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GlobeNewswire·

Prime Medicine Reports Third Quarter 2026 Financial Results and Provides Business Updates

PRME
  • Prime Medicine dosed the first patient in its global Phase 1/2 clinical trial of PM577a for Wilson disease, marking the first in vivo Prime Editing therapy study with initial data expected in 2027.
  • The FDA cleared the Investigational New Drug application for PM647 to treat Alpha-1 Antitrypsin Deficiency, with initial clinical data also anticipated in 2027.
  • The company plans to submit a Biologics License Application for PM359 in Chronic Granulomatous Disease during the first half of 2027.
  • Prime Medicine closed an underwritten public offering, including the full exercise of the underwriters' option, raising $143.7 million in gross proceeds.
  • Pro-forma cash, cash equivalents, investments, and restricted cash total approximately $209.5 million, providing a cash runway through 2027.
  • Research and development expenses for the quarter ended September 30, 2026, were $34.1 million, down from $44.0 million in the same period in 2025.
  • General and administrative expenses for the quarter ended September 30, 2026, were $10.0 million, compared to $11.2 million in the prior year period.
  • The company reported a net loss of $39.0 million for the three months ended September 30, 2026, compared to a net loss of $50.6 million in the prior year period.
  • PM577a received Rare Pediatric Disease designation from the FDA in October 2026 and targets the ATP7B H1069Q mutation.
  • PM647 development follows the resolution of an arbitration dispute with Beam Therapeutics in July 2026 regarding the right to the program.
  • Prime Medicine continues advancing its in vivo Cystic Fibrosis program with support from the Cystic Fibrosis Foundation.
  • The company maintains a partnership with Bristol Myers Squibb to develop Prime Edited ex vivo CAR-T products for hematology, immunology, and oncology.
Company
Prime Medicine, Inc.
Keywords
Nasdaq:PRME, Prime Medicine, Inc.