Company: PRME
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023486
Chunk: 68

Company: Prime Medicine, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 weighted-average period of 2.8 years.

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Performance-Based Stock OptionsThe following table summarizes the Company’s performance-based stock option activity for the three months ended March 31, 2025:Number of SharesWeighted-AverageGrant Date Fair ValueOutstanding at December 31, 20241,061,730 $7.31 Granted— — Exercised— — Cancelled or forfeited— — Outstanding at March 31, 20251,061,730 $7.31 Vested and exercisable at March 31, 2025590,230 $7.07 As of March 31, 2025, there was $3.0 million of total unrecognized compensation cost related to performance-based stock options.Performance-Based Restricted Common Stock Awards The Company awarded restricted common stock to employees and non-employees under its 2019 Plan. The following table summarizes the Company’s performance-based restricted common stock activity for the three months ended March 31, 2025:Number of SharesWeighted-Average Grant-Date Fair ValueOutstanding at December 31, 20243,472,543 $0.06 Issued— — Vested— — Repurchased— — Outstanding at March 31, 20253,472,543 $0.06 Stock-Based CompensationThe following table below summarizes the classification of the Company’s stock-based compensation expense related to stock options and restricted common stock awards in the condensed consolidated statements of operations and comprehensive loss:Three Months EndedMarch 31,(in thousands)20252024Stock-based compensation expense:Research and development$2,856 $2,725 General and administrative2,825 2,484 Total stock-based compensation expense$5,681 $5,209 

9.Significant Agreements 

The Company’s significant agreements are disclosed in Note 9, License and Collaboration Agreements, in the audited consolidated financial statements for the year ended December 31, 2024, and notes thereto, included in the Company’s Annual Report on Form 10-K that was filed with the SEC on February 28, 2025. Since the date of those 

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financial statements, there have been no changes to the Company’s significant agreements except those discussed below.Bristol-Myers Squibb — Related PartySupplemental information related to the BMS Collaboration Agreement consisted of the following:(in thousands)March 31