Kronos Bio Announces CEO Transition and Reduction in Force

Leadership Changes - Norbert Bischofberger, Ph.D., is stepping down as President & CEO of Kronos Bio, effective December 3, 2024, and will remain on the Board of Directors as an advisor [1] - Deborah Knobelman, Ph.D., currently COO & CFO, has been appointed as President and Interim CEO, effective December 3, 2024 [1] Workforce Reduction - The company announced a workforce reduction of approximately 83 percent by year-end as part of its cost reduction strategies [2] - This decision is part of a broader plan to explore strategic alternatives, including potential business combinations and divestiture of remaining preclinical assets, aimed at maximizing stockholder value [2][3] Company Overview - Kronos Bio is a biopharmaceutical company focused on developing small molecule therapeutics targeting deregulated transcription, which is associated with cancer and autoimmune diseases [4] - The company utilizes a proprietary discovery engine to decode transcription factor regulatory networks and identify druggable cofactors [4]