prime medicine(US:PRME)2025-05-08 12:05Financial Performance - Prime Medicine reported a net loss of $51.9 million for Q1 2025, compared to a net loss of $45.8 million in Q1 2024, reflecting an increase of approximately 13% year-over-year[10]. - Total revenue for Q1 2025 was $1.454 million, a significant increase from $591,000 in Q1 2024[10]. - As of March 31, 2025, Prime Medicine had cash, cash equivalents, and investments totaling $158.3 million, down from $204.5 million as of December 31, 2024[10]. - Prime Medicine's total assets increased to $328.2 million as of March 31, 2025, compared to $297.5 million as of December 31, 2024[16]. Expenses - Research and Development (R&D) expenses increased to $40.6 million in Q1 2025 from $37.8 million in Q1 2024, primarily due to the expansion of laboratory space[10]. - General and Administrative (G&A) expenses rose to $13.3 million in Q1 2025, up from $11.2 million in Q1 2024, driven by higher personnel costs[10]. Clinical Development - The company anticipates initial clinical data from the Phase 1/2 trial of PM359 for p47 CGD to be announced in 2025, which will include safety and engraftment data[5]. - Prime Medicine is on track to file IND and/or CTA for PM577 for Wilson's Disease in the first half of 2026[1]. - The company aims to initiate clinical trials for its AATD program in mid-2026, following the recent unveiling of its preclinical program[2]. - Initial in vivo data for the AATD program showed full restoration of circulating wild-type AAT protein to normal human range[4].