Prelude Therapeutics

Prelude Therapeutics
Prelude Therapeutics
Company Information
Company Description

Prelude Therapeutics is a clinical-stage precision oncology company focused on discovering and developing small molecule therapies optimized to target the key drivers of cancer cell growth, resistance, and survival.

Industries
Biopharma, Biotechnology, Pharmaceutical, Therapeutics

Please note, it is important to assess the company’s business activities against Section 1202(e)(3) which specifies certain industries that are not considered a “qualified trade or business.”

Entity Type
C Corporation

A C corporation is a qualified legal entity for QSBS.

Incorporation Date

2016

Incorporation State
Delaware
Qualified Small Business Stock (QSBS) Details

Exemption Level

Given the Company was incorporated after September 27, 2010, all shares could be eligible for up to a 100% tax exclusion if the other QSBS criteria are met.

Any individual owning stock purchased or received directly from the company could potentially be eligible for the QSBS capital gains tax exclusion or the Section 1045 gain rollover if the QSBS standards as per IRC Section 1202 were met at the time of issuance.

In order to assess whether stock issued previously may qualify, the Company would also have to have not taken actions that invalidate QSBS status such as a certain level of redemptions, and would have to satisfy the active business requirement.

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IPO Details
IPO Date
Symbol
PRLD
IPO Raised
$157,700,000.00
IPO Price
$19.00
IPO Date Adjusted Closing Price
$26.20

This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.