Prime Medicine reports FY2023 net loss of $198.1M; eyes IND/CTA for CGD in 1H 2024

Prime Medicine, Inc.

Net loss widened to $198.1M in FY2023 ($121.8M in FY2022); R&D expenses $147.9M up from $86.7M.
Cash, equivalents, investments, restricted cash $135.2M at Dec 31, 2023, vs $307.4M year earlier.
Closed upsized public offering in Feb 2024, gross proceeds ~$161.0M at $6.25 per share.
Expects to file IND/CTA for PM359 (CGD) in 1H 2024; initial clinical data anticipated in 2025.
Received Orphan Drug Designation for PM359; $15M CF Foundation funding for CF Prime Editors.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Prime Medicine, Inc. reported the full year ended December 31, 2023 results: net income $198.1 million.

Period: the full year ended December 31, 2023
Net income: $198.1 million
Result: reported results

Exact text from the filing

Net loss was $198.1 million for the year ended December 31, 2023

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Source: SEC EDGAR

accession 0001628280-24-008113

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