Prime Medicine, Inc.
PRME evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for PRME—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · PRME
Prime Medicine, Inc. (PRME) is a biotechnology company focused on developing in vivo prime editing therapies for genetic diseases, with lead programs in Wilson's Disease and Alpha-1 Antitrypsin Deficiency (AATD), and a partnership with Bristol Myers Squibb for prime-edited CAR-T products.
Key risk: No revenue and high cash burn
BioSniper Score
Based on 5 of 6 signals
Market Cap
$654.8M
Cash Runway
7.8 moLead Asset
pm359 (Phase 1/Phase 2)
Next Catalyst
Phase3_Topline · Jun 1, 2027Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 4 clinical trials · 1 catalyst for Prime Medicine, Inc..
Prime Medicine, Inc. (PRME) is a biotechnology company focused on developing in vivo prime editing therapies for genetic diseases, with lead programs in Wilson's Disease and Alpha-1 Antitrypsin Deficiency (AATD), and a partnership with Bristol Myers Squibb for prime-edited CAR-T products.
- Lead programs are in late preclinical stages for Wilson's Disease and AATD, with IND/CTA filings expected in the first half of 2026 for Wilson's Disease and mid-2026 for AATD [sec · filed 2025-05-19].
- Initial clinical data from both Wilson's Disease and AATD programs are expected in 2027 [sec · filed 2025-05-19].
- Cash and equivalents were $61.1M as of 2026-06-30, with a net loss of $42.1M for the period [sec].
- The company is also advancing an in vivo Cystic Fibrosis program with support from the Cystic Fibrosis Foundation and prime-edited CAR-T programs in partnership with Bristol Myers Squibb [sec_mda · as of 2026-05-07].
- Management believes existing cash will fund operations into 2027, but expects to need additional capital to continue development activities [sec_mda · as of 2026-05-07].
What works
- Prime Medicine's modular prime editing platform and universal liver lipid nanoparticle may enable efficient development of multiple in vivo programs [sec_mda · as of 2026-05-07].
- The company has secured a partnership with Bristol Myers Squibb for prime-edited CAR-T products, providing external validation and resources [sec_mda · as of 2026-05-07].
- Support from the Cystic Fibrosis Foundation for the in vivo Cystic Fibrosis program indicates external interest and non-dilutive funding [sec_mda · as of 2026-05-07].
What to weigh
- Prime Medicine has not generated any revenue from product sales and does not expect to do so until successful development and commercialization, which is uncertain [sec_mda · as of 2026-08-06].
- The company expects expenses to increase substantially as it advances preclinical activities and initiates clinical trials, requiring additional funding [sec_mda · as of 2026-08-06].
- Cash runway is only estimated into 2027, and the company may exhaust resources sooner than expected if assumptions prove wrong [sec_mda · as of 2026-05-07].
From the filings
Quoted directly from source documents.
Lead programs are in late preclinical stages with expected IND/CTA filings in 2026.
“Both programs are currently in late stages of pre-clinical development and are on track for IND and/or Clinical Trial Application filings in the first half of 2026 for Wilson Disease and the middle of 2026 for AATD.”
SEC MD&A · May 7, 2026
Initial clinical data from both programs are expected in 2027.
“initial clinical data from both programs are expected in 2027.”
SEC filings · May 19, 2025
The company has not generated any revenue from product sales.
“To date, we have not generated any revenue from product sales.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2027-06-01 · Phase3_Topline — Phase 3 Topline: A Multicentre, Open-label Trial in Healthy Volunteers to Assess the Boostability of Three Different — Topline data from a Phase 3 trial in healthy volunteers expected; details of the specific program are not provided in the chunks.
Risks & what to watch (3)›
Key risks
- No revenue and high cash burn — No product revenue; net loss of $42.1M in Q2 2026; cash of $61.1M may only fund into 2027 [sec].
- Preclinical stage uncertainty — Lead programs are still preclinical; IND/CTA filings and clinical data are years away from potential approval [sec_mda · as of 2026-05-07].
- Dependence on partnerships — Key programs rely on partnerships (BMS, CFF) and business development; failure to maintain could derail pipeline [sec_mda · as of 2026-05-07].
What to watch
- IND/CTA filings for Wilson's Disease (expected H1 2026) and AATD (expected mid-2026) [sec · filed 2025-05-19].
- Initial clinical data from both Wilson's Disease and AATD programs, expected in 2027 [sec · filed 2025-05-19].
- Updates on the partnership with Bristol Myers Squibb for prime-edited CAR-T products [sec_mda · as of 2026-05-07].
- Cash runway and any additional financing or partnership announcements [sec_mda · as of 2026-05-07].
Sources: SEC filings · SEC MD&A · Generated August 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
7.8 months
D/E 5.26 · 0% dilution
Lead: Phase 1/Phase 2
3 candidates
1 upcoming, next in ~275d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
187
Total value held
$258.3M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 8,948,324 | $31.1M |
| blackrock, inc. | 8,501,708 | $29.6M |
| state street corp | 6,345,125 | $22.1M |
| ark investment management llc | 6,246,827 | $21.7M |
| balyasny asset management l.p. | 4,123,365 | $14.3M |
| sumitomo mitsui trust group, inc. | 2,940,793 | $10.2M |
| amova asset management americas, inc. | 2,940,793 | $10.2M |
| ubs group ag | 2,888,418 | $10.1M |
| geode capital management, llc | 2,743,700 | $9.6M |
| adar1 capital management, llc | 1,973,282 | $6.9M |
Showing top 10 of 187 institutional holders of Prime Medicine, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 21.5%
- Days to cover
- 16.4
- Shares short
- 30,352,640
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
PRME short interestGovernance
Frequently asked questions
What is the AI investment thesis for Prime Medicine, Inc.?
Prime Medicine, Inc. (PRME) is a biotechnology company focused on developing in vivo prime editing therapies for genetic diseases, with lead programs in Wilson's Disease and Alpha-1 Antitrypsin Deficiency (AATD), and a partnership with Bristol Myers Squibb for prime-edited CAR-T products.
What is Prime Medicine, Inc.'s lead drug candidate?
Prime Medicine, Inc.'s most advanced tracked candidate is pm359 (Phase 1/Phase 2) for Chronic Granulomatous Disease.
What is Prime Medicine, Inc.'s next catalyst?
Prime Medicine, Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Multicentre, Open-label Trial in Healthy Volunteers to Assess the Boostability of Three Different " — expected June 1, 2027.
Who is the CEO of Prime Medicine, Inc.?
Dr. Allan Reine M.D. is the chief executive officer of Prime Medicine, Inc. (PRME).
Where is Prime Medicine, Inc. headquartered?
Prime Medicine, Inc. (PRME) is headquartered in Cambridge, MA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.