Prime Medicine Reports Second Quarter 2025 Financial Results and Provides Business Updates
Prime Medicine (NASDAQ: PRME) reported Q2 2025 financial results and significant business updates. The company announced positive clinical data from two patients in their Phase 1/2 CGD trial, demonstrating the first clinical proof-of-concept for Prime Editing technology. Prime Medicine completed a follow-on offering raising $144.2 million and secured up to $24 million in additional funding from the Cystic Fibrosis Foundation.
The company reported a Q2 2025 net loss of $52.6 million, with R&D expenses of $41.4 million and G&A expenses of $13.1 million. Under new CEO Allan Reine's leadership, Prime Medicine is focusing on advancing its liver franchise programs (Wilson's Disease and Alpha-1 Antitrypsin Deficiency) and partnership-funded initiatives. The company's pro-forma cash position of $259.6 million is expected to fund operations into 2027.
Prime Medicine (NASDAQ: PRME) ha comunicato i risultati finanziari del secondo trimestre 2025 e importanti aggiornamenti aziendali. L'azienda ha annunciato dati clinici positivi da due pazienti nel loro trial di Fase 1/2 per la CGD, dimostrando la prima prova clinica di concetto per la tecnologia Prime Editing. Prime Medicine ha completato un aumento di capitale di 144,2 milioni di dollari e ha ottenuto fino a 24 milioni di dollari di finanziamenti aggiuntivi dalla Cystic Fibrosis Foundation.
L'azienda ha riportato una perdita netta di 52,6 milioni di dollari nel secondo trimestre 2025, con spese in R&S di 41,4 milioni e spese amministrative di 13,1 milioni. Sotto la guida del nuovo CEO Allan Reine, Prime Medicine si concentra sull'avanzamento dei programmi per il fegato (Malattia di Wilson e Deficienza di Alfa-1 Antitripsina) e sulle iniziative finanziate da partnership. La posizione di cassa pro-forma di 259,6 milioni di dollari dovrebbe garantire il finanziamento delle operazioni fino al 2027.
Prime Medicine (NASDAQ: PRME) informó los resultados financieros del segundo trimestre de 2025 y actualizaciones empresariales importantes. La compañía anunció datos clínicos positivos de dos pacientes en su ensayo de Fase 1/2 para CGD, demostrando la primera prueba clínica de concepto para la tecnología Prime Editing. Prime Medicine completó una oferta secundaria que recaudó 144,2 millones de dólares y aseguró hasta 24 millones de dólares en financiamiento adicional de la Cystic Fibrosis Foundation.
La empresa reportó una pérdida neta de 52,6 millones de dólares en el segundo trimestre de 2025, con gastos en I+D de 41,4 millones y gastos administrativos de 13,1 millones. Bajo el liderazgo del nuevo CEO Allan Reine, Prime Medicine se está enfocando en avanzar sus programas para el hígado (Enfermedad de Wilson y Deficiencia de Alfa-1 Antitripsina) y en iniciativas financiadas por alianzas. La posición de caja pro forma de 259,6 millones de dólares se espera que financie las operaciones hasta 2027.
Prime Medicine (NASDAQ: PRME)는 2025년 2분기 재무 실적과 주요 사업 업데이트를 발표했습니다. 회사는 CGD 1/2상 임상시험에서 두 명의 환자에게서 긍정적인 임상 데이터를 발표하며 Prime Editing 기술에 대한 최초의 임상 개념 증명을 입증했습니다. Prime Medicine은 추가 공모를 통해 1억 4,420만 달러를 조달했으며, 낭포성 섬유증 재단으로부터 최대 2,400만 달러의 추가 자금을 확보했습니다.
회사는 2025년 2분기 순손실 5,260만 달러를 보고했으며, 연구개발 비용은 4,140만 달러, 일반관리비는 1,310만 달러였습니다. 새로운 CEO Allan Reine의 리더십 아래 Prime Medicine은 간 질환 프로그램(윌슨병 및 알파-1 안티트립신 결핍증)과 파트너십 자금 지원 프로젝트를 추진하는 데 집중하고 있습니다. 회사의 프로포마 현금 잔액 2억 5,960만 달러는 2027년까지 운영 자금을 지원할 것으로 예상됩니다.
Prime Medicine (NASDAQ : PRME) a publié ses résultats financiers du deuxième trimestre 2025 ainsi que des mises à jour importantes concernant son activité. La société a annoncé des données cliniques positives provenant de deux patients dans son essai de phase 1/2 sur la CGD, démontrant la première preuve clinique de concept pour la technologie Prime Editing. Prime Medicine a réalisé une offre secondaire ayant levé 144,2 millions de dollars et obtenu jusqu'à 24 millions de dollars de financements supplémentaires de la Fondation de la Fibrose Kystique.
La société a déclaré une perte nette de 52,6 millions de dollars au deuxième trimestre 2025, avec des dépenses en R&D de 41,4 millions et des frais administratifs de 13,1 millions. Sous la direction du nouveau PDG Allan Reine, Prime Medicine se concentre sur le développement de ses programmes pour le foie (maladie de Wilson et déficit en alpha-1 antitrypsine) ainsi que sur des initiatives financées par des partenariats. La trésorerie pro forma de 259,6 millions de dollars devrait permettre de financer les opérations jusqu'en 2027.
Prime Medicine (NASDAQ: PRME) veröffentlichte die Finanzergebnisse für das zweite Quartal 2025 sowie wichtige Geschäftsinformationen. Das Unternehmen gab positive klinische Daten von zwei Patienten in ihrer Phase-1/2-CGD-Studie bekannt, was den ersten klinischen Proof-of-Concept für die Prime Editing-Technologie darstellt. Prime Medicine schloss eine Folgeemission ab, bei der 144,2 Millionen US-Dollar eingeworben wurden, und sicherte sich bis zu 24 Millionen US-Dollar zusätzliche Finanzierung von der Cystic Fibrosis Foundation.
Das Unternehmen meldete einen Nettoverlust von 52,6 Millionen US-Dollar im zweiten Quartal 2025, mit F&E-Ausgaben von 41,4 Millionen und Verwaltungsaufwendungen von 13,1 Millionen. Unter der Führung des neuen CEO Allan Reine konzentriert sich Prime Medicine darauf, seine Leber-Franchise-Programme (Wilson-Krankheit und Alpha-1-Antitrypsin-Mangel) sowie partnerschaftlich finanzierte Initiativen voranzutreiben. Die pro-forma-Barmittelposition von 259,6 Millionen US-Dollar soll die Finanzierung der Geschäftstätigkeit bis 2027 sichern.
- Positive clinical proof-of-concept data from two CGD patients showing restored NADPH oxidase activity
- Secured $144.2 million through follow-on offering extending cash runway into 2027
- Additional $24 million funding from Cystic Fibrosis Foundation
- Strategic restructuring reducing cash needs by almost half through 2027
- Decreased net loss to $52.6 million from $55.3 million year-over-year
- Deprioritization of CGD program despite positive results
- Cash position decreased to $115.4 million from $204.5 million in December 2024
- Workforce reduction and restructuring implemented
- Initial clinical data from main programs not expected until 2027
Insights
Prime Medicine shows clinical proof-of-concept for gene editing technology while restructuring operations and strengthening finances to extend runway into 2027.
Prime Medicine has reached a pivotal milestone with positive clinical data from two CGD patients, providing the first human evidence that their Prime Editing technology may effectively cure genetic diseases. This represents a crucial validation of their core technology platform, though the company has strategically decided not to independently advance this program further.
The company's financial position has strengthened significantly with a $144.2 million follow-on offering and up to $24 million in Cystic Fibrosis Foundation funding. These capital infusions extend their cash runway into 2027, providing crucial operational stability during a period of strategic transition.
Under new CEO Allan Reine, Prime has implemented a strategic restructuring that narrows their focus to their most promising assets: liver-targeted therapies for Wilson's Disease and Alpha-1 Antitrypsin Deficiency (with data expected in 2027), plus externally-funded programs in Cystic Fibrosis and CAR-T with Bristol Myers Squibb. This restructuring has substantially reduced operating expenses, nearly halving anticipated cash needs through 2027.
Financially, Q2 showed modest improvements with R&D expenses decreasing to $41.4 million from $43.1 million year-over-year, though G&A expenses increased slightly to $13.1 million from $12.6 million due to one-time severance costs. Net loss improved to $52.6 million from $55.3 million in Q2 2024.
The company's pro-forma cash position of $259.6 million (including recent financing) provides significant operational runway, though investors should note that clinical data for their now-core liver programs isn't expected until 2027, representing a substantial waiting period for further clinical validation of their pipeline.
Prime Medicine demonstrates first human proof-of-concept for Prime Editing technology with positive CGD data, while strategically focusing on high-impact liver indications.
The clinical data from Prime Medicine's CGD program represents a significant scientific milestone - the first human evidence that Prime Editing can effectively cure genetic diseases. The consistency of results across two patients is particularly encouraging, showing rapid engraftment and restoration of NADPH oxidase activity above the clinical benefit threshold.
Most notably, the second patient demonstrated normalization of fecal calprotectin (a measure of intestinal inflammation) from 15x the upper limit at baseline to normal levels by day 45. This suggests Prime Editing is not only correcting the genetic defect but also resolving disease-related inflammation, a crucial indicator of meaningful clinical benefit.
The company's strategic pivot to focus on Wilson's Disease and Alpha-1 Antitrypsin Deficiency is scientifically sound. These liver-targeted diseases represent larger patient populations with clear genetic drivers, potentially offering more straightforward development paths and broader commercial potential than rare diseases like CGD.
The additional $24 million from the Cystic Fibrosis Foundation for targeting the G542X mutation is particularly significant. This nonsense mutation is resistant to currently available CF therapies, highlighting how Prime Editing's precision could address genetic variants that remain untreatable with conventional approaches.
Prime's dual approach to CF - targeting specific high-impact mutations while advancing their PASSIGE platform - demonstrates technical sophistication and strategic flexibility in applying their editing technology.
While the extended timeline to 2027 for liver program data indicates the technical challenges in translating this platform to in vivo applications, the fundamental proof-of-concept established in the CGD program significantly de-risks the underlying technology's potential to deliver clinically meaningful genetic corrections in humans.
-- Announced positive data from two patients in Phase 1/2 clinical trial in Chronic Granulomatous Disease (CGD), providing clinical proof-of-concept for Prime Editing; plan to have regulatory interactions based on current dataset --
-- Completed follow-on offering, raising
-- Secured up to
-- Announced leadership transition and strategic restructuring: Allan Reine, M.D., named Chief Executive Officer; focusing efforts on advancing liver franchise and programs funded through external partnerships --
CAMBRIDGE, Mass., Aug. 07, 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 reported financial results for the quarter ended June 30, 2025 and provided a business update.
“Recent months have been transformative for Prime Medicine. We announced initial data from our CGD program, providing the first clinical evidence that Prime Editing may cure genetic diseases in humans, and outlined a strategic restructuring, reinforcing our commitment to operating with efficiency and financial discipline as we deliver the tremendous power of our technology,” said Allan Reine, M.D., Chief Executive Officer of Prime Medicine. “We enter the second half of 2025 in a position of strength, laser-focused on advancing our internally-funded programs to treat Wilson’s Disease and Alpha-1 Antitrypsin Deficiency, two of the largest genetic diseases treated by targeting the liver – as well as on programs to treat Cystic Fibrosis and with our partner BMS Prime Edited CAR-T products for hematology, immunology and oncology. Importantly, we are highly encouraged by the clinical data from the first two subjects from our CGD program and we intend to engage the FDA based on our current dataset to explore efficient ways to make this medicine available to patients in need.”
Dr. Reine continued, “In recent weeks, we announced the successful closing of a
Prime Medicine’s Pipeline:
Prime Medicine is currently advancing in vivo programs to cure two of the largest genetic liver diseases, Wilson’s Disease and Alpha-1 Antitrypsin Deficiency (AATD), with initial clinical data from both programs expected in 2027. Prime Medicine is also advancing an in vivo Cystic Fibrosis (CF) program with support from the Cystic Fibrosis Foundation, and efforts to develop Prime Edited CAR-T products for hematology, immunology and oncology in partnership with Bristol Myers Squibb.
Recent Business Updates
- Prime Medicine announced additional clinical data from its Phase 1/2 study of PM359 for the treatment of Chronic Granulomatous Disease (CGD). Consistent with data previously reported in May 2025, preliminary results from a second patient showed rapid engraftment and restored NADPH oxidase activity to well above the threshold for clinical benefit, as measured by the dihydrorhodamine (DHR) assay, with an encouraging safety profile. In addition, data in the second patient demonstrated an improvement in inflammatory markers of CGD, with fecal calprotectin – a measure of intestinal inflammation – returning to normal levels at Day 45 from 15 times the upper limit of normal at baseline. While Prime Medicine does not intend to independently advance clinical development of PM359, the Company plans to have regulatory interactions with the U.S. Food and Drug Administration (FDA).
- In July 2025, Prime Medicine announced that the Cystic Fibrosis Foundation agreed to provide the Company with up to
$24 million in additional funding to accelerate the development of Prime Editors designed to cure CF. With this capital from the Cystic Fibrosis Foundation, Prime Medicine will initially focus its efforts on the G542X mutation, one of the most prevalent nonsense mutations associated with CF and one for which currently available therapies are ineffective, while continuing to advance its PASSIGE-based approach.
Recent Corporate Updates:
- In August 2025, Prime Medicine closed an underwritten public offering of common stock. Gross proceeds to Prime Medicine from the offering, before deducting underwriting discounts and commissions and offering expenses, were
$144.2 million . - In May 2025, Prime Medicine announced the appointment of Allan Reine, M.D., as Chief Executive Officer and member of the Board of Directors, and Jeff Marrazzo, member of the Company’s Board of Directors, as Executive Chair.
- Also in May 2025, Prime Medicine announced a strategic restructuring, as well as a cost and workforce reduction. These initiatives were designed to significantly decrease Prime Medicine’s operating expenses and cash burn, reducing anticipated cash needs by almost half through 2027.
Second Quarter 2025 Financial Results
- Research and Development (R&D) Expenses: R&D expenses were
$41.4 million for the three months ended June 30, 2025, as compared to$43.1 million for the three months ended June 30, 2024. The decrease in R&D expenses is driven primarily by Prime Medicine’s strategic focus on advancing its in vivo liver franchise, deprioritization of its CGD program, and a reduction in R&D personnel resulting from the workforce reduction. - General and Administrative (G&A) Expenses: G&A expenses were
$13.1 million for the three months ended June 30, 2025, as compared to$12.6 million for the three months ended June 30, 2024. The increase in G&A expenses primarily consists of one-time severance payments and other employee termination-related expenses and an increase in Prime Medicine’s corporate legal expenses. - Net Loss: Net loss was
$52.6 million for the three months ended June 30, 2025, as compared to$55.3 million for the three months ended June 30, 2024. - Cash Position: As of June 30, 2025, cash, cash equivalents, investments, and restricted cash were
$115.4 million , as compared to$204.5 million as of December 31, 2024. Cash as of June 30, 2025 does not include gross proceeds of$144.2 million from the company’s follow-on underwritten public offering of common stock, which closed in August 2025.
Financial Guidance
Based on its current operating plans, Prime Medicine expects that its pro-forma cash, cash equivalents and investments of
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. Designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications, Prime Editors have the potential to repair almost all types of genetic mutations and work in many different tissues, organs and cell types. Taken together, Prime Editing’s versatile gene editing capabilities could unlock opportunities across thousands of potential indications.
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, and each expected to provide the foundation for expansion into additional opportunities. Over time, the Company intends to maximize Prime Editing’s broad and versatile therapeutic potential, as well as the modularity of the Prime Editing platform, to rapidly and efficiently expand beyond the diseases in its current pipeline, potentially including additional genetic diseases, immunological diseases, cancers, infectious diseases, and targeting genetic risk factors in common diseases, which collectively impact millions of people. For more information, please visit www.primemedicine.com.
From time to time Prime Medicine may use its website, its X, formerly Twitter, account (@PrimeMedicine) or its LinkedIn profile at https://www.linkedin.com/company/prime-medicine to distribute material information. Its financial and other material information is routinely posted to and accessible on the Investors section of its website, available at www.primemedicine.com. Investors are encouraged to review the Investors section of its website because the Company may post material information on that site that is not otherwise disseminated by the Company. Information that is contained in and can be accessed through the Company’s website or its social media is not incorporated into, and does not form a part of, this press release.
© 2025 Prime Medicine, Inc. All rights reserved. PRIME MEDICINE, the Prime Medicine logos, and PASSIGE are trademarks of Prime Medicine, Inc. All other trademarks referred to herein are the property of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about Prime Medicine’s beliefs and expectations regarding: the significance of data from its Phase 1/2 trial of PM359 on other pipeline programs and Prime Editing; the planned regulatory interactions with the FDA based on the data from its Phase 1/2 trial of PM359 and the outcomes of any such interactions; its evaluation of strategic alternatives and potential partnership opportunities for PM359, including its ability to execute and realize the anticipated benefits of any strategic alternatives it may pursue; the agreement with the CF Foundation, its expanded funding pursuant thereto, and the intended and potential benefits thereof, including the receipt of payments based on scientific milestones; the continued advancement of PASSIGE-based approaches for correcting CF mutations other than G542X; the continued development and advancement of its AATD and Wilson’s Disease programs, including the timing of initial clinical data for both programs in 2027; the initiation, timing, progress, and results of its research and development programs, preclinical studies and future clinical trials, including the release of data related thereto; the potential of Prime Editing to correct the causative mutations of, and to cure, diseases, including AATD, Wilson’s Disease, CF and CGD; its expectations regarding the anticipated benefits of its May 2025 strategic restructuring and reduction in force and its ability to implement and achieve the expected cost savings in connection therewith; its expectations regarding the breadth of Prime Editing technology and the implementation of its strategic plans for its business, programs, and technology; the potential of Prime Editing to unlock opportunities across thousands of potential indications; and its expected cash runway.
Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: uncertainties related to Prime Medicine’s product candidates entering clinical trials; the authorization, initiation, and conduct of preclinical and IND-enabling studies and other development requirements for potential product candidates, including uncertainties related to opening INDs and obtaining regulatory approvals; risks related to the development and optimization of new technologies, the results of preclinical studies, or clinical studies not being predictive of future results in connection with future studies; the scope of protection Prime Medicine is able to establish and maintain for intellectual property rights covering its Prime Editing technology; Prime Medicine’s ability to identify and enter into future license agreements and collaborations; Prime Medicine’s expectations regarding the anticipated timeline of its cash runway and future financial performance; and general economic, industry and market conditions. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Prime Medicine’s most recent Annual Report on Form 10-K, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Prime Medicine’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Prime Medicine explicitly disclaims any obligation to update any forward-looking statements subject to any obligations under applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
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
| Condensed Consolidated Balance Sheet Data | ||||||
| (unaudited) | ||||||
| (in thousands) | June 30, 2025 | December 31, 2024 | ||||
| Cash, cash equivalents, and investments | $ | 101,750 | $ | 190,442 | ||
| Total assets | $ | 279,009 | $ | 297,508 | ||
| Total liabilities | $ | 218,149 | $ | 144,359 | ||
| Total stockholders’ equity | $ | 60,860 | $ | 153,149 | ||
| Condensed Consolidated Statement of Operations | ||||||||
| (unaudited) | ||||||||
| Three Months Ended June 30, | ||||||||
| (in thousands, except share and per share amounts) | 2025 | 2024 | ||||||
| Revenue: | ||||||||
| Collaboration revenue — related party | $ | 1,115 | $ | — | ||||
| Collaboration revenue | — | — | ||||||
| Total revenue | 1,115 | — | ||||||
| Operating expenses: | ||||||||
| Research and development | 41,375 | 43,071 | ||||||
| General and administrative | 13,117 | 12,601 | ||||||
| Total operating expenses | 54,492 | 55,672 | ||||||
| Loss from operations | (53,377 | ) | (55,672 | ) | ||||
| Other income: | ||||||||
| Interest income | 743 | 611 | ||||||
| Accretion (amortization) of investments | 530 | 1,486 | ||||||
| Change in fair value of short-term investment — related party | (505 | ) | (1,925 | ) | ||||
| Other income, net | 18 | 39 | ||||||
| Total other income, net | 786 | 211 | ||||||
| Net loss before income taxes | (52,591 | ) | (55,461 | ) | ||||
| Provision for income taxes | — | 134 | ||||||
| Net loss attributable to common stockholders | $ | (52,591 | ) | $ | (55,327 | ) | ||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.41 | ) | $ | (0.46 | ) | ||
| Weighted-average common shares outstanding, basic and diluted | 129,185,918 | 119,188,866 | ||||||
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