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Jun 30, 2023
Korro Bio Q2 2023 Earnings Report
Announced business updates and financial results for the second quarter ended June 30, 2023.
Key Takeaways
Frequency Therapeutics reported a net loss of $10.8 million for the second quarter of 2023, compared to a net loss of $21.3 million for the same period in 2022. The company's cash, cash equivalents, and marketable securities totaled $46.5 million as of June 30, 2023. Frequency Therapeutics entered into a definitive merger agreement with Korro Bio, Inc. and continues to explore strategic alternatives for its pre-clinical remyelination program for multiple sclerosis.
Entered into a definitive merger agreement with Korro Bio, Inc.
Cash, cash equivalents and marketable securities totaled $46.5 million as of June 30, 2023.
Research and development expenses were $4.6 million for the three months ended June 30, 2023.
Net loss was $10.8 million for the three months ended June 30, 2023.
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