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Prelude Therapeutics Q1 2025 Earnings Report
Prelude Therapeutics reported its financial results for the first quarter ended March 31, 2025, highlighting progress in clinical development and a strong cash position.
Key Takeaways
Prelude Therapeutics reported a net loss of $32.1 million for Q1 2025, consistent with $0.42 EPS, and maintained a cash runway into Q2 2026. The company made significant progress in its SMARCA2 degrader programs, with PRT3789 nearing completion of dose escalation and PRT7732 advancing rapidly in Phase 1. Preclinical data for KAT6A degraders were also presented, with plans to advance these assets.
PRT3789 monotherapy and combination with docetaxel escalation enrollment is complete, with updated results expected in the second half of 2025.
Enrollment in the Phase 1 study of PRT7732, an oral SMARCA2 degrader, is advancing rapidly, with initial data anticipated in the second half of 2025.
The company's cash, cash equivalents, restricted cash, and marketable securities totaled $103.1 million as of March 31, 2025, providing a cash runway into the second quarter of 2026.
Preclinical data for highly selective oral KAT6A degraders were presented, with lead compounds advancing towards candidate nomination in Q2 2025 and an IND filing intent in 2026.
Forward Guidance
Prelude Therapeutics anticipates continued progress in its clinical development programs, with key data readouts and candidate nominations expected in the second half of 2025 and into 2026.
Positive Outlook
- Updated data from the PRT3789 trial expected to be presented at a major medical meeting in the second half of 2025.
- Initial first-in-human data update for PRT7732 anticipated at a major medical meeting in the second half of 2025.
- Optimized lead compounds for KAT6A degraders advancing to candidate nomination in Q2 2025.
- Intent to file an IND for KAT6A degraders in 2026.
- Anticipate nominating the first development candidate from the Precision ADCs program in 2025.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
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