Strategic Decisions and Financial Position
Prelude Therapeutics has made strategic decisions to focus on R&D, optimize capital allocation, and align business strategy with high-probability success programs. These efforts have strengthened their financial position, providing additional cash runway into 2027.
Advancement of Development Candidates
Prelude is advancing two development candidates into clinical development by 2026: a JAK2V617F selective inhibitor for myeloproliferative neoplasms and a KAT6A selective degrader for ER-positive breast cancer.
Incyte Collaboration
Prelude entered into an exclusive option agreement with Incyte for the JAK2V617F program, potentially bringing up to $910 million in cash payments and future milestones, including a $35 million upfront fee and $25 million stock purchase.
Discovery Progress
Significant progress in next-generation ADCs called degrader antibody conjugates (DACs), with potential for licensing agreements to bring in non-dilutive capital.