Kronos Bio Announces Plan to Optimize Resource Allocation, Restructure and Contain Costs Following Positive Preliminary Clinical Data from its KB-0742 Phase 1/2 Study

Strategic resource allocation to fully explore KB-0742’s potential in both dose escalation and expansion cohorts across multiple tumor types in its ongoing Phase 1/2 study

Restructuring plan extends anticipated cash runway into 2026

Company to continue with lanraplenib development and to focus discovery efforts on maturing projects and Genentech collaboration activities

SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today announced a plan to optimize its resource allocation, restructure, and contain costs in light of the positive preliminary safety and efficacy clinical data from its Phase 1/2 study of KB-0742. This plan positions the company to maximize the potential of KB-0742 while continuing to advance the development of lanraplenib, currently in the dose escalation portion of a Phase 1b/2 study. The company will also focus its discovery efforts on maturing projects and its Genentech collaboration activities. Kronos Bio expects that these restructuring efforts, which include a 19% reduction in force, will extend its cash runway into 2026.

“We are committed to fully exploring the promise of KB-0742. At the recent AACR-NCI-EORTC meeting, we shared positive preliminary efficacy and safety data from the Phase 1 dose escalation portion of the Phase 1/2 KB-0742 study. The data demonstrated on-mechanism, single agent anti-tumor activity in heavily pre-treated patients with transcriptionally addicted solid tumors. We have not yet defined a maximum tolerated dose and we may unlock even better anti-tumor activity at higher doses or on alternative schedules as the study progresses,” said Norbert Bischofberger, Ph.D., president and chief executive officer of Kronos Bio. “The measures we have taken today underscore that commitment. By streamlining our operations and extending our runway, we best position the company to optimally fund our KB-0742 clinical studies while continuing to focus on the clinical development of lanraplenib, the advancement of our maturing discovery projects, and our collaboration with Genentech.”