Kronos Bio Reports Recent Business Progress and Third-Quarter 2022 Financial Results
Earlier today, the company announced prioritization of clinical portfolio to focus on next-generation SYK inhibitor, lanraplenib and CDK9 inhibitor, KB-0742
$270.3 million in cash, cash equivalents and investments as of Sept. 30, 2022, with expected cash runway into Q2 2025
SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 08, 2022 (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 2022 financial results.
In a press release issued earlier this afternoon, the company announced the prioritization of its clinical portfolio to focus on its next-generation SYK inhibitor, lanraplenib, and its CDK9 inhibitor, KB-0742, and the decision to discontinue the Phase 3 entospletinib trial. Kronos Bio believes that focusing on lanraplenib and KB-0742 will allow the company to direct its resources to the highest value programs and deliver on its mission of bringing cancer drugs to the patients with the greatest need.
Third Quarter and Recent Company Updates
Third Quarter 2022 Financial Highlights
About Kronos Bio, Inc.
Kronos Bio is a biopharmaceutical company that is advancing two investigational compounds in clinical trials for patients with cancer. The company is developing the CDK9 inhibitor, KB-0742 as a treatment for MYC-amplified solid tumors, and lanraplenib, a next-generation SYK inhibitor, for patients with relapsed/refractory FLT3-mutated acute myeloid leukemia. The company’s scientific focus is on developing medicines that target the dysregulated transcription that is the hallmark of cancer and other serious diseases.
Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit www.kronosbio.com or follow the company on LinkedIn.
Kronos Bio, Inc.
Kronos Bio, Inc.
Selected Balance Sheet Data
(in thousands, except share and per share amounts)
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