Korro Bio, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $23.4 million, an increase from the $19.6 million loss recorded in the same period last year. The company recognized $2.6 million in collaboration revenue, a significant development as it had no revenue in the first quarter of 2024. Total operating expenses rose to $27.6 million, up from $21.5 million in the prior year, primarily driven by increased research and development costs associated with its clinical programs.
The increase in operating expenses was largely attributed to a $6.2 million rise in research and development expenditures, which included costs related to the Phase 1/2a REWRITE clinical trial for KRRO-110, aimed at treating Alpha-1 Antitrypsin Deficiency (AATD). This trial has seen the dosing of initial participants, and the company anticipates interim data in the second half of 2025. General and administrative expenses remained relatively stable, decreasing slightly to $7.8 million from $7.9 million year-over-year.
Korro Bio's total assets as of March 31, 2025, were reported at $202.2 million, down from $226.2 million at the end of 2024. The decrease was primarily due to a reduction in cash and marketable securities, which totaled $139 million at the end of the quarter. The company’s accumulated deficit has now reached $290 million, reflecting its ongoing investment in research and development without any product sales to date. The company has indicated that it expects to continue incurring significant losses as it advances its clinical programs.
In terms of strategic developments, Korro Bio completed a business combination in November 2023, which included the acquisition of Legacy Korro. The company has also initiated a workforce reduction of approximately 20% as part of a strategic plan to streamline operations, which is expected to incur one-time restructuring charges of about $1.2 million. Looking ahead, Korro Bio aims to leverage its cash reserves to fund operations through at least 2027, while continuing to seek additional funding through equity offerings and collaborations to support its development pipeline.
About Korro Bio, Inc.
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