--- title: "Prelude Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 4.58 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286088670.md" datetime: "2026-05-12T11:21:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286088670.md) - [en](https://longbridge.com/en/news/286088670.md) - [zh-HK](https://longbridge.com/zh-HK/news/286088670.md) --- # Prelude Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 4.58 M Revenue: As of FY2026 Q1, the actual value is USD 4.58 M. EPS: As of FY2026 Q1, the actual value is USD -0.13, beating the estimate of USD -0.2525. EBIT: As of FY2026 Q1, the actual value is USD -14.18 M. Prelude Therapeutics Incorporated operates as a single operating segment, focusing on the discovery and development of novel precision cancer medicines . #### Revenue Revenue for the three months ended March 31, 2026, was $4,580 thousand, compared to $0 thousand for the three months ended March 31, 2025, related to the Exclusive Option Agreement with Incyte Corporation . #### Operating Expenses Total operating expenses decreased to $18,757 thousand for the three months ended March 31, 2026, from $34,606 thousand for the same period in 2025 . - **Research and Development (R&D) Expenses** decreased from $28,816 thousand for the three months ended March 31, 2025, to $13,601 thousand for the three months ended March 31, 2026, primarily due to a reduction in expenses related to the SMARCA2 clinical trials . - JAK2 V617F program expenses were $1,412 thousand in 2026, up from $1,175 thousand in 2025 . - KAT6A program expenses were $791 thousand in 2026, up from $506 thousand in 2025 . - Discovery programs expenses decreased to $54 thousand in 2026 from $787 thousand in 2025 . - Other R&D expenses (including paused/discontinued programs like SMARCA2) decreased significantly to $838 thousand in 2026 from $9,901 thousand in 2025 . - General costs, including personnel-related R&D, were $10,506 thousand in 2026, down from $16,447 thousand in 2025 . - Non-cash stock-based compensation included in R&D was $1.1 million in 2026, compared to $2.3 million in 2025 . - **General and Administrative (G&A) Expenses** decreased from $5,790 thousand for the three months ended March 31, 2025, to $5,156 thousand for the three months ended March 31, 2026, mainly driven by a reduction in non-cash stock-based compensation expense . - Non-cash stock-based compensation included in G&A was $0.9 million in 2026, compared to $1.6 million in 2025 . #### Loss from Operations Loss from operations improved to - $14,177 thousand for the three months ended March 31, 2026, from - $34,606 thousand for the same period in 2025 . #### Other Income, Net Other income, net, increased to $3,792 thousand for the three months ended March 31, 2026, from $2,521 thousand for the three months ended March 31, 2025, primarily due to the receipt and recognition of research and development tax credits . #### Net Loss Net loss decreased to - $10,385 thousand for the three months ended March 31, 2026, from - $32,085 thousand for the three months ended March 31, 2025 . #### Accumulated Deficit As of March 31, 2026, Prelude Therapeutics Incorporated had an accumulated deficit of - $693.4 million . #### Liquidity and Capital Resources As of March 31, 2026, cash, cash equivalents, restricted cash, and marketable securities totaled $84.8 million . Subsequent to March 31, 2026, the company completed an offering that resulted in gross proceeds of approximately $90.0 million from the sale of voting common stock and pre-funded warrants, with estimated net proceeds of approximately $85.5 million . #### Cash Flows (Three months ended March 31) - **Net cash used in operating activities** was - $21,685 thousand in 2026, compared to - $34,231 thousand in 2025 . - **Net cash provided by investing activities** was $8,499 thousand in 2026, compared to $62,186 thousand in 2025 . - **Net cash used in financing activities** was - $314 thousand in 2026, compared to - $160 thousand in 2025 . - **Net (decrease) increase in cash, cash equivalents and restricted cash** was - $13,500 thousand in 2026, compared to $27,795 thousand in 2025 . #### Strategic Focus and Outlook Prelude Therapeutics Incorporated is focused on advancing its pipeline, including the JAK2 V617F and KAT6A programs, with an IND clearance for PRT12396 (JAK2 V617F inhibitor) in February 2026 and an anticipated IND filing for PRT13722 (KAT6A program) in mid-2026 . The company believes its current funds, combined with proceeds from a recent April offering, will be sufficient to cover operating expenses and capital expenditure requirements for at least the next twelve months from the filing date . Prelude Therapeutics Incorporated plans to seek additional funding through various means, including equity offerings, debt financings, collaborations, strategic alliances, and licensing arrangements to support its continued operations and growth . ### Related Stocks - [PRLD.US](https://longbridge.com/en/quote/PRLD.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [INTOUCH INSIGHT ANNOUNCES Q1 2026 FINANCIAL RESULTS](https://longbridge.com/en/news/287124506.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md)