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Prelude Therapeutics

PRLD Rare disease Lead: Phase 1 1 Biotech Distilled article ↓ 20 filings & releases ↓ Cash $26.3M (Jun 30, 2026) ↓ 1 verdict ↓ 1 timing quote ↓
HematologyOncology Small Molecule

Market cap $287M 79.8M shares (10-Q, Aug 6, 2026) × $3.60 close Nov 6, 2026

Most recent annual filing: 2026-03-10

Catalyst timeline

11 trackedQuarter catalyst calendar →
  1. mCALR DAC corporate updateBy year-end 2026mCALR DAC corporate update, By year-end 2026, routine
  2. PRT13722 trial start4Q 2026PRT13722 trial start, 4Q 2026, notable
  3. PRLD corporate updateNov 2026PRLD corporate update, Nov 2026, routine
  4. Incyte JAK2V617F next-gen readoutDec 2026Incyte JAK2V617F next-gen readout, Dec 2026, material
  5. PRT12396 Ph1 interim2027PRT12396 Ph1 interim, 2027, notable
  6. JAK2V617F program Incyte option partnershipFeb 3 – May 3, 2027JAK2V617F program Incyte option partnership, Feb 3 – May 3, 2027, material
  7. PRLD shelf registration financingMay 2027PRLD shelf registration financing, May 2027, routine
  8. Pfizer prifetrastat topline~2H 2027Pfizer prifetrastat topline, ~2H 2027, major
  9. Menarini MEN2312 Ph1 readout~Oct 2027Menarini MEN2312 Ph1 readout, ~Oct 2027, notable
  10. PRLD corporate financing2Q 2028PRLD corporate financing, 2Q 2028, routine
  11. PRT12396 Ph1 readout~Apr 30, 2028PRT12396 Ph1 readout, ~Apr 30, 2028, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (3 active programs)

Technology platforms

DAC · AbCellera Biologics

Degrader Antibody Conjugate platform combining targeted protein degrader payloads (including SMARCA2/4 dual degraders) with antibodies targeting tumor-specific antigens; focus areas include myeloproliferative neoplasms (mutant CALR-expressing cells) and solid tumors with SMARCA4 mutations. In collaboration with AbCellera for up to five programs (joint discovery, development, commercialization); AbCellera also independently developing select DACs under a non-exclusive degrader payload license.

Targets: SMARCA2, SMARCA4, CALR

Degrader Antibody Conjugates · AbCellera

Proprietary degrader payload-linker platform for degrader antibody conjugates (DACs); payloads include SMARCA2/4 dual degraders (VHL- and CRBN-based) and CDK9 degraders; engineered for improved efficacy, tolerability, and developability vs. traditional cytotoxic ADC payloads; applicable across oncology indications including myeloproliferative neoplasms; payloads available for licensing to partners developing next-generation DACs.

Targets: SMARCA2, SMARCA4, CDK9, mCALR

Precision ADC Degrader Payload · AbCellera

Degrader payload platform for antibody-drug conjugates (ADCs), engineering targeted protein degraders (TPDs) as prodrug payloads with high potency and cell-line selectivity, designed for improved efficacy and tolerability over traditional cytotoxic payloads; focus areas include oncology across solid tumors and hematologic cancers

Targets: SMARCA2, SMARCA4

DAC degrader payloads · AbCellera Biologics

Next-generation degrader antibody conjugate (DAC) platform leveraging targeted protein degradation expertise; highly potent SMARCA2/4 and CDK9 degrader payloads optimized for efficacy, tolerability and developability; also developing mutant CALR (mCALR)-targeted DACs for myeloid malignancies including myelofibrosis and essential thrombocythemia

Targets: SMARCA2, SMARCA4, CDK9, mCALR

DAC · AbCellera

Degrader Antibody Conjugate platform combining proprietary SMARCA2/4 dual degrader payloads with tumor antigen-targeting antibodies; focus areas include CALR-mutant myeloproliferative neoplasms and SMARCA4-mutant cancers. Co-developed with AbCellera Biologics for up to five programs.

Targets: SMARCA2, SMARCA4, CALR

Discontinued (3)

Capital (as filed)

Cash
$26.3M cash and cash equivalents · Jun 30, 2026 (10-Q)
Short-term investments
$125M Jun 30, 2026
Operating cash flow
−$15.6M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$155M cash, runway the second quarter of 2028 per the deep dive of Oct 1, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (1)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (1 call)

Every verdict Biotech Distilled has published on Prelude Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-10-02 Watch Prelude Therapeutics (PRLD) - Scientific Deep Dive for PRT13722, PRT12396 and Pipeline Products Pfizer has validated the KAT6 target but Prelude's key differentiator—KAT6A-selective degradation sparing marrow enough to combine with CDK4/6 inhibitors—has no human data, with preclinical evidence relying on racemate and tool-compound data; two dated events (Incyte option decision and first PRT13722 neutrophil counts) are needed before a position is warranted.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (20)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 13, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

4 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)