Core Insights - Korro Bio, Inc. is focused on developing genetic medicines through RNA editing for both rare and prevalent diseases, reporting full-year 2024 financial results and progress updates [1][17] Pipeline and Business Updates - 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 [5][6] - KRRO-110 has received Orphan Drug Designation from the FDA for AATD treatment, providing various development incentives [6] - The company is executing a 3-2-1 strategy aiming to establish three clinical-stage development programs targeting two tissue types by the end of 2027, with a second development candidate expected to be announced by the end of 2025 [5][6] - Korro has strengthened its leadership team with key appointments, including the formation of a Clinical Advisory Board [6][7] Financial Performance - As of December 31, 2024, Korro reported cash, cash equivalents, and marketable securities of 166.1 million in 2023, with a cash runway expected to fund operations into the second half of 2026 [9][24] - Collaboration revenue for 2024 was 2.3 million, compared to no collaboration revenue in 2023, attributed to the partnership with Novo Nordisk [10] - Research and Development (R&D) expenses increased to 63.6 million in 2024 from 57.2 million in 2023, driven by external research and development costs related to KRRO-110 [11] - General and Administrative (G&A) expenses rose to 30.5 million in 2024 from 83.6 million, compared to a net loss of $81.2 million in 2023 [13][22] Upcoming Milestones - Interim data from the REWRITE clinical study is expected in the second half of 2025, with study completion anticipated in 2026 [16] - Korro plans to nominate a development candidate for a rare metabolic disorder program targeting the liver by the end of 2025 [16]
Korro Reports Full Year 2024 Financial Results and Provides Business Updates