Kronos Bio axes nearly one-fifth of staff to preserve cash for two cancer programs
Kronos Bio is downsizing its workforce by 19% as part of broader restructuring efforts meant to save cash, so that the company can continue work on its programs in solid tumors and acute myeloid leukemia.
The US biotech plans to reduce its staff in a bid to extend its cash runway through 2026. As of Jan. 1, Kronos Bio had 97 full-time employees, according to an SEC filing. In addition to advancing its clinical-stage programs, the company said it will also focus its discovery-stage work on “maturing projects” and its partnership activities with Genentech.
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