Korro Reports First Quarter 2024 Financial Results and Appointment of Kemi Olugemo, M.D. as Chief Medical Officer
CAMBRIDGE, Mass., May 14, 2024 (GLOBE NEWSWIRE) -- Korro Bio, Inc. (Korro) (Nasdaq: KRRO), a biopharmaceutical company focused on developing a new class of genetic medicines based on editing RNA for both rare and highly prevalent diseases, today reported financial results for the first quarter of 2024 and provided an update on its recent progress and anticipated milestones.
- Today, we are excited to announce the addition of Dr. Kemi Olugemo as Korro’s Chief Medical Officer.
- In April 2024, Korro announced a PIPE of approximately $70.0 million with participation from new and existing investors.
- First Quarter 2024 Financial Results:
Cash Position: Cash and cash equivalents were $138.8 million as of March 31, 2024, compared to $166.1 million as of December 31, 2023. - Net Loss: Korro’s net loss was $19.6 million for each of the three months ended March 31, 2024, and 2023.