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Prime Medicine Announces Closing of Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares
Globenewswire· 2025-08-01 20:01
Group 1 - Prime Medicine, Inc. closed its underwritten public offering of 43,700,000 shares of common stock at a price of $3.30 per share, raising approximately $144.2 million in gross proceeds before expenses [1] - The offering included the full exercise of the underwriters' option to purchase an additional 5,700,000 shares, with no discounts or commissions for 1,818,181 shares sold to the Cystic Fibrosis Foundation [1] - TD Cowen and BMO Capital Markets served as joint book-running managers for the offering [2] Group 2 - The shares were offered under an effective shelf registration statement filed with the SEC on November 3, 2023, and declared effective on November 13, 2023 [3] - A final prospectus supplement detailing the terms of the offering was filed with the SEC and is available on their website [3] Group 3 - Prime Medicine is focused on developing a new class of one-time curative genetic therapies using its proprietary Prime Editing platform, which aims for precise and efficient gene editing [6] - The company is advancing a diversified portfolio of investigational therapeutic programs in core areas such as liver, lung, immunology, and oncology, targeting diseases with well-understood biology [7]
Prime Medicine Announces Pricing of Public Offering
Globenewswire· 2025-07-31 01:33
Core Points - Prime Medicine, Inc. announced a public offering of 38,000,000 shares at a price of $3.30 per share, aiming to raise approximately $125.4 million in gross proceeds before expenses [1] - The offering includes a 30-day option for underwriters to purchase an additional 5,700,000 shares [1] - The offering is expected to close around August 1, 2025, pending customary closing conditions [1] Company Overview - Prime Medicine is a biotechnology company focused on developing one-time curative genetic therapies using its proprietary Prime Editing platform, which allows for precise gene editing [6] - The company is advancing a portfolio of investigational therapeutic programs in core areas such as liver, lung, immunology, and oncology, targeting diseases with well-understood biology [7] Offering Details - The shares are being offered under an effective shelf registration statement filed with the SEC on November 3, 2023, and declared effective on November 13, 2023 [3] - The final prospectus supplement will be filed with the SEC and will be available through designated contacts [4]
Prime Drink Group Extends Expiry Date of Its Rights Offering and Announces Delay in Filing Annual Financial Statements
Globenewswire· 2025-07-31 00:59
Core Points - Prime Drink Group Corp. has extended the expiry date of its rights offering to August 29, 2025, while all other terms remain unchanged [1][2] - The rights offering includes a maximum of 353,409,888 rights, allowing shareholders to subscribe for shares at a price of $0.0825 each [2] - The company has experienced a delay in filing its audited annual financial statements for the year ended March 31, 2025, due to a change in auditors [4][5] - A management cease trade order has been imposed on the CEO and CFO until the annual financial filings are submitted [6] - The company plans to issue default status reports every two weeks until the annual financial filings are completed [7] - Prime Drink Group is focused on becoming a leading diversified holding company in the beverage, influencer media, and hospitality sectors [8]
Prime Medicine Announces Proposed Public Offering of Common Stock
GlobeNewswire· 2025-07-30 20:01
Core Viewpoint - Prime Medicine, Inc. has initiated an underwritten public offering of its common stock, with plans to grant underwriters a 30-day option to purchase an additional 15% of the shares offered [1] Company Overview - Prime Medicine is a biotechnology company focused on developing a new class of one-time curative genetic therapies using its proprietary Prime Editing platform, which aims to provide precise and efficient gene editing [6] - The company is advancing a diversified portfolio of investigational therapeutic programs in core areas such as liver, lung, immunology, and oncology, targeting diseases with well-understood biology and clear clinical development paths [7] Offering Details - The shares are being offered under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on November 3, 2023, and declared effective on November 13, 2023 [3] - The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC [5]
Prime Medicine, Inc. (PRME) Now Trades Above Golden Cross: Time to Buy?
ZACKS· 2025-07-30 14:55
Group 1 - Prime Medicine, Inc. (PRME) has reached an important support level and recently experienced a "golden cross" event, indicating a potential bullish breakout [1][4] - A golden cross occurs when a security's short-term moving average (50-day) crosses above its long-term moving average (200-day), suggesting stronger breakouts [2] - The golden cross pattern consists of three stages: a downtrend followed by a crossover and then an upward price movement [3] Group 2 - PRME has rallied 40.3% over the past four weeks and currently holds a 2 (Buy) rating on the Zacks Rank, indicating potential for further gains [4] - The positive earnings outlook for PRME is supported by no earnings estimate cuts and one revision higher in the past 60 days, with the Zacks Consensus Estimate also increasing [4][5] - The combination of earnings estimate revisions and technical indicators suggests that investors should monitor PRME for potential gains in the near future [5]
Prime Medicine Announces Additional Funding of Up to $24 Million from the Cystic Fibrosis Foundation to Advance Prime Editing Treatments for Cystic Fibrosis
Globenewswire· 2025-07-16 11:00
Core Insights - Prime Medicine has secured up to $24 million in additional funding from the Cystic Fibrosis Foundation to accelerate the development of Prime Editors for cystic fibrosis (CF) [1][2][3] - The funding aims to enhance Prime Editing technology, which has the potential to correct a wide range of genetic mutations affecting over 93% of individuals with CF [1][2] - The initial focus will be on the G542X mutation, a prevalent CF-causing mutation with no current therapies available [2] Company Overview - Prime Medicine is a biotechnology company dedicated to developing one-time curative genetic therapies using its proprietary Prime Editing platform, which allows precise and efficient gene editing [5][6] - The company is advancing a diversified portfolio of therapeutic programs targeting liver, lung, immunology, and oncology diseases [6][7] - Prime Editing technology is designed to minimize unwanted DNA modifications while effectively repairing various genetic mutations across different tissues and organs [5] Funding Details - The CF Foundation's investment builds on an earlier agreement from January 2024 and will be provided in two tranches, with the first tranche including a $6 million equity investment [2][3] - The funding is contingent upon meeting certain scientific milestones and closing conditions [3] Disease Context - Cystic fibrosis is a serious genetic disease caused by mutations in the CFTR gene, affecting approximately 100,000 people globally, including over 40,000 in the United States [4] - Current disease-modifying therapies are not curative and may be ineffective for certain mutations, highlighting the need for innovative treatments [4]
Prime Medicine: Pressing Forward With Lead Liver Targeting Indications
Seeking Alpha· 2025-07-07 20:45
Core Insights - Prime Medicine, Inc. (NASDAQ: PRME) has released positive data regarding its Prime Editing technology therapy PM359, which was used to treat a patient with Chronic Granulomatous Disease (CGD) [2] Company Overview - Prime Medicine specializes in innovative gene editing technologies, particularly focusing on Prime Editing, which has shown promise in treating genetic disorders [2] Treatment Details - The therapy PM359 was administered to a patient suffering from CGD, and the results indicate a successful application of the technology [2]
Prime Drink Group Announces Change of Auditor
Globenewswire· 2025-07-05 00:30
Core Points - Prime Drink Group Corp. has changed its auditors from MNP LLP to Horizon Assurance LLP [1] - The Former Auditor resigned on June 25, 2025, and the Successor Auditor was appointed effective June 30, 2025 [1] - There were no reservations in the Former Auditor's audit reports for the relevant period [2] - The Company filed a Change of Auditor Notice on July 3, 2025, in compliance with National Instrument 51-102 [2] - Both auditors confirmed agreement with the statements in the respective Notices [2] Company Information - The appointment of the Successor Auditor will remain effective until the next Annual General Meeting of the Company [1] - There were no reportable events between the Former Auditor and the Company as defined in NI 51-102 [2]
Prime Medicine (PRME) Earnings Call Presentation
2025-07-03 15:05
Pipeline and Programs - Prime Medicine expects to file IND and/or CTA for Wilson's Disease program (PM577) in the first half of 2026 and announce initial clinical data in 2027[10] - Prime Medicine anticipates filing IND and/or CTA for AATD program in mid-2026 and expects initial clinical data in 2027[10] - Prime Medicine will share in vivo proof-of-concept data in CF and initiate IND-enabling studies[10] Technology and Safety - Prime Editing is designed to edit, correct, insert, and delete DNA sequences in any target tissue[12] - Prime Editing has a highly differentiated safety profile with no off-target activity detected in any lead program, including no detectable double-strand breakage, off-target edits, bystander edits, or large deletions/translocations[14, 15, 16, 17, 25] Partnerships and Financials - Prime Medicine entered into a strategic research collaboration and license agreement with Bristol Myers Squibb (BMS) to develop and commercialize multiple ex vivo T cell products in immunology and oncology, receiving $110 million upfront and potentially over $3.5 billion in milestones plus royalties[34, 85] - Prime Medicine entered into an agreement with the CF Foundation for up to $15 million to support the development of Prime Editors for Cystic Fibrosis[33, 77] - Prime Medicine held cash equivalents, investments, and restricted cash of $158.3 million as of March 31, 2025, providing a cash runway into the first half of 2026[98] Liver Programs - In Wilson's Disease, Prime Editors efficiently correct the two most prevalent disease-causing mutations, H1069Q and R778L, reducing liver copper by approximately 75%, decreasing urinary copper by about 80%, and increasing fecal copper by around 100% in vivo[52, 56] - In AATD, Prime Editor efficiently corrects the mutation resulting in M-AAT protein restoration in vivo, with the potential to correct mutated protein back to wild type without bystander or off-target edits[69, 71] - Prime Medicine achieved >70% hepatocyte editing using Prime Editors delivered with universal liver LNPs in humanized mice[37]
Prime Drink Group Announces Launch of Rights Offering
Globenewswire· 2025-06-18 22:20
Core Viewpoint - Prime Drink Group Corp. is initiating a rights offering to raise a minimum of $3 million, aimed at recapitalizing the company and facilitating the acquisition of Triani Canada Inc. from receivership [1][2][4]. Group 1: Rights Offering Details - The company will offer a maximum of 353,409,888 rights to existing shareholders, with each right allowing the purchase of one share at a price of $0.0825 [1][3]. - The rights offering is expected to result in a total of 706,819,776 shares outstanding if all rights are exercised, with the new shares representing 50% of the total [3]. - The rights will expire on July 25, 2025, at 4:00 p.m. Eastern time, after which unexercised rights will be void [5]. Group 2: Use of Proceeds - Proceeds from the rights offering are intended for re-acquiring Triani and for general working capital, corporate purposes, and administrative expenses [10]. - The company aims to participate in the process of re-acquiring Triani, which is currently in receivership due to creditor actions [4]. Group 3: Shareholder Participation - The rights will only be offered to shareholders residing in Canada, and registered shareholders must submit their subscription forms to the rights agent by the expiry time [6][7]. - Directors and senior officers of the company are expected to exercise a portion of their rights, although the exact number cannot be determined at this time [10].