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

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 Securities Purchase Agreement — related party— 38,081 Proceeds from issuance of pre-funded warrants, net of issuance costs— 18,800 Net cash provided by financing activities150,950 195,875 Net change in cash, cash equivalents, and restricted cash(111,451)76,969 Cash, cash equivalents, and restricted cash at beginning of period196,538 55,070 Cash, cash equivalents, and restricted cash at end of period$85,087 $132,039 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9

PRIME MEDICINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months EndedSeptember 30,(in thousands)20252024Reconciliation of cash, cash equivalents and restricted cash:Cash, cash equivalents, and restricted cash at end of period$85,087 $132,039 Less: restricted cash13,691 14,062 Total cash, and cash equivalents$71,396 $117,977 Supplemental cash flow information:Right-of-use assets obtained in exchange for new operating lease liabilities$83,757 $44,935 Decrease in right-of-use assets due to lease termination$3,120 $— Supplemental disclosure of non-cash investing and financing activities:Purchases of property and equipment included in accounts payable and accrued expenses$— $111 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

10

PRIME MEDICINE, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.Nature of the Business and Basis of Presentation

Prime Medicine, Inc., together with its consolidated subsidiary (the “Company”) is a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies. The Company is deploying Prime Editing technology, which it believes is a versatile, precise, and efficient gene editing technology. The Company was incorporated in the State of Delaware in September 2019. Its principal offices are in Cambridge, Massachusetts.Liquidity and Capital Resources Since its inception, the Company has devoted substantially all of its resources to building its Prime Editing platform and advancing development of its portfolio of programs, establishing and protecting its intellectual property, conducting research and development activities, organizing and staffing the company, business planning, raising capital and providing general and administrative