Kronos Bio downsizes again to fund path ahead for cancer programmes

08 Mar 2024
firstwordpharma.com
Clinical StudyAACR
Kronos Bio says it will be implementing another round of job cuts, this time slashing its headcount by 21% as it looks to free up financial resources to advance a pair of early oncology programmes.
The move comes on the heels of an earlier round of layoffs announced last November to trim 19% of its workforce. At that time, Kronos had about 100 employees; Thursday’s job cuts put Kronos’ headcount at roughly 60 employees.
The workforce reduction will extend Kronos’ cash runway into the second half of 2026 and enable the company to continue development of CDK9 inhibitor KB-0742, and bring KB-9558, which targets p3000 KAT, into the clinic.
The lead candidate is in a Phase I/II trial for patients with MYC-amplified solid tumours and other transcriptionally addicted tumours. Kronos recently implemented a new dosing schedule for the compound and expects to share topline data based on this updated regimen in the first half of 2025.
Next up for preclinical programme KB-9558, which Kronos is developing for multiple myeloma, is a presentation at the American Association for Cancer Research (AACR) annual meeting in April. The company anticipates starting a first-in-human trial of the compound next year.
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