Korro Reports First Quarter 2025 Financial Results and Provides Business Updates

Core Insights - Korro Bio, Inc. is focused on developing genetic medicines through RNA editing for both rare and prevalent diseases, with a significant milestone expected in the second half of 2025 regarding the KRRO-110 clinical trial for Alpha-1 Antitrypsin Deficiency (AATD) [2][5][16] Financial Performance - As of March 31, 2025, Korro reported cash, cash equivalents, and marketable securities totaling $139.0 million, down from $163.1 million at the end of 2024, which is expected to fund operations into 2027 [9][23] - Collaboration revenue for the first quarter of 2025 was $2.6 million, a notable increase from zero in the same period of 2024, attributed to the partnership with Novo Nordisk [10] - Research and Development (R&D) expenses rose to $19.7 million in Q1 2025 from $13.6 million in Q1 2024, primarily due to increased costs associated with KRRO-110 [11] - General and Administrative (G&A) expenses slightly decreased to $7.8 million in Q1 2025 from $7.9 million in Q1 2024 [12] - The net loss for Q1 2025 was $23.4 million, compared to a net loss of $19.6 million in Q1 2024 [13] Operational Updates - The company is streamlining operations and reducing its workforce by approximately 20% to focus on key program milestones, including the completion of the Phase 1/2a REWRITE clinical trial in 2026 [3][5] - Korro is executing a 3-2-1 strategy aimed at establishing three clinical-stage development programs targeting two tissue types by leveraging its OPERA platform [6][16] - The leadership team has been strengthened with new appointments, enhancing the company's capabilities in drug discovery and development [6][7] Pipeline Developments - The interim readout from the Phase 1/2a REWRITE clinical trial of KRRO-110 for AATD is on track for the second half of 2025, with trial completion expected in 2026 [5][6][16] - Korro plans to announce a second development candidate by the end of 2025, focusing on a rare metabolic disorder program targeting the liver [16] - The collaboration with Novo Nordisk continues to progress, with efforts to advance up to two programs targeting cardiometabolic diseases [7][16]