Prime Medicine announces public offering of common stock

Prime Medicine Inc. (NASDAQ: PRME) announced it has commenced an underwritten public offering of common stock shares. The biotechnology company also intends to grant underwriters a 30-day option to purchase up to an additional 15% of the shares offered in the public offering.

All shares in the proposed offering will be sold by Prime Medicine. The company stated the offering is subject to market and other conditions, with no assurance regarding completion timing or final terms.

TD Cowen and BMO Capital Markets are serving as joint book-running managers for the proposed offering.

The shares are being offered under an effective shelf registration statement filed with the Securities and Exchange Commission on November 3, 2023, and declared effective on November 13, 2023. A preliminary prospectus supplement describing the offering terms will be filed with the SEC.

Prime Medicine develops gene editing therapies using its Prime Editing platform technology. The company focuses on therapeutic programs in liver, lung, immunology and oncology areas.

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