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Mar 31, 2023
Korro Bio Q1 2023 Earnings Report
Announced first quarter 2023 financial results and provided business updates.
Key Takeaways
Frequency Therapeutics reported a net loss of $19.5 million for the first quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $66.7 million as of March 31, 2023, and they believe their restructuring activities will extend their runway into 2025 and enable them to complete a first clinical trial of their MS Program.
Advanced program for remyelination in multiple sclerosis and remain on track to commence clinical program in the first half of 2024.
Novel compounds can drive oligodendrocyte differentiation in evolutionarily distinct species, furthering ability to predict human doses.
Demonstrated statistical improvements in MRI measurements of white matter volume in independently conducted preclinical studies.
Following recent restructuring, the Company has funding into 2025, which will allow it to complete an initial clinical study for its remyelination in MS program.
Forward Guidance
Frequency Therapeutics is focused on advancing its MS program through clinical studies and beyond, while working to maximize returns for its shareholders. The company believes that the restructuring activities will generate sufficient cost savings to extend its runway into 2025 and enable it to complete a first clinical trial of its MS Program.
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