Quarterly ResultMay 12, 2026, 07:03 AM
Prelude Therapeutics Q1 Net Loss $10.4M; Cash Runway into Q2 2028
AI Summary
Prelude Therapeutics reported a net loss of $10.4 million for Q1 2026, a substantial improvement from $32.1 million in Q1 2025, with revenue reaching $4.580 million. The company successfully extended its cash runway into the second quarter of 2028, bolstered by a recent $90 million underwritten offering. Significant pipeline progress includes the initiation of a Phase 1 study for PRT12396 and plans to file an IND for PRT13722 by mid-2026, alongside the appointment of a new Chief Medical Officer.
Key Highlights
- Q1 2026 net loss was $10.4 million, a significant reduction from $32.1 million in Q1 2025.
- Q1 2026 revenue was $4.580 million, compared to $0 in the prior year period.
- R&D expenses decreased to $13.6 million in Q1 2026 from $28.8 million in Q1 2025.
- Cash runway extended into Q2 2028, supported by a $90 million underwritten offering.
- Initiated Phase 1 study enrollment for PRT12396 in polycythemia vera and myelofibrosis patients.
- On track to file IND for PRT13722 by mid-2026, with Phase 1 study in 2H 2026.
- Appointed Charles Morris, M.D. as Chief Medical Officer in April 2026.