Prelude Therapeutics Inc
PRLD evidence brief
What we can confirm
- BioSniper Score:
- 9.7 / 10
- Market Cap:
- $365.6M
What it means
What to watch
Prepared research question
What matters most for PRLD—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · PRLD
Prelude Therapeutics Inc (PRLD) is a clinical-stage precision oncology company developing targeted protein degraders and inhibitors for cancer, with a focus on SMARCA2, JAK2V617F, and KAT6A programs.
Key risk: Early-stage pipeline
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$365.6M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Prelude Therapeutics Inc (PRLD) is a clinical-stage precision oncology company developing targeted protein degraders and inhibitors for cancer, with a focus on SMARCA2, JAK2V617F, and KAT6A programs.
- Cash & equivalents of $26.3M as of 2026-06-30 [sec]
- Total revenue of $5.7M and net loss of -$13.9M for the six months ended June 30, 2026 [sec]
- Phase 1 study of PRT12396 (JAK2V617F inhibitor) ongoing in polycythemia vera and myelofibrosis [news · published 2026-08-11]
- Phase 1 study of PRT13722 (KAT6A degrader) expected to initiate in Q4 2026 [news · published 2026-08-11]
- Option agreement with Incyte for JAK2V617F program with potential total payments up to $910M [sec_mda · as of 2026-08-11]
What works
- Multiple clinical-stage programs (PRT3789, PRT2527, PRT7732, PRT12396) with FDA-cleared INDs and ongoing trials [sec_mda · as of 2026-08-11]
- Partnership with Merck to evaluate PRT3789 in combination with KEYTRUDA [pipeline]
- Option agreement with Incyte for JAK2V617F program provides potential milestone payments up to $910M [sec_mda · as of 2026-08-11]
- Cash runway expected into 2027 [news · published 2025-11-12]
What to weigh
- Net loss of $13.9M for the six months ended June 30, 2026 [sec]
- Accumulated losses from inception, primarily from R&D activities [sec_mda · as of 2026-08-11]
- All programs are in early clinical or preclinical stages; no approved products [sec_mda · as of 2026-08-11]
- Cash & equivalents of $26.3M may be limited relative to ongoing R&D costs [sec]
From the filings
Quoted directly from source documents.
Phase 1 study of PRT13722 expected in Q4 2026
“The Company expects to initiate its Phase 1 study of PRT13722, a first-in-class highly-selective oral KAT6A degrader in HR+ breast cancer in the fourth quarter”
News · August 11, 2026
Incyte option agreement potential total payments
“Combined, total potential cash payments from the transaction, excluding royalties, could reach up to $910 million.”
SEC MD&A · August 11, 2026
Catalyst timeline
- 2023-05-02 · Phase 1 Start for PRT3789 (SMARCA2 degrader) as monotherapy and with docetaxel — First patient dosed in Phase 1 study for advanced solid tumors with SMARCA4 mutation.
- 2023-09-12 · Phase 1 Start for PRT2527 (CDK inhibitor) with zanubrutinib or venetoclax — Initiated Phase 1 study in relapsed/refractory hematologic malignancies.
- 2024-11-04 · Phase 1 Start for PRT7732 (SMARCA2 degrader) — Oral SMARCA2 degrader Phase 1 study started for advanced solid tumors with SMARCA4 mutation.
- 2025-06-03 · Phase 2 Start for PRT3789 — Phase 2 study initiated for PRT3789 in advanced solid tumors.
Risks & what to watch (3)›
Key risks
- Early-stage pipeline — All product candidates are in Phase 1 or 2; no approved products, high risk of clinical failure [sec_mda · as of 2026-08-11]
- Cash burn rate — Net loss of $13.9M in six months; cash of $26.3M may fund operations only into 2027 [sec]
- Dependence on partnerships — Key programs rely on collaborations (Merck, Incyte, AbCellera); partner decisions could impact progress [sec_mda · as of 2026-08-11]
What to watch
- Initiation of Phase 1 study for PRT13722 (KAT6A degrader) expected Q4 2026 [news · published 2026-08-11]
- Enrollment progress and data from Phase 1 study of PRT12396 (JAK2V617F inhibitor) [news · published 2026-08-11]
- Incyte's decision to exercise option on JAK2V617F program and subsequent milestones [sec_mda · as of 2026-08-11]
- Cash runway updates; current guidance into 2027 [news · published 2025-11-12]
Sources: Catalysts · News · Pipeline · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.42 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
6 buys · 0 sells (180d)
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
55
Total value held
$103.3M
| Holder | Shares | Value |
|---|---|---|
| orbimed advisors llc | 10,909,256 | $37.3M |
| baker bros. advisors lp | 10,123,824 | $34.6M |
| kynam capital management, lp | 1,592,551 | $5.4M |
| vanguard capital management llc | 1,230,406 | $4.2M |
| ecor1 capital, llc | 947,049 | $3.2M |
| two sigma investments, lp | 923,626 | $3.2M |
| sphera funds management ltd. | 558,339 | $1.9M |
| millennium management llc | 382,737 | $1.3M |
| marshall wace, llp | 358,906 | $1.2M |
| morgan stanley | 322,161 | $1.1M |
Showing top 10 of 55 institutional holders of Prelude Therapeutics Inc. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 15.1%
- Days to cover
- 7.2
- Shares short
- 1,807,780
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
PRLD short interestGovernance
Frequently asked questions
What is the AI investment thesis for Prelude Therapeutics Inc?
Prelude Therapeutics Inc (PRLD) is a clinical-stage precision oncology company developing targeted protein degraders and inhibitors for cancer, with a focus on SMARCA2, JAK2V617F, and KAT6A programs.
Who is the CEO of Prelude Therapeutics Inc?
Dr. Krishna Vaddi D.V.M., Ph.D. is the chief executive officer of Prelude Therapeutics Inc (PRLD).
Where is Prelude Therapeutics Inc headquartered?
Prelude Therapeutics Inc (PRLD) is headquartered in Wilmington, DE, United States.
What therapeutic areas does Prelude Therapeutics Inc focus on?
Prelude Therapeutics Inc develops therapies across Oncology, Hematology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.