in gross proceeds before deducting expenses.
The offering included a notable sale of 1,818,181 shares to the Cystic Fibrosis Foundation, for which underwriters received no commissions. TD Cowen and BMO Capital Markets served as joint book-running managers for the offering, which was conducted under Prime Medicine's previously filed shelf registration statement.
Positive
- Raised significant capital of $144.2 million in gross proceeds
- Full exercise of underwriters' option indicates strong demand
- Strategic investment from Cystic Fibrosis Foundation demonstrates institutional confidence
Negative
- Significant dilution for existing shareholders with 43.7 million new shares
- Relatively low offering price of $3.30 per share
News Market Reaction
On the day this news was published, PRME gained 11.39%, reflecting a significant positive market reaction. Argus tracked a peak move of +24.1% during that session. Argus tracked a trough of -3.1% from its starting point during tracking. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $56M to the company's valuation, bringing the market cap to $546M at that time.
Data tracked by StockTitan Argus on the day of publication.
CAMBRIDGE, Mass., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced the closing of its underwritten public offering of 43,700,000 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 5,700,000 additional shares of its common stock, at a public offering price of
TD Cowen and BMO Capital Markets acted as joint book-running managers for the offering.
The shares of common stock were offered by Prime Medicine pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the U.S. Securities and Exchange Commission (SEC) on November 3, 2023 and declared effective by the SEC on November 13, 2023 (File No. 333-275321). The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by telephone at (855) 495-9846, or by email at TD.ECM_Prospectus@tdsecurities.com; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 West 42nd Street, 32nd Floor, New York, New York 10036, by email at bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell or a 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 the registration or qualification under the securities laws of any such state or jurisdiction.
About Prime Medicine
Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is deploying its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated one-time curative genetic therapies. Prime Editors are designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications.
Prime Medicine is currently progressing a diversified portfolio of investigational therapeutic programs organized around our core areas of focus: liver, lung, and immunology and oncology. Across each core area, Prime Medicine is focused initially on a set of high value programs, each targeting a disease with well-understood biology and a clearly defined clinical development and regulatory path.
Investor and Media Contacts
Gregory Dearborn
Prime Medicine
857-209-0696
gdearborn@primemedicine.com
Hannah Deresiewicz
Precision AQ
212-362-1200
hannah.deresiewicz@precisionaq.com
FAQ
How much money did Prime Medicine (PRME) raise in its August 2025 public offering?
What was the Cystic Fibrosis Foundation's involvement in Prime Medicine's 2025 offering?
Who were the underwriters for Prime Medicine's August 2025 public offering?
How many additional shares were included through the underwriters' option in PRME's offering?
What was the price per share for Prime Medicine's 2025 public offering?
