Prime Medicine, a biotechnology company specializing in genetic therapies, has closed on its initial public offering of 10,294,118 shares of stock at $17 per share. Before deducting expenses, the public offering netted Prime Medicine approximately $175M in proceeds.
The company began publicly trading on the Nasdaq on Oct. 20 under the ticker "PRIME."
Prime Medicine's flagship gene-editing product has the potential to repair 90 percent of disease-causing genetic mutations, according to an Oct. 24 Prime news release provided to Becker's.
J.P. Morgan, Goldman Sachs, Morgan Stanley and Jefferies serve as book-running managers for the offering.