Kronos Bio cuts a fifth of staff, explores new dosing schedule for solid tumor drug
08 Mar 2024
Kronos Bio is again resorting to cost-saving measures to extend its cash runway after laying off staff and reshuffling its priorities around four months ago.
Along with a planned 21% reduction in workforce, Kronos’ research reprioritization should extend its runway through the second half of 2026, according to a Thursday release. The company had 99 full-time staff as of Sept. 30, per an SEC filing, but in November it cut 19% of its employees to save cash. Kronos ended September last year with cash, cash equivalents and investments worth $198.4 million.
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Source: EndPoints
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