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Dec 30, 2024
Korro Bio Q4 2024 Earnings Report
Korro Bio reported its full year 2024 financial results and provided business updates.
Key Takeaways
Korro Bio initiated its Phase 1/2a REWRITE clinical study for KRRO-110, received Orphan Drug Designation for AATD, and strengthened its financial position with $163.1 million in cash, cash equivalents, and marketable securities, extending its cash runway into the second half of 2026.
Completed dosing of the first two cohorts in Phase 1/2a REWRITE Clinical Study of KRRO-110 for Alpha-1 Antitrypsin Deficiency (AATD), with interim readout expected in the second half of 2025.
Received U.S. Food and Drug Administration (FDA) Orphan Drug Designation for KRRO-110 for the treatment of AATD.
Ended 2024 with a strong balance sheet of $163.1 million in cash, cash equivalents, and marketable securities, providing a cash runway into the second half of 2026.
Progressed collaboration with Novo Nordisk and plans to announce a second development candidate by the end of 2025.
Korro Bio
Korro Bio
Forward Guidance
Korro Bio anticipates key milestones including interim data readout from the REWRITE clinical study in H2 2025, nomination of a second development candidate by end of 2025, and continued progress in its collaboration with Novo Nordisk.
Positive Outlook
- Interim readout from Phase 1/2a REWRITE clinical study of KRRO-110 for AATD expected in the second half of 2025.
- Completion of the REWRITE clinical study expected in 2026.
- Expects to nominate a development candidate for its rare metabolic disorder program targeting the liver (GalNAc) with subcutaneous delivery to create de novo protein variants by the end of 2025.
- Progress partnership with Novo Nordisk in cardiometabolic diseases with high prevalence.
- Cash runway into the second half of 2026 expected to fund KRRO-110 through completion of the Phase 1/2a REWRITE clinical study and progress additional product candidates.
Challenges Ahead
- Risks of conducting a clinical study.
- Risks associated with regulatory oversight of clinical studies.
- Enrollment risks and risks of expanding to other jurisdictions.
- Risks inherent in biopharmaceutical development, including pre-clinical and clinical studies.
- Risks associated with obtaining regulatory approvals and protecting intellectual property.