Why Did Prelude Therapeutics Stock Tumble To 52-Week Low Today?

Prelude Therapeutics Inc PRLD has announced data from the dose-escalation portions of Phase 1 trials of PRT543 and PRT811.
The data will be featured at the AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics.
PRT543 demonstrated target engagement and inhibition of PRMT5 functional activity, evidenced by a 69% reduction in serum symmetric dimethylarginine (sDMA) at a dose of 45 mg/5x per week.
One complete response (CR) was maintained for over 18 months in a patient with HRD+ ovarian cancer.
Stable disease (SD) persisting for over six months was seen in five patients, including four with adenoid cystic carcinoma (ACC) and one with uveal melanoma.
The most common grade 3 or higher treatment-related adverse events were thrombocytopenia (27%) and anemia (12%), reversible upon treatment interruption.
PRT811 demonstrated dose-dependent inhibition of PRMT5 activity, evidenced by an 83% reduction in serum sDMA at 600 mg daily.
PRT811 demonstrated signs of preliminary clinical activity, including an IDH1 mutated GBM patient who experienced a partial response (PR) that evolved into a durable CR for more than 13 months.
One patient with splicing-mutant (SF3B1) uveal melanoma demonstrated SD for more than six months with a 25% tumor regression and remains on treatment.
One additional patient (800 mg twice daily) with SF3B1 uveal melanoma had an unconfirmed PR and 47% decrease in target lesion.
A patient with triple-negative breast cancer (800 mg QD) demonstrated a 27% decrease in target lesions.
Related: Why BofA Is Turning Bullish On Prelude Therapeutics.
Price Action: PRLD stock is down 33.3% at $19.20 during the market session on the last check Thursday.

Market News and Data brought to you by Benzinga APIs

Comments

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga