Cash Distribution - PermRock Royalty Trust announced a cash distribution of $289,632.56, equating to $0.023807 per Trust Unit, based on production during February 2025[7] - The cash distribution is payable on May 14, 2025, to record holders as of April 30, 2025[7]

Financial Performance - Distributable income for the three months ended March 31, 2025, was $1,466,195, an increase of 30.7% compared to $1,122,502 for the same period in 2024[12] - Distributable income per unit increased to $0.120517 for the three months ended March 31, 2025, up from $0.092268 in 2024, reflecting a growth of approximately 30.6%[12] - Net profits income for the three months ended March 31, 2025, was $1,710,763, compared to $1,296,408 in 2024, marking an increase of approximately 31.9%[12] - For the three months ended March 31, 2025, net profits income received by the Trust was $1,710,763, an increase from $1,296,408 in the same period of the prior year, primarily due to slightly higher gas prices and lower operating expenses[55] - Total gross profits for the three months ended March 31, 2025, were $5,117,329, a decrease from $5,738,920 in the same period in 2024[60] - Net profits for the three months ended March 31, 2025, were $1,818,454, down from $1,970,510 in the same period in 2024[60] Assets and Liabilities - Total assets as of March 31, 2025, were $72,773,860, a decrease from $73,992,200 as of December 31, 2024, representing a decline of approximately 1.6%[10] - The Trust corpus decreased to $71,286,955 as of March 31, 2025, down from $72,379,939 at the end of 2024, indicating a reduction of about 1.5%[10] - The Trust's total liabilities and corpus were equal to total assets at $72,773,860 as of March 31, 2025, maintaining a balanced financial position[10] - As of March 31, 2025, the balance of funds held by T2S to cover future capital expenses was $270,174 net to the Trust[34] - As of March 31, 2025, the Trust had cash reserves totaling $1,000,000 to cover future administrative expenses[74] Revenue and Production - The Trust's revenue and distributions are significantly influenced by the volatile prices of oil and natural gas, which are subject to various external factors[29] - Average oil production for February 2025 was 21,413 barrels, with an average price of $70.27 per barrel[42] - For the three months ended March 31, 2025, oil sales volumes decreased by 4,880 Bbls (6.5%) compared to the same period in 2024, primarily due to a natural decline in production properties and decreased demand[62] - Natural gas sales volumes decreased by 4,780 Mcf (5.7%) for the three months ended March 31, 2025, compared to the same period in 2024, attributed to similar factors as oil[63] - The average realized oil price per Bbl decreased to $69.36 for the three months ended March 31, 2025, down from $73.06 in the same period in 2024[60] - The average realized natural gas price per Mcf increased to $3.19 for the three months ended March 31, 2025, compared to $3.14 in the same period in 2024[65] Cash Distributions - The Trust declared a cash distribution of $0.023807 per Trust unit based on production during February 2025[41] - A cash distribution of $0.023807 per Trust unit was declared on April 17, 2025, based on production during February 2025[76] - The Trust holds 12,165,732 Trust units outstanding, with monthly cash distributions made to unitholders after deducting fees and expenses[35] Capital Expenditure - T2S's estimated capital and workover budget for 2025 is $4.0 million, with approximately $0.1 million expended as of March 31, 2025[54] - T2S's estimated capital expenditure budget for 2025 is $4.0 million, with approximately $0.1 million expended as of March 31, 2025[75] - The majority of capital spent in 2025 to date was on non-operated projects in the Permian Shelf Area[39] Ownership and Management - As of May 12, 2025, Ustx LLC owned 4,884,861 Trust units, representing a significant transfer of ownership from Boaz Energy[24] - The Trustee's annual administrative fee for 2025 is $207,081, which will increase at a rate of 1% per year until the 20th anniversary of the Trust's formation[36] Interest Income - Interest income for the quarter ended March 31, 2025, was $12,540, a decrease of $2,422 compared to the same period in the prior year due to lower interest rates[57] Miscellaneous - No key financial data or performance summary is provided in the documents[91] - No user data or metrics are mentioned in the documents[91] - No future outlook or performance guidance is available in the documents[91] - No information on new products or technology development is included in the documents[91] - No details on market expansion or acquisitions are found in the documents[91] - No new strategies or initiatives are discussed in the documents[91]

Under the Purchase and Sale and Agreement, (a) the Grantors sold and conveyed to the Buyer all of the Grantors' right, title and interest in and to the Underlying Properties (which shall remain burdened by the net profits interest and subject to the Conveyance of Net Profits Interest, dated May 4, 2018, by and among the Grantors, Simmons Bank (as trustee of the Trust, succeeded by Argent Trust Company) and Wilmington Trust, National Association); and (b) Boaz Energy sold and conveyed to Ustx LLC, a Delaware ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 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: 001-38472 PERMROCK ROYALTY TRUST (Exact name of registrant as specified in its charter) Delaware 82-67251 ...

Cash Distribution - PermRock Royalty Trust announced a cash distribution of $489,995.26, equating to $0.040276 per Trust Unit, based on production during November 2024[6] - The cash distribution is payable on February 14, 2025, to record holders as of January 31, 2025[6]

Transaction Overview - Boaz Energy and its affiliate Boaz Royalty entered into a Purchase and Sale Agreement with T2S Permian Acquisition II LLC on January 10, 2025, regarding the sale of the Underlying Properties and 4,884,861 Boaz Trust Units [4] - The Underlying Properties are subject to the Net Profits Interest conveyed to the Trust, which grants the Trust the right to receive 80% of the net profits from oil and natural gas production [4][5] Transaction Details - The Grantors will sell and convey to the Buyer all of Boaz Energy's right, title, and interest in the Underlying Properties, which remain burdened by the Net Profits Interest and subject to the Conveyance [1] - The transaction includes the sale of 4,884,861 Boaz Trust Units representing beneficial interests in the Trust [1] - The Closing is anticipated to occur in March 2025, subject to customary closing conditions being satisfied [2] Post-Transaction Operations - From and after the Closing, the Buyer will own the Underlying Properties and the Boaz Trust Units, and the Buyer (or an affiliate) will become the operator of the Underlying Properties [2] - Boaz Energy will facilitate the transfer of operations of the Underlying Properties from Boaz Energy to the Buyer [3] - Argent Trust Company, as trustee of the Trust, expects to continue the administration of the Trust in the ordinary course of business [3] Company Background - PermRock Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from the Underlying Properties [5]

Cash Distribution - PermRock Royalty Trust announced a cash distribution of $367,645.06, equating to $0.030219 per Trust Unit, based on production in August 2024[3] - The cash distribution is payable to record holders of Trust Units as of October 31, 2024, on November 15, 2024[3]

Core Insights - Prelude Therapeutics announced interim clinical data for PRT2527, a selective CDK9 inhibitor, showing activity in relapsed/refractory lymphoid malignancies, including patients previously treated with CAR-T therapy [1][3] - The company plans to seek a partner for the future development of PRT2527 in hematologic malignancies [1] Clinical Trial Overview - The ongoing open-label, dose-escalation trial involved 46 patients treated and safety evaluable as of September 17, 2024 [2][5] - PRT2527 was well-tolerated across four dosing cohorts for monotherapy and three for combination therapy with zanubrutinib, demonstrating an acceptable safety profile [2][4] Efficacy Results - The overall response rate (ORR) for PRT2527 monotherapy was 17.4%, with complete responses (CRs) in 1 patient and partial responses (PRs) in 3 patients [9] - In the combination cohort, the ORR was 38.5%, with CRs in 3 patients and PRs in 2 patients [10] Safety Profile - The most common treatment-emergent adverse events (TEAEs) included neutropenia (48%) and nausea (33%), with grade ≥3 TEAEs being neutropenia (46%) and anemia (11%) [6] - Dose interruptions due to TEAEs occurred in 17 patients, primarily due to neutropenia, which was managed with growth factor support [7] Future Development Plans - The company intends to focus resources on advancing its SMARCA degrader programs while seeking a partner for the CDK9 program beyond the current Phase 1 study [12] - Prelude Therapeutics is recognized for developing innovative medicines in oncology, with a pipeline that includes novel drug candidates and targeted protein degradation technologies [13]

Cash Distribution - PermRock Royalty Trust announced a cash distribution of $365,300.26, equating to $0.030026 per Trust Unit, payable on October 15, 2024[3] - The cash distribution is based principally on production during July 2024[3]

Core Insights - Prelude Therapeutics announced encouraging interim clinical data for PRT3789, a first-in-class SMARCA2 degrader targeting patients with SMARCA4 mutations, showing objective responses in non-small cell lung cancer (NSCLC) and esophageal cancer [1][5][12] - The drug was well-tolerated with no dose-limiting toxicities reported, and the company is advancing to the 9th dosing cohort in its ongoing Phase 1 trial [3][7][13] Patient Data - As of August 5, 2024, 65 patients were safety evaluable, with 46 patients being efficacy evaluable, all having tumors with SMARCA4 mutations [2][6] - Among 26 advanced NSCLC or esophageal patients evaluable for efficacy, 7 experienced tumor shrinkage, with 3 confirmed partial responses [4][9] Safety Profile - Adverse events reported were mostly mild to moderate, including nausea (24.5%), decreased appetite (18.5%), and fatigue (18.5%), with no serious adverse events related to the study drug [7][3] - A maximum tolerated dose has not yet been identified, and dose escalation continues [3][6] Pharmacokinetics and Pharmacodynamics - Preliminary pharmacokinetic data indicated a dose-dependent increase in exposure, with mean concentrations above the SMARCA2 plasma DC50 for approximately 8 hours at the highest dose [8] - Pharmacodynamic effects showed a 70-75% inhibition of SMARCA2 at higher doses, demonstrating the selectivity of PRT3789 [8] Future Plans - The company aims to confirm the biologically active dose for PRT3789 by year-end and continue studies in combination with docetaxel [5][13] - An investor conference call is scheduled for September 13, 2024, to discuss the findings further [10] Upcoming Presentations - Interim Phase 1 data will be presented at the EORTC-NCI-AACR Symposium on October 24, 2024, highlighting the clinical results of PRT3789 [11] Company Overview - Prelude Therapeutics focuses on developing innovative precision oncology medicines, including first-in-class SMARCA2 degraders, to address high unmet medical needs in cancer treatment [15]