Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 105

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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 BMS in September 2024; and

•$2.0 million change in accrued expenses and other current liabilities.

Investing Activities 

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

•$132.9 million of purchases of marketable securities, net of maturities; and

•$4.2 million of purchases of property and equipment.

Net cash provided by investing activities for the nine months ended September 30, 2024 was driven primarily by $25.0 million of maturities of marketable securities, net of purchases, offset by $5.5 million of purchases of property and equipment.

Financing Activities 

Net cash provided by financing activities for the nine months ended September 30, 2025 was driven primarily by the following:

•$138.4 million of net proceeds from issuances of common stock in our August 2025 public offering; and

•$12.0 million of proceeds received under our agreement with Cystic Fibrosis Foundation.

31

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

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

•$38.1 million of proceeds from issuance of common stock to BMS in September 2024;

•$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, 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