Prelude Therapeutics (PRLD) investor relations material

Executive summary

• Continued focus on developing precision oncology therapies, advancing multiple clinical and preclinical programs targeting high unmet needs in cancer treatment.

• Advanced oral SMARCA2 degrader PRT7732 to seventh dosing cohort; preliminary clinical data expected by year end 2025.

• Completed Phase 1 study of PRT3789 IV SMARCA2 degrader and paused program to focus on PRT7732.

• Collaboration with AbCellera on precision ADCs and license agreement with Pathos for PRMT5 inhibitor PRT811.

• Workforce reduced by 11% in Q2 2025 to align resources with ongoing programs, incurring $0.5 million in one-time costs.

Financial highlights

• Net loss of $31.2 million for Q2 2025, compared to $34.7 million in Q2 2024; net loss of $63.3 million for the six months ended June 30, 2025.

• Research and development expenses decreased to $25.8 million in Q2 2025 from $29.5 million in Q2 2024; general and administrative expenses fell to $6.4 million from $7.7 million.

• Cash, cash equivalents, restricted cash, and marketable securities totaled $77.3 million as of June 30, 2025.

• Operating cash outflow was $60.3 million for the six months ended June 30, 2025; investing activities provided $73.7 million, mainly from maturities of marketable securities.

• Accumulated deficit reached $646.9 million as of June 30, 2025.

Outlook and guidance

• Preliminary clinical data for PRT7732 and final Phase 1 data for PRT3789 expected by year end 2025.

• KAT6A degrader IND filing anticipated in first half of 2026.

• Cash and equivalents are not expected to fund operations for the next twelve months absent additional financing, raising substantial doubt about going concern status.

• Plans to seek additional funding through equity, debt, collaborations, or licensing; failure to secure funding may delay or halt development programs.

• No product revenue expected in the foreseeable future; focus remains on advancing clinical pipeline and securing partnerships.