Prelude gets $60M from Incyte for JAK2V617F option; pauses SMARCA2; CMO resigns

Prelude Therapeutics Inc

Incyte receives exclusive option to acquire Prelude's mutant selective JAK2V617F JH2 inhibitor program for $100M exercise price, plus up to $775M milestones and single-digit royalties.
Prelude receives $60M in capital: $35M upfront plus $25M equity investment (6.25M shares at $4.00 each).
Company pauses clinical development of SMARCA2 degrader program to prioritize JAK2V617F and KAT6A degrader programs.
President and CMO Jane Huang resigns; board member Dr. Victor Sandor steps in to oversee clinical development.
Cash runway extended into 2027 (potentially 2028 if Incyte exercises option); preliminary cash ~$52M as of Oct 31, 2025.

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Key facts

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Prelude Therapeutics Inc issued 6,250,000 shares of common stock to Incyte Corporation for $4.00 per share for a total of $25 million.

Security: common stock
Shares: 6,250,000 shares
Purchaser: Incyte Corporation
Consideration: $4.00 per share for a total of $25 million

Exact text from the filing

the Company entered into a securities purchase agreement with Incyte (the "Securities Purchase Agreement"), pursuant to which Incyte has agreed to purchase 6,250,000 shares (the "Shares") of the Company’s non-voting common stock (the "Non-Voting Common Stock") at a price of $4.00 per share for a total of $25 million.

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Prelude Therapeutics Inc filing history →

Source: SEC EDGAR

accession 0000929638-25-004115

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