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what it is
Prime Medicine builds gene-editing therapies that try to fix disease-causing DNA errors with one-time treatments.
how it gets paid
Last year Prime Medicine made $5M in revenue. Hematology & immunology was the main engine at $2M, or 40% of sales.
why it's growing
Revenue grew 55.3% last year. Revenue rose 210%, but it still landed at only $4M.
what just happened
$4M in revenue and $1.11 lost per share.
At a glance
B balance sheet — gets the job done, barely
-$1.65 fy2024 eps est
$3M fy2024 rev est
n/a operating margin
2.1 beta
xvary composite: 47/100 — below average
What they do
Prime Medicine builds gene-editing therapies that try to fix disease-causing DNA errors with one-time treatments.
A pill treats symptoms. Prime tries to edit the DNA error itself. The company says its Prime Editing tech can reach about 90% of known disease-causing mutations. That matters because you are buying one engine across 5 disease areas, not one narrow drug.
How they make money
$5M
annual revenue · their business grew +55.3% last year
Hematology & immunology
$2M
Liver programs
$1M
Lung programs
$1M
Ocular programs
$0.5M
Neuromuscular programs
$0.5M
The products that matter
pre-clinical gene-editing platform
Prime Editing Platform
$659M valuation · $0 product revenue
this is the whole story. the platform carries a $659M market value, but it has not entered human trials and has generated no product revenue.
science first
partnership and licensing revenue
Research Collaborations
$4.6M · 100% of revenue
research collaborations generated the company's entire $4.6M in trailing revenue. that's real cash, but it is still less than 1% of market cap.
current cash source
lead pipeline programs
PM577 & PM647
IND/CTA planned for 2H 2026
these lead programs are supposed to move the company toward human trials in 2H 2026. until that happens, you are valuing intent and pre-clinical data, not clinical proof.
timeline matters
Key numbers
$659M
market cap
The market pays $659M for a company with $5M of annual sales. That gap is the whole debate.
$5M
annual sales
Sales are tiny versus the valuation. That makes funding and trial progress do the heavy lifting.
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. That number means the business spent far more than it sold. You are buying science, not current profits.
$110M
long-term debt
Debt is 14% of capital. For a company with $5M of revenue, that is real leverage.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $110M (14% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for PRME right now.
source: institutional data · return history unavailable
What just happened
missed estimates
$4M in revenue and $1.11 lost per share.
Revenue jumped 210% vs. prior year from a tiny base. The company still lost money, so the chart looks better than the income statement.
$4M
revenue
-$1.11
eps
210%
revenue Vs. last year
revenue growth
Revenue rose 210%, but it still landed at only $4M. That is the kind of growth that keeps the story alive, not the profits.
source: company earnings report, 2026
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What could go wrong
the #1 risk is funding the platform before PM577 and PM647 reach human trials.
med
cash runway versus filing timeline
$191M in cash is expected to fund operations only into the first half of 2026, while key IND/CTA filings are planned for 2H 2026.
If the timeline slips, dilution risk shows up before the science gets a chance to prove itself.
med
pre-clinical execution risk
Lead programs PM577 and PM647 have not entered human trials. That means there is still no clinical proof behind most of the valuation.
This is the clean version of the risk: 100% of the product story still depends on future data.
med
economics that barely exist yet
Prime Medicine reported a $201M net loss on $4.6M of trailing revenue, for a n/a net margin.
That exposes you to capital-market risk as much as biotech risk. The company needs money long before it needs margins.
A delay beyond the current cash window would pressure financing before PRME has human data, and 100% of current revenue still comes from collaboration payments rather than product sales.
source: institutional data · regulatory filings · risk analysis
Pay attention to
timeline
IND/CTA filings for PM577 & PM647
Planned for 2H 2026. These filings are the first real bridge from platform story to human-trial reality.
cash
runway update at the next earnings report
The company ended 2025 with $191M in cash and says that funds operations only into the first half of 2026. Every update matters.
revenue quality
whether collaboration revenue keeps growing
Collaboration revenue rose 55.3% to $4.6M. Growth helps, but it does not change the fact that this is still non-product revenue.
volatility
the gap between $1 and $7
PRME traded between $1 and $7 over the last 52 weeks. That is what happens when the stock price reflects financing odds and milestone timing more than current fundamentals.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for PRME is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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