Why Did PRLD Stock Surge 13% Today?
Synopsis
Prelude Therapeutics said on Tuesday that the FDA gave clearances to proceed with early-stage trials for its experimental drug PRT12396.
- Prelude Therapeutics now anticipates dosing the first patient with PRT12396 by the second quarter of 2026.
- The early stage trial will determine the safety, efficacy and pharmacokinetic profile of PRT12396.
- The company said that the FDA’s clearance marks the first milestone in its focus on certain programs that it outlined in the last quarter.
Shares of Prelude Therapeutics Incorporated (PRLD) closed 13% higher on Tuesday and edged up 2% after hours after the U.S. Food and Drug Administration (FDA) gave clearances to proceed with early-stage trials for its experimental drug PRT12396.
PRT12396 is being developed for the treatment of patients with certain myeloproliferative neoplasms. Myeloproliferative neoplasms (MPNs) are a group of rare, slow-growing blood cancers where the bone marrow produces too many red blood cells, platelets, or certain white blood cells, often due to acquired genetic mutations, leading to symptoms like fatigue, itching, headaches, and bleeding or clotting issues.
Trial Design And Timeline
Prelude Therapeutics anticipates dosing the first patient with the drug by the second quarter of 2026. The company said that the FDA’s clearance marks the first milestone in its focus on certain programs that it outlined in the last quarter.
“We look forward to advancing PRT12396 into the phase 1 study in patients with polycythemia vera and myelofibrosis in parallel,” said Kris Vaddi, Chief Executive Officer of Prelude. Both polycythemia vera and myelofibrosis are types of blood cancer.
The early-stage trial will determine the safety, efficacy and pharmacokinetic profile of PRT12396.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around PRLD stock rose from ‘bearish’ to ‘bullish’ territory over the past 24 hours, while message volume increased from ‘low’ to ‘high’ levels.
A Stocktwits user opined that the news might be a hint that the company is moving in the right direction.
Another voiced optimism for the stock rising as high as $3.
PRLD stock has more than doubled over the past 12 months.
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