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PRIME MEDICINE INC

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Prime Medicine

Prime Medicine Inc is a biotechnology company committed to delivering genetic therapies to address diseases by deploying gene editing technology, Prime Editing. The Prime Editing technology is a next-generation technology that can search and replace to restore normal genetic function in the genome and can treat a wide spectrum of diseases with high unmet medical needs and efficient and broad gene editing technology.

Prime Medicine Inc

Keros Therapeutics, Inc. ("Keros", the "Company" or "we") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KROS#NASDAQ">KROS</a>), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta ("TGF-ß") family of proteins,today announced topline data from the TROPOS trial, a Phase 2 clinical trial of cibotercept (KER-012) in combination with background therapy in patients with pulmonary arterial hypertension ("PAH"), and provided a corporate update.
Corporate Restructuring
In connection with the decision to discontinue all development of cibotercept in PAH and an assessment of its ongoing development programs, the Keros Board of Directors (the "Board") and management team have decided to reduce the Company's headcount by approximately 45%, after which the Company will have 85 full-time employees. The reduction in headcount will commence after the 60-day notice period required by the Worker Adjustment and Retraining Notification Act has elapsed, and as a result of these actions, Keros expects to realize average annualized cost savings of approximately $17 million.

News

KROS

Keros Therapeutics To Cut Workforce By 45% Following Cibotercept Discontinuation, Expects $17M Annual Savings

Veeva Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) reported quarterly earnings of $1.97 per share which beat the analyst consensus estimate of $1.74 by 13.22 percent. This is a 31.33 percent increase over earnings of $1.50 per share from the same period last year. The company reported quarterly sales of $759.00 million which beat the analyst consensus estimate of $731.91 million by 3.70 percent. This is a 16.71 percent increase over sales of $650.35 million the same period last year.

Earnings

Earnings Beats

VEEV

CORRECTION: Veeva Sys Q1 Adj. EPS $1.97 Beats $1.74 Estimate, Sales $759.00M Beat $731.91M Estimate

Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.46 by 6.52 percent. This is a 28.95 percent increase over earnings of $0.38 per share from the same period last year. The company reported quarterly sales of $1.42 billion which met the analyst consensus estimate. This is a 2.89 percent increase over sales of $1.38 billion the same period last year.

BBWI

Bath & Body Works Q1 EPS $0.49 Beats $0.46 Estimate, Sales $1.42B Inline

Discontinues Development of Cibotercept in PAH
Announces Corporate Restructuring to Align Operations with Ongoing Strategic Priorities
LEXINGTON, Mass., May 29, 2025 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. ("Keros", the "Company" or "we") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KROS#NASDAQ">KROS</a>), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta ("TGF-ß") family of proteins,today announced topline data from the TROPOS trial, a Phase 2 clinical trial of cibotercept (KER-012) in combination with background therapy in patients with pulmonary arterial hypertension ("PAH"), and provided a corporate update.
TROPOS Trial Results
TROPOS is a randomized, double-blind, placebo-controlled, global Phase 2 clinical trial to evaluate cibotercept in combination with background therapy in patients with PAH.&nbsp;On December 12, 2024, the Company announced that it had voluntarily halted the 3.0 mg/kg and 4.5 mg/kg treatment arms based on the observation of pericardial effusions at those dose levels. Furthermore, on January 15, 2025, the Company announced that it had voluntarily halted all dosing in the trial, including the 1.5 mg/kg and placebo treatment arms, based on the ongoing safety review due to new observations of pericardial effusion adverse events. Following the early termination of the trial, patients continued to be monitored through their end-of-trial visits.
Following the analysis of all available safety and efficacy data from the TROPOS trial, the Company has decided to discontinue all development of cibotercept in PAH.
"Additional treatment options for individuals with PAH are critically needed," said Jasbir S. Seehra, Ph.D, Chair and Chief Executive Officer. "We are immensely grateful to the patients, investigators and Keros colleagues for their dedication to seeking new treatment options for this devastating disease."
The Company shared top-line results in a presentation that will be accessible in the Investors section of the Keros website at <a href="https://www.globenewswire.com/Tracker?data=U1AYqKyQqgHf8-ghrdfVnNzLgHU2qrD2StQNdVHk0BV3HYAv0a7ZuCInt0QuAHpuUx9ceJ7ewHiMAd8OIXj0HLu-NGvC5tirmmHdYAfLKvs=">https://ir.kerostx.com</a>. The Company plans to submit more detailed findings from the TROPOS trial at a future medical meeting.
The Company plans to further evaluate the appropriate development strategy for cibotercept, if any, in other indications following the completion of the strategic alternative review process.

Keros Therapeutics Reports Topline Data From TROPOS Trial, Phase 2 Clinical Trial Of Cibotercept In Combination With Background Therapy In PAH Patients

Needham analyst James Ricchiuti maintains nLight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LASR#NASDAQ">LASR</a>) with a Buy and raises the price target from $14 to $18.

Price Target

Analyst Ratings

LASR

Needham Maintains Buy on nLight, Raises Price Target to $18

Guidance

BURL

Burlington Stores Affirms Sees FY2025 Sales $11.273B-$11.4858B

Fiscal 2026 Outlook
Given the current economic uncertainty and the unpredictable impact of tariff developments on the Company's business, the Company has elected not to provide a fiscal 2026 outlook at this time. However, the Company is planning to take actions to partially mitigate the impact of the recent tariff changes, including select price increases at the wholesale and retail levels.

Movado Group Withholds Fiscal 2026 Outlook Amid Tariff Uncertainty, Plans Price Hikes

Benchmark analyst Cody Acree reiterates NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and maintains $190 price target.

Reiteration

NVDA

Benchmark Reiterates Buy on NVIDIA, Maintains $190 Price Target

2025 Outlook
The Company reiterates its 2025 revenue guidance and updates its pre-tax income guidance, inclusive of current tariff rates. Specifically, the Company:
<ul>
<li>Continues to expect total revenues to grow on a mid-single-digit percentage basis</li>
<li>Now expects pre-tax income in the range of $61 million to $67 million</li>
</ul>
In addition, for fiscal 2025, the Company:
<ul>
<li>Continues to expect net new unit growth of at least 50 experience locations through a combination of corporately-managed, partner-operated, and franchised business models</li>
<li>Continues to expect capital expenditures in the range of $20 million to $25 million</li>
<li>Continues to expect depreciation and amortization to approximate $16 million</li>
<li>Now expects the tax rate in the range of 22% to 24%, excluding discrete items</li>
</ul>
The Company's guidance considers various factors, including the current tariff rates, medical and labor cost pressures, increased freight costs, and ongoing inflationary challenges. Additionally, the Company's outlook does not contemplate any further material changes in tariffs, the macroeconomic or geopolitical environment, or relevant foreign currency exchange rates.

Retail Sales

General

Build-A-Bear Workshop Reiterates Its 2025 Revenue Guidance And Updates Its Pre-tax Income Guidance, Inclusive Of Current Tariff Rates

OpenAI&#8216;s ambitious plan to restructure into a $300 billion public-benefit corporation is encountering significant obstacles as state regulators demand independent valuations and major investors clash over equity distribution.
What Happened: Delaware&#8217;s attorney general is hiring an investment bank to independently value the equity OpenAI&#8217;s nonprofit parent will hold in the new for-profit entity, <a href="https://www.wsj.com/tech/ai/openai-profit-value-delaware-ag-bank-ff7b4718">reported</a> The Wall Street Journal, citing sources. 
The artificial intelligence company aims to convert its for-profit subsidiary into a public-benefit corporation valued at $300 billion, matching its most recent funding round valuation.
The restructuring needs approval from attorneys general in Delaware and California. OpenAI must fairly allocate equity to its nonprofit parent while appeasing private investors.
Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), its largest backer, can block the deal and is disputing its equity share. Both sides have hired investment banks for guidance.
Delaware&#8217;s attorney general did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/media/25/05/45664231/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo-jensen-huang-likely-to-be-the-next-multi-trillion-dollar-industry">Tesla&#8217;s Optimus May Be The First Humanoid Robot To Achieve High Volume And Tech Scale, Says Nvidia CEO Jensen Huang: &#8216;&#8230; Likely To Be The Next Multi-Trillion Dollar Industry&#8217;</a>
Why It Matters: OpenAI faces a year-end deadline or risks losing up to $20 billion from SoftBank. It needs the funding to develop new AI models, ship 100 million AI companion devices, and expand global data centers under its Stargate project.
The conversion also faces legal challenges from co-founder Elon Musk, who is attempting to block the <a href="https://www.benzinga.com/markets/25/05/45213089/openai-reverses-course-as-sam-altman-says-nonprofit-will-remain-in-control-amid-elon-musks-lawsuit-and-investor-pushback">restructuring through litigation scheduled for trial next year</a>.
The restructuring marks OpenAI&#8217;s transition from its 2015 nonprofit founding to a for-profit model aimed at attracting investment and achieving profitability. OpenAI plans to reduce <a href="https://www.benzinga.com/25/05/45244190/microsoft-faces-fresh-revenue-hit-as-openai-plans-to-reduce-payouts-by-2030-report">Microsoft&#8217;s revenue share from 20% to 10%</a> by 2030.
Read Also:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45664165/amd-deepens-ai-ecosystem-with-enosemi-acquisition">AMD Deepens AI Ecosystem With Enosemi Acquisition</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Meir Chaimowitz on Shutterstock.com

Legal

Startups

Exclusives

Tech

MSFT

OpenAI's $300 Billion Public-Benefit Shift Faces Scrutiny As Delaware AG Moves To Hire Investment Bank for Independent Valuation: Report

Caleres' Q1 Famous Footwear Segment Net Sales Decreased 6.3%, With Comparable Sales Down 4.6%

Foot Locker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) reported quarterly losses of $(0.07) per share which missed the analyst consensus estimate of $0.14 by 150 percent. This is a 131.82 percent decrease over earnings of $0.22 per share from the same period last year. The company reported quarterly sales of $1.79 billion which missed the analyst consensus estimate of $1.89 billion by 5.23 percent. This is a 4.27 percent decrease over sales of $1.87 billion the same period last year.

Earnings Misses

Foot Locker Q1 Adj. EPS $(0.07) Misses $0.14 Estimate, Sales $1.79B Miss $1.89B Estimate

Materion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTRN#NYSE">MTRN</a>) announced today that it has agreed to purchase manufacturing assets for tantalum solutions in Dangjin City, South Korea, from Konasol, a Korean manufacturer serving the semiconductor and adjacent markets.
This strategic investment expands Materion's global footprint with a facility in Asia to better serve semiconductor customers in that region. The transaction includes a newly constructed, state-of-the-art facility with specialized equipment used to produce fully finished tantalum sputtering targets.
This acquisition strengthens Materion's position as a leading supplier of tantalum targets, increasing capacity to supply high growth critical deposition materials used in leading-edge semiconductor chips, including those used in high-performance computing and artificial intelligence applications.
The transaction is subject to regulatory review and is expected to close within 90 days.&nbsp; &nbsp;

MTRN

Materion Agrees To Purchase Manufacturing Assets For Tantalum Solutions In Dangjin City, South Korea, From Konasol; Terms Undisclosed

Burlington Stores Q1 Comparable Store Sales Flat YoY, Merchandise Inventories Up 15%, Comparable Store Inventories Down 8%

More than 40% of seniors around the country currently rely solely on their monthly Social Security benefits to get by. A new analysis shows which U.S. states have the highest share of seniors depending on Social Security, as well as the average monthly check they receive.
With major cuts to Social Security looming on the horizon, seniors in these ten states are the most vulnerable.
What Happened: Vermont ranks first in the nation, with 90.9% of seniors receiving Social Security benefits and an average monthly check of $1,949.07, according <a href="https://www.retirementliving.com/states-relying-on-social-security">to</a> Retirement Living.
In New Hampshire, 91.6% of seniors receive benefits, and they collect an average of $2,087.54 per month. Massachusetts has 82.8% of its senior population drawing Social Security, with an average payment of $1,979.84.
Washington follows with 90% of seniors receiving benefits and an average monthly check of $2,003.81. In New York, 83.1% of older residents depend on Social Security, with average benefits amounting to $1,922.40.
Delaware has 90.1% of seniors on Social Security and an average check of $2,085.16. In New Jersey, 85% of seniors collect benefits, receiving an average of $2,087.95 every month.
Rhode Island reports that 88.4% of its seniors collect Social Security, with an average check of $1,963.73. Oregon has 92.7% of seniors receiving benefits and an average monthly amount of $1,909.85. In Hawaii, 83.9% of senior residents depend on Social Security and the average payments total $1,895.23.
See Also: <a href="https://www.benzinga.com/25/05/45659590/bernie-sanders-says-trump-just-announced-hes-reduced-drug-prices-by-85-dares-you-to-go-to-the-pharmacy-and-tell-them-trump-sent-you">Bernie Sanders Says, &#8216;Trump Just Announced He&#8217;s Reduced Drug Prices By 85%,&#8217; Dares You To Go To The Pharmacy And &#8216;Tell Them Trump Sent You&#8217;</a>
Why It Matters: Social Security has been a major point of debate after President Donald Trump took office for the second time. Elon Musk has been at the front and center of this debate, calling Social Security a <a href="https://finance.yahoo.com/news/elon-musk-once-again-calls-010040388.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAKg85qxVcLD4UgHpHVqeUS_3Qo_-ZfKOWt--VG5F1RmwDccOXWDehcOPSI23vWQ2TD8j_CP9InVEzNDpmOeNvxiJou5OD8cPxJghcVRML6fMZYpqM9EFAy_0DYTYiM3P3NfFIdn946x35StzPM04-mlXAgotxEhnNzbAXSGylKik">"Ponzi scheme"</a> and <a href="https://www.benzinga.com/personal-finance/25/02/43836529/elon-musks-social-security-warning-a-political-battle-over-billions-in-alleged-fraud">alleging major fraud</a>.  DOGE, the initiative led by him and aimed at reducing federal waste, has repeatedly made <a href="https://www.benzinga.com/government/regulations/25/05/45466451/elizabeth-warren-torches-doges-social-security-fraud-claims-pointing-at-internal-memo-discovery-says-elon-musk-jd-vance-and-trump-are-lying">similar claims</a>, which have been contested by <a href="https://www.benzinga.com/personal-finance/25/05/45606410/social-security-faces-blowback-as-fraud-detection-flags-just-2-claims-while-retirement-backlog-nears-600000">findings that show very few fraudulent payments.</a>
While Musk has <a href="https://www.benzinga.com/25/05/45661836/tesla-stock-gains-215-after-hours-as-elon-musk-ends-doge-government-role">stepped down from his role</a> in the Trump Administration, &nbsp;the program is still at risk of <a href="https://www.benzinga.com/personal-finance/25/04/45098780/social-security-panic-is-premature-experts-say-delaying-claims-still-yields-bigger-checks-despite-2033-trust-fund-clock">funds running dry by 2033</a>, prompting many Americans to <a href="https://www.benzinga.com/personal-finance/25/04/45034325/americans-rush-to-claim-social-security-early-amid-growing-fears-of-cuts-and-agency-instability-under-trump-administration">claim Social Security benefits earlier than planned</a>, even at the risk of collecting smaller monthly checks.
Beneficiaries in these ten states are most vulnerable to changes and cuts to Social Security. Despite a promise from President Donald Trump to impose no taxes on benefits and <a href="https://www.benzinga.com/government/25/04/45064937/donald-trump-threatens-to-veto-any-gop-bill-that-touches-medicaid-or-social-security-if-it-cuts-it-i-would-not-approve">veto any cuts to the program</a> in the GOP reconciliation bill, the bill passed the Senate with provisions requiring &nbsp;<a href="https://www.benzinga.com/news/25/05/45482256/gop-tax-bill-breaks-trumps-social-security-tax-pledge-still-hits-25-million-seniors-while-elon-musks">27 million beneficiaries to still pay some tax</a>.
While the SSA is set to make history next month with <a href="https://www.benzinga.com/news/25/05/45653490/social-security-set-to-make-history-by-crossing-2-000-barrier-for-first-time-but-seniors-still-losin">checks projected to go beyond $2,000 for the first time</a>, experts say it is more an indication of inflation than financial security for beneficiaries.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/health-care/25/05/45616625/trump-advisor-david-sacks-admits-new-bill-cuts-880-billion-from-medicaid-as-speaker-mike-johnson-insists-we-have-not-cut-medicaid-and-trump-says-working-class-wont-lose-health-insurance">Trump Advisor David Sacks Admits New Bill &#8216;Cuts $880 Billion From Medicaid&#8217; As Mike Johnson Insists &#8216;We Have Not Cut Medicaid&#8217; And Trump Says Working Class &#8216;Won&#8217;t Lose Health Insurance&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Politics

Personal Finance

Social Security Is The Main Source Of Income For Retirees In These 10 States: Is Your State On The List?

Caleres Says Given The Uncertainty In The Environment, The Company Is Suspending Guidance

<ul>
<li>Consolidated e-commerce demand (online orders fulfilled from either the Company's warehouses or its stores) increased 0.5%</li>
<li>Commercial and international franchise revenues were a combined $8.8 million and increased 28.3%</li>
</ul>

Build-A-Bear Workshop's Q1 2025 Net Retail Sales Were $119.6M And Increased 10.9%

Kyushu's First-ever LNG Procurement Contract from the U.S.
Energy Transfer LP (NYSE:<a href="https://www.benzinga.com/stock/ET#NYSE">ET</a>) today announced its subsidiary, Energy Transfer LNG Export, LLC (Energy Transfer LNG), has entered into a 20-year LNG Sale and Purchase Agreement (SPA) with Kyushu Electric Power Company, Inc. (Kyushu) related to its Lake Charles LNG project. This follows Energy Transfer's recent announcement of a Heads of Agreement (HOA) with MidOcean Energy for approximately 5.0 million tonnes per annum (mtpa) of LNG production from Lake Charles LNG. Energy Transfer LNG also recently signed a SPA with an international energy company for 1.0 mtpa of LNG and an HOA with a German energy company for 1.0 mtpa of LNG.
Under the SPA with Kyushu, Energy Transfer LNG will supply up to 1.0 mtpa of LNG. The LNG will be supplied on a free-on-board (FOB) basis, and the purchase price will consist of a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark. The obligations of Energy Transfer LNG under the SPA are subject to Energy Transfer LNG taking a positive final investment decision (FID) on the Lake Charles LNG project and satisfying other conditions precedent.

Energy Transfer's Subsidiary, Energy Transfer LNG Enters Into 20-Year LNG Sale And Purchase Agreement With Kyushu Electric Power Related To Lake Charles LNG Project

Needham analyst Quinn Bolton reiterates NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and maintains $160 price target.

Needham Reiterates Buy on NVIDIA, Maintains $160 Price Target

Movado Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOV#NYSE">MOV</a>) reported quarterly earnings of $0.08 per share which missed the analyst consensus estimate of $0.39 by 79.49 percent. This is a 38.46 percent decrease over earnings of $0.13 per share from the same period last year. The company reported quarterly sales of $131.77 million which missed the analyst consensus estimate of $142.11 million by 7.28 percent. This is a 3.59 percent decrease over sales of $136.67 million the same period last year.

Movado Group Q1 Adj. EPS $0.08 Misses $0.39 Estimate, Sales $131.77M Miss $142.11M Estimate

Health Care

Press Releases

Prime Medicine to Participate in Upcoming Investor Conferences

Prime Medicine Reports Third Quarter 2024 Financial Results and Provides Business Updates

Prime Medicine to Present at 43rd Annual J.P. Morgan Healthcare Conference

Kuehn Law Encourages Investors of Prime Medicine, Inc. to Contact Law Firm

Prime Medicine to Present at TD Cowen 45th Annual Health Care Conference

Prime Medicine Reports Full Year 2024 Financial Results and Provides Business Updates

Prime Medicine Unveils Program for the Treatment of Alpha-1 Antitrypsin Deficiency (AATD)

Prime Medicine Reports First Quarter 2025 Financial Results and Provides Business Updates

Prime Medicine Announces Breakthrough Clinical Data Showing Rapid Restoration of DHR Positivity After Single Infusion of PM359, an Investigational Prime Editor for Chronic Granulomatous Disease

Management

Prime Medicine Announces Strategic Restructuring to Focus on Opportunities in Large Genetic Liver Diseases, Cystic Fibrosis, and Partnered Programs Alongside CEO Leadership Transition

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