Prelude Therapeutics Inc Stock Price, News & Analysis

Prelude Therapeutics (Nasdaq: PRLD) has announced the publication of an abstract for their novel SMARCA2 degrader, PRT3789, to be presented at the ESMO Congress 2024. The presentation will showcase the first clinical data for this highly-selective compound in patients with advanced solid tumors harboring SMARCA4 mutations.

Key points from the abstract include:

• 40 patients enrolled across various cancer types
• No dose-limiting toxicities or drug-related serious adverse events reported
• Dose-dependent decreases in SMARCA2 levels observed
• Clinical activity noted, including partial responses and tumor shrinkage

Prelude will host an investor webcast on September 13, 2024, to discuss the updated data presented at ESMO.

Prelude Therapeutics (NASDAQ: PRLD) reported its Q2 2024 financial results and provided a corporate update. Key highlights include:

• Interim Phase 1 data for PRT3789, a first-in-class IV SMARCA2 degrader, selected for oral presentation at ESMO 2024
• Received FDA IND authorization for PRT7732, a first-in-class oral SMARCA2 degrader
• Announced clinical collaboration with Merck to evaluate PRT3789 with KEYTRUDA in SMARCA4-mutated cancers
• CDK9 inhibitor PRT2527 on track to report interim Phase 1 data in Q4 2024
• Cash runway into 2026 with $179.8 million as of June 30, 2024

Q2 2024 financials: R&D expenses increased to $29.5 million, G&A expenses rose to $7.7 million, and net loss was $34.7 million ($0.46 per share).

Prelude Therapeutics has announced a clinical collaboration with Merck to evaluate the combination of Prelude's PRT3789, a selective SMARCA2 degrader, with Merck's anti-PD-1 therapy, KEYTRUDA, in patients with SMARCA4-mutated cancers. The Phase 2 clinical study aims to explore the potential of this combination to enhance anti-tumor activity due to the complementary mechanisms of the two treatments. Prelude will sponsor the trial, while Merck will supply KEYTRUDA. PRT3789 is in Phase 1 development for SMARCA4 mutant patients, with dose escalation expected to conclude mid-2024. Early pre-clinical data indicated promising anti-tumor immunity and tumor regression when combining SMARCA2 degraders with anti-PD-1 therapies. Both companies retain commercial rights to their respective treatments.

Prelude Therapeutics, a clinical-stage precision oncology company, announced its participation in two notable healthcare conferences this June. CEO Kris Vaddi will engage in a fireside chat at the Jefferies Global Healthcare Conference on June 6th at 1:30 p.m. ET. Additionally, Dr. Vaddi will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 12th at 10:40 a.m. ET. Both events will be webcast live and archived on the company's website for 90 days.

Prelude Therapeutics Incorporated (Nasdaq: PRLD) will participate in the Citizens JMP Life Sciences Conference in New York City on May 13 and 14. The Company's CEO and Chief Medical Officer will engage in a fireside chat, with a live webcast accessible on their website. The event aims to showcase the company's developments in precision oncology.

Prelude Therapeutics Incorporated (Nasdaq: PRLD) reported its financial results for the first quarter of 2024, highlighting progress in clinical development of lead drug candidates, PRT3789 and PRT2527. Operational leadership was strengthened by new hires. The company's cash runway extends into 2026 with $201.9 million in cash, cash equivalents, and marketable securities as of March 31, 2024.