Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 73

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 the restricted stock units shall be recognized in full during the three 

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and nine months ended September 30, 2025. The amount is recorded as research and development expense on the Company’s condensed consolidated statements of operations.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 EndedSeptember 30,Nine Months EndedSeptember 30,(in thousands)2025202420252024Stock-based compensation expense:Research and development$10,770 $2,982 $16,844 $9,928 General and administrative1,977 3,845 7,909 10,199 Total stock-based compensation expense$12,747 $6,827 $24,753 $20,127 

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 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 Research Collaboration and License Agreement (the “BMS Collaboration Agreement”) with Juno Therapeutics, Inc., a wholly-owned subsidiary of the Bristol-Myers Squibb Company (“BMS”), consisted of the following:(in thousands)September 30,2025December 31,2024Collaboration receivable — related party$— $— Deferred revenue — related party$6,951 $7,092 Deferred revenue, net of current — related party$59,751 $63,218 Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Revenue recognized that was included in contract liability at the beginning of the period$1,110 $— $3,652 $— Revenue recognized from performance obligations fully or partially satisfied in previous periods$— $— $3 $— As of September 30, 2025, the aggregate amount of the transaction price allocated to performance obligations under the BMS Collaboration Agreement that are partially unsatisfied