Financial Performance - Prelude Therapeutics reported a net loss of $34.7 million, or $0.46 per share, for Q2 2024, compared to a net loss of $30.4 million, or $0.54 per share, in the same period last year[12]. - Total operating expenses for Q2 2024 were $37.2 million, up from $32.4 million in the prior year period[16]. - Accumulated deficit increased significantly from $456,390,000 to $522,561,000, reflecting a rise of about 14.5%[19]. - Total stockholders' equity decreased from $237,090,000 to $182,276,000, a decline of approximately 23.1%[19]. Research and Development - Research and Development (R&D) expenses increased to $29.5 million in Q2 2024 from $25.0 million in the prior year period, primarily due to increased chemistry, manufacturing, and controls (CMC) expenses[10]. - The interim Phase 1 data for PRT3789, a first-in-class SMARCA2 degrader, is scheduled for oral presentation at the ESMO Congress on September 13, 2024[6]. - Prelude has received IND authorization for PRT7732, its first-in-class oral SMARCA2 degrader, which is expected to enter Phase 1 clinical development in the second half of 2024[8]. - PRT2527, a selective CDK9 inhibitor, is on track to present interim Phase 1 data in Q4 2024, with ongoing dose escalation in both lymphoid and myeloid malignancies[9]. - The company is collaborating with Merck to evaluate PRT3789 in combination with KEYTRUDA® in patients with SMARCA4-mutated cancers, with a Phase 2 trial anticipated to start in Q4 2024[7]. - The company is advancing its clinical programs with a focus on the SMARCA pathway, aiming to address high unmet medical needs in cancer treatment[2]. Cash and Assets - As of June 30, 2024, the company had $179.8 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into 2026[10]. - Total current assets decreased from $235,589,000 on December 31, 2023, to $182,714,000 on June 30, 2024, a decline of approximately 22.4%[18]. - Cash and cash equivalents increased from $25,291,000 to $27,828,000, representing an increase of about 10.1%[18]. - Marketable securities decreased from $207,644,000 to $152,016,000, a drop of about 26.8%[18]. Liabilities and Equity - Total liabilities rose from $40,575,000 to $42,015,000, an increase of approximately 3.6%[19]. - Accounts payable increased from $4,580,000 to $6,170,000, an increase of approximately 34.7%[18]. - Accrued expenses and other current liabilities decreased from $15,768,000 to $11,426,000, a decline of about 27.5%[18]. - Additional paid-in capital increased from $693,252,000 to $705,122,000, an increase of approximately 1.3%[19]. - Operating lease right-of-use asset slightly decreased from $30,412,000 to $29,574,000, a reduction of about 2.8%[18]. Educational Initiatives - Prelude has launched an educational video series on SMARCA biology and the development of SMARCA2 degraders, available on its website[5].

Interim Phase 1 data for its first-in-class, highly selective IV SMARCA2 degrader, PRT3789, selected for an oral presentation at the European Society for Medical Oncology (ESMO) Congress 2024 in September Received investigational new drug (IND) authorization for PRT7732, its first-in-class oral SMARCA2 degrader, from the U.S. Food and Drug Administration (FDA) Announced clinical collaboration with Merck to evaluate PRT3789 in combination with Merck's anti-PD-1 therapy KEYTRUDA® (pembrolizumab) in patients w ...

Prelude will sponsor the clinical trial and Merck will provide KEYTRUDA. WILMINGTON, Del., July 09, 2024 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (Nasdaq: PRLD) ("Prelude" or the "Company"), a clinical-stage precision oncology company, today announced that it has entered into a clinical trial collaboration and supply agreement (the "Agreement") with Merck (known as MSD outside of the US and Canada). Under the terms of the Agreement, the Phase 2 clinical study will evaluate PRT3789, the Company' ...

On Wednesday, June 12th, at 10:40 a.m. ET, Dr. Vaddi will provide a corporate presentation. The live webcast of the presentation can be accessed here. For more information, visit Prelude's website under Events and Presentations. All webcast recordings will be archived and available on the Company's website for 90 days. About Prelude Therapeutics Prelude Therapeutics is a clinical-stage precision oncology company developing innovative drug candidates targeting critical cancer cell pathways. The Company's div ...

Prelude Therapeutics is a clinical-stage precision oncology company developing innovative drug candidates targeting critical cancer cell pathways. The Company's diverse pipeline is comprised of highly differentiated, potentially best-in-class proprietary small molecule compounds aimed at addressing clinically validated pathways for cancers with selectable underserved patients. Prelude's pipeline includes three candidates currently in clinical development: an IV administered, potent and highly selective SMAR ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39527 PRELUDE THERAPEUTICS INCORPORATED (Exact Name of Registrant as Specified in its Charter) | Delaware | 81-1384762 | | --- | ...

Exhibit 99.1 Prelude Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update First-in-class IV SMARCA2 degrader, PRT3789 and potentially best-in-class CDK9 inhibitor, PRT2527 remain on track to generate initial proof-of-concept data in 2024 New preclinical data presented at AACR 2024 included first characterization of PRT7732, a highly-selective, orally bioavailable SMARCA2 degrader Operational leadership capabilities further strengthened by recent hires Chief Business Office ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39527 PRELUDE THERAPEUTICS INCORPORATED (Exact name of Registrant as specified in its Charter) Delaware 81-1384762 (State or other ju ...

Financial Performance - The company reported a net loss of $88.8 million for the nine months ended September 30, 2023, compared to a net loss of $86.8 million for the same period in 2022, resulting in an accumulated deficit of $423.3 million[86]. - The company reported a net loss of $30.6 million for Q3 2023, compared to a net loss of $30.0 million in Q3 2022, an increase of 2.2%[100]. - Net cash used in operating activities for the nine months ended September 30, 2023, was $83.5 million, compared to $60.8 million for the same period in 2022, an increase of 37.4%[116]. - Total operating expenses for the nine months ended September 30, 2023, were $94.9 million, compared to $90.2 million in the same period of 2022, an increase of 5.5%[104]. Cash and Financing - As of September 30, 2023, the company had $230.5 million in cash, cash equivalents, and marketable securities[89]. - The company generated $111.2 million in net cash from financing activities during the nine months ended September 30, 2023, primarily from the sale of common stock and pre-funded warrants[121]. - The company plans to finance operations through equity sales, debt financing, or collaborations, as it requires substantial additional capital to support ongoing operations[88]. - The company expects to finance operations through equity offerings, debt financings, and collaborations, as it has not yet commercialized any products[115]. Research and Development - The company is focusing resources on its first-in-class SMARCA2 degrader compounds and a selective CDK9 inhibitor, with plans to demonstrate clinical proof-of-concept in 2024[76]. - A Phase 1 multi-dose escalation clinical trial of the SMARCA2 degrader, PRT3789, is ongoing, with initial data expected to be shared in mid-2024[80]. - The CDK9 candidate, PRT2527, has shown high levels of target inhibition and potential for better tolerability compared to existing CDK9 inhibitors, with proof-of-concept data expected in 2024[83]. - The company has received IND clearance for PRT3645, a brain-penetrant CDK4/6 inhibitor, and is currently conducting a Phase 1 trial[85]. - Research and development expenses increased from $22.9 million in Q3 2022 to $26.3 million in Q3 2023, a rise of 15%[99]. - For the nine months ended September 30, 2023, research and development expenses totaled $73.1 million, up from $67.0 million in the same period of 2022, reflecting an increase of 9%[105]. Administrative Expenses - General and administrative expenses decreased from $7.5 million in Q3 2022 to $7.1 million in Q3 2023, a decline of 5.3%[101]. - Other income, net rose significantly from $0.4 million in Q3 2022 to $2.8 million in Q3 2023, an increase of 600%[102]. Company Classification - The company qualifies as an "emerging growth company" and may rely on reduced reporting requirements until it reaches total annual gross revenues of at least $1.235 billion or a market value exceeding $700 million[127]. - The company is classified as a "smaller reporting company" with a market value of stock held by non-affiliates below $700 million and annual revenue under $100 million[129]. - If the company remains a smaller reporting company after ceasing to be an emerging growth company, it can continue to rely on certain disclosure exemptions[129]. - The company is not required to provide quantitative and qualitative disclosures about market risk due to its status as a smaller reporting company[130].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39527 PRELUDE THERAPEUTICS INCORPORATED (Exact Name of Registrant as Specified in its Charter) Delaware 81-1384762 (State or other ...