$PRME
Prime Medicine, Inc.

2024 Q4 Form 10-Q Financial Statement

#000162828024047130 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $209.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.10M $13.08M
YoY Change 34.42% 35.94%
% of Gross Profit
Research & Development $40.34M $41.46M
YoY Change -1.54% 42.66%
% of Gross Profit
Depreciation & Amortization $1.558M $1.247M
YoY Change 26.05% 43.33%
% of Gross Profit
Operating Expenses $54.44M $68.04M
YoY Change 5.79% 75.89%
Operating Profit -$54.23M
YoY Change 5.39%
Interest Expense $1.797M $635.0K
YoY Change -213.73% -137.16%
% of Operating Profit
Other Income/Expense, Net $1.714M $1.765M
YoY Change 166.56% 90.6%
Pretax Income -$52.52M -$65.64M
YoY Change 3.34% 66.32%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$52.52M -$65.64M
YoY Change 3.57% 61.69%
Net Earnings / Revenue -25128.23%
Basic Earnings Per Share -$0.44
Diluted Earnings Per Share -$0.44 -$0.71
COMMON SHARES
Basic Shares Outstanding 131.2M shares 120.0M shares 97.32M shares
Diluted Shares Outstanding 119.8M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $175.5M $121.7M
YoY Change 6.19% -57.47%
Cash & Equivalents $118.0M $41.57M
Short-Term Investments $57.55M $80.09M
Other Short-Term Assets $9.538M $2.254M
YoY Change -50.32% -16.43%
Inventory
Prepaid Expenses $6.006M $19.06M
Receivables $55.00M
Other Receivables $0.00
Total Short-Term Assets $246.1M $143.0M
YoY Change 33.35% -51.8%
LONG-TERM ASSETS
Property, Plant & Equipment $23.29M $22.66M
YoY Change 5.7% 19.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $779.0K
YoY Change -100.0% -52.67%
Total Long-Term Assets $86.71M $50.88M
YoY Change 58.77% -20.13%
TOTAL ASSETS
Total Short-Term Assets $246.1M $143.0M
Total Long-Term Assets $86.71M $50.88M
Total Assets $332.8M $193.9M
YoY Change 39.16% -46.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.429M $19.54M
YoY Change -61.56% 350.99%
Accrued Expenses $18.68M $14.11M
YoY Change 33.24% 32.02%
Deferred Revenue $9.280M $0.00
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.88M $56.42M
YoY Change -3.78% 111.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $105.4M $4.357M
YoY Change 1717.29% -74.45%
Total Long-Term Liabilities $105.4M $4.357M
YoY Change 1717.29% -74.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.88M $56.42M
Total Long-Term Liabilities $105.4M $4.357M
Total Liabilities $143.3M $60.78M
YoY Change 217.08% 38.0%
SHAREHOLDERS EQUITY
Retained Earnings -$644.9M -$491.3M
YoY Change 51.49% 67.56%
Common Stock $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $189.5M $133.1M
YoY Change
Total Liabilities & Shareholders Equity $332.8M $193.9M
YoY Change 39.16% -46.2%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$52.52M -$65.64M
YoY Change 3.57% 61.69%
Depreciation, Depletion And Amortization $1.558M $1.247M
YoY Change 26.05% 43.33%
Cash From Operating Activities -$25.91M -$43.86M
YoY Change -33.85% 42.82%
INVESTING ACTIVITIES
Capital Expenditures $1.277M $1.840M
YoY Change -55.97% -61.78%
Acquisitions
YoY Change
Other Investing Activities $51.62M $43.13M
YoY Change -248.08% -586.03%
Cash From Investing Activities $50.34M $41.29M
YoY Change -233.29% -401.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 38.51M 194.0K
YoY Change 11935.31% -99.89%
NET CHANGE
Cash From Operating Activities -25.91M -43.86M
Cash From Investing Activities 50.34M 41.29M
Cash From Financing Activities 38.51M 194.0K
Net Change In Cash 62.94M -2.385M
YoY Change -182.15% -101.71%
FREE CASH FLOW
Cash From Operating Activities -$25.91M -$43.86M
Capital Expenditures $1.277M $1.840M
Free Cash Flow -$27.19M -$45.70M
YoY Change -35.37% 28.65%

Facts In Submission

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<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected within these condensed consolidated financial statements include, but are not limited to, the valuation of the Company’s common stock and stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ materially from those estimates or assumptions.</span></div>
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CY2024Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q3 us-gaap Operating Lease Liability
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CY2024Q3 prme Common Stock Par Or Stated Value Per Share Under Amendment
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CY2024Q3 prme Common Stock Number Of Votes Per Share
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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