CAMBRIDGE, Mass., Nov. 10, 2026 (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 the pricing of an underwritten public offering of 35,714,286 shares of its common stock at a public offering price of $3.50 per share. Prime Medicine has also granted the underwriters a 30-day option to purchase up to an additional 5,357,142 shares of its common stock. The gross proceeds to Prime Medicine from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $125.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares of common stock in the offering are to be sold by Prime Medicine. The offering is expected to close on or about November 12, 2026, subject to the satisfaction of customary closing conditions.

Jefferies, TD Cowen and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. Oppenheimer & Co. and LifeSci Capital are acting as passive book-running managers for the offering.

The shares of common stock are being offered by Prime Medicine pursuant to a shelf registration statement on Form S-3ASR (File No. 333-291348) filed with the U.S. Securities and Exchange Commission (SEC) on November 7, 2025, as amended by that certain Post-Effective Amendment No. 1 to Form S-3 (No. 333-291348) and that certain Post-Effective Amendment No. 2 to Form S-3 (No. 333-291348), each filed with the SEC on March 3, 2026, and declared effective by the SEC on March 4, 2026. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov .

The final prospectus supplement relating to and describing the final terms of the offering will be filed with the SEC and, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388, or by email at [email protected]; TD Securities (USA) LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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. Prime Editors are designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications.

Prime Medicine is currently progressing a diversified portfolio of investigational therapeutic programs organized around its 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.

© 2026 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 expected gross proceeds from the public offering and the timing and closing of the public offering. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

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, uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. 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, Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and any of its subsequent filings with the SEC. 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 Dearborn
Prime Medicine
857-209-0696
[email protected]

Hannah Deresiewicz
Precision AQ
212-362-1200
[email protected]