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Prime Medicine, Inc. (Nasdaq: PRME) is at the forefront of biotechnology with a mission to deliver next-generation genetic therapies aimed at addressing a wide spectrum of diseases. Leveraging its proprietary Prime Editing platform, the company uses precise and efficient gene editing technology to develop potentially curative genetic therapies. Prime Editing allows for targeted modifications at specific genomic sites, which can repair almost all types of genetic mutations with minimal unwanted DNA changes. This versatile technology holds promise for treating genetic disorders affecting various tissues, organs, and cell types.
Prime Medicine is currently advancing a diversified portfolio of eighteen programs, initially focused on genetic diseases with high unmet medical needs. Some of the company's key projects include therapies for Chronic Granulomatous Disease (CGD) and Cystic Fibrosis (CF). In recent news, the U.S. Food and Drug Administration (FDA) has cleared Prime Medicine's Investigational New Drug (IND) application for PM359, intended to treat CGD. This marks a significant milestone as PM359 is the first-ever Prime Editor product candidate to advance to clinical trials.
Financially, the company reported robust results for the year ended December 31, 2023, and remains committed to progressing its clinical programs. Prime Medicine also emphasizes collaborations and partnerships to accelerate its innovative work. A notable recent development includes its amicable settlement with Myeloid Therapeutics, Inc., allowing both companies to pursue their scientific and commercial goals unimpeded.
Prime Medicine's commitment to innovation extends to tackling Cystic Fibrosis through Prime Editing technology. The company plans to correct CFTR mutations using two distinct strategies: hotspot editing and the Prime Assisted Site Specific Integrase Gene Editing (PASSIGE™). With funding from the Cystic Fibrosis Foundation, Prime Medicine aims to develop therapies that could potentially cure the disease.
In summary, Prime Medicine is a pioneering biotechnology firm dedicated to transforming genetic therapy. Its cutting-edge Prime Editing platform and focus on high unmet medical needs make it a significant player in the field of gene editing.
Prime Medicine reported Q3 2024 financial results and business updates. The company presented initial in vivo data for its Wilson's Disease program and universal liver-targeted LNP at ESGCT, showing up to 80% precise mutation correction. A strategic collaboration with Bristol Myers Squibb brought $110 million upfront with potential for $3.5 billion in milestone payments. The company reported a net loss of $52.5 million and pro-forma cash position of $244.6 million, expected to fund operations into 1H 2026. Prime Medicine remains on track to file IND/CTA for Wilson's Disease in 1H 2026 and report initial data from Phase 1/2 trial of PM359 for CGD in 2025.
Prime Medicine (Nasdaq: PRME) has announced its participation in three upcoming investor conferences in November 2024. The company will engage in fireside chats at Guggenheim's Inaugural Healthcare Innovation Conference in Boston on November 13 at 3:00 p.m. ET, the Stifel 2024 Healthcare Conference in New York on November 18 at 1:15 p.m. ET, and the Jefferies London Healthcare Conference in London on November 19 at 2:30 p.m. GMT. Live audio webcasts will be available on Prime Medicine's website, with replays accessible for 90 days after each event.
Prime Medicine (Nasdaq: PRME) presented promising preclinical data for its Wilson's Disease program and universal liver-targeted LNP platform at the ESGCT 31st Annual Congress. The company demonstrated successful correction of disease-causing mutations in both mouse and non-human primate models, achieving up to 80% precise correction of the H1069Q mutation in humanized mice and up to 51% editing in NHPs. The proprietary GalNAc-LNP delivery system showed improved safety, potency, and biodistribution compared to other LNPs.
The company plans to initiate IND-enabling activities for the Wilson's Disease program in Q4 2024, with IND/CTA filing expected in 1H 2026. Additional data from their Glycogen Storage Disease Type 1b (GSD1b) program showed up to 85% precise liver cell editing, with effects lasting up to 44 weeks in NHPs, validating their universal LNP approach.
Prime Medicine (Nasdaq: PRME) announced it will present new preclinical data from its Prime Editing pipeline at two upcoming scientific meetings: the European Society of Gene and Cell Therapy (ESGCT) 31st Annual Congress in Rome (October 22-25, 2024) and the American Association for the Study of Liver Diseases (AASLD) in San Diego (November 15-19, 2024).
The company will showcase in vivo data from its Wilson's Disease program and its universal liver-directed lipid nanoparticle (LNP) platform. Prime Medicine is on track to initiate IND-enabling activities for the Wilson's Disease program in Q4 2024, with an IND or CTA filing expected in H1 2026.
Presentations will cover various topics, including glycemic control restoration in Glycogen Storage Disease Type 1b, Prime Edited cell products for Chronic Granulomatous Disease, and advancements in Prime Editing for Wilson's Disease and Retinitis Pigmentosa.
Prime Medicine (Nasdaq: PRME) has announced a strategic focus on high-value programs in its pipeline. The company is prioritizing:
- Two programs for chronic granulomatous disease (CGD), including PM359 for p47phox CGD and a new program for X-linked CGD
- A collaboration with Bristol Myers Squibb for ex vivo T-cell therapies
- A liver lipid nanoparticle program for Wilson's Disease
- Two strategies for Cystic Fibrosis treatment
Prime Medicine expects to share initial clinical data from its CGD trial in 2025 and new preclinical data for Wilson's Disease in Q4 2024. The company aims to file an IND/CTA for Wilson's Disease in 1H 2026. With the Bristol Myers Squibb collaboration and cost savings, Prime Medicine anticipates extending its cash runway into 1H 2026.
Prime Medicine (Nasdaq: PRME) has announced a strategic research collaboration and license agreement with Bristol Myers Squibb (NYSE: BMY) to develop reagents for next-generation ex vivo T-cell therapies. The collaboration combines Prime Medicine's gene editing capabilities with Bristol Myers Squibb's expertise in cell therapy development and commercialization.
Key points of the agreement include:
- Prime Medicine to receive $110 million upfront ($55 million payment and $55 million equity investment)
- Potential for over $3.5 billion in milestones ($1.4 billion in development, $2.1 billion in commercialization)
- Prime Medicine to design optimized Prime Editor reagents, including those using PASSIGE™ technology
- Bristol Myers Squibb responsible for development, manufacturing, and commercialization
The collaboration aims to expand Prime Editing technology beyond rare genetic diseases, potentially addressing unmet needs in immunological diseases and cancer.
Prime Medicine (Nasdaq: PRME), a biotechnology company focused on one-time curative genetic therapies, has announced its participation in several upcoming investor conferences in September 2024. These include:
1. Morgan Stanley Global Healthcare Conference on September 4 in New York
2. Wells Fargo Healthcare Conference on September 5 in Boston
3. Cantor Global Healthcare Conference on September 17 in New York
4. Chardan's Genetic Medicines Conference on September 30 in New York
The company will engage in fireside chats, panel discussions, and investor meetings during these events. Live audio webcasts of the presentations will be available on Prime Medicine's website, with replays accessible for 90 days after each event.
Prime Medicine (Nasdaq: PRME) reported Q2 2024 financial results and provided business updates. Key highlights include:
1. FDA clearance for PM359, a Prime Editor for chronic granulomatous disease (CGD), to enter clinical trials.
2. Promotion of Dr. Mohammed Asmal to Chief Medical Officer.
3. Advancing multiple programs across core focus areas.
4. R&D expenses increased to $43.1 million from $34.6 million in Q2 2023.
5. Net loss widened to $55.3 million from $42.4 million in Q2 2023.
6. Cash position of $176.4 million as of June 30, 2024.
The company anticipates initial clinical data for PM359 in 2025 and plans to advance several programs in hematology, immunology, liver, ocular, and neuromuscular areas.
Prime Medicine, a biotechnology firm traded on Nasdaq under the symbol PRME, announced that CEO Keith Gottesdiener will present at two upcoming investor conferences. The first presentation will be at the Jefferies Healthcare Conference on June 5, 2024, at 1:30 p.m. ET in New York, NY. The second presentation will be at the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024, at 2:00 p.m. ET in Miami Beach, FL. Live audio webcasts of both events will be available in the 'Events & Presentations' section on the company's website, with replays accessible for 90 days post-event.
Prime Medicine, Inc. (Nasdaq: PRME) will have Allan Reine, M.D., Chief Financial Officer, participating in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference at NASDAQ on May 20, 2024.
The company is focused on delivering innovative one-time curative genetic therapies, with the event allowing investors to gain insights into Prime Medicine's future endeavors.
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