WILMINGTON, DE — Prelude Therapeutics Incorporated (Nasdaq: PRLD) has released its 2024 financial results and provided an update on its clinical pipeline, underscoring significant progress in its precision oncology programs. The company’s advancements in SMARCA2 degrader therapies and other innovative treatments reflect its ongoing commitment to addressing high-unmet needs in cancer care.
Clinical Pipeline Updates
Prelude’s selective SMARCA2 degrader programs remain central to its pipeline development, with key progress reported in 2024.
- PRT3789, a first-in-class intravenous SMARCA2 degrader, demonstrated encouraging results during Phase 1 trials targeting SMARCA4-deficient cancers, including non-small cell lung (NSCLC), gastric, and esophageal cancers. Interim trial data revealed partial responses in several patients and a generally well-tolerated safety profile. Monotherapy dose escalation is nearing completion, and further results from combination therapy with docetaxel are expected later in 2025. Additionally, Phase 2 trials examining PRT3789 in combination with pembrolizumab are also underway.
- PRT7732, an oral SMARCA2 degrader, advanced to the enrollment stage of its Phase 1 trial for SMARCA4-mutated cancers. Preliminary data for this program is planned for release in the second half of 2025.
- Prelude’s Precision ADC platform showcased preclinical potential. Utilizing SMARCA2/4 degrader payloads linked to targeted antibodies, the platform demonstrated improved tumor regression in prostate cancer models compared to traditional therapies.
- PRT2527, a highly selective CDK9 inhibitor, showed activity in relapsed or refractory lymphoid malignancies during its Phase 1 trial. However, the company has announced plans to seek a development partner for this program, allowing greater focus on its priority SMARCA2 degrader initiatives.
Financial Performance
Prelude Therapeutics remains financially positioned to continue advancing its innovative programs. The company reported $133.6 million in cash, cash equivalents, and marketable securities as of December 31, 2024, providing operating runway into the second quarter of 2026.
Research and development expenses rose to $118 million in 2024, reflecting increased clinical trial activity and associated costs, particularly in advancing SMARCA2 degrader programs. Meanwhile, general and administrative expenses slightly decreased to $28.7 million, primarily driven by reduced stock-based compensation expenses. Overall, the company reported a net loss of $127.2 million for 2024, compared to $121.8 million in the prior year.
Leadership Developments
Prelude further strengthened its leadership structure by appointing Bryant D. Lim as the company’s permanent Chief Financial Officer. His promotion from Interim CFO solidifies the executive team’s focus on navigating the company’s strategic goals in precision oncology.
Outlook
Looking ahead, Prelude plans to share additional clinical data throughout 2025, with key updates expected from its SMARCA2 degrader programs and emerging discovery initiatives. With financial stability and a robust pipeline of potential first-in-class therapies, the company is positioned to make meaningful strides in delivering precision medicines for patients with aggressive and treatment-resistant cancers.
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