Financial Performance - Korro reported a net loss of $83.6 million for the year ended December 31, 2024, compared to a net loss of $81.2 million in 2023, reflecting an increase of 2.9%[14] - As of December 31, 2024, Korro had cash, cash equivalents, and marketable securities totaling $163.1 million, down from $166.1 million at the end of 2023[9] Research and Development - Research and Development (R&D) expenses increased to $63.6 million in 2024 from $57.2 million in 2023, representing an increase of 11.2%[11] - The Phase 1/2a REWRITE clinical study of KRRO-110 for Alpha-1 Antitrypsin Deficiency (AATD) has completed dosing of the first two cohorts, with an interim readout expected in the second half of 2025[6] - Korro aims to establish three clinical-stage development programs targeting two tissue types with a single RNA-editing platform by the end of 2027[12] - Korro plans to announce its second development candidate by the end of 2025, focusing on a rare metabolic disorder program targeting the liver[12] Collaboration and Designation - Collaboration revenue for 2024 was $2.3 million, a significant increase from no collaboration revenue in 2023[10] - The FDA granted Orphan Drug Designation to KRRO-110 for the treatment of AATD, providing various development incentives[8] Leadership and Strategy - The company strengthened its leadership team with key appointments, including the formation of a Clinical Advisory Board[12] - The company expects its cash position to fund operations into the second half of 2026, supporting the KRRO-110 clinical study and additional product candidates[6]
Korro Bio(KRRO) - 2024 Q4 - Annual Results