Prelude Therapeutics to Raise $85.5M in Public Offering

Prelude Therapeutics Inc. entered into an underwriting agreement to sell 18,018,014 shares of common stock and pre-funded warrants for up to 2,252,252 shares. The offering is expected to generate approximately $85.5 million in net proceeds. The company plans to use these funds for general corporate purposes, including funding research, preclinical and clinical development of its product candidates, and increasing working capital.