Prelude Therapeutics Q1 net loss narrows as expenses fall

Prelude Therapeutics Incorporated

12/05/2026 12:13

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.13
Q1 Net Income
-$10.39 mln
Q1 Income from Operations
-$14.18 mln
Q1 Operating Expenses
$18.76 mln


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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)