Prelude Therapeutics Incorporated (PRLD), a clinical-stage precision oncology company, priced its offering of 18.02 million shares at a price of $4.44 per share, and pre-funded warrants to purchase up to 2.25 million shares at a price of $4.44 per pre-funded warrant. The total gross proceeds of the offering are estimated at approximately $90 million.
The firm intends to use the net proceeds from the offering primarily for general corporate purposes, including funding research, preclinical and clinical development of its product candidates, increasing working capital, and making capital expenditures.
The offering is expected to close on April 21, 2026, subject to customary closing conditions.
Goldman Sachs & Co. LLC, Evercore ISI and Citizens Capital Markets are acting as the joint book-running managers for the offering.
Prelude Therapeutics develops medicines for cancer patients, and its pipeline includes selective KAT6A degraders, such as PRT13722, and JAK2V617F mutant-selective inhibitors, such as PRT12396.
Its lead candidate, PRT12396, received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration in February 2026, and the company anticipates initiating a Phase 1 study in patients with polycythemia vera and myelofibrosis, with first patient dosing expected in the second quarter of 2026.
Also, Prelude noted that it remains on track to file the IND Application for PRT13722 for hormone receptor positive (HR+)/human epidermal growth factor receptor 2 (HER2-) breast cancer (BC) by mid-2026 and to initiate clinical trials in the second half of 2026.
As of December 31, 2025, Prelude had cash, cash equivalents, restricted cash and marketable securities of $106 million and is expected to provide cash runway into the second quarter of 2027.
PRLD has traded between $0.73 and $5.54 over the last year. The stock closed Monday's trade at $4.51, up 1.58%.
In the overnight market, PRLD is up 2.44% at $4.62.
For More Such Biotech Stock News, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.