Prime Medicine Reports Third Quarter 2026 Financial Results and Provides Business Updates
Key Highlights
- ➤$143.7 million raised in November offering; net proceeds totaled approximately $134.7 million
- ➤PM577a first patient dosed in global Phase 1/2 Wilson disease trial; data expected 2027
- ➤FDA cleared PM647 IND for Alpha-1 Antitrypsin Deficiency; initial data expected 2027
- ➤PM359 BLA submission planned for the first half of 2027
- ➤Third-quarter net loss narrowed to $39.0 million from $50.6 million year over year
Expert Statements
Allan Reine, Chief Executive Officer of Prime Medicine
“Prime Medicine continued to make significant progress this quarter, highlighted by dosing the first patient in our Phase 1/2 trial of PM577a for Wilson disease, our first clinical study of an in vivo Prime Editing therapy”
Allan Reine, Chief Executive Officer of Prime Medicine
“Having demonstrated through our CGD program that Prime Editing can correct disease-causing mutations in humans ex vivo, we are now extending that experience in vivo, beginning with our liver directed programs.”
Allan Reine, Chief Executive Officer of Prime Medicine
“Furthermore, the FDA clearance of our IND for PM647 in Alpha-1 Antitrypsin Deficiency further underscores the versatility of our universal liver LNP platform.”
Allan Reine, Chief Executive Officer of Prime Medicine
“In just months, our two wholly owned liver programs have moved into, or been cleared for, clinical development, underscoring both the productivity of our platform and our ability to translate scientific innovation into clinical programs.”
Allan Reine, Chief Executive Officer of Prime Medicine
“We view Wilson disease and AATD as the foundation of a liver franchise built on a shared technology platform and development strategy.”
Allan Reine, Chief Executive Officer of Prime Medicine
“Our recent financing strengthens our balance sheet and provides additional resources needed to advance these programs through key clinical milestones.”
Allan Reine, Chief Executive Officer of Prime Medicine
“Looking ahead, we expect 2027 to be a meaningful year for the patient communities we hope to treat, with initial clinical data anticipated from both PM577a and PM647 and a planned BLA submission for PM359.”
-- First patient dosed in global Phase 1/2 clinical trial of PM577a in Wilson disease, the first clinical study of an in vivo Prime Editing therapy from Prime Medicine; initial clinical data expected in 2027 --
-- Received FDA clearance of Investigational New Drug application for PM647 in Alpha-1 Antitrypsin Deficiency; initial clinical data expected in 2027 --
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