Prime Medicine, Inc., a biotechnology company, engages in delivering genetic medicines to address the spectrum of diseases by deploying gene editing technology in the United States. Its lead therapeutic product candidate is PM359 for Chronic Granulomatous Disease, which is in Phase 1/2 clinical trial; PM577 for Wilson Disease, that is in preclinical studies; and PM647 to treat genetic disorder caused by mutations in the SERPINA1 gene, resulting in production of misfolded Z-AAT protein that accumulates in the liver and leads to hepatocellular injury, cirrhosis, and increased risk of hepatocellular carcinoma. The company also provides vivo programs targeting diseases of the liver, and Cystic Fibrosis programs. In addition, it offers Prime Editing technology comprising a programmable DNA binding domains, such as Cas domains, are typically modified such that they do not cause a double-stranded break in the DNA, as well as a RT domain that copies the edited DNA sequence directly into the target genomic site where the edit is made; and pegRNA which contains a search sequence, also known as a spacer, which provides a target genomic address for the Prime Editor. The company has a research collaboration and license agreement with BMS; Cystic Fibrosis Foundation; Broad Institute; and Beam. Prime Medicine, Inc. was incorporated in 2019 and is headquartered in Cambridge, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5M | $-201M | $-201M | $-167M | -166.4% | 55.3% | - |
| 2024 | $3M | $-196M | $-196M | $-130M | -127.9% | - | - |
| 2023 | $0M | $-187M | $-198M | $-174M | -148.9% | - | - |
| 2022 | $0M | $-114M | $-122M | $-148M | -38.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 2.98 | 4.63 |
| Operating Expense | 116.54 | 191.29 | 205.45 | 212.98 |
| Operating Income | -116.54 | -191.29 | -202.47 | -208.35 |
| EBITDA | -114.32 | -186.64 | -196.34 | -201.03 |
| EBIT | -116.54 | -191.29 | -202.47 | -208.35 |
| Pretax Income | -122.77 | -198.41 | -195.88 | -201.14 |
| Tax Provision | -0.95 | -0.28 | 0 | 0 |
| Net Income | -121.82 | -198.13 | -195.88 | -201.14 |
| Net Income Common Stockholders | -142.01 | -198.13 | -195.88 | -201.14 |
| Total Expenses | 116.54 | 191.29 | 205.45 | 212.98 |
| Interest Income | 0 | 2.81 | 3.52 | 4.15 |
| Research And Development | 86.72 | 147.91 | 155.29 | 160.64 |
| Selling General And Administration | 29.82 | 43.39 | 50.16 | 52.35 |
| Normalized EBITDA | -106.19 | -170.76 | -195.85 | -201.46 |
| Normalized Income | -113.75 | -182.27 | -195.40 | -201.57 |
| Basic EPS | -4.19 | -2.18 | -1.65 | -1.35 |
| Diluted EPS | -4.19 | -2.18 | -1.65 | -1.35 |
| Tax Effect Of Unusual Items | -0.06 | -0.02 | 0 | 0 |
| Tax Rate For Calcs | 0.01 | 0 | 0 | 0 |
| Total Unusual Items | -8.13 | -15.88 | -0.48 | 0.43 |
| Total Unusual Items Excluding Goodwill | -8.13 | -15.88 | -0.48 | 0.43 |
| Net Income From Continuing Operation Net Minority Interest | -121.82 | -198.13 | -195.88 | -201.14 |
| Reconciled Depreciation | 2.22 | 4.65 | 6.13 | 7.32 |
| Net Interest Income | 0 | 2.81 | 3.52 | 4.15 |
| Net Income From Continuing And Discontinued Operation | -121.82 | -198.13 | -195.88 | -201.14 |
| Total Operating Income As Reported | -116.54 | -204.79 | -202.47 | -208.35 |
| Diluted Average Shares | 33.89 | 90.97 | 118.60 | 148.76 |
| Basic Average Shares | 33.89 | 90.97 | 118.60 | 148.76 |
| Diluted NI Availto Com Stockholders | -142.01 | -198.13 | -195.88 | -201.14 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Preferred Stock Dividends | 20.19 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -121.82 | -198.13 | -195.88 | -201.14 |
| Net Income Continuous Operations | -121.82 | -198.13 | -195.88 | -201.14 |
| Other Income Expense | -6.22 | -9.93 | 3.06 | 3.06 |
| Other Non Operating Income Expenses | 1.90 | 0.27 | 0.04 | 0.15 |
| Special Income Charges | 0 | -13.50 | 0 | 0 |
| Other Special Charges | 0 | 13.50 | 0 | 0 |
| Securities Amortization | 0 | -5.68 | -3.51 | -2.48 |
| Gain On Sale Of Security | -8.13 | -2.38 | -0.48 | 0.43 |
| Net Non Operating Interest Income Expense | 0 | 2.81 | 3.52 | 4.15 |
| Interest Income Non Operating | 0 | 2.81 | 3.52 | 4.15 |
| General And Administrative Expense | 29.82 | 43.39 | 50.16 | 52.35 |
| Other Gand A | 18.73 | 26.31 | 23.59 | 29.32 |
| Salaries And Wages | 11.09 | 17.08 | 26.57 | 23.03 |
| Operating Revenue | 0 | 0 | 2.98 | 4.63 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Prime Medicine, Inc.this co. | PRME | $638M | - | 5.17 | -166.4% | -2.81 |
| Ironwood Pharmaceuticals, Inc. | IRWD | $683M | 27.67 | -2.58 | -9.2% | 8.78 |
| Bioventus Inc. | BVS | $654M | 29.30 | 3.52 | 10.0% | 12.31 |
| Eton Pharmaceuticals, Inc. | ETON | $645M | - | 24.38 | -17.6% | 73.07 |
| HealthStream, Inc. | HSTM | $641M | 34.05 |
| 1.76 |
| 5.2% |
| 9.46 |
| Arvinas, Inc. | ARVN | $628M | - | 1.44 | -18.6% | 0.43 |
| Aclaris Therapeutics, Inc. | ACRS | $624M | - | 5.23 | -63.0% | -6.08 |
| CorMedix Inc. | CRMD | $591M | 3.67 | 1.46 | 40.2% | 3.38 |
| Prothena Corporation plc | PRTA | $585M | - | 2.09 | -87.0% | -1.56 |
| Peer Median | - | 28.48 | 1.93 | -13.4% | 6.08 | |