Kronos Bio Reports Recent Business Progress and Third Quarter 2020 Financial Results
Acquired from Gilead Sciences a portfolio of SYK inhibitors, including lead investigational therapy entospletinib being developed for frontline treatment of NPM1-mutated acute myeloid leukemia
Expanded executive team and board of directors with hiring of COO and CFO and appointment of audit committee chair, respectively
Completed upsized initial public offering of common stock on October 14, 2020, raising $287.5 million in gross proceeds
SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third quarter 2020 financial results.
“Kronos Bio experienced transformational growth in 2020. With the acquisition of the portfolio of SYK inhibitors from Gilead Sciences, we are positioned to initiate late-stage clinical testing next year of our lead investigational therapy entospletinib in patients with newly diagnosed NPM1-mutated acute myeloid leukemia. Furthermore, in the first half of 2021, we plan to begin clinical testing of KB-0742, our CDK9 inhibitor, in patients with advanced solid tumors,” said Norbert Bischofberger, Ph.D., president and CEO. “We have expanded our leadership team and filled key roles across the organization. Additionally, with the completion of two financing rounds, including our upsized IPO, we are well-capitalized to execute on our mission to develop and deliver therapies that have the potential to change patients’ lives.”
Third Quarter Financial Highlights
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