KRON Kronos Bio Inc.

38.23
+0.14  (+0%)
Previous Close 38.09
Open 38.83
52 Week Low 25.5006
52 Week High 39
Market Cap $2,142,160,858
Shares 56,033,504
Float 38,744,010
Enterprise Value $1,923,294,345
Volume 135,764
Av. Daily Volume 0
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Drug Pipeline

Drug Stage Notes
KB-0742
Solid tumors
Phase 1/2
Phase 1/2
Phase 1/2 trial to be initiated in 2021.
Entospletinib
Acute myeloid leukemia (AML)
Phase 1/2
Phase 1/2
Phase 1/2 FLT3 mt AML trial to be initiated 2021.
Entospletinib
Acute myeloid leukemia (AML)
Phase 2/3
Phase 2/3
Phase 2/3 trial to be initiated 2021.

Latest News

  1. SAN MATEO, Calif., and CAMBRIDGE, Mass., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today announced that members of the management team will participate in the following investor conferences:

    • A virtual fireside chat at the Evercore ISI 3rd Annual HealthCONx Conference on Wednesday, Dec. 2, 2020, at 2:15 p.m. ET; and
    • Meetings at the Piper Sandler 32nd Annual Virtual Healthcare Conference on Thursday, Dec. 3, 2020, with a pre-recorded fireside chat available today at 10 a.m. ET.

    The fireside chats will be available from the Investors & Media section of the company's website at www.kronosbio.com. A replay of the webcast will be archived and available…

    SAN MATEO, Calif., and CAMBRIDGE, Mass., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today announced that members of the management team will participate in the following investor conferences:

    • A virtual fireside chat at the Evercore ISI 3rd Annual HealthCONx Conference on Wednesday, Dec. 2, 2020, at 2:15 p.m. ET; and
    • Meetings at the Piper Sandler 32nd Annual Virtual Healthcare Conference on Thursday, Dec. 3, 2020, with a pre-recorded fireside chat available today at 10 a.m. ET.

    The fireside chats will be available from the Investors & Media section of the company's website at www.kronosbio.com. A replay of the webcast will be archived and available for one month following the event.

    About Kronos Bio, Inc.

    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing therapies that seek to transform the lives of those affected by cancer. The company focuses on targeting dysregulated transcription factors and the regulatory networks within cells that drive cancerous growth. Kronos Bio's lead investigational therapy is entospletinib, a selective inhibitor targeting spleen tyrosine kinase (SYK) in development for the frontline treatment of NPM1-mutated acute myeloid leukemia (AML). The company is also developing KB-0742, an oral inhibitor of cyclin dependent kinase 9 (CDK9), for the treatment of MYC-amplified solid tumors.

    Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit www.kronosbio.com or follow the company on LinkedIn.

    Contact:

    Stephanie Yao

    Executive Director, Investor Relations and Corporate Communications

    650-525-6605



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  2. Acquired from Gilead Sciences a portfolio of SYK inhibitors, including lead investigational therapy entospletinib being developed for frontline treatment of NPM1-mutated acute myeloid leukemia

    Expanded executive team and board of directors with hiring of COO and CFO and appointment of audit committee chair, respectively

    Completed upsized initial public offering of common stock on October 14, 2020, raising $287.5 million in gross proceeds

    SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third quarter 2020 financial results.

    "Kronos Bio experienced transformational…

    Acquired from Gilead Sciences a portfolio of SYK inhibitors, including lead investigational therapy entospletinib being developed for frontline treatment of NPM1-mutated acute myeloid leukemia

    Expanded executive team and board of directors with hiring of COO and CFO and appointment of audit committee chair, respectively

    Completed upsized initial public offering of common stock on October 14, 2020, raising $287.5 million in gross proceeds

    SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third quarter 2020 financial results.

    "Kronos Bio experienced transformational growth in 2020. With the acquisition of the portfolio of SYK inhibitors from Gilead Sciences, we are positioned to initiate late-stage clinical testing next year of our lead investigational therapy entospletinib in patients with newly diagnosed NPM1-mutated acute myeloid leukemia. Furthermore, in the first half of 2021, we plan to begin clinical testing of KB-0742, our CDK9 inhibitor, in patients with advanced solid tumors," said Norbert Bischofberger, Ph.D., president and CEO. "We have expanded our leadership team and filled key roles across the organization. Additionally, with the completion of two financing rounds, including our upsized IPO, we are well-capitalized to execute on our mission to develop and deliver therapies that have the potential to change patients' lives."

    Recent Highlights

    • In July 2020, acquired Gilead Sciences' portfolio of spleen tyrosine kinase (SYK) inhibitors, including entospletinib, which Kronos Bio is developing as a frontline treatment for patients with NPM1-mutated acute myeloid leukemia (AML).



    • Expanded the company's leadership team with the hiring of Barbara Kosacz, chief operating officer and general counsel, and Dr. Yasir Al-Wakeel, chief financial officer and head of corporate development, and appointed Elena Ridloff to the company's Board of Directors as chair of the audit committee.



    • In September 2020, closed a private financing round of approximately $155.2 million of convertible notes.



    • In October 2020, completed an upsized initial public offering (IPO) of 15,131,579 of common stock, including full exercise of the underwriters' option to purchase additional shares, resulting in gross proceeds of $287.5 million, before deducting underwriting discounts and commissions and offering expenses.



    • In October 2020, published in Cell Chemical Biology the results of a preclinical study of KB-0742, the company's potent oral, highly selective cyclin dependent kinase 9 (CDK9) inhibitor being developed to treat MYC-amplified solid tumors. These results were previously presented at the American Association for Cancer Research Virtual Annual Meeting II in June 2020.

    Third Quarter Financial Highlights

    • Cash, Cash Equivalents and Short-Term Investments: As of September 30, 2020, cash, cash equivalents and short-term investments totaled $211.3 million, which excludes approximately $263.9 million in net proceeds from the company's October 2020 upsized IPO.



    • R&D Expenses: Research and development expenses were $16.8 million for the third quarter of 2020, which includes $0.2 million in stock-based compensation expense.



    • G&A Expenses: General and administrative expenses were $4.1 million for the third quarter of 2020, which includes $1.0 million in stock-based compensation expense.



    • Net Loss: Net loss was $39.7 million, or $6.48 per basic and diluted share, for the quarter ended September 30, 2020. This includes a non-recurring $15.2 million non-cash change in fair value of convertible notes.

    About Kronos Bio, Inc.

    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing therapies that seek to transform the lives of those affected by cancer. The company focuses on targeting dysregulated transcription factors and the regulatory networks within cells that drive cancerous growth. Kronos Bio's lead investigational therapy is entospletinib, a selective inhibitor targeting spleen tyrosine kinase (SYK) in development for the frontline treatment of NPM1-mutated acute myeloid leukemia (AML). The company is also developing KB-0742, an oral inhibitor of cyclin dependent kinase 9 (CDK9), for the treatment of MYC-amplified solid tumors.

    Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit www.kronosbio.com or follow the company on LinkedIn.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, implied and express statements regarding intentions, beliefs, projections, outlook analyses or current expectations concerning, among other things: our expectations about timing and execution of anticipated milestones, including planned IND submissions, initiation of clinical trials and the availability of clinical data from such trials; our cash forecasts; our expectations about our partners' and collaborators' ability to execute key initiatives; and the ability of our lead product candidates to treat the underlying causes of their respective targets. These forward looking statements may be accompanied by words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" and other words of a similar meaning. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our clinical trials, strategy and future operations; the delay of any current or planned clinical trials or the development of the Company's drug candidates, including, but not limited to entospletinib and KB-0742; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; the Company's ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company's planned interactions with regulatory authorities; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the final prospectus dated October 9, 2020 and filed pursuant to Rule 424(b) under the Securities of 1933, as amended, with the Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in Kronos Bio's subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kronos Bio's views only as of today and should not be relied upon as representing its views as of any subsequent date. Kronos Bio explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.



    Kronos Bio, Inc.

    Statements of Operations and Comprehensive Loss

    (in thousands, except share and per share amounts)

    (Unaudited)

     Three months ended September 30, Nine months ended September 30,
     2020 2019 2020 2019
    Operating expenses:       
    Research and development$16,755  $3,526  $30,125  $8,698 
    General and administrative4,054  797  6,831  2,262 
    Total operating expenses20,809  4,323  36,956  10,960 
    Loss from operations(20,809) (4,323) (36,956) (10,960)
    Other income (expense), net:       
    Change in fair value of convertible notes payable(15,215)   (15,215)  
    Interest expense(3,889) (1) (3,890) (3)
    Interest and other income, net200  311  774  311 
    Total other income (expense), net(18,904) 310  (18,331) 308 
    Net loss(39,713) (4,013) (55,287) (10,652)
    Other comprehensive income (loss):       
    Net unrealized gain (loss) on available-for-sale securities(117)   65   
    Net comprehensive loss$(39,830) $(4,013) $(55,222) $(10,652)
    Net loss per share, basic and diluted$(6.48) $(0.74) $(9.39) $(2.05)
    Weighted-average shares of common stock, basic and diluted6,127,146  5,409,433  5,886,191  5,196,681 





    Kronos Bio, Inc.

    Selected Balance Sheet Data

    (in thousands, except share and per share amounts)

    (Unaudited)

     September 30, 2020 December 31, 2019
    Cash, cash equivalents and short-term investments$211,265  $92,184 
    Total assets262,556  102,686 
    Total liabilities215,929  2,982 
    Convertible preferred stock122,907  122,907 
    Total stockholders' deficit(76,280) (23,203)



    Contact:

    Stephanie Yao

    Executive Director, Investor Relations and Corporate Communications

    650-525-6605



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  3. SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 11, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today announced that members of the management team will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on Wednesday, Nov. 18, 2020, at 7:20 p.m. GMT (2:20 p.m. ET).

    The fireside chat will be webcast live from the Investors & Media section of the company's website at www.kronosbio.com. A replay of the webcast will be archived and available for one month following the event.

    About Kronos Bio, Inc.
    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing therapies that…

    SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 11, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a company dedicated to transforming the lives of those affected by cancer, today announced that members of the management team will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on Wednesday, Nov. 18, 2020, at 7:20 p.m. GMT (2:20 p.m. ET).

    The fireside chat will be webcast live from the Investors & Media section of the company's website at www.kronosbio.com. A replay of the webcast will be archived and available for one month following the event.

    About Kronos Bio, Inc.

    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing therapies that seek to transform the lives of those affected by cancer. The company focuses on targeting dysregulated transcription factors and the regulatory networks within cells that drive cancerous growth. Kronos Bio's lead investigational therapy is entospletinib, a selective inhibitor targeting spleen tyrosine kinase (SYK) in development for the treatment of NPM1-mutated acute myeloid leukemia (AML). The company is also developing KB-0742, an oral inhibitor of cyclin dependent kinase 9 (CDK9), for the treatment of MYC-amplified solid tumors.

    Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit www.kronosbio.com or follow the company on LinkedIn.

    Contact:

    Stephanie Yao

    Executive Director, Investor Relations and Corporate Communications

    650-525-6605

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  4. KB-0742 is a transcription regulatory network modulator discovered using the company's proprietary high-throughput screening platform

    Research showed KB-0742 inhibited androgen receptor-dependent activity and reduced tumor growth in castration-resistant prostate cancer

    Company is on track to submit an IND in the fourth quarter of 2020 and initiate a Phase 1/2 clinical trial for advanced solid tumors in 2021

    SAN MATEO, Calif., and CAMBRIDGE, Mass., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, today announced results of a preclinical study of KB-0742…

    KB-0742 is a transcription regulatory network modulator discovered using the company's proprietary high-throughput screening platform

    Research showed KB-0742 inhibited androgen receptor-dependent activity and reduced tumor growth in castration-resistant prostate cancer

    Company is on track to submit an IND in the fourth quarter of 2020 and initiate a Phase 1/2 clinical trial for advanced solid tumors in 2021

    SAN MATEO, Calif., and CAMBRIDGE, Mass., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, today announced results of a preclinical study of KB-0742, an investigational therapy being developed by the company. The research findings, published in Cell Chemical Biology, demonstrated that KB-0742 significantly reduced tumor growth in castration-resistant prostate cancer (CPRC) models as well as other cancers addicted to high levels of oncogenic transcription.

    "Cyclin-dependent kinase 9 (CDK9) is an important transcriptional co-factor of MYC, a well-known driver of cancer that is dysregulated in a significant proportion of solid tumors. We designed KB-0742 to be an orally bioavailable CDK9 inhibitor with a differentiated selectivity profile," said Norbert Bischofberger, Ph.D., president and CEO of Kronos Bio. "We look forward to advancing clinical development of KB-0742 to establish the dose, safety and efficacy of this investigational therapy as a potential treatment for MYC-amplified tumors."

    Kronos Bio and scientific founder Angela Koehler, Ph.D., associate professor at The Koch Institute for Integrated Cancer Research at the Massachusetts Institute of Technology (MIT), used the company's proprietary small molecule microarray (SMM) screening platform to discover molecules with the potential to inhibit androgen receptor (AR) activity and overcome treatment resistance in prostate cancer cells. Further investigation revealed that the initial lead compound KI-ARv-03 was a selective inhibitor of the transcriptional co-activator CDK9. Optimization of KI-ARv-03 resulted in KB-0742.

    "The current treatment for prostate cancer consists of targeting AR activity, a key driver of prostate cancer. However, most patients will develop resistance to treatment and progress to CPRC," said Dr. Koehler. "Through our collaborative research, we discovered that selective CDK9 inhibition is an attractive therapeutic strategy for transcriptionally addicted tumor types such as CRPC, and that KB-0742 reduced CRPC cell division and increased cell death in vitro, and inhibited tumor growth in a human CRPC animal model."

    As discussed in the publication, preclinical study results showed that treatment of CRPC with KB-0742 resulted in preferential depletion of AR-driven transcriptional programs and potent antiproliferative activity and induction of apoptosis against the CRPC cell line 22Rv1. An in vivo efficacy study examined the oral administration of KB-0742 in mice that had been engrafted with the human CRPC cell line and compared tumor growth to standard docetaxel chemotherapy (intraperitoneally at 15 mg/kg, once weekly), or escalating doses of KB-0742 (orally at 3, 10, and 30 mg/kg, once daily) over 21 days. The study showed an 82 percent tumor growth inhibition (TGI) with KB-0742 versus a 70 percent TGI with standard docetaxel treatment, demonstrating that KB-0742 significantly reduced tumor burden in a human prostate cancer xenograft model.

    Prostate cancer is one of the most common and deadly cancers in men. The American Cancer Society estimates nearly 200,000 new cases and approximately 33,000 deaths from prostate cancer in 2020.

    About Kronos Bio

    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription. The company has headquarters in San Mateo, Calif., and a research facility in Cambridge, Mass.

    Forward-Looking Statements

    This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The press release may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the timing of submission of an IND for KB-0742, the timing of initiation of a Phase 1/2 clinical trial of KB-0742 for advanced solid tumors, and the ability of Kronos Bio to advance clinical development of KB-0742 to establish the dose, safety and efficacy of KB-0742 as a potential treatment for MYC-amplified tumors. Various factors may cause differences between Kronos Bio's expectations and actual results as discussed in greater detail in Kronos Bio's filings with the Securities and Exchange Commission (SEC), including without limitation in its Registration Statement on Form S-1, as amended, originally filed with the SEC on September 18, 2020. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Kronos Bio assumes no obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

    Contact

    Stephanie Yao

    Executive Director, Investor Relations and Corporate Communications

    650-525-6605

     

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  5. SAN MATEO, Calif. and CAMBRIDGE, Mass., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, today announced the closing of its previously announced initial public offering of 15,131,579 shares of its common stock, which includes 1,973,684 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at a price to the public of $19.00 per share. Including the option exercise, the aggregate gross proceeds to Kronos Bio from the offering were approximately $287.5 million, before deducting…

    SAN MATEO, Calif. and CAMBRIDGE, Mass., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (NASDAQ:KRON), a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, today announced the closing of its previously announced initial public offering of 15,131,579 shares of its common stock, which includes 1,973,684 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at a price to the public of $19.00 per share. Including the option exercise, the aggregate gross proceeds to Kronos Bio from the offering were approximately $287.5 million, before deducting the underwriting discounts and commissions and offering expenses. The shares began trading on the Nasdaq Global Select Market on October 9, 2020, under the ticker symbol "KRON."

    Goldman Sachs & Co. LLC, Jefferies, Cowen and Piper Sandler acted as joint book-running managers for the offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on October 8, 2020. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. The offering was made only by means of a written prospectus, forming a part of the effective registration statement. A copy of the final prospectus relating to the initial public offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at 866-471-2526, or by email at ; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388, or by email at ; Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 833-297-2926, or by email at ; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924, or by email at .

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Kronos Bio, Inc.

    Kronos Bio is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription. The company has headquarters in San Mateo, Calif., and a research facility in Cambridge, Mass.

    Contact:

    Stephanie Yao

    Executive Director, Investor Relations and Corporate Communications

    650-502-6605

    Primary Logo

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