Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 82

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 vivo liver franchise.

General and Administrative Expenses

Nine Months EndedSeptember 30,(in thousands)20252024ChangeGeneral and administrative expenses:Personnel expenses$18,608 $20,273 $(1,665)Professional and consultant fees12,269 10,129 2,140 Facility related and other6,732 7,458 (726)Total general and administrative expenses$37,609 $37,860 $(251)

The $0.3 million decrease in general and administrative expense for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 is primarily driven by $1.7 million decrease in personnel expenses driven primarily by a decrease of $2.3 million in stock-based compensation expense, offset by one-time severance payments and other employee termination-related expenses in connection with the May 2025 reduction in force.

This is further offset by a $2.1 million increase in professional and consultant fees due an increase in corporate legal expenses.

Other Income (Expense)

Nine Months EndedSeptember 30,(in thousands)20252024ChangeOther income:Interest income$3,066 $1,984 $1,082 Accretion (amortization) of investments1,621 3,201 (1,580)Change in fair value of short-term investment — related party(107)(544)437 Other income, net99 (2)101 Total other income, net$4,679 $4,639 $40 

Interest income

Increase in interest income is a result of an increase in interest bearing marketable securities purchased from funds raised in our August 2025 offering.

Accretion (amortization) of investments

Accretion (amortization) of investments for each of the periods presented is a result of increase (decrease) in the value of the our marketable securities purchased at a discount (premium) to their face value.

Liquidity and Capital Resources

Since our inception, we have incurred significant operating losses. We expect to incur significant expenses and operating losses for the foreseeable future as we advance the preclinical development of our current research programs, commence the clinical development of any product candidates we may identify, and continue our 

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platform development and early-stage research activities. We have not yet commercialized any products and we do not expect to generate revenue from sales of products for several years, if at all. To date