Prelude Therapeutics Files Q2 2024 10-Q
Ticker: PRLD · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1678660
Sentiment: neutral
Topics: 10-Q, financials, SEC filing
TL;DR
Prelude Therapeutics filed its Q2 10-Q. Financials look steady, check the details on stock and agreements.
AI Summary
Prelude Therapeutics Inc. filed its 10-Q for the period ending June 30, 2024. The company's financial statements and disclosures are presented, including details on its common stock, additional paid-in capital, and retained earnings. The filing also references various plans and agreements, such as the 2021 Shelf Registration and a License Agreement.
Why It Matters
This filing provides investors with the latest financial performance and corporate updates for Prelude Therapeutics, crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-08-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Prelude Therapeutics Inc (company) — Filer of the 10-Q
- 2024-06-30 (date) — End of the reporting period
- 175 INNOVATION BOULEVARD, WILMINGTON, DE 19805 (location) — Company's business and mail address
- 001-39527 (other) — SEC File Number
FAQ
What is the company's primary business activity?
Prelude Therapeutics Inc. is classified under Pharmaceutical Preparations (SIC code 2834).
What is the fiscal year end for Prelude Therapeutics?
The company's fiscal year ends on December 31st.
What is the SEC file number for Prelude Therapeutics?
The SEC file number is 001-39527.
When was the company incorporated?
The company was incorporated in Delaware (DE).
What is the primary address listed for Prelude Therapeutics?
The business and mail address is 175 Innovation Boulevard, Wilmington, DE 19805.
Filing Stats: 4,449 words · 18 min read · ~15 pages · Grade level 17.5 · Accepted 2024-08-12 07:20:41
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share PRLD Nasdaq Global Select
Filing Documents
- prld-20240630.htm (10-Q) — 1509KB
- prld-ex31_1.htm (EX-31.1) — 16KB
- prld-ex31_2.htm (EX-31.2) — 16KB
- prld-ex32_1.htm (EX-32.1) — 8KB
- prld-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-095065.txt ( ) — 6871KB
- prld-20240630.xsd (EX-101.SCH) — 1047KB
- prld-20240630_htm.xml (XML) — 1282KB
Financial Statements
Financial Statements 1 Balance Sheets (Unaudited) 1 2 3 5 Notes to Unaudited Interim Financial Statements 6 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 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements. PRELUDE THERAPEUTICS INCORPORATED BALANCE SHEETS (in thousands, except share data) June 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 27,828 $ 25,291 Marketable securities 152,016 207,644 Prepaid expenses and other current assets 2,870 2,654 Total current assets 182,714 235,589 Restricted cash 4,044 4,044 Property and equipment, net 7,554 7,325 Operating lease right-of-use asset 29,574 30,412 Other assets 405 295 Total assets $ 224,291 $ 277,665 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 6,170 $ 4,580 Accrued expenses and other current liabilities 11,426 15,768 Deferred revenue 3,000 — Operating lease liability 2,232 1,481 Finance lease liability 507 — Total current liabilities 23,335 21,829 Other liabilities 3,215 3,339 Operating lease liability 15,465 15,407 Total liabilities 42,015 40,575 Commitments (Note 8) Stockholders' equity: Voting common stock, $ 0.0001 par value: 487,149,741 shares authorized; 42,158,224 and 42,063,995 shares issued and outstanding at June 30, 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 June 30, 2024 and December 31, 2023 1 1 Additional paid-in capital 705,122 693,252 Accumulated other comprehensive (loss) income ( 290 ) 223 Accumulated deficit ( 522,561 ) ( 456,390 ) Total stockholders' equity 182,276 237,090 Total liabilities and stockholders' equity $ 224,291 $ 277,665 See accompanying notes to unaudited interim financial statements. 1 PRELUDE THERAPEUTICS INCORPORATED (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (in thousands, e