---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-083653"
form_type: "8-K"
ticker: "KRRO"
cik: "0001703647"
company_name: "Korro Bio, Inc."
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T10:39:33.960370+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Frequency Therapeutics receives Nasdaq deficiency notice for bid price below $1; CDO departs in RIF

## Summary
- Nasdaq notified FREQ on March 28, 2023 that bid price closed below $1.00 for 30 consecutive business days.
- Company has until September 25, 2023 to regain compliance by closing at $1.00+ for 10 consecutive days.
- Chief Development Officer Carl LeBel terminated effective March 31, 2023 as part of reduction in force.
- LeBel receives 12 months base salary severance, COBRA payments, and $200,783 bonus (100% of 2023 bonus).
- Reduction in force follows unfavorable FX322 readout, as stated in separation agreement.

## SEC filing metadata
- accession: 0001193125-23-083653
- form_type: 8-K
- ticker: KRRO
- cik: 0001703647
- company_name: Korro Bio, Inc.
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1703647/000119312523083653/0001193125-23-083653-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1703647/000119312523083653/d491154d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-083653
- JSON: https://secwatch.observer/filing/0001193125-23-083653.json
- Plain text: https://secwatch.observer/filing/0001193125-23-083653.txt

## Key facts
- Listing & Compliance Notices
  Korro Bio, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5450(a)(1)
  source text: March 28, 2023, Frequency Therapeutics, Inc. (the “Company”) received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock, par value $ 0.001 per share (the “Common Stock”), had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”). The deficiency letter has no immediate effect on the lis
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703647/000119312523083653/0001193125-23-083653-index.htm
- Executive change
  Carl LeBel was terminated as Chief Development Officer at Korro Bio, Inc..
  - Action: terminated
  - Role: Chief Development Officer
  source text: On February 13, 2023, Carl LeBel, Ph.D., Chief Development Officer of Frequency Therapeutics, Inc. (the “Company”), was notified by the Company that his employment would be terminated on March 31, 2023 (the “Separation Date”) as part of a reduction in force that was previously announced by the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703647/000119312523083653/0001193125-23-083653-index.htm

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