PRME earnings analysis
What we found in PRME's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.28
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing PRME makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever