WILMINGTON, DE — Prelude Therapeutics Incorporated (Nasdaq: PRLD) released its first-quarter financial results, showcasing operational progress and updates across its clinical pipeline.
“The first quarter of 2025 represented another strong period of execution across our organization,” said Kris Vaddi, Ph.D., Chief Executive Officer of Prelude. “We are advancing our SMARCA2 degraders and making progress in identifying the best path forward for targeting aggressive SMARCA4-mutated cancers. Additionally, the preclinical data on our selective KAT6A degraders underscores their potential to improve outcomes for cancer patients.”
Clinical Highlights
PRT3789 – SMARCA2 Degrader
PRT3789, a first-in-class intravenous SMARCA2 degrader, is in Phase 1 development for patients with SMARCA4-mutated cancers. Prelude has completed dose escalation studies, selecting 500 mg weekly as the recommended Phase 2 dose, and is enrolling patients in a Phase 2 trial in combination with KEYTRUDA®. Updated data from this program is expected in the second half of 2025.
PRT7732 – Oral SMARCA2 Degrader
PRT7732, an orally bioavailable SMARCA2 degrader, is in Phase 1 dose escalation trials. Enrollment is progressing, with initial data anticipated later in 2025.
KAT6A Oral Degrader Program
Prelude’s selective KAT6A degraders, designed to enhance efficacy and tolerability, are advancing toward candidate nomination by mid-2025, with plans to file an investigational new drug (IND) application in 2026.
SMARCA2/4 Dual Degrader ADC Program
The company’s development of antibody-drug conjugates (ADCs) with SMARCA2/4 dual degrader payloads has shown promising preclinical results, with a development candidate expected to be nominated this year in collaboration with AbCellera.
Financial Overview
Prelude reported R&D expenses of $28.8 million for Q1 2025, reflecting increased investment in SMARCA2 trials. G&A expenses decreased to $5.8 million, with net loss reported at $32.1 million, or $0.42 per share. The company’s cash and marketable securities totaled $103.1 million as of March 31, 2025, sufficient to fund operations into the second quarter of 2026.
Through strategic execution across its programs, Prelude Therapeutics continues to position itself at the forefront of precision oncology, addressing areas of high unmet medical need.
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