TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo September 4, 2020 Kris Vaddi, Ph.D. Chief Executive Officer Prelude Therapeutics Incorporated 200 Powder Mill Road Wilmington, DE 19803 Re: Prelude Therapeutics Incorporated Amendment No. 1 to Draft Registration Statement on Form S-1 Submitted August 26, 2020 CIK No. 0001678660 Dear Dr. Vaddi: We have reviewed your amended draft registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by providing the requested information and either submitting an amended draft registration statement or publicly filing your registration statement on EDGAR. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing the information you provide in response to these comments and your amended draft registration statement or filed registration statement, we may have additional comments. Amendment No. 1 to Draft Registration Statement on Form S-1 Description of Capital Stock, page 171 1. We note that you have revised the prospectus to reflect dual classes of common stock and state on page 171 that holders of non-voting common stock have the right to convert each share of non-voting common stock into one share of voting common stock at such holder s election. In addition, we note that the 9.99% ownership limitation related to any conversion may be "increased (not to exceed 19.99%) or decreased to any other percentage designated by such holder of non-voting common stock upon 61 days' notice". Please add a risk factor addressing the potential dilutive effective of such conversion rights and the impact of the potential increase in the 9.99% ownership limitation. Kris Vaddi, Ph.D. FirstName LastNameKris Vaddi, Ph.D. Prelude Therapeutics Incorporated Comapany 4, September NamePrelude 2020 Therapeutics Incorporated September Page 2 4, 2020 Page 2 FirstName LastName Audited Financial Statements as of December 31, 2018 and 2019 and for the Years then Ended Note 3. Summary of Significant Accounting Policies Net Loss Per Share and Unaudited Pro Forma Net Loss Per Share, page F-11 2. Refer to your response to our prior comment eleven. Please explain to us your consideration of your Series C Convertible Preferred Stock, issued in August 2020, in your presentation of pro forma net loss per share, or revise accordingly. You may contact Rolf Sundwall at 202-551-3105 or Jeanne Baker at 202-551-3691 if you have questions regarding comments on the financial statements and related matters. Please contact Jeffrey Gabor at 202-551-2544 or Laura Crotty at 202-551-7614 with any other questions. Sincerely, Division of Corporation Finance Office of Life Sciences cc: Rob Freedman, Esq.