Prime Medicine reported Q1 2026 financial results with reduced R&D expenses, net loss of $49.1 million, and $149.2 million in cash providing runway into 2027, alongside pipeline progress and CFO appointment.
Key takeaways
Net loss $49.1 million for Q1 2026 vs $51.9 million Q1 2025, driven by lower R&D expenses.
R&D expenses $34.1 million, down from $40.6 million due to CGD deprioritization and workforce reduction.
Cash position $149.2 million as of March 31, 2026, sufficient into 2027.
On track for IND/CTA filings: PM577 in Wilson Disease H1 2026, PM647 in AATD mid-2026; data in 2027.
Appointed Svetlana Makhni as CFO in April 2026 with 20+ years biotech experience.
Progressing toward BLA for PM359 in CGD following positive Phase 1/2 data.