Prelude Therapeutics (PRLD) Barclays 27th Annual Global Healthcare Conference summary

Macro environment and regulatory landscape

• Current macroeconomic and policy changes, including tariffs, are not expected to have immediate impact on operations; supply chain risks are being proactively managed.

• COVID-19 highlighted supply chain and FDA inspection challenges, but no recent slowdowns or issues with FDA communications have been observed.

• NIH budget cuts are being monitored; no short-term impact on clinical trials, but long-term effects on fundamental research and talent are a concern.

Pipeline overview and clinical progress

• Lead programs target the SMARCA pathway, with two novel degraders (IV 3789 and oral 7732) in clinical development for cancers with high unmet need.

• 3789 (IV) has shown early and durable responses, especially in esophageal and lung cancers with SMARCA4 mutations; responses deepen over time.

• Dose escalation has not revealed dose-limiting toxicities; recommended phase two dose decision is imminent.

• Combination studies with docetaxel show clean safety profile and preclinical synergy; no increase in dose interruptions at higher doses.

• Next major data update is planned for the second half of 2025 at a medical conference.

Strategic development and future plans

• Both IV and oral degraders will be advanced, with indication selection guided by patient needs and drug properties.

• Internal benchmarks for efficacy are set at 20-30% response rates, significantly above standard of care.

• Antibody degrader platform, developed in partnership with Absci, aims to expand reach and address resistance/toxicity issues; preclinical proof of concept achieved.

• Partnership with Absci is 50/50, with shared responsibilities and economics; additional collaborations are being considered to resource platform expansion.