Overview

• Precision oncology firm reported a net loss of $99.5 mln for 2025

• Company received FDA clearance for IND application for PRT12396

• Cash runway expected into Q2 2027 with $106 mln in cash and equivalents

Outlook

• Prelude anticipates Phase 1 study of PRT12396 to start by Q2 2026

• Company plans to file IND for PRT13722 in mid-2026

• Prelude expects cash runway to last until Q2 2027

Result Drivers

• FDA CLEARANCE - Prelude received FDA clearance for IND application for PRT12396, a mutant-selective JAK2V617F inhibitor, marking a key milestone in their strategic focus

• KAT6A PROGRAM - Co is advancing its KAT6A degrader program with plans to file an IND in mid-2026 and initiate Phase 1 study in the second half of 2026

• DEGRADER PAYLOADS - Prelude is developing novel degrader payloads for next-generation DACs, expanding potential partnerships and technological reach

Company press release: ID:nGNXsg6rZ

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Prelude Therapeutics Inc is $4.00, about 29.4% above its March 9 closing price of $3.09

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)