WILMINGTON, DE — Prelude Therapeutics Incorporated (Nasdaq: PRLD) has shifted its strategic focus toward its oral SMARCA2 degrader, PRT7732, while reporting narrower second-quarter losses and steady progress across its oncology pipeline.
The company is pausing further development of its intravenous SMARCA2 degrader, PRT3789, in favor of advancing PRT7732, now in the seventh dosing cohort (125 mg) of its Phase 1 trial. Early data on pharmacokinetics, pharmacodynamics, safety, and initial clinical activity are expected by the end of 2025.
“From the discovery of first-in-class highly selective SMARCA2 degraders through Phase 1 studies… Prelude demonstrated exemplary execution of our SMARCA2 program to deliver a potentially novel treatment option for patients with aggressive cancers harboring SMARCA4 deletion,” said CEO Kris Vaddi, Ph.D. He added that oral dosing, safety, tolerability, and over 90% target degradation seen with PRT7732 position it as the preferred path forward.
Prelude also continues to advance its oral KAT6A degrader program toward an Investigational New Drug (IND) filing in the first half of 2026, while presenting preclinical data on mutated calreticulin (mCALR)-targeted antibody-drug conjugates and precision ADCs incorporating SMARCA2/4 dual degrader payloads.
As of June 30, 2025, Prelude held $77.3 million in cash, cash equivalents, restricted cash, and marketable securities, projecting a runway into the second quarter of 2026. Second-quarter R&D expenses fell to $25.8 million from $29.5 million a year earlier, while G&A costs declined to $6.4 million from $7.7 million. Net loss narrowed to $31.2 million, or $0.41 per share, compared with $34.7 million, or $0.46 per share, in the prior-year quarter.
Final Phase 1 data on PRT3789 and initial PRT7732 results are both slated for release by year-end, milestones that could define the company’s next steps in targeting hard-to-treat SMARCA4-mutated cancers.
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