Company: PRME
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023486
Chunk: 61

Company: Prime Medicine, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 securities:U.S. Treasury and government securities$38,595 $— $(12)$38,583 Corporate debt securities9,887 — (3)9,884 Total short-term investments in debt securities$48,482 $— $(15)$48,467 

15

As of December 31, 2024:(in thousands)Amortized CostUnrealized GainsUnrealized LossesFair ValueShort-term investments:U.S. Treasury and government securities$2,997 $1 $— $2,998 Total short-term investments in debt securities$2,997 $1 $— $2,998 The contractual maturities of the Company’s investments in debt securities held were as follows:(in thousands)March 31,2025December 31,2024Due within one year$48,467 $2,998 Marketable securities in unrealized loss positions consisted of the following: As of March 31, 2025:(in thousands, except number of securities)Number of SecuritiesFair ValueGross Unrealized LossesInvestments in continuous loss position for less than 12 months:U.S. Treasury and government securities11 $38,583 $(12)Corporate debt securities10 $9,884 $(3)Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses as of March 31, 2025 related to these investments. Further, given the lack of significant change in the credit risk, the Company does not consider these investments to be impaired.

4.Property and Equipment, Net 

Property and equipment, net consisted of the following:(in thousands)March 31,2025December 31,2024Property and equipment:Laboratory equipment$28,093 $27,343 Leasehold improvement8,269 5,136 Furniture and Fixture1,800 1,075 Computer hardware and software1,010 869 Construction in progress1,081 3,578 Total property and equipment40,253 38,001 Less: Accumulated depreciation(15,297)(13,597)Total property and equipment, net$24,956 $24,404 Depreciation expense related to property and equipment is as follows:Three Months Ended March 31,(in thousands)20252024Depreciation Expense$1