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Jun 30
Prelude Therapeutics Q2 2025 Earnings Report
Prelude Therapeutics narrowed its net loss in Q2 2025 and reported sufficient cash runway into Q2 2026 as it progressed key oncology programs.
Key Takeaways
Prelude Therapeutics reported a net loss of $31.2M in Q2 2025 and had no revenue for the quarter. R&D and G&A expenses both declined YoY. The company ended the quarter with $77.3M in total cash, cash equivalents, restricted cash, and marketable securities, expected to support operations into Q2 2026.
Net loss of $31.2M or $0.41 per share, an improvement from $34.7M YoY
R&D expenses declined to $25.8M and G&A to $6.4M
Cash runway expected to extend into Q2 2026
Clinical programs PRT7732 and PRT3789 advancing with data updates expected by year-end
Prelude Therapeutics
Prelude Therapeutics
Forward Guidance
Prelude anticipates key clinical milestones from its SMARCA2 and KAT6A programs, with interim data expected for PRT7732 and an IND filing for KAT6A in 1H 2026.
Positive Outlook
- PRT7732 dose escalation trial ongoing; update expected by year-end
- PRT3789 Phase 1 completed; update expected by year-end
- IND filing for KAT6A program on track for 1H 2026
- mCALR-targeted ADCs progressing in preclinical development
- Cash reserves support continued development into Q2 2026
Challenges Ahead
- No revenue generated in Q2 2025
- Net loss remains significant at $31.2M
- Stockholders’ equity declined to $75.8M from $131.5M at year-end
- R&D and G&A expenses still substantial despite decline
- PRT3789 advancement depends on external partnership