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Prelude (PRLD) Collaborates With BeiGene for Oncology Candidate
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Shares of Prelude Therapeutics (PRLD - Free Report) are up almost 8.5% at the close on Mar 15, as the company entered into an agreement with BeiGene (BGNE - Free Report) . The companies have come together to evaluate Prelude’s investigational CDK9 inhibitor, PRT2527, along with BeiGene’s zanubrutinib, a Bruton’s tyrosine kinase (BTK) inhibitor, in patients suffering from hematologic malignancies.
The company’s shares have plunged 15.9% in the past year compared with the industry’s 16.7% decline.
Image Source: Zacks Investment Research
Zanubrutinib, developed by BeiGene, is a small-molecule inhibitor of BTK. It is being evaluated in various clinical programs as a monotherapy and in combination with other therapies to treat various B-cell malignancies.
BGEN will provide zanubrutinib to Prelude, and the latter will retain all global operational, developmental and commercialization rights and responsibilities for PRT2527.
The PRT2527 drug is currently being studied as a monotherapy in a phase I dose-escalation study in advanced solid tumors, as well as in relapsed/refractory hematologic malignancies.
Prelude’s pipeline includes four candidates that are currently in clinical development — PRT1419 is a potent and selective inhibitor of MCL1, PRT2527 is a potent and highly selective CDK9 inhibitor, PRT3645 is a next-generation CDK4/6 inhibitor and PRT3789 is a first-in-class SMARCA2/BRM protein degrader.
The company also reported full-year 2022 results. Net loss was $2.44 per share in 2022, flat year over year. Cash and cash equivalents were $201.7 million as of Dec 31.
The company recently announced program prioritization initiatives and extended its cash guidance. PRLD expects its existing cash, cash equivalents and marketable securities to fund its operations through the fourth quarter of 2024.
Prelude Therapeutics Incorporated Price and Consensus
Kala Pharmaceuticals’ loss per share estimates have narrowed from $19.67 to $15.35 for 2023 and from $14.41 to $13.12 for 2024, in the past 60 days. The stock has plunged 82.5% in the past year.
KALA’s earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 11.56%.
CRISPR Therapeutics' loss per share estimates for 2023 have narrowed from $8.21 to $7.54, in the past 60 days.
CRSP's earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 3.19%. The stock has plunged 32.2% in the past year.
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Prelude (PRLD) Collaborates With BeiGene for Oncology Candidate
Shares of Prelude Therapeutics (PRLD - Free Report) are up almost 8.5% at the close on Mar 15, as the company entered into an agreement with BeiGene (BGNE - Free Report) . The companies have come together to evaluate Prelude’s investigational CDK9 inhibitor, PRT2527, along with BeiGene’s zanubrutinib, a Bruton’s tyrosine kinase (BTK) inhibitor, in patients suffering from hematologic malignancies.
The company’s shares have plunged 15.9% in the past year compared with the industry’s 16.7% decline.
Image Source: Zacks Investment Research
Zanubrutinib, developed by BeiGene, is a small-molecule inhibitor of BTK. It is being evaluated in various clinical programs as a monotherapy and in combination with other therapies to treat various B-cell malignancies.
BGEN will provide zanubrutinib to Prelude, and the latter will retain all global operational, developmental and commercialization rights and responsibilities for PRT2527.
The PRT2527 drug is currently being studied as a monotherapy in a phase I dose-escalation study in advanced solid tumors, as well as in relapsed/refractory hematologic malignancies.
Prelude’s pipeline includes four candidates that are currently in clinical development — PRT1419 is a potent and selective inhibitor of MCL1, PRT2527 is a potent and highly selective CDK9 inhibitor, PRT3645 is a next-generation CDK4/6 inhibitor and PRT3789 is a first-in-class SMARCA2/BRM protein degrader.
The company also reported full-year 2022 results. Net loss was $2.44 per share in 2022, flat year over year. Cash and cash equivalents were $201.7 million as of Dec 31.
The company recently announced program prioritization initiatives and extended its cash guidance. PRLD expects its existing cash, cash equivalents and marketable securities to fund its operations through the fourth quarter of 2024.
Prelude Therapeutics Incorporated Price and Consensus
Prelude Therapeutics Incorporated price-consensus-chart | Prelude Therapeutics Incorporated Quote
Zacks Rank & Stocks to Consider
Currently, Prelude has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector are Kala Pharmaceuticals (KALA - Free Report) and CRISPR Therapeutics (CRSP - Free Report) , each holding a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Kala Pharmaceuticals’ loss per share estimates have narrowed from $19.67 to $15.35 for 2023 and from $14.41 to $13.12 for 2024, in the past 60 days. The stock has plunged 82.5% in the past year.
KALA’s earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 11.56%.
CRISPR Therapeutics' loss per share estimates for 2023 have narrowed from $8.21 to $7.54, in the past 60 days.
CRSP's earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 3.19%. The stock has plunged 32.2% in the past year.