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Prelude Therapeutics Reports Full Year 2022 Financial Results and Provides Corporate Update
Four differentiated clinical compounds progressing through Phase 1 towards key data milestones Eight abstracts accepted for presentation at the 2023 American
About this update from Prelude Therapeutics Incorporated
[{"type":"text","content":"Four differentiated clinical compounds progressing through Phase 1 towards key data milestones Eight abstracts accepted for presentation at the 2023 American Association for Cancer Research (AACR) Annual Meeting Cash balance of $201.7 million as of December 31, 2022; runway remains unchanged through Q4 2024 WILMINGTON, Del., March 15, 2023 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (Nasdaq: PRLD), a clinical-stage precision oncology company, today reported its financial results for the fiscal year ended December 31, 2022, and provided a corporate update. “We made considerable progress in 2022, including the filing and acceptance of two new INDs for our next generation CDK4/6 inhibitor and our first-in-class, highly selective SMARCA2 degrader. Our current clinical pipeline consists of four differentiated and internally discovered molecules that effectively target and block key oncogenic pathways in both hematological malignancies and solid tumors. Prelude’s highly productive internal discovery engine continues to deliver novel molecules across multiple therapeutic classes, including significant advances in our research efforts focused on identifying an orally available SMARCA2 degrader,” stated Kris Vaddi, Ph.D., Chief Executive Officer of Prelude. Jane Huang, M.D., President and Chief Medical Officer of Prelude stated, “Prelude's six preclinical and two clinical abstracts accepted for presentation at the upcoming AACR Annual Meeting reflect the productivity and success of our research and development efforts. Initial data from PRT2527 and PRT1419 demonstrate encouraging safety, favorable pharmacokinetic and pharmacodynamic profiles in solid tumors, and support continued advancement in hematological cancers. Looking ahead, our top priority for 2023 is to efficiently advance these compounds forward into proof-of-concept clinical studies and determine appropriate next steps for each program.” “Our recently announced collaboration with BeiGene reflects our commitment to maximize the therapeutic value of combining our highly selective and potent CDK9 inhibitor, PRT2527, with BTK inhibitors in hematologic malignancies,” added Dr. Huang. Program Updates and Upcoming Milestones PRT2527- CDK9 Inhibitor Program PRT2527 is a potent and selective small molecule that has the potential to avoid off target toxicity and achieve highe...