By Kelly Cloonan
Korro Bio plans to cut about 20% of its workforce in an attempt to streamline operations and reach key program milestones.
The clinical-stage biopharmaceutical company said Wednesday the restructuring will incur one-time charges of around $1.2 million, including employee severance, benefits and other termination costs. It expects to recognize the majority of those charges in the second quarter.
Korro had 104 full-time employees as of Dec. 31, according to the company's most recent 10K filing.
The actions will help the company complete its Phase 1/2a Rewrite clinical trial in 2026, nominate a second development candidate and advance up to two programs under a collaboration with Novo Nordisk, Korro said.
The company will also continue to prioritize the development of KRRO-110 alongside investments in its Oligonucleotide Promoted Editing of RNA platform.
Based in Cambridge, Mass., Korro is focused on developing a new class of genetic medicines based on editing RNA for both rare and highly prevalent diseases.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 07, 2025 18:29 ET (22:29 GMT)
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