Prime Medicine 2025 Q3 Earnings Slight Reduction in Net Loss Amid Revenue Surge

Prime Medicine (PRME) reported a 486.1% revenue increase to $1.23 million in Q3 2025, yet sustained a $50.58 million net loss.

The results narrowly improved from 2024 Q3, with losses reduced by 3.7%. Management confirmed a cash runway into 2027, aligning with its strategic focus on advancing liver-targeted therapies and regulatory milestones.

Prime Medicine (PRME) reported a 486.1% revenue increase to $1.23 million in Q3 2025, yet sustained a $50.58 million net loss. The results narrowly improved from 2024 Q3, with losses reduced by 3.7%. Management confirmed a cash runway into 2027, aligning with its strategic focus on advancing liver-targeted therapies and regulatory milestones.

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Revenue

The company’s total revenue surged to $1.23 million in Q3 2025, a 486.1% increase from $209,000 in Q3 2024. This growth was driven by collaboration revenue and advancements in its liver-targeted programs, including Wilson’s Disease (WD) and Alpha-1 Antitrypsin Deficiency (AATD).

Earnings/Net Income

Prime Medicine narrowed its net loss to $50.58 million in Q3 2025, a 3.7% reduction from $52.52 million in Q3 2024. Earnings per share (EPS) improved to -$0.32 from -$0.44, reflecting operational efficiency gains. Despite these improvements, the company remains unprofitable, with sustained losses for three consecutive years. The EPS and net loss reductions indicate progress, but profitability remains a distant target.

Price Action

The stock price of Prime Medicine declined 4.75% during the latest trading day, 22.87% over the past week, and 40.93% month-to-date. This downward trend underscores investor skepticism despite the revenue surge and reduced losses.

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Post-Earnings Price Action Review

The strategy of buying Prime Medicine (PRME) shares on the date of its revenue raise and holding for 30 days shows poor performance over the past three years. The annualized return is -46.8%, indicating significant losses during this period. This suggests that this strategy failed to capitalize on the positive revenue raise, likely due to broader market conditions or company-specific factors not reflected in the financial reports.

CEO Commentary

Allan Reine, CEO, emphasized progress in advancing liver-targeted programs, including the nomination of PM647 for AATD and preclinical data for WD. He highlighted strategic priorities such as regulatory filings for IND/CTA in 2026-2027 and partnerships with Bristol Myers Squibb and the Cystic Fibrosis Foundation. The leadership outlook remains cautious but optimistic, with a focus on translating preclinical success into clinical milestones.

Guidance

Prime Medicine expects to file IND/CTA for its WD program in H1 2027 and for AATD in mid-2026. Initial clinical data for both programs is anticipated in 2027. Management reiterated that cash, cash equivalents, and investments of $213.3 million as of September 30, 2025, will fund operations into 2027.

Additional News

1. Leadership Expansion: Matthew Hawryluk joined as Chief Business Officer, bringing expertise in strategic collaborations.

2. Preclinical Milestone: New PM577 data for WD will be presented at AASLD on November 9, 2025.

3. Virtual KOL Event: A Wilson’s Disease strategy webcast is scheduled for November 12, 2025, to engage key opinion leaders.

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Article Polishing

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