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

Core Insights - Prelude Therapeutics is advancing two promising drug programs targeting significant unmet needs in oncology, specifically the JAK2V617F inhibitor and KAT6A degrader programs [3][4][19] - The company expects to file Investigational New Drug (IND) applications for both programs in 2026, with the JAK2V617F program anticipated in the first quarter and the KAT6A program in mid-2026 [5][8] Pipeline Programs - JAK2V617F Inhibitor Program: This program targets the JAK2V617F mutation, which is prevalent in myeloproliferative neoplasms (MPNs), affecting approximately 95% of polycythemia vera patients, 60% of essential thrombocythemia patients, and 55% of myelofibrosis patients. Prelude has developed novel allosteric inhibitors that selectively target V617F+ cells, showing potential to reduce mutant allele burden and improve treatment outcomes [4][6] - KAT6A Degrader Program: This program focuses on KAT6A, a target in ER+ breast cancer. Prelude is developing first-in-class, highly selective oral KAT6A degraders, which may offer improved efficacy and tolerability compared to non-selective inhibitors. Preclinical data supporting this approach has been presented at relevant conferences [7][8] Financial Overview - As of September 30, 2025, Prelude had cash, cash equivalents, restricted cash, and marketable securities totaling $58.2 million. The company anticipates that this funding will support operations into 2027 [14] - Research and Development (R&D) expenses for Q3 2025 decreased to $21.7 million from $29.5 million in the prior year, while General and Administrative (G&A) expenses also saw a decline to $5.2 million from $7.7 million [15][16] - The net loss for Q3 2025 was reported at $19.7 million, or $0.26 per share, compared to a net loss of $32.3 million, or $0.43 per share, for the same period in 2024 [17][21]