Overview

• US precision oncology firm's Q1 net loss narrowed yr/yr as operating expenses declined

• Operating expenses fell, mainly due to lower R&D costs after pausing SMARCA2 trials

• Company extended cash runway into Q2 2028 following $90 mln offering

Outlook

• Company expects to file IND for KAT6A degrader PRT13722 by mid-2026

• Current cash runway expected into second quarter of 2028

Result Drivers

• LOWER R&D EXPENSES - Decrease in R&D costs mainly due to pausing SMARCA2 clinical trials and lower stock-based compensation

• LOWER G&A EXPENSES - Decline in G&A costs driven by reduced stock-based compensation and employee-related expenses

Company press release: ID:nGNXb6Yg7v

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Prelude Therapeutics Inc is $7.00, about 45.8% above its May 11 closing price of $4.80

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