Prime Medicine, Inc.
PRMEHealthcare|Biotechnology|US
$4.65
+0.20 (+4.49%)
Tangible Book / Share
$0.22
Cash / Share
$0.54
Financials
Financial Snapshot
Market Cap
$843.4M
Enterprise Value
$908.4M
Revenue (TTM)
$4.1M
Net Income (TTM)
-$187.9M
Cash & Investments
$95.1M
Net Cash
-$17.4M
Free Cash Flow (TTM)
-$156.8M
Operating CF (TTM)
-$156.1M
Debt/Equity
2.83
Cash Runway & Burn Rate
Cash on Hand
$95.1M
Quarterly Burn
$39.0M
Monthly Burn
$13.0M
Est. Runway
~2.4 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $8.6M | $53.3M | $269.6M | $293.9M | $121.7M | $190.4M | $177.7M | $95.1M | |
| Operating Cash Flow | -$1.3M | -$5.5M | -$34.1M | -$131.8M | -$165.4M | -$122.9M | -$162.6M | -$156.1M | |
| Free Cash Flow | -$1.3M | -$6.2M | -$38.2M | -$147.9M | -$174.1M | -$130.2M | -$167.1M | -$156.8M | |
| Capital Expenditure | $0.00 | -$639.0K | -$4.2M | -$16.1M | -$8.7M | -$7.3M | -$4.5M | -$797.0K | |
| Financing Cash Flow | $10.0M | $34.9M | $269.3M | $181.5M | $655.0K | $195.9M | $151.5M | $146.1M |
R&D Spending
R&D (TTM)
$146.2M
R&D Intensity
3589.5%
R&D Growth vs Prior
-9.0%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $5.2M | $0.00 | $0.00 | $0.00 | $3.0M | $4.6M | $4.1M | |
| R&D Expense | $920.0K | $3.0M | $70.5M | $86.7M | $147.9M | $155.3M | $160.6M | $146.2M | |
| R&D % of Revenue | — | 57.2% | — | — | — | 5205.8% | 3468.0% | 3589.5% | |
| SG&A | $1.3M | $3.2M | $13.9M | $29.8M | $43.4M | $50.2M | $52.3M | $54.4M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $5.2M | $0.00 | $0.00 | $0.00 | $3.0M | $4.6M | $4.1M | |
| Cost of Revenue | $2.8M | $3.0M | $0.00 | $0.00 | $0.00 | $0.00 | $7.3M | $45.8M | |
| Gross Profit | -$2.8M | $2.2M | $0.00 | $0.00 | $0.00 | $3.0M | -$2.7M | -$41.8M | |
| R&D | $920.0K | $3.0M | $70.5M | $86.7M | $147.9M | $155.3M | $160.6M | $146.2M | |
| SG&A | $1.3M | $3.2M | $13.9M | $29.8M | $43.4M | $50.2M | $52.3M | $54.4M | |
| Operating Income | -$2.2M | -$932.0K | -$84.5M | -$116.5M | -$204.8M | -$202.5M | -$208.3M | -$196.5M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$2.5M | -$1.5M | -$165.9M | -$122.8M | -$198.4M | -$195.9M | -$201.1M | -$187.9M | |
| Net Income | -$2.5M | -$3.4M | -$165.4M | -$121.8M | -$198.1M | -$195.9M | -$201.1M | -$187.9M | |
| EPS (Diluted) | -0.03 | -0.05 | -1.92 | -1.46 | -2.18 | -1.65 | -1.35 | -1.10 | |
| EBITDA | $4.0M | -$889.0K | -$165.3M | -$120.5M | -$186.6M | -$189.8M | -$195.8M | -$180.5M | |
| Shares Out. (M) | 95.73 | 95.73 | 95.73 | 97.21 | 90.97 | 118.60 | 148.76 | 177.22 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.6M | $37.0M | $185.4M | $187.6M | $41.6M | $182.5M | $63.0M | $47.5M | |
| Short-Term Investments | $0.00 | $16.4M | $84.2M | $106.3M | $80.1M | $8.0M | $114.6M | $47.6M | |
| Total Current Assets | $8.7M | $53.4M | $270.6M | $296.6M | $143.0M | $211.9M | $181.3M | $96.8M | |
| Total Assets | $8.7M | $54.8M | $301.9M | $360.3M | $193.9M | $297.5M | $342.7M | $249.0M | |
| Total Current Liabilities | $7.3M | $19.4M | $58.0M | $26.7M | $56.4M | $38.0M | $37.4M | $31.7M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $108.3M | $0.00 | |
| Total Liabilities | $7.3M | $21.3M | $62.3M | $44.0M | $60.8M | $144.4M | $221.9M | $209.2M | |
| Stockholders' Equity | $1.4M | $33.5M | $239.6M | $316.3M | $133.1M | $153.1M | $120.9M | $39.8M | |
| Retained Earnings | -$2.6M | -$6.0M | -$171.4M | -$293.2M | -$491.3M | -$687.2M | -$888.4M | -$979.6M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.3M | -$5.5M | -$34.1M | -$131.8M | -$165.4M | -$122.9M | -$162.6M | -$156.1M | |
| Capital Expenditure | $0.00 | -$639.0K | -$4.2M | -$16.1M | -$8.7M | -$7.3M | -$4.5M | -$797.0K | |
| Free Cash Flow | -$1.3M | -$6.2M | -$38.2M | -$147.9M | -$174.1M | -$130.2M | -$167.1M | -$156.8M | |
| Investing Cash Flow | $0.00 | -$1.1M | -$73.6M | -$47.1M | $18.7M | $68.5M | -$108.8M | $3.6M | |
| Financing Cash Flow | $10.0M | $34.9M | $269.3M | $181.5M | $655.0K | $195.9M | $151.5M | $146.1M | |
| Issuance of Stock | $10.0M | $0.00 | $270.4M | $185.3M | $655.0K | $170.1M | $139.5M | $557.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$6.0M | |
| Stock Based Comp. | $0.00 | $391.0K | $1.7M | $6.5M | $13.9M | $26.1M | $29.3M | $26.8M | |
| Net Change in Cash | $0.00 | $28.3M | $161.6M | $2.6M | -$146.0M | $141.5M | -$119.8M | -$6.4M |
Dilution Tracker
Shares outstanding grew 55.4% over 5 years — significant dilution
Shares Outstanding
181M
5-Year Share Growth
+55.4%
Stock Issuance (TTM)
$557.0K
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 95.73 | 95.73 | 95.73 | 97.21 | 90.97 | 118.60 | 148.76 | 177.22 | |
| Change vs Prior % | — | 0.0% | 0.0% | 1.5% | -6.4% | 30.4% | 25.4% | 19.1% | |
| Stock Issuance | $10.0M | $0.00 | $270.4M | $185.3M | $655.0K | $170.1M | $139.5M | $557.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $391.0K | $1.7M | $6.5M | $13.9M | $26.1M | $29.3M | $26.8M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | 42.8% | — | — | — | 100.0% | -58.1% | -1025.6% | |
| Operating Margin % | — | -17.9% | — | — | — | -6787.4% | -4498.1% | -4824.9% | |
| Net Margin % | — | -65.5% | — | — | — | -6566.6% | -4342.4% | -4613.1% | |
| EBITDA Margin % | — | -17.1% | — | — | — | -6361.2% | -4226.2% | -4431.5% | |
| FCF Margin % | — | -118.7% | — | — | — | -4363.4% | -3607.4% | -3850.9% | |
| ROE % | -182.1% | -10.2% | -69.0% | -38.5% | -148.9% | -127.9% | -166.4% | -188.3% | |
| ROA % | -29.1% | -6.2% | -54.8% | -33.8% | -102.2% | -65.8% | -58.7% | -75.4% | |
| ROIC % | -156.4% | -2.6% | -33.5% | -33.5% | -139.4% | -76.9% | -66.5% | -86.8% | |
| R&D / Revenue % | — | 57.2% | — | — | — | 5205.8% | 3468.0% | 3589.5% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 55.3% | |
| Gross Profit | 0.0% | 180.8% | -100.0% | 0.0% | 0.0% | 0.0% | -190.1% | |
| Operating Income | 0.0% | 57.1% | -8963.7% | -38.0% | -75.7% | 1.1% | -2.9% | |
| Net Income | 0.0% | -34.8% | -4749.5% | 26.3% | -62.6% | 1.1% | -2.7% | |
| EPS (Diluted) | 0.0% | -80.8% | -3542.6% | 24.0% | -49.1% | 24.2% | 18.3% | |
| Operating Cash Flow | 0.0% | -315.6% | -514.8% | -286.8% | -25.5% | 25.7% | -32.3% | |
| Free Cash Flow | 0.0% | -363.5% | -518.3% | -286.9% | -17.7% | 25.3% | -28.4% | |
| R&D Expense | 0.0% | 223.9% | 2267.4% | 22.9% | 70.5% | 5.0% | 3.4% | |
| SG&A Expense | 0.0% | 152.6% | 340.4% | 114.2% | 45.5% | 15.6% | 4.4% | |
| Total Assets | 0.0% | 529.9% | 451.0% | 19.4% | -46.2% | 53.5% | 15.2% | |
| Book Value / Share | 0.0% | 2309.9% | 615.7% | 30.0% | -55.0% | -11.7% | -37.1% | |
| Debt | 0.0% | 0.0% | 0.0% | 176.2% | -52.6% | 199.2% | 185.4% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 1.5% | -6.4% | 30.4% | 25.4% |
Valuation
P/E (TTM)At Loss
P/S207.07
10Y Low / Med / High111.44 / 116.10 / 282.41
P/B20.70
10Y Low / Med / High2.26 / 6.06 / 1059.30
EV/EBITDAAt Loss
EV/Revenue223.04
10Y Low / Med / High68.60 / 122.97 / 275.32
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$0.22
Cash / Share
$0.54
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -526.37 | -291.10 | -7.99 | -12.72 | -4.07 | -1.77 | -2.57 | -4.23 | |
| P/S Ratio | 0.00 | 282.41 | 0.00 | 0.00 | 0.00 | 116.10 | 111.44 | 207.07 | |
| P/B Ratio | 1059.30 | 43.96 | 6.14 | 5.71 | 6.06 | 2.26 | 4.27 | 20.70 | |
| EV/EBITDA | 366.51 | -1613.50 | -7.84 | -13.67 | -4.17 | -1.08 | -2.91 | -5.03 | |
| EV/Revenue | 0.00 | 275.32 | 0.00 | 0.00 | 0.00 | 68.60 | 122.97 | 223.04 |
Analyst Estimates & Quality
Altman Z-Score
-5.25
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $9.2M | $11.0M | $21.4M |
| Net Income | -$142.1M | -$136.0M | -$129.3M |
| EPS | $-0.96 | $-0.92 | $-0.87 |
| # Analysts (EPS) | 11 | 10 | 9 |
Dividends
Frequency
Quarterly
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Mar 22, 2018 | Mar 29, 2018 | $0.01 | Quarterly |
Revenue Segments
By Product
| Segment | 2024 | 2025 |
|---|---|---|
| Reportable Segment | $3.0M | $4.6M |