Prime Medicine Q2 net loss $42.4M; cash $221.1M; Cimeio partnership

Prime Medicine, Inc.

Net loss of $42.4M for Q2 2023 vs $29.3M in Q2 2022; R&D expenses $34.6M (+83% YoY).
Cash, equivalents and investments $221.1M as of June 30, 2023; runway into 2025.
Entered research collaboration with Cimeio Therapeutics to develop shielded cell therapies for genetic diseases.
PM359 for chronic granulomatous disease advancing; IND-enabling studies expected in 2023.
First IND filing anticipated as early as 2024; additional filings in 2025.

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 second quarter ended June 30, 2023 results: net income Net loss was $42.4 million for the three months ended June 30, 2023.

Period: second quarter ended June 30, 2023
Net income: Net loss was $42.4 million for the three months ended June 30, 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 second quarter ended June 30, 2023.

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Prime Medicine, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-027756

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