04:05 PM EDT, 08/12/2024 (MT Newswires) -- Prelude Therapeutics ( PRLD ) shares were down nearly 8% in recent trading on Monday after the company posted a wider-than-expected Q2 net loss.

The company reported a Q2 net loss of $0.46 per diluted share, narrowing from a loss of $0.54 a year earlier. Three analysts polled by Capital IQ expected a loss of $0.44.

Prelude Therapeutics ( PRLD ) didn't report any revenue during the quarter ended June 30.

As of June 30, the company said it had $179.8 million in cash and cash equivalents, and marketable securities, which will fund Prelude's operations into 2026.

Price: 4.70, Change: -0.40, Percent Change: -7.84