Prelude Therapeutics Reports $31.2 Million Net Loss in Q2 2025, Seeks Additional Funding

Prelude Therapeutics Incorporated has reported its financial results for the second quarter of 2025, revealing a net loss of $31.2 million, a decrease from the $34.7 million loss recorded in the same period of 2024. For the first half of 2025, the company reported a net loss of $63.3 million, compared to a loss of $66.2 million in the first half of 2024. The reduction in losses is attributed to a decrease in operating expenses, which fell to $32.2 million in the second quarter from $37.2 million a year earlier, and to $66.8 million from $71.5 million for the six-month period. The company has not generated any revenue from product sales to date.

In terms of financial position, Prelude's total assets decreased to $114.9 million as of June 30, 2025, down from $175.5 million at the end of 2024. This decline was primarily due to a significant reduction in marketable securities, which fell from $121.1 million to $47.5 million. Cash and cash equivalents increased to $25.8 million from $12.5 million, reflecting a net increase in cash, cash equivalents, and restricted cash of $13.3 million during the first half of 2025. The company’s accumulated deficit has grown to $646.9 million.

Operationally, Prelude has made strategic moves, including a workforce reduction of approximately 11% to align resources with ongoing clinical and preclinical programs, incurring one-time costs of $0.5 million. The company continues to advance its clinical pipeline, with ongoing trials for its drug candidates, including PRT3789 and PRT7732, which target specific cancer mutations. Prelude is also collaborating with AbCellera Biologics on multiple oncology programs, which is expected to enhance its research capabilities.

Looking ahead, Prelude anticipates that its cash reserves will not be sufficient to fund operations for the next twelve months without additional financing. The company plans to seek funding through public or private equity offerings, debt financing, and strategic collaborations. The management has expressed substantial doubt about the company's ability to continue as a going concern if it cannot secure the necessary funding. The company remains focused on advancing its clinical candidates and aims to provide updates on its ongoing trials by the end of 2025.