PRME Stock Rises 11.8% on Collaboration With Bristol Myers

Zacks10-02

Shares of Prime Medicine, Inc. PRME were up 11.85% after the company announced a strategic research collaboration and license agreement with biotech giant Bristol Myers Squibb BMY. The collaboration ...

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PRME were up 11.85% after the company announced a strategic research collaboration and license agreement with biotech giant Bristol Myers Squibb BMY.\nThe collaboration ...</p>\n\n<a href=\"https://finance.yahoo.com/news/prme-stock-rises-11-8-184400789.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PRME Stock Rises 11.8% on Collaboration With Bristol Myers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPRME Stock Rises 11.8% on Collaboration With Bristol Myers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-02 02:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/prme-stock-rises-11-8-184400789.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Prime Medicine, Inc. PRME were up 11.85% after the company announced a strategic research collaboration and license agreement with biotech giant Bristol Myers Squibb BMY.\nThe collaboration ...</p>\n\n<a href=\"https://finance.yahoo.com/news/prme-stock-rises-11-8-184400789.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1093756168.USD","symbol_name":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/prme-stock-rises-11-8-184400789.html","article_id":"2472587878","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/H9DYdttPy00EKBHhcxtlCA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9f2a2e04a053cda7a8c096e532e43d28"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472587878","pubTimestamp":1727808240,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of Prime Medicine, Inc. PRME were up 11.85% after the company announced a strategic research collaboration and license agreement with biotech giant Bristol Myers Squibb BMY.The collaboration is aimed at developing reagents for the next generation of ex vivo T-cell therapies.Year to date, PRME’s shares have lost 56.3% compared with the industry’s decline of 1.2%.Prime Medicine is deploying its proprietary gene editing technology, Prime Editing platform, to develop a new class of differentiated one-time curative genetic therapies.Per the terms of the deal, Bristol Myers will be responsible for the development, manufacturing and commercialization of the next-generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development.In exchange, PRME will receive an upfront payment of $55 million and an equity investment worth $55 million from BMY.Prime Medicine is also eligible to receive more than $3.5 billion in milestones, including up to $1.4 b","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","MYE":"Myers Industries Inc","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU2242652126.USD":"FIDELITY FUNDS GLOBAL DIVIDENDS PLUS \"A\" (USD) INC","LU0114720955.EUR":"SUSTAINABLE GLOBAL HEALTH CARE \"A\" INC","LU0306807586.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" (USD) INC QF","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","BK4126":"金属与玻璃容器","IE0009355771.USD":"骏利亨德森环球生命科技A Acc","BK4532":"文艺复兴科技持仓","LU0237698245.USD":"富达环球地产基金A","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","IE00B2B36J28.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I1\" (USD) INC","KRYS":"Krystal Biotech Inc.","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","IE00BJT1NW94.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (SGDHDG) ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU1261432733.SGD":"Fidelity World A-ACC-SGD","BK4139":"生物科技","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4007":"制药","LU0985481810.HKD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" (HKD) INC M","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU0306806265.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" ACC","BMY":"施贵宝","LU0225771236.USD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" (USD) INC MF","BK4559":"巴菲特持仓","LU0882574055.USD":"富达全球健康医疗A ACC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU1032466523.USD":"高盛全球多资产收益组合Acc","BK4588":"碎股","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","FULC":"Fulcrum Therapeutics","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","LU0225284248.USD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","PRME":"Prime Medicine, Inc.","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","BK4581":"高盛持仓","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B"},"translate_title":"与百时美施贵宝合作，PRME股价上涨11.8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PRME":1,"MYE":1,"BMY":1,"FULC":1,"KRYS":1},"content_text":"Shares of Prime Medicine, Inc. PRME were up 11.85% after the company announced a strategic research collaboration and license agreement with biotech giant Bristol Myers Squibb BMY.\nThe collaboration is aimed at developing reagents for the next generation of ex vivo T-cell therapies.\nYear to date, PRME’s shares have lost 56.3% compared with the industry’s decline of 1.2%.\nImage Source: Zacks Investment Research\nTerms of PRME’s Deal With BMY\nPrime Medicine is deploying its proprietary gene editing technology, Prime Editing platform, to develop a new class of differentiated one-time curative genetic therapies.\nPer the terms of the deal, Bristol Myers will be responsible for the development, manufacturing and commercialization of the next-generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development.\nIn exchange, PRME will receive an upfront payment of $55 million and an equity investment worth $55 million from BMY.\nPrime Medicine is also eligible to receive more than $3.5 billion in milestones, including up to $1.4 billion in development milestones and more than $2.1 billion in commercialization milestones, along with royalties on net sales.\nThe equity investment from BMY impressed investors.\nThe deal with BMY will allow PRME to apply its Prime Editing technology beyond rare genetic diseases.\nPRME’s Strategic Pipeline Progress\nPrime Medicine also announced that it is prioritizing development in core areas of focus.  The company will focus on the development of two programs, PM359 and another candidate, for the treatment of chronic granulomatous disease (CGD).\nIn April 2024, the FDA cleared an investigational new drug (IND) application for PM359. PRME has initiated a phase I/II clinical trial to assess the safety, biological activity and preliminary efficacy of PM359 in adult and pediatric patients. It expects initial clinical data from the study in 2025.\nThe company’s other program is an ex vivo hematopoietic stem cell product for the treatment of X-linked CGD.\nPer PRME, these two programs have the potential to address the vast majority of people living with CGD.\nPrime Medicine is also focused on advancing its Wilson’s Disease program, which targets prevalent mutations in the ATP7B gene. The company expects to initiate IND-enabling activities for this program in the fourth quarter of 2024, and intends to file an IND and/or clinical trial application in the first half of 2026.\nAs a result of this strategic pipeline prioritization, Prime Medicine will streamline its operating expenses and capital expenditures.\nPrime Medicine expects its cash runway to fund operations into the first half of 2026 after receiving an upfront payment of $110 million from BMY.\nPRME’s Zacks Rank and Stocks to Consider\nPRME currently carries a Zacks Rank #3 (Hold). \nSome better-ranked stocks in the biotech sector are Krystal Biotech, Inc. KRYS and Fulcrum Therapeutics FULC, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 60 days, estimates for Krystal Biotech’s 2024 EPS have increased from $1.91 to $2.38. The consensus estimate for 2025 earnings has improved from $4.33 to $7.31. Year to date, shares of KRYS have jumped 42.8%.\nKRYS’ earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 45.95%.\nIn the past 90 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have narrowed from $1.33 to 28 cents. The consensus estimate for 2025 loss per share has narrowed from $1.71 to $1.14. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBristol Myers Squibb Company (BMY) : Free Stock Analysis Report\nPrime Medicine, Inc. (PRME) : Free Stock Analysis Report\nKrystal Biotech, Inc. (KRYS) : Free Stock Analysis Report\nFulcrum Therapeutics, Inc. (FULC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472587878"}