Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 51

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 51
---
 (File No. 333-275321) and related to the shares of our common stock issuable pursuant to the Sales Agreement (the “Prior Registration Statement”). As a result, we will not make any sales of our common stock pursuant to the Sales Agreement, unless and until a new prospectus, prospectus supplement or a new registration statement is filed. Other than the termination of the ATM Prospectus, the Sales Agreement remains in full force and effect. As of the date of this Quarterly Report on Form 10-Q, we have not sold any shares of common stock under the ATM program.

Concurrently with the filing of this Quarterly Report on Form 10-Q, we plan to file a new registration statement on Form S-3ASR, including a sales agreement prospectus with respect to the ATM Program, to replace the Prior Registration Statement, which will expire on November 13, 2026, in accordance with applicable SEC regulations. Pursuant to Rule 415(a)(6) under the Securities Act, the offering of securities under the Prior Registration Statement will be deemed terminated as of the effectiveness of the new registration statement. 

In August 2025, we issued and sold 43,700,000 shares of our common stock, including 5,700,000 shares pursuant to the exercise of the underwriters’ option to purchase additional shares, at a price to the public of $3.30 per share. As a result of the offering, we received approximately $138.4 million in net proceeds, after deducting underwriting discounts, commissions and offering costs of approximately $5.8 million.

Cash Flows 

The following table summarizes our sources and uses of cash for each of the periods presented: 

Nine Months EndedSeptember 30,(in thousands)20252024Net change in cash, cash equivalents and restricted cash:Net cash used in operating activities$(125,308)$(139,110)Net cash (used in) provided by investing activities(137,093)20,204 Net cash provided by financing activities150,950 195,875 Net change in cash, cash equivalents, and restricted cash$(111,451)$76,969 

Operating Activities 

Net cash used in operating activities for the nine months ended September 30, 2025 was driven primarily by the following uses of cash:

•$155.1 million net loss;

•$3.7 million change in lease liabilities

•$3.6 million change in deferred revenue — related party; and

•$2