Prime Medicine prices $125 million stock offering

Prime Medicine priced an underwritten offering of 35.7 million newly issued shares at $3.50 each, aiming to raise about $125 million before expenses. The company is selling all the shares, so it will receive the proceeds, while existing shareholders’ ownership stakes will be diluted. The offering price was roughly 19% below the stock’s prior closing price. Underwriters have a 30-day option to buy up to 5.36 million additional shares, and the offering is expected to close around November 12, 2026. Prime Medicine plans to use the financing to support its development of gene-editing therapies.