Prelude Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Prelude Therapeutics is advancing its clinical pipeline, focusing on SMARCA2 and KAT6A degrader programs, with significant updates expected by the end of 2025 [1][2][10] Clinical Development Updates - PRT7732, an oral SMARCA2 degrader, is currently enrolling patients in its seventh dosing cohort (125 mg) and is expected to provide preliminary clinical data by the end of 2025 [1][6] - The Phase 1 study of PRT3789, an intravenous SMARCA2 degrader, has been completed, with final data anticipated by the end of 2025; however, further development of PRT3789 has been paused to focus on PRT7732 [2][4] - The KAT6A degrader program is on track to file an IND in the first half of 2026, with preclinical data recently presented [7] Financial Overview - As of June 30, 2025, the company reported cash, cash equivalents, restricted cash, and marketable securities totaling $77.3 million, which is expected to fund operations into the second quarter of 2026 [10] - Research and development expenses for Q2 2025 decreased to $25.8 million from $29.5 million in the prior year, primarily due to reduced expenses related to SMARCA2 clinical trials [11] - General and administrative expenses also decreased to $6.4 million from $7.7 million year-over-year, attributed to lower stock-based compensation [12] Net Loss and Share Performance - The net loss for Q2 2025 was $31.2 million, or $0.41 per share, compared to a net loss of $34.7 million, or $0.46 per share, in the same period of 2024 [13][18]