This biotech is halting its work with Novo Nordisk and laying off more people

Dow Jones

2025/11/13

MW This biotech is halting its work with Novo Nordisk and laying off more people

By Claudia Assis

Korro says restructuring will free up cash to last into second half of 2027

Novo Nordisk's logo outside headquarters in Denmark. A small biotech company is the latest to rethink its ties with the Danish pharma company.

Shares of Korro Bio Inc. lost two-thirds of their value in the extended session Wednesday after the biotech company said it was pausing its work with Novo Nordisk, the weight loss-medication juggernaut, and also laying off a third of its remaining employees.

The goal is to focus resources elsewhere and the layoffs are part of a "strategic restructuring" that would stretch the company's cash into the second half of 2027, Korro said. As of last December, Korro had 104 full-time employees, but laid off about 20% in the spring.

Korro's stock (KRRO) dropped nearly 80% in the extended session Wednesday. Korro said it will incur about $2.4 million in restructuring charges, including employee severance and benefits, mostly to be recognized in the fourth quarter.

The company said it was pausing a research and license agreement with Novo Nordisk for a year while Korro reassesses that deal.

Novo Nordisk (NVO) (DK:NOVO.B), for its part, has been scuppering some of its licensing deals to streamline its business. Novo, maker of diabetes and weight-loss drugs Ozempic and Wegovy, among others, got a new chief executive in August.

-Claudia Assis

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 12, 2025 17:59 ET (22:59 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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A small biotech company is the latest to rethink its ties with the Danish pharma company. \n</p>\n<p>\n     Shares of <a href=\"https://laohu8.com/S/KRRO\">Korro Bio</a> Inc. lost two-thirds of their value in the extended session Wednesday after the biotech company said it was pausing its work with Novo Nordisk, the weight loss-medication juggernaut, and also laying off a third of its remaining employees. \n</p>\n<p>\n     The goal is to focus resources elsewhere and the layoffs are part of a \"strategic restructuring\" that would stretch the company's cash into the second half of 2027, Korro said. As of last December, Korro had 104 full-time employees, but laid off about 20% in the spring. \n</p>\n<p>\n     Korro's stock (KRRO) dropped nearly 80% in the extended session Wednesday. Korro said it will incur about $2.4 million in restructuring charges, including employee severance and benefits, mostly to be recognized in the fourth quarter. \n</p>\n<p>\n     The company said it was pausing a research and license agreement with Novo Nordisk for a year while Korro reassesses that deal. \n</p>\n<p>\n     Novo Nordisk (NVO) (DK:NOVO.B), for its part, has been scuppering some of its licensing deals to streamline its business. Novo, maker of diabetes and weight-loss drugs Ozempic and Wegovy, among others, got a new chief executive in August. \n</p>\n<p>\n     -Claudia Assis \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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A small biotech company is the latest to rethink its ties with the Danish pharma company. \n</p>\n<p>\n     Shares of <a href=\"https://laohu8.com/S/KRRO\">Korro Bio</a> Inc. lost two-thirds of their value in the extended session Wednesday after the biotech company said it was pausing its work with Novo Nordisk, the weight loss-medication juggernaut, and also laying off a third of its remaining employees. \n</p>\n<p>\n     The goal is to focus resources elsewhere and the layoffs are part of a \"strategic restructuring\" that would stretch the company's cash into the second half of 2027, Korro said. As of last December, Korro had 104 full-time employees, but laid off about 20% in the spring. \n</p>\n<p>\n     Korro's stock (KRRO) dropped nearly 80% in the extended session Wednesday. Korro said it will incur about $2.4 million in restructuring charges, including employee severance and benefits, mostly to be recognized in the fourth quarter. \n</p>\n<p>\n     The company said it was pausing a research and license agreement with Novo Nordisk for a year while Korro reassesses that deal. \n</p>\n<p>\n     Novo Nordisk (NVO) (DK:NOVO.B), for its part, has been scuppering some of its licensing deals to streamline its business. Novo, maker of diabetes and weight-loss drugs Ozempic and Wegovy, among others, got a new chief executive in August. \n</p>\n<p>\n     -Claudia Assis \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 12, 2025 17:59 ET (22:59 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KRRO","symbol_name":"Korro Bio, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2583581902","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2583581902","pubTimestamp":1762988340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Korro says restructuring will free up cash to last into second half of 2027. Novo Nordisk's logo outside headquarters in Denmark. A small biotech company is the latest to rethink its ties with the Danish pharma company.Shares of Korro Bio Inc. lost two-thirds of their value in the extended session Wednesday after the biotech company said it was pausing its work with Novo Nordisk, the weight loss-medication juggernaut, and also laying off a third of its remaining employees.The goal is to focus resources elsewhere and the layoffs are part of a \"strategic restructuring\" that would stretch the company's cash into the second half of 2027, Korro said. As of last December, Korro had 104 full-time employees, but laid off about 20% in the spring.Korro's stock  dropped nearly 80% in the extended session Wednesday. Korro said it will incur about $2.4 million in restructuring charges, including employee severance and benefits, mostly to be recognized in the fourth quarter.The company said it was p","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"KRRO":"Korro Bio, Inc.","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","BK4588":"碎股","BK4585":"ETF&股票定投概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","NVO":"诺和诺德","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","BK4532":"文艺复兴科技持仓","BK4139":"生物科技","BK4599":"减肥药","BK4007":"制药","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC"},"translate_title":"这家生物技术公司将停止与诺和诺德的合作并裁员","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVO":1.5,"KRRO":1},"content_text":"MW This biotech is halting its work with Novo Nordisk and laying off more people\n\n\n  By Claudia Assis \n\n\n     Korro says restructuring will free up cash to last into second half of 2027 \n\n\n     Novo Nordisk's logo outside headquarters in Denmark. A small biotech company is the latest to rethink its ties with the Danish pharma company. \n\n\n     Shares of Korro Bio Inc. lost two-thirds of their value in the extended session Wednesday after the biotech company said it was pausing its work with Novo Nordisk, the weight loss-medication juggernaut, and also laying off a third of its remaining employees. \n\n\n     The goal is to focus resources elsewhere and the layoffs are part of a \"strategic restructuring\" that would stretch the company's cash into the second half of 2027, Korro said. As of last December, Korro had 104 full-time employees, but laid off about 20% in the spring. \n\n\n     Korro's stock (KRRO) dropped nearly 80% in the extended session Wednesday. Korro said it will incur about $2.4 million in restructuring charges, including employee severance and benefits, mostly to be recognized in the fourth quarter. \n\n\n     The company said it was pausing a research and license agreement with Novo Nordisk for a year while Korro reassesses that deal. \n\n\n     Novo Nordisk (NVO) (DK:NOVO.B), for its part, has been scuppering some of its licensing deals to streamline its business. Novo, maker of diabetes and weight-loss drugs Ozempic and Wegovy, among others, got a new chief executive in August. \n\n\n     -Claudia Assis \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 12, 2025 17:59 ET (22:59 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}