Prelude Therapeutics Files Q3 2024 10-Q
Ticker: PRLD · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1678660
Sentiment: neutral
Topics: 10-Q, SEC Filing, Financials
TL;DR
**Prelude Therapeutics Q3 10-Q filed. Financials and operations update.**
AI Summary
Prelude Therapeutics Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial condition and business operations. Key financial data and operational details are presented within this filing, which covers the third quarter of 2024.
Why It Matters
This filing provides investors and stakeholders with the latest financial and operational performance of Prelude Therapeutics, crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Prelude Therapeutics faces inherent risks related to drug development, clinical trials, regulatory approvals, and market competition.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
- 20240930 — Reporting Period End Date (Specifies the date up to which financial information is reported.)
- 20241106 — 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
- 20240930 (date) — End of reporting period
- 20241106 (date) — Filing date
- Jefferies Llc (company) — Mentioned in relation to an agreement
FAQ
What is the primary business of Prelude Therapeutics Inc.?
Prelude Therapeutics Inc. is primarily involved in the Pharmaceutical Preparations industry, as indicated by its SIC code [2834].
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 6, 2024.
What is the company's state of incorporation?
Prelude Therapeutics Inc. is incorporated in Delaware (DE).
What is the company's fiscal year end?
The company's fiscal year ends on December 31 (1231).
Filing Stats: 4,461 words · 18 min read · ~15 pages · Grade level 18.1 · Accepted 2024-11-06 16:27:20
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share PRLD Nasdaq Global Select
Filing Documents
- prld-20240930.htm (10-Q) — 1657KB
- prld-ex31_1.htm (EX-31.1) — 16KB
- prld-ex31_2.htm (EX-31.2) — 16KB
- prld-ex32_1.htm (EX-32.1) — 9KB
- prld-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-122377.txt ( ) — 7238KB
- prld-20240930.xsd (EX-101.SCH) — 1060KB
- prld-20240930_htm.xml (XML) — 1327KB
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 28 Item 4.
Controls and Procedures
Controls and Procedures 28 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31
—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) September 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 11,134 $ 25,291 Marketable securities 142,492 207,644 Prepaid expenses and other current assets 2,761 2,654 Total current assets 156,387 235,589 Restricted cash 4,044 4,044 Property and equipment, net 7,202 7,325 Operating lease right-of-use asset 29,182 30,412 Other assets 405 295 Total assets $ 197,220 $ 277,665 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,921 $ 4,580 Accrued expenses and other current liabilities 13,579 15,768 Operating lease liability 2,365 1,481 Finance lease liability 359 — Total current liabilities 22,224 21,829 Other liabilities 3,153 3,339 Operating lease liability 15,412 15,407 Total liabilities 40,789 40,575 Commitments (Note 8) Stockholders' equity: Voting common stock, $ 0.0001 par value: 487,149,741 shares authorized; 42,178,012 and 42,063,995 shares issued and outstanding at September 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 September 30, 2024 and December 31, 2023 1 1 Additional paid-in capital 711,091 693,252 Accumulated other comprehensive income 167 223 Accumulated deficit ( 554,832 ) ( 456,390 ) Total stockholders' equity 156,431 237,090 Total liabilities and stockholders' equity $ 197,220 $ 277,665 See accompanying notes to unaudited interim financial statements. 1 PRELUDE THERAPEUTICS INCORPORATED (UNAUDITED) Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and pe