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Prelude Therapeutics (PRLD) investor relations material
Prelude Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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.
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