Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 24

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 on investments, net of tax— — — 92 — 92 Net loss— — — — (52,518)(52,518)Balance as of September 30, 2024131,160,842 $2 $834,417 $21 $(644,936)$189,504 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

8

PRIME MEDICINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months EndedSeptember 30,(in thousands)20252024Cash flows used in operating activities:Net loss$(155,063)$(153,606)Adjustments to reconcile net loss to net cash used in operating activitiesStock-based compensation expense24,753 20,127 Non cash lease expense7,095 10,147 Depreciation expense5,445 4,411 Change in fair value of short-term investment — related party107 544 Amortization of premiums and discount on short-term investments(1,149)(2,949)Changes in operating assets and liabilities:Collaboration receivable — related party— (55,000)Prepaid expenses and other current assets1,949 (9,466)Accounts payable1,577 (7,717)Accrued expenses and other current liabilities(2,760)1,987 Accrued settlement payment — related party— (13,500)Deferred revenue — related party(3,608)71,919 Lease liabilities(3,654)(6,007)Net cash used in operating activities(125,308)(139,110)Cash flows (used in) provided by investing activities:Maturities of investments56,681 171,300 Purchases of investments(189,533)(146,317)Purchases of property and equipment(4,241)(5,503)Return (payments) of security deposits— 724 Net cash (used in) provided by investing activities(137,093)20,204 Cash flows provided by financing activities:Proceeds from follow-on offering, net of issuance costs138,380 132,055 Proceeds from research and development funding liability12,000 6,000 Net proceeds from stock option exercises373 103 Proceeds from ESPP offerings197 836 Proceeds from issuance of common stock under the BMS