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PRME

Prime Medicine, Inc.

PRME

Prime Medicine, Inc. • NASDAQ
$3.82 ▲ 2.96% (+0.11)
Market Cap $676.15 M
52w High $6.94
52w Low $1.11
Dividend Yield 0%
P/E -2.69
Volume 2.16M
Outstanding Shares 177.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.225M ▲ $11.208M ▼ $-50.582M ▲ -4.129K% ▲ $-0.32 ▲ $-48.701M ▲
Q2-2025 $1.115M ▼ $52.628M ▼ $-52.591M ▼ -4.717K% ▼ $-0.407 ▼ $-51.513M ▼
Q1-2025 $1.454M ▼ $53.846M ▲ $-51.89M ▼ -3.569K% ▼ $-0.397 ▼ $-50.692M ▼
Q4-2024 $2.183M ▲ $46.405M ▼ $-42.276M ▲ -1.937K% ▲ $-0.356 ▲ $-42.505M ▲
Q3-2024 $209K $54.441M $-52.518M -25.128K% $-0.439 $-52.674M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $208.426M ▲ $385.012M ▲ $223.191M ▲ $161.821M ▲
Q2-2025 $101.75M ▼ $279.009M ▼ $218.149M ▼ $60.86M ▼
Q1-2025 $144.256M ▼ $328.163M ▲ $221.239M ▲ $106.924M ▼
Q4-2024 $190.442M ▲ $297.508M ▼ $144.359M ▲ $153.149M ▼
Q3-2024 $175.527M $332.784M $143.28M $189.504M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-50.582M ▲ $-35.039M ▲ $-92.122M ▼ $144.753M ▲ $17.592M ▲ $-35.286M ▲
Q2-2025 $-52.591M ▼ $-41.412M ▲ $2.771M ▲ $197K ▼ $-38.444M ▲ $-42.984M ▲
Q1-2025 $-51.89M ▼ $-48.857M ▼ $-47.742M ▼ $6M ▲ $-90.599M ▼ $-51.279M ▼
Q4-2024 $-42.276M ▲ $16.245M ▲ $48.253M ▼ $1K ▼ $64.499M ▲ $14.454M ▲
Q3-2024 $-52.518M $-25.912M $50.342M $38.513M $62.943M $-27.189M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Prime Medicine is still very much in the “investment phase” of its life. It has essentially no product revenue yet, and its income statement is dominated by research and development and other operating costs. Losses have been consistent and meaningful each year, which is typical for early-stage biotech firms building a complex platform. The losses have grown as the company scaled up its work, though more recently they appear to be stabilizing rather than accelerating. In practical terms, this is a pure R&D story, not an earnings story, and profitability is likely many years away and highly dependent on clinical success.

Balance Sheet

Balance Sheet The balance sheet shows a company funded mainly by equity and cash, with only a modest amount of debt. Cash makes up a large share of total assets, which is what you’d expect for a biotech that has not yet commercialized products. Equity has come down from earlier highs as losses accumulate, but it remains positive, suggesting the company still has a solid capital cushion. The increase in cash compared with the prior year points to recent capital raising or partnership inflows. Overall, the balance sheet looks relatively clean and simple, but it is gradually being consumed by ongoing R&D spending.

Cash Flow

Cash Flow Cash is consistently flowing out of the business, almost entirely due to operating activities like research and development, clinical planning, and overhead. Free cash flow is negative and closely tracks operating cash outflow, since capital spending on equipment and facilities is comparatively small. This pattern is very typical for a platform biotech company before it enters the clinic. The key question is whether the current cash on hand, combined with any partnership funding, is sufficient to cover this burn rate until the next major milestones, given that the company itself expects its cash runway to last into 2027.

Competitive Edge

Competitive Edge Prime Medicine sits in a highly competitive and fast-moving gene-editing landscape. Its main strength is a differentiated technology platform—Prime Editing—which aims to make very precise “search and replace” changes in DNA, potentially covering a wider range of mutations than many rival approaches. Strong intellectual property around this platform forms an important barrier to direct imitation. However, there are several well-funded competitors in gene editing, some of which are already further along in clinical development. The collaboration with Bristol Myers Squibb validates the platform and broadens its reach, but overall, Prime’s economic moat is still emerging rather than firmly established, and the company operates under intense scientific and commercial pressure.

Innovation and R&D

Innovation and R&D Innovation is the heart of Prime Medicine. Its Prime Editing technology is designed to offer more precise and versatile gene correction than traditional CRISPR tools, and the company is extending this with PASSIGE for whole-gene insertion. R&D spending is heavy as the company builds out a pipeline focused mainly on in‑vivo liver-directed therapies, including programs for Alpha‑1 Antitrypsin Deficiency and Wilson’s disease. Prime has also pruned its portfolio by shifting away from some ex‑vivo efforts like Chronic Granulomatous Disease to concentrate on areas where it believes its technology can be most differentiated. Most programs remain preclinical, with first clinical trials targeted for the middle of this decade. The company’s future depends on translating this scientific promise into safe, effective therapies and on continuing to advance delivery technologies such as lipid nanoparticles and RNA-based systems.

Summary

Prime Medicine is an early-stage gene-editing company built around a sophisticated “search and replace” DNA technology that could, in theory, address a very broad range of genetic diseases. Financially, it is a classic pre-revenue biotech: meaningful and steady losses, negative cash flow, and a balance sheet anchored by cash raised from investors and partners. Its scientific platform and partnerships give it clear opportunities, but the path is long, clinical risk is high, and competition is intense. The story today is about technology development, pipeline progress, and careful management of cash runway, rather than near-term profitability or revenue. Investors and stakeholders will likely focus on upcoming regulatory filings, initial clinical data, and additional collaborations as the main markers of whether the company can convert its ambitious science into durable value.

NEWS

November 25, 2025 · 8:00 AM UTC

Prime Medicine to Present at 8th Annual Evercore Healthcare Conference

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November 11, 2025 · 8:00 AM UTC

Prime Medicine to Present at Jefferies Global Healthcare Conference

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November 7, 2025 · 10:21 AM UTC

CORRECTION - Prime Medicine Reports Third Quarter 2025 Financial Results and Provides Business Updates

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November 7, 2025 · 7:00 AM UTC

Prime Medicine Reports Third Quarter 2025 Financial Results and Provides Business Updates

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November 3, 2025 · 8:01 AM UTC

Prime Medicine Appoints Matthew Hawryluk, Ph.D., M.B.A. as Chief Business Officer

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