Latest news with #PrimeMedicine
Yahoo
20-07-2025
- Business
- Yahoo
BMO Capital Maintains a Buy on Prime Medicine (PRME), Sets a $10 PT
Prime Medicine Inc. (NASDAQ:PRME) is one of the . On July 16, BMO Capital analyst Kostas Biliouris maintained a Buy rating on Prime Medicine Inc. (NASDAQ:PRME) and set a price target of $10.00. The analyst based the rating on the company's innovative gene editing technology. A scientist examining a microchip and circuit board in a hi-tech lab. Prime Medicine Inc. (NASDAQ:PRME) recently secured additional funding totaling $39 million from the Cystic Fibrosis Foundation, which, according to the analyst, highlights the potential of its prime editing platform and preclinical data in cystic fibrosis. Biliouris reasoned that the company's notable 90% editing efficiency attained in the second patient treated ex vivo, when coupled with this financial backlog, reduces the risk of Prime Medicine Inc.'s (NASDAQ:PRME) platform and increases its credibility. Headquartered in Cambridge, MA, Prime Medicine Inc. (NASDAQ:PRME) is a biotechnology company that develops one-time curative genetic therapies. While we acknowledge the potential of PRME as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-07-2025
- Business
- Yahoo
BMO Capital Maintains a Buy on Prime Medicine (PRME), Sets a $10 PT
Prime Medicine Inc. (NASDAQ:PRME) is one of the . On July 16, BMO Capital analyst Kostas Biliouris maintained a Buy rating on Prime Medicine Inc. (NASDAQ:PRME) and set a price target of $10.00. The analyst based the rating on the company's innovative gene editing technology. A scientist examining a microchip and circuit board in a hi-tech lab. Prime Medicine Inc. (NASDAQ:PRME) recently secured additional funding totaling $39 million from the Cystic Fibrosis Foundation, which, according to the analyst, highlights the potential of its prime editing platform and preclinical data in cystic fibrosis. Biliouris reasoned that the company's notable 90% editing efficiency attained in the second patient treated ex vivo, when coupled with this financial backlog, reduces the risk of Prime Medicine Inc.'s (NASDAQ:PRME) platform and increases its credibility. Headquartered in Cambridge, MA, Prime Medicine Inc. (NASDAQ:PRME) is a biotechnology company that develops one-time curative genetic therapies. While we acknowledge the potential of PRME as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Business Wire
16-07-2025
- Health
- Business Wire
Cystic Fibrosis Foundation Commits Up to an Additional $24 Million for Prime Medicine to Develop Gene Editing Therapy
BETHESDA, Md.--(BUSINESS WIRE)--Today, the Cystic Fibrosis Foundation announced an additional investment of up to $24 million in Prime Medicine to continue the development of a gene editing therapy for people with cystic fibrosis (CF). Prime Medicine uses a gene editing technology called prime editing — a technology that enables a wide range of modifications to the DNA with a high degree of precision. The company — founded by Drs. David Liu and Andrew Anzalone, who pioneered the development of this unique editing technology — is investigating whether prime editing could treat several diseases, including CF. The CF Foundation's initial investment in Prime Medicine supported work to demonstrate the versatility of prime editing to correct multiple CF-causing mutations in the lab. This additional investment by the CF Foundation will focus on the development of a prime editing therapy targeting the nonsense mutation G542X — one of the most prevalent CF-causing nonsense mutations and one for which there are no available therapies. 'We believe gene editing offers the best hope for a cure for cystic fibrosis because it could permanently correct the mutations that cause this disease,' said Michael P. Boyle, MD, president and chief executive officer of the Cystic Fibrosis Foundation. 'Our investment will help support gene editing research for CF through early development stages, including efforts to overcome the challenges of delivery to the lungs.' As part of its ongoing efforts to develop a prime editing therapy, Prime Medicine is investigating the best way to deliver its gene editing treatment to the lungs of people with CF, a major challenge because of the thick, sticky mucus that clogs the airways and the body's natural immune response to block foreign entities from entering cells. If successful, the gene editing cargo will enter the lung cells that normally make CFTR protein and correct the CFTR mutation in the cell's DNA, resulting in a potentially permanent fix to the CFTR gene. With continued advancement in prime editing and delivery to the lungs, this technology may eventually be used to correct many types of CF mutations. Prime Medicine is advancing multiple approaches in CF, including 'hotspot,' which uses prime editing to make smaller corrections to specific CFTR mutations and PASSIGE, which uses prime editing to make large gene insertions. These combined strategies eliminate the need to develop new prime editing therapies for each individual mutation. Previously, the Foundation committed up to $15 million to Prime Medicine to pursue development of their gene editing technology for CF. About the Cystic Fibrosis Foundation The Cystic Fibrosis Foundation is the world's leader in the search for a cure for cystic fibrosis. The Foundation funds more CF research than any other organization, and nearly every CF drug available today was made possible because of Foundation support. Based in Bethesda, Md., the Foundation also supports and accredits a national care center network that has been recognized by the National Institutes of Health as a model of care for a chronic disease. The CF Foundation is a donor-supported nonprofit organization. For more information, visit
Yahoo
16-07-2025
- Business
- Yahoo
Prime Medicine Announces Additional Funding of Up to $24 Million from the Cystic Fibrosis Foundation to Advance Prime Editing Treatments for Cystic Fibrosis
-- Expanded funding builds on the initial agreement to accelerate development of Prime Editors for Cystic Fibrosis (CF) -- -- Prime Medicine to receive up to $24 million in additional funding from the Cystic Fibrosis Foundation -- -- Multiple hotspot Prime Editors may benefit more than 93% of people with CF -- CAMBRIDGE, Mass., July 16, 2025 (GLOBE NEWSWIRE) -- Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced that the Cystic Fibrosis Foundation (CF Foundation) has agreed to provide the Company with up to $24 million in additional funding to accelerate the development of Prime Editors designed to permanently correct cystic fibrosis-related lung disease. The CF Foundation's additional investment builds on initial funding received under Prime Medicines' January 2024 agreement, and reflects its interest in Prime Editing as a potentially curative approach for CF. Prime Editing can correct a wide range of genetic mutations, and Prime Medicine intends to leverage the technology's versatility and modularity to address multiple disease-causing mutations, potentially treating the vast majority of people with CF. Prime Medicine will initially focus on a program targeting G542X, one of the most prevalent CF-causing nonsense mutations and one for which there are no available therapies. In addition, the Company will continue to advance hotspot and PASSIGE-based approaches for other mutations with funding received from the CF Foundation under its initial commitment in 2024. 'We are honored to receive continued support from the CF Foundation, whose longstanding commitment to driving innovation has reshaped the treatment landscape for people living with CF,' said Allan Reine, M.D., Chief Executive Officer of Prime Medicine. 'This additional funding reflects our shared belief in the transformative potential of Prime Editing therapy for people with this devastating genetic disease, especially for those where the current standard of care is either ineffective or poorly tolerated. This funding also exemplifies our strategic approach to business development, and our commitment within Prime Medicine to leveraging external resources to accelerate innovation and ensure the broadest application of our technology.' The CF Foundation will provide Prime Medicine with up to $24 million in two tranches, subject to certain closing conditions and scientific milestones; the first tranche includes a $6 million equity investment in Prime Medicine. About Cystic Fibrosis Cystic fibrosis (CF) is a serious, inherited genetic disease caused by mutations in the CFTR (cystic fibrosis transmembrane conductance regulator) gene. These mutations result in reduced or absent function of the CFTR protein, which is critical for maintaining the balance of salt and fluids across epithelial surfaces in organs such as the lungs, pancreas, and gastrointestinal tract. When CFTR is not functioning properly, thick, sticky mucus accumulates, leading to chronic lung infections, progressive respiratory decline, and impaired digestion and nutrient absorption. CF affects approximately 100,000 people globally, including over 40,000 in the United States. While disease-modifying therapies have improved outcomes for many individuals, they are not curative and are ineffective for some people with certain mutations. There remains a significant unmet need for a one-time, potentially curative treatment that can address the underlying genetic cause of CF across diverse genotypes. About Prime Medicine Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is deploying its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated one-time curative genetic therapies. Designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications, Prime Editors have the potential to repair almost all types of genetic mutations and work in many different tissues, organs and cell types. Taken together, Prime Editing's versatile gene editing capabilities could unlock opportunities across thousands of potential indications. Prime Medicine is currently progressing a diversified portfolio of investigational therapeutic programs organized around our core areas of focus: liver, lung, and immunology and oncology. Across each core area, Prime Medicine is focused initially on a set of high value programs, each targeting a disease with well-understood biology and a clearly defined clinical development and regulatory path, and each expected to provide the foundation for expansion into additional opportunities. Over time, the Company intends to maximize Prime Editing's broad and versatile therapeutic potential, as well as the modularity of the Prime Editing platform, to rapidly and efficiently expand beyond the diseases in its current pipeline, potentially including additional genetic diseases, immunological diseases, cancers, infectious diseases, and targeting genetic risk factors in common diseases, which collectively impact millions of people. For more information, please visit © 2025 Prime Medicine, Inc. All rights reserved. PRIME MEDICINE, the Prime Medicine logos, and PASSIGE are trademarks of Prime Medicine, Inc. All other trademarks referred to herein are the property of their respective owners. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about Prime Medicine's beliefs and expectations regarding: the agreement with the CF Foundation and the intended and potential benefits thereof, including the receipt of payments based on scientific milestones; the potential for Prime Editing to correct the causative mutations of diseases, including CF; the potential for Prime Editing to treat the vast majority of people with CF; the continued advancement of hotspot and PASSIGE-based approaches for correcting mutations other than G542X; the breadth of Prime Editing technology and the implementation of its strategic plans for its business, programs, and technology; and the potential of Prime Editing as a transformative gene editing technology and its ability to unlock opportunities across thousands of potential indications Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: uncertainties related to Prime Medicine's product candidates entering clinical trials; the authorization, initiation, and conduct of preclinical and IND-enabling studies and other development requirements for potential product candidates, including uncertainties related to opening INDs and obtaining regulatory approvals; risks related to the development and optimization of new technologies, the results of preclinical studies, or clinical studies not being predictive of future results in connection with future studies; the scope of protection Prime Medicine is able to establish and maintain for intellectual property rights covering its Prime Editing technology; Prime Medicine's ability to identify and enter into future license agreements and collaborations; Prime Medicine's expectations regarding the anticipated timeline of its cash runway and future financial performance; and general economic, industry and market conditions. These and other risks and uncertainties are described in greater detail in the section entitled 'Risk Factors' in Prime Medicine's most recent Annual Report on Form 10-K, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Prime Medicine's views only as of today and should not be relied upon as representing its views as of any subsequent date. Prime Medicine explicitly disclaims any obligation to update any forward-looking statements subject to any obligations under applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Investor and Media Contacts Gregory DearbornPrime Medicine857-209-0696gdearborn@ Hannah DeresiewiczPrecision in to access your portfolio
Yahoo
07-07-2025
- Business
- Yahoo
Prime Medicine Focuses on Genetic Liver Diseases, Partnered Programs After Positive CGD Data
Prime Medicine Inc. (NASDAQ:PRME) is one of the best hot stocks to buy according to Wall Street analysts. In May, Prime Medicine announced a strategic restructuring, which included a reprioritization of its pipeline, cost-cutting measures, and a leadership transition. The company will now focus its internal efforts on in vivo programs for large genetic liver diseases, specifically Wilson's Disease and Alpha-1 Antitrypsin Deficiency/AATD, and continue its in vivo Cystic Fibrosis program with external support, as well as partnered programs for Prime Edited CAR-T products. This shift follows the announcement of initial positive data from the Phase 1/2 clinical trial of PM359 in Chronic Granulomatous Disease/CGD, which provided clinical proof-of-concept for Prime Editing as a transformative gene editing technology. A scientist examining a microchip and circuit board in a hi-tech lab. However, Prime Medicine is now exploring options for the continued clinical development of PM359 external to the company and ceasing further internal efforts in X-linked CGD. For its internal programs, Prime Medicine expects to file an Investigational New Drug/IND application and/or Clinical Trial Application/CTA for its Wilson's Disease program in H1 2026, and for its AATD program in mid-2026. Initial clinical data from both programs are anticipated in 2027. Prime Medicine Inc. (NASDAQ:PRME) is a biotechnology company that delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology in the US. While we acknowledge the potential of PRME as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
