Company: PRME
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038619
Chunk: 90

Company: Prime Medicine, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 90
---
$786 $211 $575 

Change in Fair Value of Related Party Short-Term Investment

The change in fair value of related party short-term investment for each of the periods presented is a result of Beam’s stock price movement.

Comparison of the Six Months Ended June 30, 2025 and 2024

Operating Expenses

Research and Development Expenses

Six Months EndedJune 30,(in thousands)20252024ChangeResearch and development expenses:Personnel expenses$29,248 $31,205 $(1,957)Facility related24,734 18,636 6,098 Research costs19,152 23,009 (3,857)License, intellectual property fees, and other4,237 2,925 1,312 Professional and consultant fees2,819 2,873 (54)Clinical expense1,747 2,197 (450)Total research and development expenses$81,937 $80,845 $1,092 

27

The $1.1 million increase in research and development expense for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 was primarily driven by:

•$6.1 million increase in facility-related expense primarily due to the expansion and build out of our laboratory space at 60 First Street and 500 Arsenal Street; and

•$1.3 million increase in license and IP costs as we advance our in vivo liver franchise and pipeline.

This is offset by:

•$3.9 million decrease in research costs due to the deprioritization of our CGD programs as we strategically focus our internal efforts on advancing our in vivo liver franchise; and

•$2.0 million decrease in personnel expenses, driven primarily by a decrease of $0.9 million in stock-based compensation expense and fewer R&D personnel resulting from the workforce reduction.

General and Administrative Expenses

Six Months EndedJune 30,(in thousands)20252024ChangeGeneral and administrative expenses:Personnel expenses$14,238 $12,840 $1,398 Professional and consultant fees7,228 5,931 1,297 Facility related and other4,935 4,988 (53)Total general and administrative expenses$26,401 $23,759 $2,642 

The $2.6 million increase in general and administrative expense for the six months ended June 30