By Colin Kellaher
Kronos Bio is shedding about 19% of its staff as the clinical-stage biopharmaceutical moves to extend its cash runway following positive preliminary safety and efficacy clinical data from its Phase 1/2 study of lead pipeline candidate KB-0742.
The San Mateo, Calif., company said the streamlining plan positions it to maximize the potential of KB-0742 while it continues to advance the development of lanraplenib, which is currently in the dose-escalation portion of a Phase 1b/2 study.
Kronos said it also plans to focus its discovery efforts on maturing projects and its Genentech collaboration activities.
Kronos, which has nearly 100 employees according to data from FactSet, said it expects to incur fourth-quarter severance charges of about $1.8 million, adding that it believes the restructuring efforts will extend its cash runway into 2026.
Write to Colin Kellaher at [email protected]
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