02:06 PM EDT, 05/19/2025 (MT Newswires) -- Prime Medicine ( PRME ) plans to lay off 25% of its workforce to cut costs as part of a restructuring and make its chronic granulomatous disease programs a lower priority.

The company on Monday also named a new chief executive officer.

The stock slumped 19% as intraday volume topped 8.4 million shares versus the daily average of almost 1.51 million.

QuantumScape ( QS ) shares fell 17% after as volume topped 28.9 million versus the daily average of almost 10.5 million.

Aeva Technologies ( AEVA ) shares dropped 16% as volume topped 4.1 million versus the daily average of 1.44 million.

Price: 1.29, Change: -0.31, Percent Change: -19.18