Prime Medicine Q1 net loss narrows as R&D expenses fall

Prime Medicine

07/05/2026 13:12

Overview

US gene editing biotech reported Q1 net loss narrowed from prior year

R&D expenses fell due to focus on liver programs and workforce reduction

Company appointed Svetlana Makhni as CFO in April 2026

Outlook

Prime Medicine expects cash position to fund operations into 2027

Result Drivers

R&D EXPENSES - Lower R&D expenses driven by focus on in vivo liver franchise, deprioritization of CGD program, and workforce reduction

CLINICAL EXPENSES - Higher clinical expenses as company advances Wilson Disease and AATD programs

LEGAL COSTS - G&A expenses increased due to arbitration-related legal expenses

Company press release: ID:nGNX1V5t46

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.28
Q1 Net Income
-$49.12 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Prime Medicine Inc is $6.00, about 76% above its May 6 closing price of $3.41

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)