Company: PRME
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038619
Chunk: 41

Company: Prime Medicine, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 the purposes of assessing performance and making operating decisions.

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Our chief executive officer, who is the CODM, manages and allocates resources to the operations of our company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with our long-term company-wide strategic goals. In making these decisions, the CODM uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual net loss verses the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the consolidated balance sheets as total assets.The following table contains additional information on our consolidated net loss, including significant segment expenses:Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Total revenue$1,115 $— $2,569 $591 Operating expenses:Research and development expensesPersonnel expenses14,448 16,198 29,248 31,205 Facility related13,765 11,302 24,734 18,636 Research costs8,116 11,390 19,152 23,009 General and administrative expenses:Personnel expenses7,082 6,956 14,238 12,840 Other segment items (1)11,081 9,826 20,966 18,914 Total operating expenses54,492 55,672 108,338 104,604 Total other income, net786 211 1,288 2,925 Provision for income taxes— 134 — — Net loss$(52,591)$(55,327)$(104,481)$(101,088)(1) Other segment items consist of professional and consultant fees, license and intellectual property fees, general and administrative facility costs, and settlement costs.Recently Issued Accounting Pronouncements Not Yet AdoptedIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires enhanced income tax disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes