Prelude Therapeutics Inc. 2026年季度报告

Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial Statements PART I—FINANCIAL INFORMATION PRELUDE THERAPEUTICS INCORPORATED PRELUDE THERAPEUTICS INCORPORATED STATEMENTS OF CASH FLOWS(UNAUDITED) PRELUDE THERAPEUTICS INCORPORATED NOTES TO UNAUDITED INTERIM FINANCIAL STATEMENTS 1. Background Prelude Therapeutics Incorporated (the “Company”) is a precision oncology company built on a foundation of drug discoveryexcellence to deliver novel precision cancer medicines to underserved patients. Since beginning operations in 2016, the Companyhas devoted substantially all its efforts to research and development, conducting preclinical and clinical studies, recruiting 2. Risks and liquidity The Company faces a number of risks common to early-stage companies in the biotechnology industry. Principal among theserisks are the uncertainties in the development process, development of the same or similar technological innovations bycompetitors, protection of proprietary technology, dependence on key personnel, compliance with government regulations andapproval requirements, and the need to obtain additional financing to fund operations. Product candidates currently underdevelopment will require significant additional research and development efforts, including extensive preclinical and clinicaltesting and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate Since its inception, the Company has incurred operating losses and had an accumulated deficit of $693.4 million as of March31, 2026. The Company has no product revenue to date and devotes its efforts to research and development. The Company At March 31, 2026, the Company had cash, cash equivalents, restricted cash and marketable securities totaling $84.8 million.Subsequent to March 31, 2026, the Company sold 16,611,014 shares of its voting common stock at a price of $4.44 per share andpre-funded warrants to purchase up to 3,659,252 shares of its common stock at a price of $4.4399 per pre-funded warrant, resultingin gross proceeds of approximately $90.0 million (the "April Offering"). See Note 13 - Subsequent Events for additional To fund its operating expenses and capital expenditure requirements, the Company plans to seek additional funding throughpublic or private equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. The Companymay not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into strategic alliancesor other arrangements on favorable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the 3. Summary of significant accounting policies The complete summary of significant accounting policies included in the Company’s financial statements for the year endedDecember 31, 2025 can be found in “Note 3. Summary of significant accounting policies” of the Company’s Annual Report on Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with generally acceptedaccounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Qand Article 10of Regulation S-X.They do not include all of the information and notes required by GAAP for complete financial statements. In the opinion ofmanagement, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have beenincluded. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be Use of Estimates The preparation of the unaudited interim financial statements in conformity with GAAP requires management to makeestimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and Estimates and assumptions are periodically reviewed, and the effects of the revisions are reflected in the accompanyingunaudited interim financial statements in the period they are determined to be necessary. The most significant estimate relates to Income Taxes Based upon the historical and anticipated future losses, management has determined that the deferred tax assets generated bynet operating losses and research and development credits do not meet the more likely than not threshold for realizability. Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available forevaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing Cash, Cash Equivalents and Restricted Cash The Company’s cash equivalents include short-term highly liquid investments with an original maturity of 90 days or lesswhen purchased and are carried at fair value in the accompanying balance sheets. Restricted cash consists of a letter of credit for the benefit of