Prime Medicine, Inc. reported its financial results for the second quarter ended June 30, 2025, alongside significant business updates. The company reported collaboration revenue of $1.115 million for the quarter, a decrease from $2.569 million in the same period of 2024. The net loss for the second quarter was $(52.591) million, and for the six months ended June 30, 2025, the total revenue was $1.706 million with a net loss of $(104.481) million.
Operating expenses reflected the strategic restructuring, with R&D expenses decreasing by $1.7 million for the quarter due to the deprioritization of CGD programs and reduced personnel, partially offset by increased facility and intellectual property costs. General and administrative expenses increased by $0.5 million, driven by higher corporate legal expenses and one-time severance payments related to the workforce reduction.
Crucially, the company announced that its pro-forma cash, cash equivalents, and investments of $259.6 million as of June 30, 2025, which includes $138.2 million in net proceeds from its recent public offering and $6.0 million from the Cystic Fibrosis Foundation, are expected to fund operations into 2027. This extended cash runway provides vital capital to advance its prioritized pipeline programs, including Wilson’s Disease and Alpha-1 Antitrypsin Deficiency, towards anticipated clinical data in 2027.
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