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Mar 31, 2024
Korro Bio Q1 2024 Earnings Report
Korro Bio reported its first quarter 2024 financial results and the appointment of Kemi Olugemo, M.D. as Chief Medical Officer.
Key Takeaways
Korro Bio reported its Q1 2024 financial results, highlighting a strengthened cash position with a $70.0 million private placement, progress towards regulatory filing for KRRO-110, and the appointment of Dr. Kemi Olugemo as Chief Medical Officer. Cash and cash equivalents were $138.8 million as of March 31, 2024 and the company anticipates a regulatory filing for KRRO-110 in AATD in the second half of 2024.
On track for regulatory filing for First-in-Human (FIH) study of KRRO-110 in patients with Alpha-1 Antitrypsin Deficiency (AATD) anticipated in the second half of 2024.
Further strengthened balance sheet with closing of $70.0 million private placement (PIPE) on April 22, 2024, with cash and cash equivalents of approximately $206.0 million at close.
Cash runway into second half of 2026 to fund anticipated interim readout of KRRO-110 in the second half of 2025 and FIH study completion in 2026.
Appointed Kemi Olugemo, MD, FAAN, as Chief Medical Officer.
Forward Guidance
Korro anticipates regulatory filing for KRRO-110 in AATD in the second half of 2024, interim Phase 1/2 clinical trial readout for KRRO-110 in the second half of 2025 and completion of the Phase 1/2 clinical trial for KRRO-110 expected in 2026.
Positive Outlook
- Regulatory filing for KRRO-110 in AATD on track for the second half of 2024.
- Anticipated interim Phase 1/2 clinical trial readout for KRRO-110 in the second half of 2025.
- Completion of the Phase 1/2 clinical trial for KRRO-110 expected in 2026.
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