Korro Reports First Quarter 2025 Financial Results and Provides Business Updates
Korro Bio (NASDAQ: KRRO) reported its Q1 2025 financial results and provided key business updates. The company announced a 20% workforce reduction and operational streamlining to extend cash runway into 2027, with expected one-time restructuring charges of $1.2 million. The company ended Q1 with $139.0 million in cash.
Key financial metrics include $2.6 million in collaboration revenue, R&D expenses of $19.7 million (up from $13.6M), and a net loss of $23.4 million. The company strengthened its leadership team with appointments of Loïc Vincent as CSO and GaoZhong Zhu as SVP of CMC.
Korro remains on track for an interim readout from Phase 1/2a REWRITE trial of KRRO-110 for Alpha-1 Antitrypsin Deficiency in H2 2025, with trial completion expected in 2026. The company continues executing its 3-2-1 strategy through 2027 and plans to announce a second development candidate in 2025.
Korro Bio (NASDAQ: KRRO) ha comunicato i risultati finanziari del primo trimestre 2025 e ha fornito aggiornamenti chiave sull'andamento aziendale. La società ha annunciato una riduzione del personale del 20% e una razionalizzazione operativa per estendere la liquidità fino al 2027, con oneri di ristrutturazione una tantum previsti pari a 1,2 milioni di dollari. Al termine del primo trimestre, la società disponeva di 139,0 milioni di dollari in contanti.
I principali indicatori finanziari includono 2,6 milioni di dollari di ricavi da collaborazioni, spese per ricerca e sviluppo pari a 19,7 milioni di dollari (in aumento rispetto a 13,6 milioni) e una perdita netta di 23,4 milioni di dollari. La società ha rafforzato il proprio team dirigenziale con la nomina di Loïc Vincent come CSO e GaoZhong Zhu come SVP di CMC.
Korro rimane in linea con l’obiettivo di un primo resoconto intermedio dello studio di Fase 1/2a REWRITE su KRRO-110 per la Deficienza di Alfa-1 Antitripsina nella seconda metà del 2025, con completamento previsto dello studio nel 2026. La società continua a portare avanti la sua strategia 3-2-1 fino al 2027 e prevede di annunciare un secondo candidato allo sviluppo nel 2025.
Korro Bio (NASDAQ: KRRO) informó sus resultados financieros del primer trimestre de 2025 y proporcionó actualizaciones clave del negocio. La compañía anunció una reducción del 20% en su plantilla y una optimización operativa para extender su liquidez hasta 2027, con cargos únicos por reestructuración estimados en 1,2 millones de dólares. Al cierre del primer trimestre, la empresa contaba con 139,0 millones de dólares en efectivo.
Las métricas financieras clave incluyen 2,6 millones de dólares en ingresos por colaboraciones, gastos en I+D de 19,7 millones de dólares (frente a 13,6 millones) y una pérdida neta de 23,4 millones de dólares. La compañía fortaleció su equipo directivo con los nombramientos de Loïc Vincent como CSO y GaoZhong Zhu como SVP de CMC.
Korro mantiene el rumbo para un informe intermedio del ensayo de Fase 1/2a REWRITE con KRRO-110 para la Deficiencia de Alfa-1 Antitripsina en la segunda mitad de 2025, con finalización del ensayo prevista para 2026. La empresa continúa ejecutando su estrategia 3-2-1 hasta 2027 y planea anunciar un segundo candidato en desarrollo en 2025.
Korro Bio(NASDAQ: KRRO)는 2025년 1분기 재무 실적을 발표하고 주요 사업 업데이트를 제공했습니다. 회사는 현금 유동성을 2027년까지 연장하기 위해 인력 20% 감축 및 운영 효율화 계획을 발표했으며, 일회성 구조조정 비용으로 120만 달러가 예상됩니다. 1분기 말 현금 보유액은 1억 3,900만 달러였습니다.
주요 재무 지표로는 260만 달러의 협력 수익, 연구개발비 1,970만 달러(이전 1,360만 달러 대비 증가), 순손실 2,340만 달러가 포함됩니다. 또한 Loïc Vincent를 CSO로, GaoZhong Zhu를 CMC 부사장(SVP)으로 임명하여 경영진을 강화했습니다.
Korro는 2025년 하반기에 알파-1 항트립신 결핍증 치료제 KRRO-110의 1/2a상 REWRITE 임상시험 중간 결과 발표를 목표로 순항 중이며, 임상 완료는 2026년으로 예상됩니다. 회사는 2027년까지 3-2-1 전략을 지속 실행하며 2025년에 두 번째 개발 후보 물질을 발표할 계획입니다.
Korro Bio (NASDAQ : KRRO) a publié ses résultats financiers du premier trimestre 2025 et a fourni des mises à jour clés sur ses activités. La société a annoncé une réduction de 20 % de ses effectifs et une rationalisation opérationnelle afin de prolonger sa trésorerie jusqu’en 2027, avec des charges exceptionnelles de restructuration estimées à 1,2 million de dollars. La société a terminé le premier trimestre avec 139,0 millions de dollars en liquidités.
Les indicateurs financiers clés comprennent 2,6 millions de dollars de revenus issus de collaborations, des dépenses de R&D de 19,7 millions de dollars (en hausse par rapport à 13,6 millions) et une perte nette de 23,4 millions de dollars. L’entreprise a renforcé son équipe dirigeante avec la nomination de Loïc Vincent en tant que CSO et de GaoZhong Zhu en tant que SVP CMC.
Korro reste en bonne voie pour un premier compte rendu intermédiaire de l’essai de phase 1/2a REWRITE du KRRO-110 pour le déficit en alpha-1 antitrypsine au second semestre 2025, avec une fin d’essai prévue en 2026. La société poursuit l’exécution de sa stratégie 3-2-1 jusqu’en 2027 et prévoit d’annoncer un second candidat au développement en 2025.
Korro Bio (NASDAQ: KRRO) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und gab wichtige Geschäftsinformationen bekannt. Das Unternehmen kündigte eine 20%ige Reduzierung der Belegschaft und eine operative Straffung an, um die Liquiditätsdauer bis 2027 zu verlängern, wobei einmalige Restrukturierungskosten von 1,2 Millionen US-Dollar erwartet werden. Zum Ende des ersten Quartals verfügte das Unternehmen über 139,0 Millionen US-Dollar in bar.
Wichtige Finanzkennzahlen umfassen 2,6 Millionen US-Dollar an Kooperationsumsätzen, F&E-Ausgaben von 19,7 Millionen US-Dollar (steigend von 13,6 Millionen) und einen Nettoverlust von 23,4 Millionen US-Dollar. Das Unternehmen hat sein Führungsteam mit der Ernennung von Loïc Vincent als CSO und GaoZhong Zhu als SVP CMC verstärkt.
Korro bleibt auf Kurs für ein Zwischenergebnis der Phase 1/2a REWRITE-Studie mit KRRO-110 zur Alpha-1-Antitrypsin-Mangel-Erkrankung in der zweiten Hälfte 2025, wobei der Abschluss der Studie für 2026 erwartet wird. Das Unternehmen setzt seine 3-2-1-Strategie bis 2027 fort und plant, 2025 einen zweiten Entwicklungskandidaten bekannt zu geben.
- Collaboration with Novo Nordisk generating revenue ($2.6M in Q1 2025)
- Strong cash position of $139.0M expected to fund operations into 2027
- 20% workforce reduction and operational streamlining to extend cash runway
- Expansion of REWRITE clinical trial into new geographies including US
- Strategic strengthening of leadership team with key appointments
- Increased net loss to $23.4M in Q1 2025 from $19.6M in Q1 2024
- Higher R&D expenses at $19.7M, up from $13.6M year-over-year
- One-time restructuring charges of $1.2M expected in Q2 2025
- Cash position decreased from $163.1M to $139.0M quarter-over-quarter
Insights
Korro's restructuring extends runway into 2027 while advancing AATD therapy, but increasing losses and workforce cuts signal financial pressures.
Korro Bio's Q1 2025 results present a strategic realignment to preserve capital while advancing key programs. The 20% workforce reduction, while concerning, appears calculated to extend cash runway into 2027 from their current
Their lead candidate KRRO-110 for Alpha-1 Antitrypsin Deficiency remains on track for interim data in H2 2025, representing their nearest potential value inflection point. AATD affects approximately 1 in 2,500 individuals and current treatments focus on symptom management rather than addressing the underlying genetic cause, creating a substantial market opportunity for effective genetic therapies.
Financially, the
Korro's OPERA™ platform targeting RNA editing represents an innovative approach with potential applications across multiple diseases. The executive appointments of industry veterans with experience bringing multiple drugs to market strengthen their development capabilities, particularly important as they prepare to nominate their second development candidate by year-end.
The critical question remains whether their strategic "3-2-1" plan (three clinical programs in two tissue types) can be executed within their financial constraints, making the upcoming KRRO-110 readout particularly consequential for validating both their platform technology and business model.
| — | Interim readout from Phase 1/2a REWRITE clinical trial of KRRO-110 for Alpha-1 Antitrypsin Deficiency (AATD) on track for the second half of 2025 |
| — | Streamlining operations and focusing on delivering potential value generating program milestones, with workforce reduction of approximately |
| — | Second development candidate expected to be announced in 2025 |
| — | Ended first quarter 2025 with |
CAMBRIDGE, Mass., May 07, 2025 (GLOBE NEWSWIRE) -- Korro Bio, Inc. (Korro) (Nasdaq: KRRO), a clinical-stage biopharmaceutical company focused on developing a new class of genetic medicines based on editing RNA for both rare and highly prevalent diseases, today reported financial results for the first quarter of 2025 and provided a business update.
Ram Aiyar, Ph.D., CEO and President of Korro, said, “We remain on track to achieve our clinical and pipeline milestones, most notably reporting interim data from our Phase 1/2a REWRITE clinical trial of KRRO-110 in the second half of 2025. We believe that KRRO-110 represents a groundbreaking therapy with best-in-class potential for patients with AATD. At the same time, we remain focused on executing our 3-2-1 strategy through 2027 with the goal of developing novel genetic medicines to improve lives of patients with rare and highly prevalent diseases.”
Streamlining Operations and Workforce Reduction:
- Streamlining operations and workforce reduction enables potential value generating program milestones. Korro is streamlining its operations across the organization and reducing its workforce by approximately
20% to advance its programs to key value inflection points, including completing the Phase 1/2a REWRITE clinical trial in 2026, nominating a second development candidate, and advancing up to two programs under the collaboration with Novo Nordisk. Korro estimates that it will incur one-time restructuring charges of approximately$1.2 million including employee severance, benefits and related termination costs, the majority of which Korro expects to recognize during the second quarter of 2025.
“Streamlining the organization is essential to enable Korro’s long-term success. We will continue to prioritize the development of KRRO-110 while making focused investments in our OPERA platform to efficiently advance innovation. The reduction in our workforce was not an easy decision, and we are committed to supporting our current and former employees during this transition,” said Todd Chappell, COO of Korro.
Pipeline and Business Updates:
- Continue to advance the Phase 1/2a REWRITE clinical trial of KRRO-110 for AATD. Korro received regulatory approval to expand the REWRITE clinical trial in New Zealand, and continues to progress enrollment, site activation and expansion into other geographies beyond Australia and New Zealand, including the United States. An interim readout is expected in the second half of 2025 and trial completion is expected in 2026.
- Executing 3-2-1 strategy through end of 2027. Korro continues to execute the 3-2-1 strategy with the goal of establishing three clinical-stage development programs, targeting two tissue types by leveraging the capabilities of its Oligonucleotide Promoted Editing of RNA (OPERA™) platform.
- Strengthened leadership team with appointments of Loïc Vincent, Ph.D., as Chief Scientific Officer and GaoZhong Zhu, Ph.D., as Senior Vice President of Chemistry, Manufacturing and Controls. Dr. Vincent joins Korro with more than 20 years in drug discovery and translational research across academia, biotech and the pharmaceutical industry. Throughout his career, Dr. Vincent led teams that advanced more than 20 drugs into clinical development based on various therapeutic modalities including small molecules, biologics, viral platforms and cell therapies. Dr. Zhu has more than 25 years of industrial experience in developing and implementing CMC strategies for various types of pharmaceuticals, with a proven track record of bringing new products from conception to commercialization, further reinforcing Korro’s commitment to advancing its innovative pipeline.
- Current pipeline and collaboration with Novo Nordisk continue to progress. In addition to advancing KRRO-110 for AATD and its second program, Korro continues to execute on its CNS programs and its collaboration with Novo Nordisk. Under the Novo Nordisk collaboration, Korro is working to advance up to two programs through preclinical development using its proprietary OPERA™ platform, with the initial target intended to treat cardiometabolic diseases.
Anticipated Upcoming Milestones:
- Interim readout from Phase 1/2a REWRITE clinical trial of KRRO-110 for AATD expected in the second half of 2025, and completion of the REWRITE clinical trial expected in 2026.
- Korro expects to nominate a development candidate by the end of 2025 for its rare metabolic disorder program targeting the liver (GalNAc) with subcutaneous delivery to create de novo protein variants.
- Progress partnership with Novo Nordisk in cardiometabolic diseases with high prevalence.
First Quarter 2025 Financial Results:
Cash Position: Cash, cash equivalents and marketable securities were
Collaboration Revenue: There was
Research and Development (R&D) Expenses: R&D expenses were
General and Administration (G&A) Expenses: G&A expenses were
Net Loss: Korro’s net loss was
About REWRITE
REWRITE is a two-part single and multiple dose-escalating study that will evaluate the safety and tolerability of KRRO-110, in up to 64 participants, including healthy adults and clinically stable AATD patients with the PiZZ genotype. Secondary and exploratory endpoints include pharmacokinetic and pharmacodynamic parameters that will guide optimal dose selection for later stage studies. Interim data from Part 1 (single ascending doses in healthy volunteers and individuals with AATD) is expected in the second half of 2025, and completion of the study is anticipated in 2026. For additional information about the REWRITE study, visit ClinicalTrials.gov (NCT06677307).
About Alpha-1 Antitrypsin Deficiency (AATD) and KRRO-110
AATD is a genetic disorder most commonly caused by a single missense mutation (G-to-A) in the SERPINA1 gene. Affected adults experience pulmonary emphysema and/or hepatic cirrhosis, as well as end organ manifestations. KRRO-110 is the first RNA editing oligonucleotide product candidate from Korro’s proprietary RNA editing platform, Oligonucleotide Promoted Editing of RNA (OPERA™). KRRO-110, a potential best-in-class compound based on preclinical data, is designed to co-opt an endogenous enzyme, Adenosine Deaminase Acting on RNA (ADAR), to edit the “A” variant on SERPINA1 RNA, repair an amino acid codon, and restore secretion of normal AAT protein. This repair of the endogenous protein has the potential to clear protein aggregates from within liver cells to create a potentially clinically differentiated benefit for liver function and to preserve lung function by providing an adequate amount of normal AAT protein.
About Korro
Korro is a clinical-stage biopharmaceutical company focused on developing a new class of genetic medicines based on editing RNA for both rare and highly prevalent diseases. Korro is generating a portfolio of differentiated programs that are designed to harness the body’s natural RNA editing process, enabling a precise yet transient single base edit. By editing RNA instead of DNA, Korro is expanding the reach of genetic medicines by delivering additional precision and tunability, which has the potential for increased specificity and improved long-term tolerability. Using an oligonucleotide-based approach, Korro expects to bring its medicines to patients by leveraging its proprietary platform with precedented delivery modalities, manufacturing know-how, and established regulatory pathways of approved oligonucleotide drugs. Korro is based in Cambridge, Massachusetts. For more information, visit korrobio.com.
Korro intends to use its Investor Relations website, LinkedIn, and X (Twitter) as means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Korro’s Investor Relations website and follow @KorroBio on LinkedIn, and X (Twitter), in addition to following Korro’s press releases, SEC filings, public conference calls, presentations, and webcasts.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, but are not limited to, express or implied statements regarding expectations, hopes, beliefs, intentions or strategies of Korro regarding the future including, without limitation, express or implied statements regarding: the timing of data readouts and completion of the Phase 1/2a REWRITE clinical trial; enrollment and expansion of the Phase 1/2a REWRITE clinical trial; execution of the 3-2-1 strategy; timing of nomination and target of a second development candidate; Korro’s cash runway and uses thereof; KRRO-110’s best-in-class potential; the costs of Korro’s workforce reduction and organizational streamlining, and the benefits thereof; and Korro’s collaboration with Novo Nordisk; among others. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including risks of realizing the benefits of its workforce reduction and organizational streamlining; estimating the costs of such workforce reduction and organizational streamlining; the impact of the workforce reduction and organizational streamlining on operations; risks of conducting a clinical trial; risks associated with regulatory oversight of clinical trials, enrollment risks and risks of expanding to other jurisdictions along with other risks inherent in biopharmaceutical development; risks associated with pre-clinical studies and clinical trials; and other risks associated with obtaining regulatory approvals and protecting intellectual property; as well as risks associated with general economic conditions (including recent geopolitical uncertainty and potential supply chain disruptions due to changes in economic policy); and other risks and uncertainties indicated from time to time in Korro’s filings with the SEC, including Part I Item 1A. “Risk Factors” in Korro’s Quarterly Report on Form 10-Q filed with the SEC on the date hereof, as such may be amended or supplemented by its other filings with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, Korro does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Korro.
Korro Bio Contact Information
Investor & Media Contact
IR@korrobio.com
| Korro Bio, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue: | ||||||||
| Collaboration revenue | $ | 2,550 | $ | — | ||||
| Operating expenses: | ||||||||
| Research and development | 19,739 | 13,572 | ||||||
| General and administrative | 7,831 | 7,881 | ||||||
| Total operating expenses | 27,570 | 21,453 | ||||||
| Loss from operations | (25,020 | ) | (21,453 | ) | ||||
| Other income: | ||||||||
| Other income, net | 1,633 | 1,913 | ||||||
| Total other income, net | 1,633 | 1,913 | ||||||
| Loss before provision for income taxes | (23,387 | ) | (19,540 | ) | ||||
| Provision for income taxes | — | (17 | ) | |||||
| Net loss | $ | (23,387 | ) | $ | (19,557 | ) | ||
| Other comprehensive income | ||||||||
| Unrealized gain on available-for-sale investments | (3 | ) | — | |||||
| Foreign currency translation adjustments, net | (1 | ) | — | |||||
| Comprehensive loss | $ | (23,391 | ) | $ | (19,557 | ) | ||
| Net loss per share, basic and diluted | $ | (2.49 | ) | $ | (2.44 | ) | ||
| Weighted-average shares used in computing net loss per share, basic and diluted | 9,384,266 | 8,019,626 | ||||||
| Korro Bio, Inc. Selected Condensed Consolidated Balance Sheet Data (in thousands) (unaudited) | ||||||||
| March 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Cash, cash equivalents and marketable securities | $ | 138,992 | $ | 163,054 | ||||
| Working capital (1) | 108,354 | 116,572 | ||||||
| Total assets | 202,207 | 226,240 | ||||||
| Total liabilities | 63,250 | 65,825 | ||||||
| Total stockholders' equity | 138,957 | 160,415 | ||||||
| (1) Working capital is defined as current assets less current liabilities. | ||||||||
FAQ
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