Prime Medicine reports FY 2022 net loss of $121.8M; nominates first development candidate PM359 for CGD

Prime Medicine, Inc.

Q4 2022 net loss $39.3M; full-year net loss $121.8M vs $165.4M in 2021.
Cash, short-term investments $293.9M as of Dec 31, 2022, sufficient into 2025.
Nominated PM359 as first development candidate for chronic granulomatous disease; IND-enabling studies planned in 2023.
Preclinical proof-of-concept data for Friedreich's ataxia, cystic fibrosis, Wilson's disease, and PASSIGE technology disclosed.
October 2022 IPO raised $180.2M net proceeds from upsized offering at $17.00 per share.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Prime Medicine, Inc. reported fourth quarter and full year ended December 31, 2022 results: net income Net loss was $39.3 million for the fourth quarter of 2022 and $121.8 million for the year ended December 31, 2022.

Period: fourth quarter and full year ended December 31, 2022
Net income: Net loss was $39.3 million for the fourth quarter of 2022 and $121.8 million for the year ended December 31, 2022
Result: reported results

Exact text from the filing

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 and provided a business update for the fourth quarter and full year ended December 31, 2022.

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Prime Medicine, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-065373

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