BUZZ-Frequency Therapeutics jumps on merger agreement with Korro Bio

Reuters

Jul 14, 2023

** Shares of drug developer Frequency Therapeutics Inc

rise 85.40% to 77 cents premarket

** Co and RNA editing co Korro Bio Inc to merge into genetic medicines co focused on advancing Korro Bio's wholly owned portfolio of RNA editing programs

** Combined co to operate under Korro Bio and expected to have cash balance of ~$170 million at close; will apply to trade on Nasdaq under “KRRO”

** Merger and related financing expected to close in Q42023, subject to approval by FREQ's stockholders and other customary closing conditions

** Korro Bio's lead program is a disease-modifying therapy for patients with alpha-1 antitrypsin deficiency $(AAT)$, a condition that raises risk for lung and other diseases

** Up to last close, stock down ~89% this year

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))

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will apply to trade on Nasdaq under “KRRO”</p><p>   ** Merger and related financing expected to close in Q42023, subject to approval by FREQ's stockholders and other customary closing conditions</p><p>   ** Korro Bio's lead program is a disease-modifying therapy for patients with alpha-1 antitrypsin deficiency <a href=\"https://laohu8.com/S/AAT\">$(AAT)$</a>, a condition that raises risk for lung and other diseases</p><p>   ** Up to last close, stock down ~89% this year</p><p> (Reporting by Sriparna Roy in Bengaluru)</p><p>((Sriparna.Roy@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2351237645","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2351237645","pubTimestamp":1689332222,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of drug developer Frequency Therapeutics Inc  rise 85.40% to 77 cents premarket   ** Co and RNA editing co Korro Bio Inc to merge into genetic medicines co focused on advancing Korro Bio's wholly owned portfolio of RNA editing programs   ** Combined co to operate under Korro Bio and expected to have cash balance of ~$170 million at close; 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