Kronos Bio plans another round of restructuring
US clinical stage biotech Kronos Bio (Nasdaq: KRON) saw its shares edge up 2.3% to $1.32 this morning, on news of further restructuring.
The company announced a plan to optimize its resource allocation, restructure, and extend runway to focus resources on key programs in the Kronos pipeline, including the ongoing Phase I/II study of KB-0742 following the review of additional positive preliminary safety and efficacy data.
Just last November, Kronos announced plans to reduce its workforce by 19% in a bid to allow more resources to be allocated to its drugs KB-0742 and lanraplenib, as well as extend its cash flow until 2026.
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