Prelude Therapeutics Inc Stock Price, News & Analysis

Prelude Therapeutics (Nasdaq: PRLD), a clinical-stage precision oncology company, announced the presentation of eight abstracts at the American Association for Cancer Research (AACR) Annual Meeting 2023, occurring from April 14-19 in Orlando, Florida. The research highlights progress in their pipeline, including two clinical abstracts on compounds PRT1419 and PRT2527, which target specific cancer pathways in advanced tumors. Jane Huang, President and CMO, noted the supportive safety and pharmacokinetic profiles for further development in hematological cancers. Additionally, preclinical data on the SMARCA2 degrader program will be presented, alongside favorable data on other candidates such as PRT3645 and PRT3789. This showcases Prelude's commitment to innovative treatment options for cancer patients.

Prelude Therapeutics (Nasdaq: PRLD) reported significant advancements in its clinical pipeline during 2022, highlighting four differentiated compounds in Phase 1 trials. The company aims to present initial data from its PRT2527 and PRT1419 programs at the upcoming AACR Annual Meeting. As of December 31, 2022, Prelude's cash reserves stood at $201.7 million, sufficient to fund operations through Q4 2024. Research and development expenses increased to $92.9 million, while general and administrative costs rose to $30.7 million. The company posted a net loss of $115.4 million for the fiscal year, slightly higher than the previous year.

Prelude Therapeutics (Nasdaq: PRLD) announced a clinical trial collaboration with BeiGene to evaluate its CDK9 inhibitor, PRT2527, alongside BeiGene's BTK inhibitor, zanubrutinib, for treating hematologic malignancies. This collaboration is based on recent evidence showing enhanced efficacy of CDK9 and BTK inhibition in B cell malignancies.

Prelude retains all operational and commercial rights for PRT2527 while BeiGene provides zanubrutinib. PRT2527 is currently undergoing a Phase 1 dose-escalation study for advanced solid tumors and hematologic malignancies, demonstrating potential as a selective and potent treatment option.

Prelude Therapeutics, a clinical-stage precision oncology company, announced its participation in the Barclays Global Healthcare Conference in Miami from March 14 to 16, 2023. On March 16 at 9:30 a.m. ET, CEO Kris Vaddi and CMO Jane Huang will engage in a fireside chat. One-on-one meetings are scheduled for March 15 and 16.

Prelude focuses on developing innovative drug candidates targeting critical cancer pathways, with a pipeline featuring four candidates: PRT1419, PRT2527, PRT3645, and PRT3789.

Prelude Therapeutics announced its participation in three healthcare investment conferences in February 2023. On February 14, CEO Kris Vaddi and CMO Jane Huang will engage in a fireside chat at the SVB Securities Global Biopharma Conference, followed by one-on-one investor meetings. On February 21, executives will participate in the 2023 Wells Fargo Targeted Protein Degradation Summit, with talks focusing on key protein degradation targets in oncology. Prelude is a clinical-stage oncology company with a pipeline of innovative drug candidates, including PRT1419 and PRT3879, aimed at addressing critical cancer pathways.

Prelude Therapeutics announced FDA clearance for two new INDs: PRT3789, a selective SMARCA2 degrader, and PRT3645, a next-gen CDK4/6 inhibitor. The company plans to discontinue the PRMT5 program to focus on high-potential candidates. With cash and equivalents of $224 million, Prelude expects this to fund operations into Q4 2024. For Q3 2022, R&D expenses slightly increased to $22.9 million while G&A expenses decreased to $7.5 million. The net loss was $30 million, or $0.63 per share, compared to a loss of $30.7 million, or $0.66 per share, in the previous year.

Prelude Therapeutics (Nasdaq: PRLD) announced FDA clearance to proceed with a Phase 1 study for PRT3789, a selective SMARCA2 protein degrader targeting advanced solid tumors. The trial will start dosing in Q1 2023 and focus on patients with SMARCA4 mutations, particularly non-small cell lung cancer. Key endpoints include safety, tolerability, and pharmacokinetics. The clearance is seen as a significant advancement for Prelude as it targets an urgent need for therapies for aggressive cancers without other actionable genetic alterations.

Prelude Therapeutics Incorporated (Nasdaq: PRLD) is set to participate in two significant healthcare investment conferences in New York City next week. On September 12, CEO Kris Vaddi will engage in a fireside chat at the H.C. Wainwright 24th Annual Global Investment Conference, with one-on-one meetings on September 13. The following day, Vaddi and CMO Dr. Jane Huang will participate in a chat at the Morgan Stanley Global Healthcare Conference, along with additional investor meetings. Prelude is focused on developing innovative oncology drug candidates targeting critical cancer pathways.

Prelude Therapeutics announced the acceptance of its Investigational New Drug (IND) application for PRT3645, a novel brain-penetrant CDK4/6 inhibitor, by the FDA. The Phase 1 trial is set to commence in Q4 2022, targeting various cancers. As of June 30, 2022, the company reported strong cash reserves of $246.3 million, sufficient to fund operations into the second half of 2024. R&D expenses decreased to $21.3 million, while G&A expenses rose to $8.2 million, resulting in a net loss of $27.4 million for Q2 2022. Upcoming milestones include updates on the PRMT5 and MCL1 inhibitor programs.