Prime Medicine reports Q1 net loss $39.4M, cash $263M; nominates first development candidate PM359 for CGD

Prime Medicine, Inc.

2023-Q1 EPS reported -$0.44

Net loss of $39.4M for Q1 2023 vs $23.8M in Q1 2022; R&D expenses $30.9M.
Cash, cash equivalents, investments and restricted cash $263.0M as of March 31, 2023; runway into 2025.
Appointed Jeff Marrazzo (former CEO of Spark Therapeutics) to Board of Directors.
U.S. PTO issued second patent (No. 11,643,652) and allowed third patent application for Prime Editing.
Plans to initiate IND-enabling studies for PM359 in CGD in 2023; first IND filing as early as 2024.

item 2.02 item 9.01

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 financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
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 business updates for the first quarter ended March 31, 2023.

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Prime Medicine, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-017419

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