Kronos Bio Reports Recent Business Progress and Third-Quarter 2023 Financial Results
SAN MATEO, Calif., and CAMBRIDGE, Mass., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third-quarter 2023 financial results.
- $198.4 million in cash, cash equivalents and investments as of September 30, 2023
SAN MATEO, Calif., and CAMBRIDGE, Mass., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third-quarter 2023 financial results. - “This quarter, we made great strides in advancing our clinical programs as well as our discovery projects and Genentech collaboration,” said Norbert Bischofberger, Ph.D., president and chief executive officer of Kronos Bio.
- Kronos Bio expects that these efforts, which include a 19% reduction in force, will extend its cash runway into 2026.
- Net Loss: Net loss for the third quarter of 2023 was $31.4 million, or $0.54 per share, including non-cash stock-based compensation expense of $6.3 million.