NASDAQ$PRME
Prime Medicine Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported third quarter financial results and provided business updates.
Prime Medicine reported a net loss of $50.7 million for the third quarter ended September 30, 2023. The company's cash, cash equivalents, investments and restricted cash were $178.8 million as of September 30, 2023, which is expected to fund operating expenses and capital expenditure requirements through the end of 2024.
- Presented new preclinical research across multiple programs, including proof-of-concept data from in vivo rodent and large animal studies, as well as updates on proprietary delivery systems.
- Shared detailed safety evaluation of lead Prime Editors across multiple programs; preliminary off-target analyses did not identify off-target editing, supporting potential best-in-class safety profile.
- Received U.S. FDA Rare Pediatric Drug designation for PM359 for CGD; initiated IND-enabling studies and remain on track to file IND application in 2024.
- Further extended intellectual property portfolio; U.S. PTO issued Prime Medicine’s third patent, No. 11,795,452.
Headline financials
Revenue & EPS history
Prime Medicine · Revenue · Quarterly
$0
Forward guidance
Prime Medicine expects that its cash, cash equivalents and investments as of September 30, 2023, will be sufficient to fund its operating expenses and capital expenditure requirements through the end of 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 14 quarterly earnings reports · overlaid with Q3 2023
-1.7%
Avg return
Earnings day
-7.2%
Avg return
5 days after
-10.8%
Avg return
30 days after
29%
5 / 17 earnings
Positive
+26.6%
Q1 2025
Best reaction
-9.8%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -8.2% | -13.9% | -28.8% | |
| Q3 2025 | -9.1% | -15.1% | -10.5% | |
| Q1 2025 | +26.6% | -7.5% | +15.9% | |
| Q4 2024 | +4.1% | -4.5% | -17.8% | |
| Q3 2024 | -9.8% | -23.8% | -31.4% | |
| Q2 2024 | -4.5% | -2.5% | -19.3% | |
| Q1 2024 | +12.2% | +18.2% | +14.9% | |
| Q4 2023 | +1.6% | -2.4% | -18.9% | |
| Q3 2023 | +17.0% | +13.1% | +21.6% | |
| Q2 2023 | -7.5% | -14.9% | -13.3% | |
| Q1 2022 | -9.4% | -10.5% | +3.2% | |
| Q1 2023 | -9.4% | -10.5% | +3.2% | |
| Q4 2020 | -9.7% | -11.7% | -21.9% | |
| Q4 2022 | -9.7% | -11.7% | -21.9% | |
| Q3 2022 | -4.4% | -8.1% | -19.4% | |
| Q3 2021 | -4.4% | -8.1% | -19.4% | |
| Q4 2021 | -4.4% | -8.1% | -19.4% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2019 | — | — | — |
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