WILMINGTON, DE — Prelude Therapeutics Incorporated (Nasdaq: PRLD), a precision oncology company, has shared its third-quarter 2024 financial results alongside significant updates on its clinical pipeline. The company continues to make strides in developing treatments for cancer patients, with promising advancements in its SMARCA2-based therapies.
A major highlight from the quarter was the interim data from the Phase 1 study of PRT3789, an intravenous SMARCA2 degrader. This study has shown clinical proof of concept, particularly in treating aggressive SMARCA4-mutated cancers such as non-small cell lung cancer (NSCLC) and esophageal cancers. The drug demonstrated a favorable safety profile, with no overlapping toxicities in combination studies with docetaxel.
The company also launched a Phase 1 trial for PRT7732, an oral SMARCA2 degrader, targeting SMARCA4 mutations. Prelude’s efforts to advance these two distinct SMARCA2 therapies underline its leadership in this new therapeutic class.
In addition to clinical developments, Prelude unveiled preclinical data from its Precision ADC platform. This platform features potent SMARCA2/4 degraders as payloads, which have shown effectiveness in preclinical models against various cancers.
Prelude has also collaborated with Pfizer Ignite to support its SMARCA2 degrader programs, benefiting from Pfizer’s extensive resources and expertise while retaining full ownership rights.
Financially, Prelude reported $153.6 million in cash, supporting operations into 2026. R&D expenses rose to $29.5 million for the quarter, driven by increased costs in chemistry and manufacturing. General administrative expenses saw a slight increase to $7.9 million. Overall, the net loss for the third quarter was $32.3 million, or $0.43 per share.
As Prelude continues to advance its clinical programs, it remains focused on delivering innovative cancer therapies. Upcoming data presentations, including those on the CDK9 inhibitor PRT2527, are eagerly anticipated and will be shared at the American Society of Hematology Annual Meeting.
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