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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.
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.
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