Prime Medicine

Prime Medicine reported Q2 2026 results as a pre-revenue biotech advancing gene-editing therapies. The company generated $1.2 million in collaboration revenue, down slightly from $1.1 million in Q2 2025. Net loss narrowed to $42.1 million from $52.6 million year-over-year, driven by lower R&D and G&A expenses following a May 2025 workforce reduction. Cash, equivalents, and investments stood at $95.1 million on June 30, 2026, down from $177.7 million at year-end 2025, providing runway into 2027. Operationally, the company achieved major milestones: FDA cleared an IND and New Zealand approved a CTA for PM577a (Wilson disease), establishing a global Phase 1/2 program with study startup underway and initial data expected in 2027. An arbitration with Beam Therapeutics affirmed Prime's rights to PM647 (Alpha-1 Antitrypsin Deficiency), with IND/CTA submission planned for Q3 2026. The FDA granted RMAT designation to PM359 (chronic granulomatous disease), accelerating the path toward a BLA submission targeted for H1 2027.