Company: PRME
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-008884
Chunk: 271

Company: Prime Medicine, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 271
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 loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, and in January 2025, issued ASU 2025-01, Clarifying the Effective Date, which requires more detailed information about specified categories of expenses included in certain expense captions presented on the face of the income statement. This ASU is effective for the first annual reporting period beginning after December 15, 2026, and for interim reporting 

F-16

periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this ASU will have on its disclosures.Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

3.Fair Value Measurements

The following tables present the Company’s fair value hierarchy for its assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair value:December 31, 2024(in thousands)Level 1Level 2Level 3TotalCash equivalents:Money market funds$— $178,212 $— $178,212 Corporate debt securities— 3,793 — 3,793 Short-term investments:U.S. Treasury and government securities— 2,998 — 2,998 Related party short-term investment:Beam equity securities4,968 — — 4,968 Total cash equivalents and investments$4,968 $185,003 $— $189,971 December 31, 2023(in thousands)Level 1Level 2Level 3TotalCash equivalents:Money market funds$— $24,209 $— $24,209 Short-term investment:U.S. Treasury and government securities— 74,