New CMO joins Prelude Therapeutics (NASDAQ: PRLD) as pipeline advances
Rhea-AI Filing Summary
Prelude Therapeutics Incorporated appointed Dr. Charles Morris as Executive Vice President and Chief Medical Officer, effective April 20, 2026. He brings over 30 years of oncology drug development experience, including prior CMO roles at Lava Therapeutics, Celyad Oncology, Radius Health, ImmunoGen and Allos Therapeutics.
Under his employment agreement, Dr. Morris will receive a $535,000 initial annual base salary, a discretionary target bonus up to 40% of base salary, and an option to purchase 450,000 shares of common stock vesting over four years. If his employment is terminated without Cause or he resigns for Good Reason, he is eligible for nine months of salary and healthcare premiums, increasing to 12 months of salary and healthcare, 100% of his target bonus, and full vesting of equity awards if such termination occurs within 12 months after a Change in Control.
The company describes itself as a clinical-stage precision oncology firm with programs in KAT6A degraders and JAK2V617F mutant-selective inhibitors, aiming to move two lead programs into clinical development in 2026.
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8-K Event Classification
Key Figures
Key Terms
Change in Control financial
Good Reason financial
KAT6A degraders technical
JAK2V617F mutant selective inhibitors technical
degrader antibody conjugates (DACs) technical
precision oncology medical
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(c)
On April 15, 2026 Prelude Therapeutics Incorporated, (the “Company”) announced that the Board of Directors of the Company (the “Board”) appointed Charles Q. Morris, M.D., age 61, as the Chief Medical Officer of the Company, effective on April 20, 2026 (the “Appointment Date”).
Prior to joining the Company, Dr. Morris served as Chief Medical Officer at Lava Therapeutics N.V. from February 2023 until its acquisition by XOMA Royalty in October 2025. Previously, he was Chief Medical Officer at Celyad Oncology from April 2021 to January 2023 and Radius Health from September 2018 to December 2020. Dr. Morris received his Degrees of Bachelor of Medicine and Bachelor of Surgery from Sheffield University Medical School, a Bachelor of Medical Science in Clinical Pharmacology and Therapeutics from Sheffield University Medical School, and is a Member of the Royal College of Physicians of London.
In connection with Dr. Morris’ appointment as Chief Medical Officer, the Compensation Committee of the Board approved the Company’s entry into an employment agreement (the “Employment Agreement”) with Dr. Morris, which includes the following terms: (i) an initial annual base salary of $535,000 per year (the “Initial Base Salary”), (ii) an annual discretionary bonus of up to 40% of the Initial Base Salary (the “Target Bonus”), (iii) an option to purchase up to 450,000 shares of Company’s common stock (the “Option Award”) under the 2020 Equity Incentive Plan with 1/4th of the shares underlying the Option Award vesting and becoming exercisable on the one-year anniversary of the Appointment Date, and 1/48th of the shares underlying the Option Award vesting and becoming exercisable on a monthly basis thereafter. Additionally, in the event Dr. Morris experiences a termination of his employment without “Cause” or he resigns for “Good Reason” (each as defined in the Employment Agreement), provided that he executes and makes effective a release of claims against the Company and its affiliates, Dr. Morris will become entitled to (i) continued base salary for nine months, payable in accordance with the Company’s standard payroll practices and (ii) premium payments for continued healthcare coverage for up to nine months. In the event Dr. Morris experiences a termination without “Cause” or he resigns for “Good Reason” during the 12-month period following a "Change in Control", then in lieu of the foregoing, Dr. Morris would become entitled to (i) continued base salary for 12 months, payable in accordance with the Company’s standard payroll practices; (ii) 100% of his annual Target Bonus; (iii) premium payments for continued healthcare coverage for up to 12 months; and (iv) 100% accelerated vesting his then-outstanding equity awards.
The foregoing summary of the Employment Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Employment Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending March 31, 2026.
The Company expects to enter into its standard form of indemnification agreement for directors and executive officers with Dr. Morris. The form of the indemnification agreement was previously filed by the Company as Exhibit 10.1 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on September 4, 2020 and incorporated by reference herein.
There are no arrangements or understandings between Dr. Morris and any other persons, pursuant to which he was appointed as Chief Medical Officer, no family relationships among any of the Company’s directors or executive officers and Dr. Morris and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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99.1 |
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Press Release dated April 15, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PRELUDE THERAPEUTICS INCORPORATED
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Date: April 15, 2026 |
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/s/ Bryant Lim |
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Bryant Lim |
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Chief Financial Officer and Chief Legal Officer |
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Exhibit 99.1 |
Prelude Therapeutics Announces the Appointment of Charles Morris, M.D. as Chief Medical Officer
WILMINGTON, Del., Apr. 15, 2026 (GLOBE NEWSWIRE) – Prelude Therapeutics Incorporated (Nasdaq: PRLD) (“Prelude Therapeutics” or the “Company”), a clinical-stage precision oncology company, today announced that Dr. Charles Morris will join the Company as Chief Medical Officer effective, April 20, 2026.
“We are thrilled to welcome Dr. Charles Morris to Prelude Therapeutics as Executive Vice President and Chief Medical Officer.” stated Kris Vaddi, Chief Executive Officer of Prelude Therapeutics. “With our two lead programs targeting myeloproliferative neoplasms and ER+ breast cancer advancing expected to enter into clinical development in 2026, Dr. Morris’s deep clinical experience, track record of developing successful oncology medicines and proven leadership will be instrumental in ensuring we execute these programs with both rigor and strategic insight.”
“I am excited to join Prelude Therapeutics at this important point in its evolution to help advance its innovative pipeline of novel cancer therapeutics,” stated Charles Morris, MCChB, MRCP, Chief Medical Officer of Prelude Therapeutics. “With the strong science and thorough understanding of the unmet needs that have driven these programs, I see a real opportunity to make an important difference for patients.”
Dr. Morris is a medical oncologist with over 30 years of oncology drug development experience working with global biotech and pharmaceutical companies and managing multiple drug approvals. Most recently, he served as Chief Medical Officer at Lava Therapeutics. Prior to Lava Therapeutics, Dr. Morris served as Chief Medical Officer for Celyad Oncology, Radius Health, where he contributed to the development of ONSERDU (elacestrant) for breast cancer ImmunoGen – advancing ELAHERE (mirvetuximab soravtansine) for ovarian cancer and Allos Therapeutics, where he contributed to all phases of development for solid and hematological tumor indications. He began his career at AstraZeneca and held roles of increasing responsibility including global medical lead for Faslodex® (fulvestrant) which he helped manage through its approval for HR+/HER2- advanced breast cancer.
Dr. Morris holds his medical degree and Bachelor of Medical Science in Clinical Pharmacology and Therapeutics from Sheffield University Medical School in the United Kingdom and is a Member of the Royal College of Physicians of London.
About Prelude Therapeutics
Prelude Therapeutics is a leading clinical-stage precision oncology company developing innovative medicines in areas of high unmet need for cancer patients. Its pipeline features highly
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Exhibit 99.1 |
selective KAT6A degraders and JAK2V617F mutant selective inhibitors -- new approaches to clinically validated targets with transformative potential for patients. Prelude Therapeutics is leveraging its expertise in targeted protein degradation to create and develop next generation degrader antibody conjugates (DACs) with novel payloads. Prelude Therapeutics is on a mission to extend the promise of precision medicine to every cancer patient in need. For more information, visit www.preludetx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated discovery, preclinical and clinical development activities for Prelude’s product candidates, the potential safety, efficacy, benefits and addressable market for Prelude’s product candidates, the expected timeline for clinical trial results for Prelude’s product candidates, and the expected timeline for entering into clinical development for its two lead programs. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “continue,” “will,” “schedule,” and “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on the Company’s current expectations and projections about future events and various assumptions. Although Prelude believes that the expectations reflected in such forward-looking statements are reasonable, Prelude cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause Prelude's actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to Prelude's ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, clinical trial sites and our ability to enroll eligible patients, supply chain and manufacturing facilities, Prelude’s ability to maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical and clinical trials, Prelude's ability to fund development activities and achieve development goals, Prelude's ability to protect intellectual property, and other risks and uncertainties described under the heading "Risk Factors" in Prelude’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Reports on Form 10-Q and other documents that Prelude files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and Prelude undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
Investor Contact:
Robert A. Doody, Jr.
Senior Vice President, Investor Relations
Prelude Therapeutics Incorporated
484.639.7235
rdoody@preludetx.com