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Mar 31
Prime Medicine Q1 2025 Earnings Report
Prime Medicine reported its financial results for the first quarter of 2025, highlighting advancements in its genetic therapy programs and providing business updates.
Key Takeaways
Prime Medicine reported a net loss of $51.9 million for the first quarter of 2025, an increase from $45.8 million in the same period last year. The company saw an increase in both R&D and G&A expenses, primarily due to expansion of laboratory space and personnel. Despite the loss, Prime Medicine is advancing its clinical programs, with initial data from its PM359 trial expected in 2025 and IND/CTA filings for Wilson's Disease and AATD targeted for 2026.
Net loss for Q1 2025 was $51.9 million, compared to $45.8 million in Q1 2024.
Research and Development expenses increased to $40.6 million in Q1 2025 from $37.8 million in Q1 2024.
General and Administrative expenses rose to $13.3 million in Q1 2025 from $11.2 million in Q1 2024.
Cash, cash equivalents, and investments stood at $144.256 million as of March 31, 2025.
Prime Medicine
Prime Medicine
Prime Medicine Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Prime Medicine expects its current cash, cash equivalents, and investments to be sufficient to fund operating expenses and capital expenditure requirements into the first half of 2026.
Positive Outlook
- Initial data from Phase 1/2 trial of PM359 for p47phox CGD expected in 2025.
- IND and/or CTA for PM577 for Wilson's Disease on-track for 1H 2026.
- IND and/or CTA filing targeted for mid-2026 for AATD program.
- Prime Editing technology has the potential to correct disease-causing mutations without introducing off-target or bystander edits.
- Company is committed to building a liver franchise of Prime Editors to cure major genetic diseases.
Challenges Ahead
- Uncertainties related to Prime Medicine's product candidates entering clinical trials.
- Risks related to the development and optimization of new technologies.
- Preclinical studies or clinical studies not being predictive of future results.
- Uncertainties related to obtaining regulatory approvals.
- Risks associated with the scope of intellectual property protection.