Prime Medicine Inc
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
PRME$4.30-7.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| (in thousands) | 2023 | 2022 |
| Cash flows used in operating activities: | ||
| Net loss | $(198,133) | $(121,821) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 13,910 | 6,459 |
| Non cash lease expense | 12,788 | 9,790 |
| Depreciation expense | 4,653 | 2,224 |
| Change in fair value of short-term investment — related party | 2,382 | 8,128 |
| Loss on disposal of property and equipment | 28 | 8 |
| Amortization of premiums and discount on short-term investments | (3,408) | (250) |
| Deferred income taxes | (279) | (964) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (9,455) | (1,738) |
| Accounts payable | 9,140 | 2,458 |
| Accrued expenses and other current liabilities | 1,758 | (25,873) |
| Accrued settlement payment — related party | 13,500 | — |
| Lease liability | (12,296) | (10,248) |
| Net cash used in operating activities | (165,412) | (131,827) |
| Cash flows provided by (used in) investing activities: | ||
| Maturities of investments | 132,556 | 93,000 |
| Purchases of investments | (104,951) | (123,336) |
| Purchases of property and equipment | (8,724) | (16,095) |
| Payments of security deposits | (170) | (665) |
| Net cash provided by (used in) investing activities | 18,711 | (47,096) |
| Cash flows provided by financing activities: | ||
| Net proceeds from stock option exercises | 655 | 219 |
| Proceeds from initial public offering, net of underwrites discounts and commissions and deferred offering costs | — | 185,317 |
| Payments of deferred offering costs | — | (4,042) |
| Net cash provided by financing activities | 655 | 181,494 |
| Net change in cash, cash equivalents, and restricted cash | (146,046) | 2,571 |
| Cash, cash equivalents, and restricted cash at beginning of period | 201,116 | 198,545 |
| Cash, cash equivalents, and restricted cash at end of period | $55,070 | $201,116 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash, cash equivalents, and restricted cash at end of period | $55,070 | $201,116 |
| Restricted cash | 13,496 | 13,496 |
| Total cash, and cash equivalents | $41,574 | $187,620 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| (in thousands) | 2023 | 2022 |
| Supplemental cash flow information: | ||
| Decrease in right-of-use assets due to lease termination | $6,081 | $— |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $3,265 | $28,590 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Purchases of property and equipment included in accounts payable and accrued expenses | $575 | $969 |
| Conversion of convertible preferred stock to common stock upon closing of initial public offering | $— | $395,800 |
| Settlement of related party forward contract | $— | $12,020 |
| Cash taxes paid | $— | $141 |
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