Company: PRME
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038619
Chunk: 63

Company: Prime Medicine, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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$3.9 million change in accrued expenses and other current liabilities; and

•$2.5 million change in prepaid and other current assets.

These were offset by $22.8 million of non-cash amounts included in net loss, which primarily consisted of stock-based compensation expense, non-cash lease expense, and depreciation expense.

Investing Activities 

Net cash used in investing activities for the six months ended June 30, 2025 was driven primarily by the following:

•$41.0 million of purchases of marketable securities, net of maturities; and

•$4.0 million of purchases of property and equipment.

Net cash used in investing activities for the six months ended June 30, 2024 was driven primarily by the following:

•$25.9 million of purchases of marketable securities, net of maturities; and

•$4.2 million of purchases of property and equipment.

Financing Activities 

Net cash provided by financing activities for the six months ended June 30, 2025 was driven by $6.0 million of proceeds received under our agreement with Cystic Fibrosis Foundation.

Net cash provided by financing activities for the six months ended June 30, 2024 was driven primarily by the following:

•$132.1 million of proceeds from issuances of common stock in our February 2024 public offering;

•$18.8 million of proceeds from issuance of pre-funded warrants contemporaneous with our February 2024 public offering; and

•$6.0 million of proceeds received under our agreement with Cystic Fibrosis Foundation.

Funding Requirements 

To date, we have not generated any revenue from product sales. We do not expect to generate revenue from product sales unless and until we successfully complete preclinical and clinical development of, receive regulatory approval for, and commercialize a product candidate and we do not know when, or if at all, that will occur. We expect our expenses to increase in connection with our ongoing activities, particularly as we advance the preclinical activities and studies and initiate clinical trials. In addition, if we obtain regulatory approval for any product candidates, we expect to incur significant expenses related to product sales, marketing, and distribution to the extent that such sales, 

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marketing and distribution are not the responsibility of potential collaborators. Further, we have incurred, and expect to continue to incur, costs associated with operating as a public company. The timing and amount of our operating expenditures will depend largely on