Korsana Biosciences, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
KRSA$31.17+0.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| September 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $456,221 | $154,135 |
| Prepaid expenses and other current assets | 4,428 | 461 |
| Total current assets | 460,649 | 154,596 |
| Operating lease right-of-use asset | 967 | — |
| Property and equipment, net | 367 | — |
| Restricted cash | 101 | — |
| Total assets | $462,084 | $154,596 |
| Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit) | ||
| Current liabilities: | ||
| Accounts payable | $1,611 | $176 |
| Accrued expenses and other current liabilities (1) | 28,791 | 12,313 |
| Operating lease liability, current | 287 | — |
| Warrant liability, related party | 13,508 | — |
| Total current liabilities | 44,197 | 12,489 |
| Long term liabilities: | ||
| Accrued other liabilities, non-current | 376 | 538 |
| Operating lease liability, non-current | 984 | — |
| Total liabilities | 45,557 | 13,027 |
| Commitments and contingencies (Note 11) | ||
| Convertible preferred stock: | ||
| Series Seed (formerly known as Series A) convertible preferred stock, $0.0001 par value; no shares and 20,000,000 shares authorized as of September 30, 2026 and December 31, 2025; no shares and 20,000,000 shares issued and outstanding as of September 30, 2026 and December 31, 2025; liquidation preference of $0 and $25,000 as of September 30, 2026 and December 31, 2025 | — | 24,964 |
| Series A convertible preferred stock, $0.0001 par value; 500,000 and 75,500,000 shares authorized as of September 30, 2026 and December 31, 2025; no shares and 75,500,000 shares issued and outstanding as of September 30, 2026 and December 31, 2025; liquidation preference of $0 and $151,000 as of September 30, 2026 and December 31, 2025 | — | 150,573 |
| Series B non-voting convertible preferred stock, no par value; 4,222 shares and no shares authorized as of September 30, 2026 and December 31, 2025; 4,148 shares and no shares issued and outstanding as of September 30, 2026 and December 31, 2025 | 24,964 | — |
| Stockholders’ equity (deficit): | ||
| Common stock, no par value; 400,000,000 and 122,363,552 shares authorized as of September 30, 2026 and December 31, 2025, respectively; 45,541,358 and 1,244,400 shares issued and outstanding as of September 30, 2026 and December 31, 2025 | — | — |
| Additional paid-in capital | 504,588 | 1,762 |
| Accumulated deficit | (113,025) | (35,730) |
| Total stockholders’ equity (deficit) | 391,563 | (33,968) |
| Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | $462,084 | $154,596 |
(1)
Includes related party amount of $11,008 as of September 30, 2026 and $10,565 as of December 31, 2025 (see Note 13).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.