Prelude Therapeutics Inc. (PRLD) Stock Plummets Following Announcement of Upcoming Presentations

Prelude Therapeutics Inc. (PRLD) stock prices were down by 29.55% shortly after market trading commenced on October 7th, 2021. This brought the price per share down to USD$20.28 early on in the trading day.

PRLD Stock Announces Presentation

October 7th, 2021 saw PRLD stock announce the presentation of data from several of its pipeline programs. The presentation included the dose escalation portions of the company’s ongoing Phase 1 trial of lead oral protein arginine methyltransferase 5 (PRMT5) inhibitors PRT543 and PRT811. The data will be presented at the AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics, which will be held from October 7th, 2021 to October 10th, 2021.

Building on Success

The company is encouraged by the Phase 1 dose escalation data for its lead oral PRMT5 inhibitors, PRT543 and PRT811. Both treatments demonstrated promising safety profiles, dose-dependent increases in pharmacokinetic parameters, target engagement. Both treatments also achieved degrees of PRMT5 inhibitions required for efficacy in preclinical models at well tolerated doses. Preliminary clinical activity observed with both molecules in multiple tumor types has also been promising. These observations indicated durable responses in cancers with high unmet needs. PRT811 is a brain penetrant molecule the demonstrated a very high level of systemic PRMT5 inhibition at well tolerated doses and without central nervous system adverse events, thereby expanding the potential clinical utility of the molecule.

PRT2527 Development

The company is keen to leverage its insights from the data generated as it moved forward through to the expansion cohorts in selected patient populations. Cadence from the data collected from these cohorts is expected through the course of 2022. PRT2527 is a potent and selective CDK9 inhibitor, with preclinical findings proving to be highly encouraging. The findings support the treatment’s potential in solid tumors and hematological malignancies that demonstrate dysregulation of MYC gene expression. PRLD stock continues to stay on track to submit an Investigational New Drug application and commence its Phase 1 clinical trial by the end of the 2021 year.

Future Outlook for PRLD Stock

PRLD stock is poised to capitalize on the momentum generated over the course of the quarter. the company is keen to capitalize on the opportunities afforded to it from its expanded exposure resulting from its upcoming presentations. Current and potential investors are hopeful that management will be able to effectively leverage the resources at its disposal. This is hoped to facilitate sustained and significant increases in shareholder value over the long term.