<span item_type="fundamental" item_id="76802c73fa44442294e3489f8db8e15e" counter_id="ST/US/PRLD" env="prod"></span><span item_type="announcement" item_id="647514887258312321" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 4.58 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.13, beating the estimate of USD -0.2525.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -17.97 M.</p><p></p><h4>First Quarter 2026 Financial Results</h4><h4>Revenue</h4><p>For the three months ended March 31, 2026, revenue for Prelude Therapeutics Incorporated was $4.58 million, compared to $0 for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Research and Development (R&amp;D) Expenses</h4><p>R&amp;D expense decreased to $13.6 million for the three months ended March 31, 2026, from $28.8 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span> This included $1.1 million of non-cash stock-based compensation expense for Q1 2026, compared to $2.3 million for Q1 2025, primarily due to lower expense for SMARCA2 clinical trials, which were paused in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>General and Administrative (G&amp;A) Expenses</h4><p>G&amp;A expenses decreased to $5.2 million for the three months ended March 31, 2026, from $5.8 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span> This included $0.9 million of non-cash stock-based compensation expense for Q1 2026, compared to $1.6 million for Q1 2025, primarily due to a decrease in stock-based compensation and employee-related expenses. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Total Operating Expenses</h4><p>Total operating expenses for the three months ended March 31, 2026, were $18.757 million, compared to $34.606 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Loss from Operations</h4><p>Loss from operations for the three months ended March 31, 2026, was -$14.177 million, compared to -$34.606 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Other Income, Net</h4><p>Other income, net, for the three months ended March 31, 2026, was $3.792 million, compared to $2.521 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Net Loss</h4><p>For the three months ended March 31, 2026, net loss was $10.4 million, compared to $32.1 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span> Included in the net loss for Q1 2026 was $2.0 million of non-cash expenses related to share-based payments, compared to $3.8 million for the same period in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Comprehensive Loss</h4><p>Comprehensive loss for the three months ended March 31, 2026, was -$10.434 million, compared to -$32.108 million for the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Balance Sheet Highlights</h4><h4>Cash, Cash Equivalents, Restricted Cash and Marketable Securities</h4><p>As of March 31, 2026, cash, cash equivalents, restricted cash, and marketable securities totaled $84.8 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span> This included $21.756 million in cash and cash equivalents, $59.798 million in marketable securities, and $3.235 million in restricted cash. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span> As of December 31, 2025, cash and cash equivalents were $35.256 million, marketable securities were $67.958 million, and restricted cash was $3.235 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Total Assets</h4><p>Total assets as of March 31, 2026, were $119.642 million, compared to $141.315 million as of December 31, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Total Liabilities</h4><p>Total liabilities as of March 31, 2026, were $59.459 million, compared to $72.678 million as of December 31, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Total Stockholders’ Equity</h4><p>Total stockholders’ equity as of March 31, 2026, was $60.183 million, compared to $68.637 million as of December 31, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span></p><h4>Unique Financial Metrics</h4><p>Prelude Therapeutics Incorporated obtained gross proceeds of $90 million from a previously announced underwritten offering. <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_2.htm"></span></p><h4>Outlook / Guidance</h4><p>Prelude Therapeutics Incorporated anticipates its existing cash, cash equivalents, restricted cash, and marketable securities will fund operations into the second quarter of 2028, following an underwritten offering that generated gross proceeds of approximately $90 million subsequent to March 31, 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span><span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_2.htm"></span> The company expects to file the Investigational New Drug (IND) application for PRT13722, a KAT6A degrader, by mid-2026, with Phase 1 study initiation in ER+ breast cancer anticipated in the second half of 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_1.htm"></span><span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1678660/000119312526218162/prld-ex99_2.htm"></span></p>

Prelude Therapeutics | 8-K: FY2026 Q1 Revenue: USD 4.58 M