Loading...
•
Sep 30, 2024
Prime Medicine Q3 2024 Earnings Report
Prime Medicine reported third quarter results, highlighted strategic pipeline prioritization, and announced a research collaboration with Bristol Myers Squibb.
Key Takeaways
Prime Medicine reported a net loss of $52.5 million for the third quarter of 2024. They received $110 million upfront from Bristol Myers Squibb through a strategic research collaboration. Pro-forma cash, cash equivalents, and investments are expected to fund operations into 1H 2026.
Presented initial in vivo data for universal liver-targeted LNP and Wilson’s Disease program at ESGCT.
Initiated IND-enabling activities for Wilson’s Disease program in 4Q 2024, on track to file IND and/or CTA in 1H 2026.
Announced strategic research collaboration and license agreement with Bristol Myers Squibb; received $110 million upfront, with potential for more than $3.5 billion in milestone payments.
On track to report initial data from Phase 1/2 clinical trial of PM359 for p47phox CGD in 2025.
Revenue by Segment
Forward Guidance
Prime Medicine expects that its pro-forma cash, cash equivalents and investments as of September 30, 2024 will be sufficient to fund its operating expenses and capital expenditure requirements into the first half of 2026.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...