On September 10, 2026, Prelude Therapeutics announced that the U.S. Food and Drug Administration cleared its Investigational New Drug application for PRT13722, a first-in-class oral KAT6A selective degrader. The company intends to initiate a Phase 1 study in patients with HR+/HER2- breast cancer during the fourth quarter of 2026. This regulatory milestone advances Prelude's precision oncology pipeline and supports its strategy to develop targeted therapies for high-unmet-need malignancies. Prelude Therapeutics is a clinical-stage biotechnology company focused on developing innovative cancer medicines using targeted protein degradation technologies.

Prelude Therapeutics reported financial results for the quarter ended June 30, 2026, posting a net loss of $13.9 million, or $0.14 per share, compared to a $31.2 million loss in the prior year period. Research and development expenses decreased to $16.1 million from $25.8 million, primarily due to paused SMARMA2 clinical trials and workforce reductions. General and administrative expenses fell to $5.0 million from $6.4 million. The company held $155.2 million in cash and marketable securities as of June 30, 2026, providing a runway into the second quarter of 2028. Pipeline updates include expected initiation of a Phase 1 study for PRT13722 in HR+ breast cancer in Q4 2026 and ongoing enrollment for PRT12396 in polycythemia vera and myelofibrosis. Prelude Therapeutics is a clinical-stage precision oncology company developing targeted protein degradation therapies.