Korro Bio Inc
For the period ended Mar 31, 2024. Filed May 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
KRRO$14.75+0.1%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Statements of Cash Flows
(amounts in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities: | ||
| Net loss | $(19,557) | $(19,605) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Non-cash lease expense | 1,203 | 432 |
| Stock-based compensation expense | 865 | 349 |
| Depreciation expense | 726 | 809 |
| Net amortization of premiums and discounts on investments | — | (68) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (290) | (341) |
| Accounts payable | (2,585) | 549 |
| Accrued expenses and other current liabilities | (5,048) | (1,117) |
| Operating lease liabilities | 2,709 | (695) |
| Other non-current assets | 86 | (2) |
| Net cash used in operating activities | (21,891) | (19,689) |
| Investing Activities: | ||
| Proceeds from maturities of investments | — | 17,000 |
| Purchases of property and equipment | (5,611) | (1,513) |
| Net cash provided by (used in) investing activities | (5,611) | 15,487 |
| Financing Activities: | ||
| Proceeds from Series B-2 convertible preferred stock, net of issuance costs | — | 45,500 |
| Proceeds from exercises of stock options | 139 | 51 |
| Other financing activities, net | — | (150) |
| Net cash provided by financing activities | 139 | 45,401 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (27,363) | 41,199 |
| Cash, cash equivalents and restricted cash, beginning of period | 173,119 | 41,477 |
| Cash, cash equivalents and restricted cash, end of period | $145,756 | 82,676 |
| Non-cash investing and financing activities: | ||
| Property and equipment capitalized under tenant improvement allowance | $2,555 | $— |
| Purchases of property and equipment in accounts payable and accrued expenses | $1,942 | $1,753 |
| Financing costs in accounts payable and accrued expenses | $— | $42 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes | $17 | $— |
| Cash paid for operating lease liabilities | $828 | $744 |
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