---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-034390"
form_type: "8-K"
ticker: "KRRO"
cik: "0001703647"
company_name: "Korro Bio, Inc."
filed_at: "2023-02-13T23:59:59+00:00"
generated_at: "2026-06-19T16:15:03.892741+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Frequency Therapeutics cuts 55% of workforce, appoints interim CEO as Lucchino takes medical leave

## Summary
- Cash, cash equivalents and marketable securities $83.1M as of Dec 31, 2022 (preliminary); $68.9M net of debt.
- Workforce reduction of ~55% approved Feb 11, 2023; completion by April 30, 2023; ~$4M in severance costs.
- CEO David Lucchino on temporary medical leave due to bacterial meningitis; co-founder/CSO Christopher Loose named Interim CEO.
- Chief Development Officer Carl LeBel stepping down effective March 31, 2023 as part of the reduction.
- Company focusing capital on pre-clinical remyelination program for Multiple Sclerosis.

## SEC filing metadata
- accession: 0001193125-23-034390
- form_type: 8-K
- ticker: KRRO
- cik: 0001703647
- company_name: Korro Bio, Inc.
- filed_at: 2023-02-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1703647/000119312523034390/0001193125-23-034390-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1703647/000119312523034390/d463460d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-034390
- JSON: https://secwatch.observer/filing/0001193125-23-034390.json
- Plain text: https://secwatch.observer/filing/0001193125-23-034390.txt

## Key facts
- Executive change
  Christopher Loose was appointed as Interim Chief Executive Officer at Korro Bio, Inc..
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: On February 11, 2023, the Company’s Board of Directors appointed Christopher Loose, Ph.D., as Interim Chief Executive Officer while David Lucchino, the Company’s President and Chief Executive Officer, is on a temporary medical leave of absence after being hospitalized with bacterial meningitis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703647/000119312523034390/0001193125-23-034390-index.htm
- Executive change
  Carl P. LeBel departed as Chief Development Officer at Korro Bio, Inc..
  - Action: stepping down
  - Role: Chief Development Officer
  source text: As part of the Reduction, Carl P. LeBel, Ph.D. will be stepping down as the Company’s Chief Development Officer, effective March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703647/000119312523034390/0001193125-23-034390-index.htm
- Restructurings & Charges
  Korro Bio, Inc. announced a restructuring with charges of approximately $4 million (approximately 55% of its workforce).
  - Type: restructuring
  - Charge: approximately $4 million
  - Headcount: approximately 55% of its workforce
  source text: Also on February 13, 2023, the Company announced a reduction in force (the “Reduction”) of approximately 55% of its workforce. The purpose of the Reduction, which was approved by the Board of Directors of the Company on February 11, 2023, is to better align the Company’s workforce with the needs of its business and focus more of its capital resources on its pre-clinical program for remyelination in Multiple Sclerosis (the “MS Program”). These changes will preserve capital, ensuring that the Company is appropriately resourced to complete a first clinical trial of its MS Program. The Reduction will take place in phases and be completed by April 30, 2023. The total costs related to the Reduction are estimated to be approximately $4 million in future cash outlays primarily related to severance costs and related expenses.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703647/000119312523034390/0001193125-23-034390-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.