PRMEPrime Medicine, Inc.

Biological Products, (no Diagnostic Substances)

Revenue: $5M; 55% YoY
Operating margin: -4498.1%; 34% YoY
EBITDA: −$201M; 2.4% YoY
Market cap: $853M
Employees: 146; $32K revenue each
Net debt / EBITDA: —
AI in 10-K: 2.3; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 2 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
632% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentYes
74% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$32K · 28th pct
Bottom quartile of its SIC industry
Quiet on AINo
2.3 per 10K words · 60th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$853M market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$0 net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$0	$0	$0	$3M	$5M	55%
Operating income	−$84M	−$117M	−$205M	−$202M	−$208M	2.9%
Net income	−$165M	−$122M	−$198M	−$196M	−$201M	2.7%
Operating cash flow	−$34M	−$132M	−$165M	−$123M	−$163M	32%
Capex	$4M	$16M	$9M	$7M	$5M	38%
Stock-based comp	$2M	$6M	$14M	$26M	$29M	12%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Aug 11, 2025	ARCH Venture Fund XII, L.P.	SCHEDULE 13D/A	10.4%	Passive
Nov 22, 2024	ARCH Venture Fund XII, L.P.	SC 13D/A	11.8%	Passive
Feb 22, 2024	ARCH Venture Fund XII, L.P.	SC 13D	12.9%	Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.