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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.
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Q2 2025 earnings summary14 Aug, 2025

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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Frequently asked questions

Prelude Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on the development of novel, small molecule therapies targeting key drivers of cancer cell growth and resistance. Leveraging its expertise in cancer biology, medicinal chemistry, and drug development, Prelude Therapeutics is committed to advancing a pipeline of innovative treatments aimed at addressing the complex challenges of cancer treatment. The company is headquartered in Wilmington, Delaware, and its shares are listed on the Nasdaq.

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