---
title: "Prelude Therapeutics Inc 1Q 2026: Revenue $4.58M, EPS $(0.13) — 10-Q Summary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286088885.md"
description: "Prelude Therapeutics Inc reported Q1 2026 revenue of $4.58M, a significant increase from $0.0 in Q1 2025, driven by an upfront payment from Incyte. The net loss narrowed to $(10.4) M from $(32.1) M YoY, with diluted EPS improving to $(0.13). The company initiated a Phase 1 trial for PRT12396 and executed a $100M exclusive option agreement with Incyte, with potential milestones of up to $775M. Prelude also raised approximately $90M in equity to support operations for the next year."
datetime: "2026-05-12T11:21:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286088885.md)
  - [en](https://longbridge.com/en/news/286088885.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286088885.md)
---

# Prelude Therapeutics Inc 1Q 2026: Revenue $4.58M, EPS $(0.13) — 10-Q Summary

Prelude Therapeutics Inc reported first-quarter 2026 results with revenue of $4.58M and a net loss of $10.4M, an improvement versus the prior-year quarter as the company recognized upfront option-related revenue tied to a partnership with Incyte.

**Financial Highlights**

-   Revenue was $4.58M for Q1 2026, compared with $0.0 for Q1 2025; change +$4.58M YoY (driven by upfront from the Incyte Exclusive Option Agreement).
-   Net income was a loss of $(10.385) M for Q1 2026, compared with a loss of $(32.085) M in Q1 2025; loss narrowed by $21.70M YoY.
-   Diluted EPS was $(0.13) for Q1 2026, versus $(0.42) for Q1 2025, an improvement of $0.29 per share YoY.

**Business Highlights**

-   Clinical progress: IND clearance and initiation of Phase 1 for mutant-selective JAK2V617F inhibitor PRT12396; enrollment is underway.
-   Partnerships: Executed an exclusive option agreement with Incyte for the JAK2 program, including a $100M option payment and potential milestones up to $775M plus royalties; the upfront option payment drove the quarter's revenue.
-   Pipeline: KAT6A degrader PRT13722 is on track for an IND filing mid-2026 and a Phase 1 start in H2 2026; DAC and SMARCA2/4 payload programs have shown preclinical proof-of-concept.
-   Portfolio focus: The company paused its SMARCA2 clinical program in 2025 to reallocate resources toward the JAK2V617F and KAT6A degrader programs.
-   Liquidity: Completed an approximately $90M equity raise after the reporting period to fund operations for at least 12 months.

Original SEC Filing: Prelude Therapeutics Inc \[ PRLD \] - 10-Q - May. 12, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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