Prelude Therapeutics Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

Prelude Therapeutics Inc (PRLD) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to common stock, restricted stock units, and employee stock options. Details on fair value measurements and related inputs (Level 1 and Level 2) are provided. Information on research and development expenses for the period January 1, 2023 to March 31, 2023 is referenced. The company's business address is 175 Innovation Boulevard, Wilmington, DE 19805.

Why It Matters

For investors and stakeholders tracking Prelude Therapeutics Inc, this filing contains several important signals. This 10-Q filing provides an update on Prelude Therapeutics' financial position and operational activities for the first quarter of 2024, which is crucial for investors to assess the company's performance and outlook. The inclusion of specific data on stock types, fair value measurements, and R&D expenses allows stakeholders to evaluate the company's capital structure, investment strategies, and commitment to innovation.

Risk Assessment

Risk Level: low — Prelude Therapeutics Inc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Monitor future filings for updates on R&D progress and financial performance following this standard quarterly report.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Prelude Therapeutics Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 175 Innovation Boulevard, Wilmington, DE 19805 (address) — Business address
• 2834 (industry_code) — Standard Industrial Classification
• 0000950170-24-053940 (accession_number) — Accession number for the filing
• 10-Q (form_type) — Form type

FAQ

Industry Context

Prelude Therapeutics operates in the pharmaceutical preparations industry, focusing on the development of novel therapeutics.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and disclosures.
2. Analyze any subsequent events or updates provided in future SEC filings.
3. Compare R&D expense trends with industry peers.

Key Dates

• 2024-03-31: Period End — End of the reporting quarter for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share PRLD Nasdaq Global Select

Filing Documents

• prld-20240331.htm (10-Q) — 1114KB
• prld-ex31_1.htm (EX-31.1) — 15KB
• prld-ex31_2.htm (EX-31.2) — 15KB
• prld-ex32_1.htm (EX-32.1) — 8KB
• prld-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-053940.txt ( ) — 5588KB
• prld-20240331.xsd (EX-101.SCH) — 926KB
• prld-20240331_htm.xml (XML) — 981KB

Financial Statements

Financial Statements 1 Balance Sheets (Unaudited) 1 2 3 4 Notes to Unaudited Interim Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. PRELUDE THERAPEUTICS INCORPORATED BALANCE SHEETS (UNAUDITED) (in thousands, except share data) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 24,707 $ 25,291 Marketable securities 177,217 207,644 Prepaid expenses and other current assets 3,442 2,654 Total current assets 205,366 235,589 Restricted cash 4,044 4,044 Property and equipment, net 7,294 7,325 Right-of-use asset 30,107 30,412 Other assets 295 295 Total assets $ 247,106 $ 277,665 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,308 $ 4,580 Accrued expenses and other current liabilities 10,147 15,768 Operating lease liability 2,188 1,481 Total current liabilities 17,643 21,829 Other liabilities 3,277 3,339 Operating lease liability 15,452 15,407 Total liabilities 36,372 40,575 Commitments (Note 8) Stockholders' equity: Voting common stock, $ 0.0001 par value: 487,149,741 shares authorized; 42,071,505 and 42,063,995 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 4 4 Non-voting common stock, $ 0.0001 par value: 12,850,259 shares authorized; 12,850,259 shares issued and outstanding at both March 31, 2024 and December 31, 2023 1 1 Additional paid-in capital 698,785 693,252 Accumulated other comprehensive (loss) income ( 235 ) 223 Accumulated deficit ( 487,821 ) ( 456,390 ) Total stockholders' equity 210,734 237,090 Total liabilities and stockholders' equity $ 247,106 $ 277,665 See accompanying notes to unaudited interim financial statements. 1 PRELUDE THERAPEUTICS INCORPORATED (UNAUDITED) Three Months Ended March 31, (in thousands, except share and per share data) 2024 2023 Operating expenses: Research and development $ 27,409

View Full Filing

View this 10-Q filing on SEC EDGAR