$KRON
Kronos Bio, Inc.

2024 Q1 Form 10-K Financial Statement

#000174183024000021 Filed on March 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.500M $2.286M $6.300M
YoY Change 108.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.386M $11.81M $42.16M
YoY Change -22.52% 4.72% -9.28%
% of Gross Profit
Research & Development $14.22M $17.82M $86.38M
YoY Change -27.65% -20.47% -7.83%
% of Gross Profit
Depreciation & Amortization $500.0K $478.0K $2.100M
YoY Change -16.67% -16.72% -8.7%
% of Gross Profit
Operating Expenses $34.51M $29.63M $128.1M
YoY Change 16.15% -12.03% -6.56%
Operating Profit -$31.99M -$121.8M
YoY Change 12.29% -11.15%
Interest Expense $2.036M $2.024M $9.157M
YoY Change -9.71% 6.53% 134.13%
% of Operating Profit
Other Income/Expense, Net $2.036M $9.157M
YoY Change -9.71% 134.13%
Pretax Income -$29.96M -$25.32M -$112.7M
YoY Change 14.18% -20.33% -15.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$29.96M -$25.32M -$112.7M
YoY Change 14.18% -20.33% -15.41%
Net Earnings / Revenue -1198.32% -1107.61% -1788.46%
Basic Earnings Per Share -$0.50 -$1.95
Diluted Earnings Per Share -$0.50 -$0.43 -$1.95
COMMON SHARES
Basic Shares Outstanding 60.10M shares 58.32M shares 57.74M shares
Diluted Shares Outstanding 59.52M shares 57.74M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.0M $173.0M $173.0M
YoY Change -32.87% -27.37% -27.37%
Cash & Equivalents $46.20M $64.33M $64.33M
Short-Term Investments $105.8M $108.7M $108.7M
Other Short-Term Assets $6.375M $5.781M $5.781M
YoY Change 19.16% 4.46% 4.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $158.4M $178.8M $178.8M
YoY Change -31.82% -26.82% -26.82%
LONG-TERM ASSETS
Property, Plant & Equipment $8.115M $10.25M $29.91M
YoY Change -35.23% -21.05% -20.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $1.989M $1.989M
YoY Change -100.0% -79.63% -79.63%
Other Assets $577.0K $577.0K $2.603M
YoY Change -50.64% -50.56% -18.48%
Total Long-Term Assets $24.62M $34.50M $34.50M
YoY Change -56.62% -31.88% -31.88%
TOTAL ASSETS
Total Short-Term Assets $158.4M $178.8M $178.8M
Total Long-Term Assets $24.62M $34.50M $34.50M
Total Assets $183.0M $213.3M $213.3M
YoY Change -36.69% -27.69% -27.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.226M $883.0K $883.0K
YoY Change -63.14% -82.5% -82.5%
Accrued Expenses $4.987M $10.93M $13.82M
YoY Change -24.42% -15.68% -9.71%
Deferred Revenue $8.670M $9.584M
YoY Change 0.17%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.03M $24.70M $24.70M
YoY Change -24.67% 14.94% 14.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $26.98M $0.00 $29.51M
YoY Change 30910.34% -100.0% 1.91%
Total Long-Term Liabilities $26.98M $0.00 $29.51M
YoY Change 30910.34% -100.0% 1.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.03M $24.70M $24.70M
Total Long-Term Liabilities $26.98M $0.00 $29.51M
Total Liabilities $46.01M $54.20M $54.20M
YoY Change -27.45% 7.46% 7.46%
SHAREHOLDERS EQUITY
Retained Earnings -$538.8M -$508.9M
YoY Change 27.56% 28.45%
Common Stock $60.00K $59.00K
YoY Change 5.26% 3.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $137.0M $159.1M $159.1M
YoY Change
Total Liabilities & Shareholders Equity $183.0M $213.3M $213.3M
YoY Change -36.69% -27.69% -27.69%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$29.96M -$25.32M -$112.7M
YoY Change 14.18% -20.33% -15.41%
Depreciation, Depletion And Amortization $500.0K $478.0K $2.100M
YoY Change -16.67% -16.72% -8.7%
Cash From Operating Activities -$23.90M -$25.02M -$78.58M
YoY Change 301.87% 11.08% -13.58%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $31.00K $679.0K
YoY Change -94.44% -40.38% 17.68%
Acquisitions
YoY Change
Other Investing Activities $5.777M $31.59M $67.05M
YoY Change -192.74% -0.62% -311.87%
Cash From Investing Activities $5.770M $31.56M $66.37M
YoY Change -190.79% -0.55% -305.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 191.0K $567.0K
YoY Change -126.68% -33.37%
NET CHANGE
Cash From Operating Activities -$23.90M -25.02M -$78.58M
Cash From Investing Activities $5.770M 31.56M $66.37M
Cash From Financing Activities $0.00 191.0K $567.0K
Net Change In Cash -$18.13M 6.727M -$11.65M
YoY Change 47.37% -20.78% -90.48%
FREE CASH FLOW
Cash From Operating Activities -$23.90M -$25.02M -$78.58M
Capital Expenditures $7.000K $31.00K $679.0K
Free Cash Flow -$23.91M -$25.06M -$79.26M
YoY Change 293.64% 10.96% -13.38%

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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
334979000 usd
CY2023 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
500000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
66368000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-32222000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
29000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
471000 usd
CY2023 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
538000 usd
CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
380000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
567000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
851000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11647000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-122297000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77999000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200296000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66352000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77999000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64326000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75973000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2026000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2026000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66352000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77999000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
20000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-508900000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3886000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4277000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue, the accrual of research and development expenses, the fair value of investments, the fair value of the long-lived assets, income tax uncertainties, the valuation of equity instruments and the incremental borrowing rate for determining the operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company’s estimates.</span></div>
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2000000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2000000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Other Risks and Uncertainties</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents and investments. The primary objectives for the Company’s investment portfolio are the preservation of capital and the maintenance of liquidity. The Company does not enter into any investment transaction for trading or speculative purposes.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. The Company maintains cash balances in excess of amounts insured by the FDIC and concentrated within a limited number of financial institutions. As of December 31, 2023 and December 31, 2022, the Company has not experienced any credit losses in such accounts or investments.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to a number of risks common for biopharmaceutical companies, including, but not limited to, dependency on the clinical and commercial success of its product candidates, ability to obtain regulatory approval of its product candidates, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and patients, significant competition, and untested manufacturing capabilities.</span></div>
CY2023Q4 kron Accrued External Research And Development Current
AccruedExternalResearchAndDevelopmentCurrent
5821000 usd
CY2022Q4 kron Accrued External Research And Development Current
AccruedExternalResearchAndDevelopmentCurrent
7694000 usd
CY2023Q4 kron Accrued Outside Services Current
AccruedOutsideServicesCurrent
807000 usd
CY2022Q4 kron Accrued Outside Services Current
AccruedOutsideServicesCurrent
945000 usd
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
133000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
40000 usd
CY2023Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
18000 usd
CY2022Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
266000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10931000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12963000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M21D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3303 shares
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2900000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2300000 usd
CY2023 us-gaap Impairment Excluding Lessor Asset Under Operating Lease
ImpairmentExcludingLessorAssetUnderOperatingLease
600000 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
400000 usd
CY2022Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
4950000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
5181000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
6165000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
57000 usd
CY2023Q4 kron Cash And Cash Equivalent And Debt Securities Available For Sale Amortized Cost
CashAndCashEquivalentAndDebtSecuritiesAvailableForSaleAmortizedCost
166751000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
55000 usd
CY2023Q4 kron Cash And Cash Equivalent And Debt Securities Available For Sale Excluding Accrued Interest
CashAndCashEquivalentAndDebtSecuritiesAvailableForSaleExcludingAccruedInterest
166770000 usd
CY2022Q4 kron Cash And Cash Equivalent And Debt Securities Available For Sale Amortized Cost
CashAndCashEquivalentAndDebtSecuritiesAvailableForSaleAmortizedCost
234343000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
800000 usd
CY2022Q4 kron Cash And Cash Equivalent And Debt Securities Available For Sale Excluding Accrued Interest
CashAndCashEquivalentAndDebtSecuritiesAvailableForSaleExcludingAccruedInterest
233551000 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
56110000 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
61577000 usd
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
108671000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
162212000 usd
CY2023Q4 us-gaap Long Term Investments
LongTermInvestments
1989000 usd
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
9762000 usd
CY2023Q4 us-gaap Investments And Cash
InvestmentsAndCash
166770000 usd
CY2022Q4 us-gaap Investments And Cash
InvestmentsAndCash
233551000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
128772000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1989000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
130761000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17542000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18500000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7290000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5515000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10252000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12985000 usd
CY2023 us-gaap Depreciation
Depreciation
2100000 usd
CY2022 us-gaap Depreciation
Depreciation
2300000 usd
CY2023Q2 us-gaap Impairment Excluding Lessor Asset Under Operating Lease
ImpairmentExcludingLessorAssetUnderOperatingLease
600000 usd
CY2023 kron Disposal Group Including Discontinued Operation Remeasurement Gain Loss On Current Assets
DisposalGroupIncludingDiscontinuedOperationRemeasurementGainLossOnCurrentAssets
-200000 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
400000 usd
CY2023Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
209000 usd
CY2022Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
891000 usd
CY2023Q4 kron Espp Withholdings Liability Current
ESPPWithholdingsLiabilityCurrent
195000 usd
CY2022Q4 kron Espp Withholdings Liability Current
ESPPWithholdingsLiabilityCurrent
238000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
404000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1129000 usd
CY2023Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Inception To Date Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDatePercent
0.19
CY2022 us-gaap Restructuring Costs
RestructuringCosts
0 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6300000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19657000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24707000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2893000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2347000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25379000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28744000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28272000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
31091000 usd
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
157000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.92
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M26D
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
5452000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
5111000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
5600000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5700000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5274000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5921000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5405000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4874000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5020000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
11404000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
37898000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9626000 usd
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2900000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2300000 usd
CY2023 us-gaap Impairment Excluding Lessor Asset Under Operating Lease
ImpairmentExcludingLessorAssetUnderOperatingLease
600000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-23603000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-27973000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-4425000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-5017000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
5454000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
15012000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
22310000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
42664000 usd
CY2023Q4 kron Effective Income Tax Rate Reconciliation Lease Liabilities
EffectiveIncomeTaxRateReconciliationLeaseLiabilities
5860000 usd
CY2022Q4 kron Effective Income Tax Rate Reconciliation Lease Liabilities
EffectiveIncomeTaxRateReconciliationLeaseLiabilities
7948000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3894000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4755000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
928000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
1093000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
68304000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
58628000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
21462000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
15963000 usd
CY2023Q4 kron Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
26031000 usd
CY2022Q4 kron Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
18857000 usd
CY2023Q4 kron Deferred Tax Assets Property Plant And Equipment And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentAndIntangibleAssets
29000 usd
CY2022Q4 kron Deferred Tax Assets Property Plant And Equipment And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentAndIntangibleAssets
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
20000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
17000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
126528000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
107261000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
122966000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
100656000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3562000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
6605000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
3562000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
6316000 usd
CY2023Q4 kron Deferred Tax Liabilities Property Plant And Equipment And Intangible Assets
DeferredTaxLiabilitiesPropertyPlantAndEquipmentAndIntangibleAssets
0 usd
CY2022Q4 kron Deferred Tax Liabilities Property Plant And Equipment And Intangible Assets
DeferredTaxLiabilitiesPropertyPlantAndEquipmentAndIntangibleAssets
289000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3562000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6605000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
123000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
100700000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
22300000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
19000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4949 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.66
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3035000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
246000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
944000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1993000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
388000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
796000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4367000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3035000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
100656000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58713000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
22310000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
41943000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
122966000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
100656000 usd
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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7455 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.83
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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3234 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.98
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2151 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.30
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
285 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.23
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8253 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.33
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y7M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
6000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.41
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.57
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
29624 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2000000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
14500000 usd
CY2022 kron Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseShares
0 shares
CY2023 kron Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseShares
0 shares
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24982000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31145000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-112673000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-133204000 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57744000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57744000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56201000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56201000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.95
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.95
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.37
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.37
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9908 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9752 shares

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0001741830-24-000021-index-headers.html Edgar Link pending
0001741830-24-000021-index.html Edgar Link pending
0001741830-24-000021.txt Edgar Link pending
0001741830-24-000021-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
kron-20231231.htm Edgar Link pending
kron-20231231.xsd Edgar Link pending
kron-20231231_g1.jpg Edgar Link pending
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kron10kfy2023ex1013.htm Edgar Link pending
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kron-20231231_def.xml Edgar Link unprocessable
kron-20231231_lab.xml Edgar Link unprocessable
kron-20231231_pre.xml Edgar Link unprocessable
kron-20231231_htm.xml Edgar Link completed
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report.css Edgar Link pending
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kron-20231231_cal.xml Edgar Link unprocessable