Prelude Therapeutics reports FY24 EPS ($1.68), consensus ($1.77)

Reports FY24 revenue $7M vs. $0 last year. “2024 was a productive year for Prelude highlighted by our efforts to advance the first ever highly selective SMARCA2 degraders to treat cancer patients who harbor SMARCA4 deleterious mutations,” stated Kris Vaddi, Ph.D., Chief Executive Officer of Prelude. “These patients have a very poor clinical prognosis and are faced with limited treatment options. Through our development efforts to date with both monotherapy and combination approaches with PRT3789, we were the first to establish that selectively targeting SMARCA2 in patients with SMARCA4-deficient cancers could represent an important new class of therapy. Our SMARCA2 degraders appear generally safe and well-tolerated in clinical trials and have anti-tumor activity in several types of SMARCA4-deficient cancers. We look forward to sharing data throughout the year both from our ongoing dose escalation and combination studies with PRT3789, and the first clinical data from our ongoing clinical trial of our once-daily oral SMARCA2 degrader, PRT7732. Lastly, our research and development organization was incredibly productive throughout 2024 continuing our mission to deliver new precision oncology medicines for patients with significant unmet need. We anticipate providing an update on our emerging discovery pipeline in the first half of 2025.”