$PRLD
Prelude Therapeutics Inc

2023 Q1 Form 10-K Financial Statement

#000095017023007989 Filed on March 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.281M $7.516M $30.65M
YoY Change -2.49% -4.03% 13.7%
% of Gross Profit
Research & Development $21.83M $25.87M $92.89M
YoY Change -4.32% 2.74% 7.04%
% of Gross Profit
Depreciation & Amortization $278.0K $362.0K $1.324M
YoY Change -9.45% 24.83% 44.7%
% of Gross Profit
Operating Expenses $29.12M $33.38M $123.5M
YoY Change -3.87% 1.14% 8.62%
Operating Profit -$29.12M -$123.5M
YoY Change -3.87% 8.62%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.397M $4.744M $8.102M
YoY Change 69.74% 2723.81% 296.96%
Pretax Income -$27.72M -$28.64M -$115.4M
YoY Change -5.93% -12.79% 3.35%
Income Tax
% Of Pretax Income
Net Earnings -$27.72M -$28.64M -$115.4M
YoY Change -5.93% -12.79% 3.35%
Net Earnings / Revenue
Basic Earnings Per Share -$0.58 -$2.44
Diluted Earnings Per Share -$0.58 -$0.60 -$2.44
COMMON SHARES
Basic Shares Outstanding 47.91M 47.86M 47.37M
Diluted Shares Outstanding 47.74M 47.37M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.3M $201.7M $201.7M
YoY Change -35.29% -30.73% -30.73%
Cash & Equivalents $18.20M $30.61M $30.61M
Short-Term Investments $154.1M $171.1M $171.1M
Other Short-Term Assets $3.008M $2.652M $2.652M
YoY Change -20.49% -31.68% -31.68%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $175.3M $204.4M $204.4M
YoY Change -35.08% -30.75% -30.75%
LONG-TERM ASSETS
Property, Plant & Equipment $5.371M $4.908M $6.700M
YoY Change -15.36% 24.92% 18.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.33M $9.420M $9.420M
YoY Change 275.05% 116.7% 116.7%
Total Long-Term Assets $23.06M $16.12M $16.12M
YoY Change 115.51% 61.47% 61.47%
TOTAL ASSETS
Total Short-Term Assets $175.3M $204.4M $204.4M
Total Long-Term Assets $23.06M $16.12M $16.12M
Total Assets $198.3M $220.5M $220.5M
YoY Change -29.34% -27.73% -27.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.082M $6.777M $6.777M
YoY Change -4.17% -13.56% -13.56%
Accrued Expenses $11.19M $13.09M $14.40M
YoY Change 64.08% 36.09% 27.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.66M $21.70M $21.70M
YoY Change 22.36% 13.03% 13.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.361M $3.361M $3.361M
YoY Change 20.47%
Total Long-Term Liabilities $3.361M $3.361M $3.361M
YoY Change 20.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.66M $21.70M $21.70M
Total Long-Term Liabilities $3.361M $3.361M $3.361M
Total Liabilities $23.02M $25.06M $25.06M
YoY Change 22.08% 30.53% 30.53%
SHAREHOLDERS EQUITY
Retained Earnings -$362.3M -$334.6M
YoY Change 45.74% 52.7%
Common Stock $538.0M $531.7M
YoY Change 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $175.3M $195.4M $195.4M
YoY Change
Total Liabilities & Shareholders Equity $198.3M $220.5M $220.5M
YoY Change -29.34% -27.73% -27.73%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$27.72M -$28.64M -$115.4M
YoY Change -5.93% -12.79% 3.35%
Depreciation, Depletion And Amortization $278.0K $362.0K $1.324M
YoY Change -9.45% 24.83% 44.7%
Cash From Operating Activities -$30.13M -$22.93M -$83.73M
YoY Change 37.63% -10.8% 0.24%
INVESTING ACTIVITIES
Capital Expenditures $810.0K $393.0K $3.019M
YoY Change -14.92% -232.32% -229.96%
Acquisitions
YoY Change
Other Investing Activities $18.81M $1.748M $84.71M
YoY Change -55.74% -215.99% -132.4%
Cash From Investing Activities $18.00M $1.355M $81.69M
YoY Change -56.68% -175.11% -130.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -269.0K 155.0K 815.0K
YoY Change -275.82% -92.07% -99.51%
NET CHANGE
Cash From Operating Activities -30.13M -22.93M -83.73M
Cash From Investing Activities 18.00M 1.355M 81.69M
Cash From Financing Activities -269.0K 155.0K 815.0K
Net Change In Cash -12.40M -21.42M -1.223M
YoY Change -162.63% -16.18% -99.33%
FREE CASH FLOW
Cash From Operating Activities -$30.13M -$22.93M -$83.73M
Capital Expenditures $810.0K $393.0K $3.019M
Free Cash Flow -$30.94M -$23.32M -$86.75M
YoY Change 35.44% -8.21% 6.82%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. Nature of Operations</span></p><p style="text-indent:4.267%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Prelude Therapeutics Incorporated (the “Company”) was incorporated in Delaware on February 5, 2016 and is a clinical-stage fully integrated oncology company built on a foundation of drug discovery excellence to deliver novel precision cancer medicines to underserved patients. Since beginning operations, the Company has devoted substantially all its efforts to research and development, conducting preclinical and clinical studies, recruiting management and technical staff, administration, and raising capital.</span></p>
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DebtSecuritiesAvailableForSaleUnrealizedLossPosition
163600000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.253%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.253%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="text-indent:4.253%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Estimates and assumptions are periodically reviewed and the effects of the revisions are reflected in the accompanying financial statements in the period they are determined to be necessary. The most significant estimate relates to accrued clinical trial expenses.</span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.253%;text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.253%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash, cash equivalents, and marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30605000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31828000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4044000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
4044000
CY2022 us-gaap Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
Depreciation expense is recognized using the straight-line method over the estimated useful life of the asset, ranging from 5-7 years
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
171123000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
260116000
CY2021Q4 prld Available For Sale Debt Securities Accumulated Gross Unrealized Gain Net Of Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainNetOfTax
2000
CY2021Q4 prld Available For Sale Debt Securities Accumulated Gross Unrealized Loss Net Of Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossNetOfTax
713000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9757646
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7811090
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
172815000
CY2022Q4 prld Available For Sale Debt Securities Accumulated Gross Unrealized Gain Net Of Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainNetOfTax
7000
CY2022Q4 prld Available For Sale Debt Securities Accumulated Gross Unrealized Loss Net Of Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossNetOfTax
1699000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1263890
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
19.79
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8227000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5927000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3319000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1998000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4908000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3929000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5682000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4919000
CY2022Q4 prld Accrued Research And Development Liabilities Current
AccruedResearchAndDevelopmentLiabilitiesCurrent
6887000
CY2021Q4 prld Accrued Research And Development Liabilities Current
AccruedResearchAndDevelopmentLiabilitiesCurrent
4615000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
524000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
87000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13093000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9621000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7179482
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.36
CY2022 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
the Lease was amended to allow the Company the option to renew the Lease for two 6-month periods. The Company exercised its option to renew the lease for each additional 6 month period during 2022, and the lease term is now extended until December 31, 2023.
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P6M
CY2022 prld Operating Lease Estimated Incremental Borrowing Rate Percent
OperatingLeaseEstimatedIncrementalBorrowingRatePercent
0.095
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
5100000
CY2022 prld Reimbursements For Development Of Lab Space
ReimbursementsForDevelopmentOfLabSpace
5500000
CY2022 prld Reimbursements For Development Of Lab Space Period
ReimbursementsForDevelopmentOfLabSpacePeriod
P3Y
CY2022 prld Reimbursements For Development Of Lab Space Expiration Year
ReimbursementsForDevelopmentOfLabSpaceExpirationYear
2023
CY2022Q3 prld Additional Grant For Development Of Lab Space
AdditionalGrantForDevelopmentOfLabSpace
1000000.0
CY2022 prld Grant For Development Of Lab Space
GrantForDevelopmentOfLabSpace
3400000
CY2022 prld Rent Expense
RentExpense
2100000
CY2021 prld Rent Expense
RentExpense
1800000
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
600000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000
CY2022 prld Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25144000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20931000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6839091
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.46
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y2M1D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2600231
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
31.14
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
995950
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.52
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
574000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
587000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y7M28D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3884429
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.58
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
217905
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.78
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1455076
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
17.84
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9390930
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.08
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M21D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3593614
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.29
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y5M1D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10400000
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
6700000
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
9390930
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
3593614
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
66067000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
60495000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
15234000
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
11240000
CY2022Q4 prld Deferred Tax Assets In Research And Development Capitalization
DeferredTaxAssetsInResearchAndDevelopmentCapitalization
19900000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8725000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2448000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1190000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1290000
CY2022Q4 prld Deferred Tax Assets Tax Deferred Expense Lease Liabilities
DeferredTaxAssetsTaxDeferredExpenseLeaseLiabilities
511000
CY2021Q4 prld Deferred Tax Assets Tax Deferred Expense Lease Liabilities
DeferredTaxAssetsTaxDeferredExpenseLeaseLiabilities
485000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
111627000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
75958000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
111053000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
75371000
CY2022Q4 prld Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
500000
CY2021Q4 prld Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
476000
CY2022Q4 prld Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
74000
CY2021Q4 prld Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
111000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
574000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
587000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 prld Deferred Tax Assets In Research And Development Capitalization
DeferredTaxAssetsInResearchAndDevelopmentCapitalization
19900000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
35700000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
42500000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.066
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.077
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.035
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.035
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.058
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.309
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.380
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.006
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Tax Credit Carryforward Description
TaxCreditCarryforwardDescription
The NOL and tax credit carryforwards are subject to review and possible adjustment by the Internal Revenue Service and state tax authorities. NOL and tax credit carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant stockholders over a three year period in excess of 50%, as defined under Sections 382 and 383 of the Internal Revenue Code, respectively, as well as similar state provisions.
CY2022Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0
CY2022 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0

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