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Korro Bio (NasdaqCM:KRRO) FY Earnings Call Presentation
2026-01-15 18:30
Pipeline and Milestones - Korro Bio anticipates a regulatory filing for KRRO-121 in the second half of 2026 [26, 55] - The company expects to nominate a development candidate (DC) for its GalNAc-conjugated AATD program in the first half of 2026 [26, 55] - A development candidate is also expected for a third GalNAc-conjugated liver asset in the second half of 2026 [26, 55] KRRO-121 for Hyperammonemia - KRRO-121 targets hyperammonemia by stabilizing an intracellular protein in the liver to enhance ammonia clearance capacity [36, 39] - The addressable patient population for KRRO-121 includes 4,200 U S patients with Urea Cycle Disorders (UCD) and 80,000 U S patients with Hepatic Encephalopathy (HE) [37] - The market opportunity for KRRO-121 is estimated at $1 5 billion for UCD and $2 billion+ for HE [37] AATD Program - Korro Bio terminated the REWRITE clinical trial for KRRO-110 in AATD [27, 42] - The company achieved >90% editing of the SERPINA1 transcript using GalNAc delivery in vivo [43] AMPK Activation for Liver Function - In obese mice, approximately 20% editing was sufficient to normalize liver function and reduce body weight [47] Financial Runway - Korro Bio's cash runway extends into the second half of 2027 [14, 55]
Korro to Present at the 44th Annual J.P. Morgan Healthcare Conference
Globenewswire· 2026-01-08 13:00
Core Viewpoint - Korro Bio, Inc. is set to present at the 44th Annual J.P. Morgan Healthcare Conference, highlighting its focus on developing innovative genetic medicines through RNA editing [1]. Company Overview - Korro Bio is a biopharmaceutical company dedicated to creating a new class of genetic medicines aimed at treating both rare and common diseases [3]. - The company is developing a portfolio of programs that utilize the body's natural RNA editing process, allowing for precise and transient single base edits [3]. - By focusing on RNA editing rather than DNA, Korro aims to enhance the precision and tunability of genetic medicines, potentially leading to improved specificity and long-term tolerability [3]. - Korro plans to leverage its proprietary platform, established regulatory pathways, and manufacturing expertise to bring its oligonucleotide-based medicines to patients [3]. Investor Relations - Korro intends to use its Investor Relations website, LinkedIn, and X (Twitter) for disclosing material nonpublic information and fulfilling its disclosure obligations under Regulation FD [4]. - Investors are encouraged to monitor Korro's Investor Relations website and follow its social media channels for updates and information [4].
Morning Market Movers: CDTX, BCG, IVVD, TSSI See Big Swings
RTTNews· 2025-11-14 12:04
Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders before the market opens [1] Premarket Gainers - Cidara Therapeutics, Inc. (CDTX) is up 91% at $203.18 - Binah Capital Group, Inc. (BCG) is up 45% at $2.07 - Invivyd, Inc. (IVVD) is up 42% at $2.52 - Omeros Corporation (OMER) is up 15% at $7.25 - The Oncology Institute, Inc. (TOI) is up 12% at $3.47 - AlphaVest Acquisition Corp (ATMV) is up 11% at $7.99 - ARB IOT Group Limited (ARBB) is up 7% at $7.31 - Hyperion DeFi, Inc. (HYPD) is up 6% at $5.27 - TruGolf Holdings, Inc. (TRUG) is up 6% at $2.02 - Boqii Holding Limited (BQ) is up 5% at $2.24 [3] Premarket Losers - TSS, Inc. (TSSI) is down 40% at $9.12 - StubHub Holdings, Inc. (STUB) is down 20% at $15.02 - ESS Tech, Inc. (GWH) is down 20% at $3.38 - Red Cat Holdings, Inc. (RCAT) is down 17% at $6.38 - WhiteFiber, Inc. (WYFI) is down 15% at $16.81 - New Era Energy & Digital, Inc. (NUAI) is down 13% at $3.66 - NET Power Inc. (NPWR) is down 11% at $2.62 - Korro Bio, Inc. (KRRO) is down 9% at $5.90 - Anavex Life Sciences Corp. (AVXL) is down 8% at $5.20 - Interactive Strength Inc. (TRNR) is down 5% at $2.47 [4]
Korro Bio Early Trial Results Fall Short; Stock Hits New Low
Benzinga· 2025-11-13 19:26
Core Insights - Korro Bio, Inc. (NASDAQ:KRRO) is experiencing a significant decline in stock price, down 80% to $6.27, with a trading volume of 6.68 million shares compared to the average of 1.42 million shares [1][8] - The company provided an update on its Phase 1/2a REWRITE clinical trial for KRRO-110, which targets alpha-1 antitrypsin deficiency (AATD) [1][2] - KRRO-110 successfully generated functional M-AAT protein in AATD patients, but the protein levels achieved were below preclinical projections [2][3] Clinical Trial Results - In a study involving five AATD patients, the peak total AAT protein reached approximately 10 µM, with a maximum increase from baseline of about 3 µM [3] - The total AAT protein levels did not meet the protective threshold of 11 µM, although no serious adverse events were reported [3] Strategic Restructuring - The company is implementing a strategic restructuring that includes a workforce reduction of approximately 34% to focus on generating clinical data and advancing liver-targeted programs [4][6] - This restructuring is expected to extend the company's cash runway into the second half of 2027, with cash and marketable securities reported at $102.5 million [6] Future Development Plans - Korro has nominated KRRO-121 as the next development candidate for hyperammonemia, with regulatory filing anticipated in the second half of 2026 [5] - The company amended its collaboration agreement with Novo Nordisk, establishing a 12-month pause to reassess the current research program [5] Analyst Commentary - William Blair downgraded Korro shares from Outperform to Market Perform, citing concerns over the non-competitive clinical profile of KRRO-110 despite the validation of ADAR-mediated editing [7] - The analyst expressed continued interest in Korro's expansion into urea cycle disorders with KRRO-121 but noted the company's shift back to a preclinical stage [7]
Korro Bio, Inc. (KRRO) Reports Q3 Loss, Lags Revenue Estimates
ZACKS· 2025-11-12 23:41
Core Insights - Korro Bio, Inc. reported a quarterly loss of $1.92 per share, which was better than the Zacks Consensus Estimate of a loss of $2.61, representing an earnings surprise of +26.44% [1] - The company generated revenues of $1.09 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 27.33%, compared to zero revenues a year ago [2] - The stock has underperformed the market, losing about 13.8% since the beginning of the year, while the S&P 500 gained 16.4% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$2.42 on revenues of $1.5 million, and for the current fiscal year, it is -$10.26 on revenues of $4.84 million [7] - The estimate revisions trend for Korro Bio, Inc. was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Medical - Drugs industry, to which Korro Bio, Inc. belongs, is currently in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Nutriband Inc. (NTRB), is expected to report a quarterly loss of $2.13 per share, with revenues projected at $0.68 million, reflecting a year-over-year increase of 4.6% [9]
Korro Bio(KRRO) - 2025 Q3 - Quarterly Report
2025-11-12 21:09
Financial Performance - The company reported a net loss of $67.2 million for the nine months ended September 30, 2025, compared to a net loss of $62.4 million for the same period in 2024, with an accumulated deficit of $333.8 million as of September 30, 2025[101]. - The net loss for the three months ended September 30, 2025, was $18.1 million, an improvement from a loss of $21.0 million in 2024, while the nine-month net loss was $67.2 million compared to $62.4 million in 2024[126]. - The company expects to continue incurring significant expenses and operating losses for the foreseeable future as it advances its pipeline candidates[129]. Revenue and Collaboration - The company recognized $5.1 million in collaboration revenue during the nine months ended September 30, 2025, related to a research collaboration with Novo Nordisk, with no collaboration revenue recognized in the same period of 2024[105]. - Collaboration revenue for the three months ended September 30, 2025, was $1.1 million, and for the nine months, it was $5.1 million, compared to no collaboration revenue in the same periods of 2024[118]. - A 12-month pause on collaboration with Novo Nordisk was agreed upon in November 2025, leading to no expected material collaboration revenue during this period[118]. - The company has not generated any revenue from product sales and does not expect to do so in the near future, relying on financing through public or private offerings and collaboration agreements[102]. Expenses and Costs - Research and development expenses decreased to $13.8 million for the three months ended September 30, 2025, from $16.0 million in 2024, while for the nine months, expenses increased to $54.6 million from $46.7 million[120]. - General and administrative expenses were $6.5 million for the three months ended September 30, 2025, down from $7.3 million in 2024, and for the nine months, they were $22.0 million compared to $22.2 million in 2024[121]. - The company has incurred significant operating losses since inception and expects to continue incurring significant and increasing expenses and operating losses for the foreseeable future as it advances product candidates through clinical development[101]. Cash Flow and Financing - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $102.5 million, expected to fund operations into the second half of 2027[128]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $60.9 million, compared to $52.6 million in 2024[133]. - Net cash used in investing activities was $29.1 million for the nine months ended September 30, 2025, mainly from proceeds of marketable securities maturities[136]. - Net cash provided by financing activities was $0.3 million for the nine months ended September 30, 2025, consisting of proceeds from exercises of stock options[138]. - The company has raised approximately $223.6 million from the sale of convertible preferred stock and $117.3 million from common stock sales since inception[100]. Strategic Initiatives - The company implemented a strategic restructuring in November 2025, including a workforce reduction of approximately 34%, with estimated one-time restructuring charges of about $2.4 million[99]. - The company plans to submit a regulatory filing for the first-in-human trial of KRRO-121 in the second half of 2026, targeting urea cycle disorders and hepatic encephalopathy[97]. - KRRO-110 did not reach projected levels of functional protein following a single administration, and the company is pivoting to GalNAc delivery for AATD, expecting to nominate a development candidate in 2025[95]. Designations and Risk - The company has received Fast Track designation and Orphan Drug Designation from the FDA for its RNA editing technology, which is the first to receive investigational new drug application clearance[103]. - The company is classified as a "smaller reporting company," allowing for reduced disclosure obligations[143]. - The company has minimal exposure to foreign currency risk due to short transaction durations[146]. - An immediate 10% change in market interest rates would not materially affect the fair market value of cash or cash equivalents[145].
Korro Bio(KRRO) - 2025 Q3 - Quarterly Results
2025-11-12 21:08
Financial Performance - Korro ended Q3 2025 with $102.5 million in cash, cash equivalents, and marketable securities, down from $163.1 million at the end of 2024, extending cash runway into the second half of 2027[12] - Korro reported a net loss of $18.1 million for Q3 2025, an improvement from a net loss of $21.0 million in Q3 2024[15] - Net loss for the three months ended September 30, 2025, was $18.06 million, compared to a net loss of $20.99 million for the same period in 2024[24] - Total operating expenses for the three months ended September 30, 2025, were $20.33 million, a decrease of 13% from $23.29 million in the same period of 2024[24] - The comprehensive loss for the nine months ended September 30, 2025, was $67.27 million, compared to $61.81 million for the same period in 2024[24] - Other income for the three months ended September 30, 2025, was $1.18 million, compared to $2.28 million for the same period in 2024[24] Revenue and Expenses - Collaboration revenue for Q3 2025 was $1.1 million, compared to no collaboration revenue in Q3 2024, attributed to the partnership with Novo Nordisk[13] - G&A expenses were $6.5 million in Q3 2025, down from $7.3 million in Q3 2024, mainly due to a decrease in professional services expenses[15] - R&D expenses decreased to $13.8 million in Q3 2025 from $16.0 million in Q3 2024, primarily due to reduced external expenses related to KRRO-110[14] - Research and development expenses for the nine months ended September 30, 2025, increased to $54.59 million, up 17% from $46.67 million in the same period of 2024[24] Assets and Equity - Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $102.49 million, down from $163.05 million as of December 31, 2024[26] - Total assets decreased to $161.55 million as of September 30, 2025, from $226.24 million as of December 31, 2024[26] - Total stockholders' equity as of September 30, 2025, was $99.03 million, down from $160.42 million as of December 31, 2024[26] Clinical Development - KRRO-110 produced functional M-AAT protein in AATD patients, but did not reach the projected protein levels based on preclinical data[5] - The company plans to nominate a development candidate for a GalNAc-conjugated construct for AATD in the first half of 2026[5] - Korro has nominated KRRO-121 for hyperammonemia treatment, with regulatory filing anticipated in the second half of 2026[10] - The REWRITE clinical trial has completed all six planned single ascending dose cohorts in healthy volunteers, with no dose-limiting toxicities observed[6] Strategic Changes - A strategic restructuring will reduce the workforce by approximately 34%, with one-time restructuring charges estimated at $2.4 million[10]
Korro Reports Third Quarter Financial Results, Provides Updates on KRRO-110 in Alpha-1 Antitrypsin Deficiency and Additional Pipeline Programs
Globenewswire· 2025-11-12 21:05
Core Insights - Korro Bio, Inc. has provided updates on its Phase 1/2a REWRITE clinical trial for KRRO-110, reported third-quarter financial results, and outlined strategic business decisions [1][5]. Clinical Trial Update - KRRO-110 successfully generated functional M-AAT protein in patients with Alpha-1 Antitrypsin Deficiency (AATD), although the protein levels were below preclinical projections [2][5]. - The REWRITE trial has completed all six planned single ascending dose cohorts in healthy volunteers, with no dose-limiting toxicities observed [4][7]. - The trial is currently evaluating KRRO-110 in two AATD patient cohorts at doses of 0.6 mg/kg and 0.8 mg/kg [4][7]. Development Candidates - Korro has nominated KRRO-121, a GalNAc-conjugated construct aimed at treating hyperammonemia, marking an expansion of its RNA editing platform [3][5]. - The company plans to advance KRRO-121 and a GalNAc version for AATD patients into clinical trials in the second half of 2026 and 2027, respectively [3][5]. Financial Results - As of September 30, 2025, Korro reported cash, cash equivalents, and marketable securities totaling $102.5 million, down from $163.1 million at the end of 2024 [12][26]. - Collaboration revenue for the third quarter of 2025 was $1.1 million, compared to no revenue in the same period of 2024 [13]. - Research and development expenses decreased to $13.8 million from $16.0 million year-over-year, while general and administrative expenses also saw a decline [14][15]. Strategic Restructuring - The company is implementing a strategic restructuring that will reduce its workforce by approximately one-third to focus on generating clinical data and advancing GalNAc-conjugated programs [3][18]. - This restructuring is expected to extend Korro's cash runway into the second half of 2027, with one-time restructuring charges estimated at $2.4 million [18]. Regulatory Milestones - KRRO-110 has received Investigational New Drug clearance from the FDA, along with Fast Track and Orphan Drug Designations [7][19]. - The company is prioritizing high-potential GalNAc-conjugated programs targeting the liver, including KRRO-121 [7][8].
Korro to Participate in Upcoming Investor and Scientific Conferences
Globenewswire· 2025-09-02 20:30
Core Insights - Korro Bio, Inc. is actively participating in several investor and scientific conferences throughout September 2025, showcasing its commitment to engaging with the investment community and sharing insights on its innovative approaches in genetic medicine [1][2][3][4][5][6]. Company Overview - Korro Bio is a clinical-stage biopharmaceutical company focused on developing a new class of genetic medicines that utilize RNA editing to address both rare and prevalent diseases. The company aims to harness the body's natural RNA editing process for precise and transient single base edits, which may enhance specificity and long-term tolerability compared to traditional DNA editing methods [7]. Upcoming Events - Key management members, including Dr. Ram Aiyar (CEO), Dr. Loic Vincent (CSO), and Vineet Agarwal (CFO), will participate in various investor meetings and presentations at notable conferences such as: - Citi's 2025 Biopharma Back to School Conference on September 3, 2025 [1] - Cantor Global Healthcare Conference on September 4, 2025 [2] - Wells Fargo Securities Healthcare Conference on September 5, 2025 [3] - H.C. Wainwright 27th Annual Global Investment Conference and Morgan Stanley 23rd Annual Global Healthcare Conference on September 8, 2025 [4][5] - RNA Leaders USA Congress on September 11, 2025, where Mr. Todd Chappell will present on RNA editing therapies [6]. Communication Strategy - The company plans to utilize its Investor Relations website, LinkedIn, and X (Twitter) for disclosing material nonpublic information and fulfilling its disclosure obligations under Regulation FD. Investors are encouraged to monitor these platforms for updates [8].
Korro Bio(KRRO) - 2025 Q2 - Quarterly Report
2025-08-12 11:10
[PART I. FINANCIAL INFORMATION](index=7&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the periods ended June 30, 2025, including balance sheets, statements of operations, stockholders' equity, and cash flows, with accompanying notes [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$180.4 million** by June 30, 2025, from **$226.2 million** at year-end 2024, driven by reduced cash and securities, while the accumulated deficit grew to **$315.7 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $33,612 | $55,643 | | Total current assets | $102,634 | $131,532 | | Total assets | $180,425 | $226,240 | | **Liabilities & Stockholders' Equity** | | | | Total liabilities | $65,322 | $65,825 | | Accumulated deficit | $(315,743) | $(266,586) | | Total stockholders' equity | $115,103 | $160,415 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Collaboration revenue reached **$4.0 million** for the six months ended June 30, 2025, but increased research and development expenses led to a higher net loss of **$49.2 million** Statement of Operations Summary (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Collaboration revenue | $4,010 | $— | | Research and development | $40,770 | $30,710 | | General and administrative | $15,462 | $14,868 | | Loss from operations | $(52,222) | $(45,578) | | Net loss | $(49,157) | $(41,383) | | Net loss per share | $(5.24) | $(4.87) | [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased from **$160.4 million** at December 31, 2024, to **$115.1 million** at June 30, 2025, primarily due to the period's net loss - Total stockholders' equity decreased from **$160.4 million** at December 31, 2024, to **$115.1 million** at June 30, 2025, mainly due to the net loss incurred during the period[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$43.7 million** for H1 2025, while investing activities provided **$21.5 million**, a significant shift from the **$108.0 million** used in H1 2024 Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(43,680) | $(36,484) | | Net cash provided by (used in) investing activities | $21,481 | $(108,004) | | Net cash provided by financing activities | $177 | $67,695 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes confirm **$119.6 million** in cash and securities is sufficient for 12 months, detail **$4.0 million** in Novo Nordisk collaboration revenue, and disclose a May 2025 restructuring with a **19% workforce reduction** - The company believes its existing cash, cash equivalents, and marketable securities of **$119.6 million** as of June 30, 2025, are sufficient to fund planned operations for at least 12 months from the issuance date of the financial statements[31](index=31&type=chunk) - Under the collaboration agreement with Novo Nordisk, the company recognized **$4.0 million** in revenue for the six months ended June 30, 2025, with the total transaction price for the first program target estimated at **$39.9 million**[68](index=68&type=chunk) - On May 7, 2025, the company initiated a strategic plan that included a **19% workforce reduction** (21 positions), resulting in a one-time severance charge of **$1.2 million** during the second quarter[86](index=86&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's clinical-stage focus on RNA editing, with lead candidate KRRO-110 in Phase 1/2a trials, and highlights a **$10.1 million** increase in H1 2025 R&D expenses, confirming a cash runway into 2027 - The company's lead candidate, KRRO-110 for Alpha-1 Antitrypsin Deficiency (AATD), is in a Phase 1/2a clinical trial (REWRITE), with interim data from single ascending doses expected in the second half of 2025[92](index=92&type=chunk) Research and Development Expenses (Six Months Ended June 30, in thousands) | Expense Category | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | KRRO-110 (AATD) external expenses | $12,557 | $9,222 | $3,335 | | Other research & pre-development | $9,695 | $6,272 | $3,423 | | Personnel expenses | $13,018 | $9,551 | $3,467 | | **Total R&D Expenses** | **$40,770** | **$30,710** | **$10,060** | - As of June 30, 2025, the company had **$119.6 million** in cash, cash equivalents, and marketable securities, which is expected to be sufficient to fund operating expenses and capital expenditure requirements into 2027[122](index=122&type=chunk) - Net cash used in operating activities increased to **$43.7 million** for the six months ended June 30, 2025, from **$36.5 million** in the prior-year period, primarily due to a higher net loss and changes in operating assets and liabilities[129](index=129&type=chunk)[130](index=130&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate sensitivity on its **$119.6 million** cash and securities portfolio, which management deems immaterial, with foreign currency risk also considered minimal - The company's main market risk is interest rate sensitivity on its portfolio of cash, cash equivalents, and marketable securities, valued at **$119.6 million** as of June 30, 2025[139](index=139&type=chunk) - Management believes that an immediate **10% change** in market interest rates would not have a material effect on the fair market value of its cash and investments[139](index=139&type=chunk) - Exposure to foreign currency risk is considered minimal as operations are primarily in the U.S. and contracts in foreign currencies are of short duration[140](index=140&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, confirmed the effectiveness of disclosure controls and procedures as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Management, with the participation of the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective at the reasonable assurance level as of June 30, 2025[142](index=142&type=chunk) - No changes in internal control over financial reporting occurred during the most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[143](index=143&type=chunk) [PART II. OTHER INFORMATION](index=39&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings expected to have a material adverse effect on its business - As of the report date, the company is not party to any claim or litigation that is expected to have a material adverse effect on its business[145](index=145&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) Key risks include a history of significant losses, the unproven nature of its novel RNA editing technology, early-stage clinical development, and substantial risks related to regulatory approval, manufacturing, competition, and intellectual property - The company has a history of significant operating losses, with an accumulated deficit of **$315.7 million** as of June 30, 2025, and expects to incur losses for the foreseeable future[147](index=147&type=chunk) - RNA editing is a novel technology with limited clinical validation, and the company's approaches are unproven and may never lead to marketable products[174](index=174&type=chunk) - The company has only dosed a few participants in its first clinical trial for KRRO-110 and has not completed any clinical trials, with favorable preclinical results not predictive of clinical trial outcomes[156](index=156&type=chunk) - The company faces risks related to obtaining and protecting its intellectual property, including the possibility that patents may not be granted, may be challenged, or may not provide sufficient protection against competitors[300](index=300&type=chunk)[303](index=303&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=127&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is not applicable for the reporting period - Not applicable[404](index=404&type=chunk) [Defaults Upon Senior Securities](index=127&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable for the reporting period - Not applicable[405](index=405&type=chunk) [Mine Safety Disclosures](index=127&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable for the reporting period - Not applicable[406](index=406&type=chunk) [Other Information](index=127&type=section&id=Item%205.%20Other%20Information) Several executive officers adopted Rule 10b5-1 trading plans during Q2 2025 for the potential sale of shares issuable upon stock option exercise - During the three months ended June 30, 2025, CEO Ram Aiyar, COO Todd Chappell, CSO Loïc Vincent, and General Counsel Jeffrey Cerio each adopted a Rule 10b5-1 plan for the potential sale of common stock issuable upon the exercise of stock options[407](index=407&type=chunk) [Exhibits](index=128&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents and officer certifications required by the Sarbanes-Oxley Act - The report includes a list of filed exhibits, such as corporate governance documents and officer certifications required under the Sarbanes-Oxley Act[409](index=409&type=chunk)