Korro Bio(US:KRRO)2025-11-12 21:08Financial 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]