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]

Core Insights - Prelude Therapeutics reported strong execution in Q1 2025, focusing on the development of SMARCA2 degraders and KAT6A degraders for aggressive cancers [2][3] - The company has completed enrollment for the PRT3789 monotherapy and combination studies, with updated results expected in the second half of 2025 [1][4] - Prelude's financial position includes $103.1 million in cash and equivalents, projected to fund operations into Q2 2026 [1][14] Clinical Program Updates - PRT3789 is a first-in-class intravenous SMARCA2 degrader targeting SMARCA4 mutations, which are found in approximately 10% of non-small cell lung cancers [3][4] - The company has completed dose escalation for PRT3789 and selected a recommended Phase 2 dose of 500 mg once weekly [4] - A Phase 2 trial is underway evaluating PRT3789 in combination with KEYTRUDA® for patients with SMARCA4-mutated cancers [5] Financial Performance - R&D expenses for Q1 2025 increased to $28.8 million from $27.4 million in the prior year, primarily due to SMARCA2 clinical trials [15] - General and administrative expenses decreased to $5.8 million from $6.9 million, attributed to lower stock-based compensation [16][17] - The net loss for Q1 2025 was $32.1 million, consistent with the previous year, with a net loss per share of $0.42 [18][22] Upcoming Milestones - Initial data for the PRT7732 oral SMARCA2 degrader is expected in the second half of 2025, with rapid enrollment in the ongoing Phase 1 trial [1][8] - Prelude is advancing its KAT6A degrader program, with candidate nomination anticipated in Q2 2025 and an IND filing planned for 2026 [9][10] - The company will participate in the Citizens 2025 Life Sciences Conference on May 7, 2025, featuring key executives [12]