Frequency Therapeutics Q2 net loss narrows to $10.8M; merger with Korro Bio expected Q4 2023

Korro Bio, Inc.

2024-Q2 EPS reported -$135.96

Net loss of $10.8M for Q2 2023, down from $21.3M in Q2 2022 due to hearing program discontinuation.
Cash, equivalents and marketable securities $46.5M; all outstanding debt prepaid in April.
Definitive merger agreement with Korro Bio, expected close Q4 2023; combined company to trade as 'KRRO'.
Stockholders may receive CVR for remyelination program if not monetized before merger close.
R&D expenses fell to $4.6M from $13.3M; G&A expenses $7.2M vs $8.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Korro Bio, Inc. reported the six months ended June 30, 2023 results: net income $30.3 million.

Period: the six months ended June 30, 2023
Net income: $30.3 million
Result: reported results

Exact text from the filing

Net loss was $30.3 million for the six months ended June 30, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Korro Bio, Inc. reported the three months ended June 30, 2023 results: net income $10.8 million.

Period: the three months ended June 30, 2023
Net income: $10.8 million
Result: reported results

Exact text from the filing

Net loss was $10.8 million for the three months ended June 30, 2023

View on SEC.gov

2 earnings releases filed in the last 30 days. Browse all earnings releases →

Korro Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-041285

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