Kronos Bio Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Kronos Bio, Inc. reported its fourth quarter and full year 2024 financial results, highlighting a strategic evaluation process aimed at maximizing stockholder value [1][3]. Financial Performance - For Q4 2024, Kronos Bio generated revenue of $2.27 million, slightly down from $2.29 million in Q4 2023. For the full year 2024, revenue increased to $9.85 million from $6.29 million in 2023, marking a growth of approximately 56% [5][6]. - Total operating expenses for Q4 2024 were $29.42 million, compared to $29.88 million in Q4 2023. For the full year, operating expenses decreased to $102.74 million from $128.37 million in 2023 [5][6]. - The net loss for Q4 2024 was $25.81 million, or $0.43 per share, compared to a net loss of $25.32 million in Q4 2023. The full year net loss was $86.08 million, or $1.43 per share, down from $112.67 million in 2023 [6][7]. Research and Development - Research and development expenses for Q4 2024 were $8.41 million, including $0.7 million in non-cash stock-based compensation. For the full year, R&D expenses totaled $48.66 million, with $3.4 million in non-cash stock-based compensation [6][9]. Balance Sheet Highlights - As of December 31, 2024, Kronos Bio had cash, cash equivalents, and investments totaling $112.42 million, a decrease from $174.99 million in 2023. Total assets were $124.36 million, down from $213.28 million, while total liabilities decreased to $36.78 million from $54.20 million [6][9]. - Total stockholders' equity as of December 31, 2024, was $87.58 million, compared to $159.08 million in 2023 [9].