Prelude Therapeutics Advances PRT12396 Trial and Secures Cash Runway to Q2 2028
Prelude Therapeutics initiated enrollment of its Phase 1 trial for PRT12396 in polycythemia vera and myelofibrosis, and plans an IND filing for oral KAT6A degrader PRT13722 by mid-2026 with Phase 1 start in ER+ breast cancer later that year. Cash runway extends into Q2 2028 after a $90M underwritten offering.
1. Q1 Financial Update
Prelude reported a cash runway into the second quarter of 2028 based on preliminary estimates, driven by gross proceeds of $90 million from an underwritten offering. This funding supports ongoing R&D and corporate activities through mid-2028.
2. Pipeline Advancements
Enrollment commenced in a Phase 1 study of PRT12396, a mutant-selective JAK2V617F inhibitor for polycythemia vera and myelofibrosis, while an IND for PRT13722, an oral KAT6A degrader targeting ER+ breast cancer, is expected by mid-2026 with a Phase 1 start planned in the second half of 2026. Preclinical data for PRT13722 and novel degrader payloads have shown enhanced selectivity and efficacy in multiple cancer models.
3. Corporate Developments and Events
Charles Morris, M.D., joined Prelude as Chief Medical Officer, strengthening clinical leadership and trial execution expertise. Management will participate in the Jefferies Global Healthcare Conference on June 3 and the Goldman Sachs Global Healthcare Conference on June 10, 2026.