Prelude Therapeutics Incorporated - PRLD STOCK NEWS

Prelude Therapeutics announced FDA clearance for two new INDs: PRT3789, a selective SMARCA2 degrader, and PRT3645, a next-gen CDK4/6 inhibitor. The company plans to discontinue the PRMT5 program to focus on high-potential candidates. With cash and equivalents of $224 million, Prelude expects this to fund operations into Q4 2024. For Q3 2022, R&D expenses slightly increased to $22.9 million while G&A expenses decreased to $7.5 million. The net loss was $30 million, or $0.63 per share, compared to a loss of $30.7 million, or $0.66 per share, in the previous year.

Prelude Therapeutics (Nasdaq: PRLD) announced FDA clearance to proceed with a Phase 1 study for PRT3789, a selective SMARCA2 protein degrader targeting advanced solid tumors. The trial will start dosing in Q1 2023 and focus on patients with SMARCA4 mutations, particularly non-small cell lung cancer. Key endpoints include safety, tolerability, and pharmacokinetics. The clearance is seen as a significant advancement for Prelude as it targets an urgent need for therapies for aggressive cancers without other actionable genetic alterations.

Prelude Therapeutics Incorporated (Nasdaq: PRLD) is set to participate in two significant healthcare investment conferences in New York City next week. On September 12, CEO Kris Vaddi will engage in a fireside chat at the H.C. Wainwright 24th Annual Global Investment Conference, with one-on-one meetings on September 13. The following day, Vaddi and CMO Dr. Jane Huang will participate in a chat at the Morgan Stanley Global Healthcare Conference, along with additional investor meetings. Prelude is focused on developing innovative oncology drug candidates targeting critical cancer pathways.

Prelude Therapeutics announced the acceptance of its Investigational New Drug (IND) application for PRT3645, a novel brain-penetrant CDK4/6 inhibitor, by the FDA. The Phase 1 trial is set to commence in Q4 2022, targeting various cancers. As of June 30, 2022, the company reported strong cash reserves of $246.3 million, sufficient to fund operations into the second half of 2024. R&D expenses decreased to $21.3 million, while G&A expenses rose to $8.2 million, resulting in a net loss of $27.4 million for Q2 2022. Upcoming milestones include updates on the PRMT5 and MCL1 inhibitor programs.

Prelude Therapeutics reported a strong cash position of $266.2 million as of March 31, 2022, expected to fund operations into 2H2024. The company provided updates on its clinical pipeline, including the PRMT5 program, MCL1 inhibitor PRT1419, and CDK9 inhibitor PRT2527, all on track for significant milestones in 2H2022. Research and Development expenses rose to $22.8 million, while General and Administrative expenses increased to $7.5 million. The net loss for the quarter was $29.5 million, or $0.63 per share, reflecting higher operational costs.

Prelude Therapeutics (Nasdaq: PRLD) reported significant progress in 2021, expanding its pipeline to six internally discovered small molecule compounds targeting cancer pathways. The company aims to demonstrate proof-of-concept data for these compounds in 2022. With cash reserves of $291.2 million, Prelude anticipates funding operations into the second half of 2024. However, R&D expenses rose to $86.8 million, and net losses increased to $111.7 million, or $2.43 per share. Strategic prioritization includes focusing on lead candidate PRT811 in the PRMT5 program.

Prelude Therapeutics (Nasdaq: PRLD), a precision oncology company, announced that CEO Kris Vaddi, PhD, will participate in a fireside chat at the Barclays 2022 Global Healthcare Conference in Miami, FL, on March 17, 2022, at 9:00 a.m. ET. A live webcast will be available on the company's website under the 'Investors' page. Prelude Therapeutics is focused on developing innovative drug candidates targeting critical cancer cell pathways, with a diverse pipeline including four clinical candidates and two preclinical ones aimed at addressing underserved cancer patients.

Prelude Therapeutics Inc. (Nasdaq: PRLD) has announced strategic advancements in its oncology pipeline, highlighting a focus on lead programs targeting PRMT5 and MCL1. The company introduced PRT3645, a brain penetrant CDK4/6 inhibitor, with an IND submission planned for mid-2022. Additionally, it aims to establish a recommended Phase 2 dose for PRT2527, a selective CDK9 inhibitor, by 2H/2022. Notably, Prelude is progressing a first-in-class SMARCA2/BRM degrader, with an IND submission expected by year-end 2022. Data from these programs will be showcased at the AACR Annual Meeting in April 2022.

Prelude Therapeutics (Nasdaq: PRLD) announced the appointment of Dr. Jane Huang as President and Chief Medical Officer, effective April 4, 2022. Dr. Huang brings extensive experience in oncology drug development, previously serving as Chief Medical Officer at BeiGene. CEO Kris Vaddi highlighted her strategic leadership as crucial for advancing Prelude’s precision oncology pipeline, which focuses on underserved cancers. Prelude is developing several promising drug candidates, including PRT543, PRT811, PRT1419, and PRT2527, targeting critical cancer cell pathways.