USABiotech & Genomic Medicine▲
Prelude Narrows Q2 Loss on Lower Costs, Plans PRT13722 Phase 1
Prelude Therapeutics reported a narrower second-quarter net loss of $13.92 million, down 55% from $31.23 million a year earlier, driven by increased revenue and reduced R&D spending. Total operating expenses fell to $21.16 million from $32.19 million, with R&D costs down 37% to $16.13 million due to the pausing of SMARCA2 programs and workforce reductions. The company posted revenue of $5.70 million versus none in the prior-year quarter and raised about $90 million in gross proceeds from an April 2026 public offering. Prelude expects to initiate a Phase 1 study of PRT13722, its oral KAT6A degrader for HR+ breast cancer, in the fourth quarter of 2026, while its lead JAK2V617F inhibitor PRT12396 is already in Phase 1 for polycythemia vera and myelofibrosis. Cash and marketable securities totaled $155.16 million as of June 30, 2026, which the company believes funds operations through the second quarter of 2028.