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Kronos Bio
Kronos Bio (KRON) investor relations material
Kronos Bio has been acquired
Kronos Bio Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary8 May, 2025
Executive summary
Discontinued lead clinical program (istisociclib) in November 2024 due to adverse events and unfavorable benefit-risk profile; initiated strategic review for alternatives including merger or dissolution.
Entered into a Merger Agreement with Concentra Biosciences on May 1, 2025; transaction expected to close mid-2025, with a $1.4M termination fee if not completed.
Workforce reduced by 83% as part of three restructuring plans; as of May 2025, only 8 full-time employees remain.
All obligations under the Genentech collaboration were terminated in December 2024; all performance obligations satisfied as of March 31, 2025.
Financial highlights
Revenue for Q1 2025 was $1.9M, down from $2.5M in Q1 2024, all from the Genentech collaboration.
Net loss for Q1 2025 was $8.4M, a significant improvement from $30.0M in Q1 2024.
Research and development expenses dropped to $2.1M in Q1 2025 from $14.2M in Q1 2024, reflecting program discontinuation and restructuring.
General and administrative expenses were $6.1M in Q1 2025, down from $7.5M in Q1 2024.
Cash, cash equivalents, and investments totaled $99.7M as of March 31, 2025.
Outlook and guidance
Cash and investments expected to fund operations for at least 12 months from March 31, 2025.
If the merger is not completed, the board may pursue dissolution and liquidation.
Pending merger restricts business activities and capital allocation; significant transaction costs expected regardless of outcome.
What is the status of the Concentra merger?
Detail restructuring's impact on long-lived assets.
Explain the Transition Agreement with Genentech.
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Frequently asked questions
Kronos Bio Inc. is a U.S.-based biotechnology company focused on the discovery and development of therapies for cancer and other serious diseases. The company specializes in targeting dysregulated transcription factors and other key regulatory proteins involved in disease progression. Using its proprietary drug discovery platform, Kronos Bio aims to develop small-molecule therapies that address unmet medical needs. Its research spans early discovery through clinical development. The company is headquartered in San Mateo, California, and its shares are listed on the NASDAQ.
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