Prelude Therapeutics (PRLD) Stock’s Wild Ride: 150% Surge, Big Pharma Deal & What’s Next
Prelude Therapeutics shares surged over 150% on Nov. 3, then dropped about 40% the next day amid record trading. The swings followed news that Incyte Corp. will pay $60 million upfront for rights to Prelude’s JAK2 inhibitor program, with future payments possible. Prelude is pausing one pipeline program, refocusing on two others, and its Chief Medical Officer has departed. Cash reserves now extend operations into 2027.
