Company: PRME
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-008884
Chunk: 282

Company: Prime Medicine, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 282
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 the Company’s performance-based restricted common stock award activity for the year ended December 31, 2024:Number of SharesWeighted-Average Grant-Date Fair ValueUnvested restricted common stock at December 31, 20233,832,769 $0.07 Issued— — Vested(360,226)0.18 Repurchased— — Unvested restricted common stock at December 31, 20243,472,543 $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 consolidated statements of operations and comprehensive loss:Year ended December 31,(in thousands)20242023Stock-based compensation expense:Research and development$12,704 $7,950 General and administrative13,364 5,960 Total stock-based compensation expense$26,068 $13,910 

9.License and Collaboration Agreements 

License Agreements with Broad Institute2019 License Agreement with Broad InstituteIn September 2019, the Company entered into a license agreement with Broad Institute, Inc. (“Broad Institute”) for certain patents related to the field of prevention or treatment of human disease by editing or targeting DNA (the “Broad License Agreement”). In subsequent periods, the Broad License Agreement has been subject to amendments. Under the Broad License Agreement, Broad Institute granted the Company (i) an exclusive, worldwide license under the licensed patent rights solely to offer for sale, sell, have sold and import products covered by such licensed patent rights, or licensed products, solely for use within the Prime Broad Field (subject to certain specified limitations and exclusions with respect to certain applications), (ii) a non-exclusive, worldwide license under the licensed patent rights solely to make, have made, offer for sale, sell, have sold, and import licensed products solely for use in the Prime Broad Field, (iii) a non-exclusive, worldwide license under the licensed patent rights solely to make, have made, offer for sale, sell, have sold and import other products that are enabled by (a) the licensed patent rights or (b) the use of certain materials transferred to the Company by Broad Institute, solely for the prevention or treatment of human diseases and (iv) a non-exclusive, worldwide license solely for internal research. Further, with respect to DNA delivery or targeting applications covered by the licensed patent rights, the exclusive license granted to the Company by Broad Institute is limited only to