Prelude Therapeutics Q2 revenue beats analyst expectations, net loss narrows

Prelude Therapeutics Incorporated

11/08/2026 12:07

Overview
U.S. precision oncology firm's Q2 revenue beat analyst expectations
Q2 net loss narrowed yr/yr due to lower R&D and G&A expenses
Company expects cash runway into Q2 2028 with $155 mln in cash and equivalents

Outlook
Prelude expects to start Phase 1 trial of PRT13722 in HR+ breast cancer in Q4 2026
Company anticipates existing cash will fund operations into Q2 2028
Enrollment continues in Phase 1 study of PRT12396 in PV and MF patients

Result Drivers
LOWER R&D EXPENSES - Co attributed decrease in R&D expense to pause of SMARCA2 clinical trials and workforce reduction in late 2025
LOWER G&A EXPENSES - Co said decrease in G&A expenses was due to reduced stock-based compensation and employee-related costs

Company press release: ID:nGNXc8kJfT

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$5.70 mln
$0 (3 Analysts)
Q2 Loss Per Share
 
$0.14
 
Q2 Net Loss
 
$13.92 mln
 
Q2 Income from Operations
 
-$15.45 mln
 
Q2 Operating Expenses
 
$21.16 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 Incorporated is $8.00, about 65.6% above its August 10 closing price of $4.83

Reuters Recommended Reads
Aug 10 - Biohaven Q2 net loss narrows on lower R&D spend
Aug 10 - Biotech firm Nkarta posts Q2 net loss; cash runway into 2029
Aug 10 - Olema Pharmaceuticals Q2 net loss widens on higher clinical trial spending

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(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.)