10-K · March 3, 2026
Prime Medicine positions itself as a platform company advancing Prime Editing for durable, potentially curative genetic medicines with an initial focus on liver-directed in vivo programs (Wilson disease, AATD), CF, and…
Earnings analysis · 10-Q
PRME earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Prime Medicine reported Q1 2026 financial results with revenue of $856,000, down 41.3% year-over-year. The net loss narrowed slightly to $49.1 million compared to $51.9 million in the previous year. The company holds…
Read full summary
Prime Medicine reported Q1 2026 financial results with revenue of $856,000, down 41.3% year-over-year. The net loss narrowed slightly to $49.1 million compared to $51.9 million in the previous year. The company holds cash reserves of $149.2 million, adequate to continue operations into 2027.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.28
What stood out
-
Revenue Decline
Revenue decreased to $856,000 from $1.454 million year-over-year, a 41.3% drop.
-
Narrowed Net Loss
Q1 2026 net loss was $49.1 million, down from $51.9 million in Q1 2025.
-
Improved Cash Position
Cash and equivalents at $64.1 million, with total liquidity including investments at $149.2 million.
-
R&D Expense Reduction
R&D expenses were $34.1 million, down from $40.6 million in Q1 2025, a decrease of $6.5 million.
-
Other Income Improvement
Other income increased to $1.532 million from $502,000 year-over-year, indicating efficient investment returns.
-
Stock Compensation
Stock-based compensation decreased slightly to $4.644 million from $5.681 million year-over-year.
What to watch
-
Continued Operating Losses
Accumulated deficit reached $937.5 million as of March 31, 2026, indicating ongoing financial stress.
-
Dependency on Future Financing
Management indicated reliance on future funding to continue operations, with no guarantees of capital availability.
-
Regulatory Approval Uncertainty
The ability to generate revenue is significantly dependent on successful regulatory approvals which are still uncertain.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 7, 2025
Prime Medicine reported a significant decline in revenue for Q2 2025, with total revenue dropping to $1.115 million, down from $2 million in Q1 2025 and markedly below estimates. This quarter also saw a net loss per…
10-Q · May 8, 2025
Prime Medicine reported Q1 2025 revenue of $1.454M (all collaboration-related) vs $0.591M in Q1 2024, while operating loss widened to $52.392M and net loss was $51.890M (‑$0.40 per share). Cash, cash equivalents and…
10-Q · May 11, 2023
Prime Medicine reported a net loss of $39.4 million ($0.44 per share) for Q1 ended March 31, 2023, with R&D spending ramping to $30.9 million and total operating expenses of $40.0 million. The company holds $249.5…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.