--- title: "Prelude Therapeutics Launches Phase 1 Trial and Extends Runway" type: "News" locale: "en" url: "https://longbridge.com/en/news/286096254.md" description: "Prelude Therapeutics has launched a Phase 1 trial for its JAK2V617F inhibitor, PRT12396, after receiving U.S. regulatory clearance. The company reported $84.8 million in cash as of March 31, 2026, and raised $90 million in an offering, extending its cash runway to Q2 2028. Prelude also appointed Charles Morris as chief medical officer and is actively engaging with investors. Analysts rate PRLD stock as a Buy with a $9.00 target, though concerns about financial performance persist. Prelude focuses on developing innovative cancer therapies targeting unmet medical needs." datetime: "2026-05-12T12:04:26.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286096254.md) - [en](https://longbridge.com/en/news/286096254.md) - [zh-HK](https://longbridge.com/zh-HK/news/286096254.md) --- # Prelude Therapeutics Launches Phase 1 Trial and Extends Runway ### Claim 55% Off TipRanks - Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions - Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Prelude Therapeutics ( (PRLD) ) has shared an announcement. Prelude Therapeutics reported first-quarter 2026 results on May 12, 2026, highlighting the start of a Phase 1 trial for PRT12396, its mutant-selective JAK2V617F inhibitor for polycythemia vera and myelofibrosis, following U.S. regulatory clearance earlier in the year. The company also advanced its KAT6A degrader program with preclinical data presented at AACR 2026 and preparation of an IND for PRT13722 in ER+ breast cancer, while progressing its mCALR DAC discovery efforts and expanding its degrader payload platform for next-generation DAC partnerships. Financially, Prelude ended March 31, 2026 with $84.8 million in cash and securities and subsequently raised about $90 million in an underwritten offering, extending its estimated cash runway into the second quarter of 2028 as it reduces R&D and G&A expenses and narrows net loss. The company also strengthened its leadership by appointing Charles Morris as chief medical officer in April 2026 and signaled ongoing investor engagement through participation in major healthcare conferences. The most recent analyst rating on (PRLD) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Prelude Therapeutics stock, see the PRLD Stock Forecast page. **Spark’s Take on PRLD Stock** According to Spark, TipRanks’ AI Analyst, PRLD is a Neutral. The score is held back primarily by weak financial performance (large losses, ongoing cash burn, and balance-sheet erosion) and limited valuation support due to negative earnings. Offsetting factors include constructive technical momentum and positive corporate milestones (runway extension, IND clearance, and encouraging preclinical updates), which improve near-term outlook but do not eliminate funding and execution risk. To see Spark’s full report on PRLD stock, click here. **More about Prelude Therapeutics** Prelude Therapeutics is a clinical-stage precision oncology company developing innovative cancer medicines targeting areas of high unmet medical need. Its pipeline centers on highly selective KAT6A degraders and JAK2V617F mutant-selective inhibitors, as well as next-generation degrader antibody conjugates that leverage targeted protein degradation to improve efficacy and tolerability for cancer patients. The company focuses on translating these novel mechanisms into therapies for indications such as ER+ breast cancer and myeloproliferative neoplasms, working both independently and through partnerships, including an exclusive option agreement on its JAK2V617F program and collaborations to license degrader payloads for next-generation DAC platforms. **Average Trading Volume:** 390,380 **Technical Sentiment Signal:** Buy **Current Market Cap:** $306.2M ### Related Stocks - [PRLD.US](https://longbridge.com/en/quote/PRLD.US.md) - [SBIO.US](https://longbridge.com/en/quote/SBIO.US.md) - [BIB.US](https://longbridge.com/en/quote/BIB.US.md) - [ARKG.US](https://longbridge.com/en/quote/ARKG.US.md) - [PBE.US](https://longbridge.com/en/quote/PBE.US.md) - [IXJ.US](https://longbridge.com/en/quote/IXJ.US.md) - [LABU.US](https://longbridge.com/en/quote/LABU.US.md) - [XBI.US](https://longbridge.com/en/quote/XBI.US.md) - [IHE.US](https://longbridge.com/en/quote/IHE.US.md) - [XLV.US](https://longbridge.com/en/quote/XLV.US.md) - [BBH.US](https://longbridge.com/en/quote/BBH.US.md) - [IBB.US](https://longbridge.com/en/quote/IBB.US.md) - [FBT.US](https://longbridge.com/en/quote/FBT.US.md) - [VHT.US](https://longbridge.com/en/quote/VHT.US.md) ## Related News & Research - [NeOnc Advances Glioma Programs and Strengthens Financial Position](https://longbridge.com/en/news/286826865.md) - [US cancer clinics scramble to get experimental Revolution Medicines pancreatic cancer drug](https://longbridge.com/en/news/286394551.md) - [](https://longbridge.com/en/news/286787081.md) - [Relay drug shows early promise against rare blood vessel diseases](https://longbridge.com/en/news/287094432.md) - [BeOne Wins First-in-Class U.S. FDA Nod for BCL2 Drug in Relapsed Mantle Cell Lymphoma](https://longbridge.com/en/news/286330888.md)