$KRRO
Korro Bio, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024036396 Filed on March 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.881M $786.0K $27.28M
YoY Change -13.93% -89.59% -18.76%
% of Gross Profit
Research & Development $13.57M $38.74M $57.25M
YoY Change 19.52% 263.8% 15.85%
% of Gross Profit
Depreciation & Amortization $700.0K $1.750M $3.630M
YoY Change -30.0% 160.42% 31.24%
% of Gross Profit
Operating Expenses $21.45M $39.53M $84.53M
YoY Change 4.59% 117.23% 1.85%
Operating Profit -$21.45M -$84.53M
YoY Change 4.59% 1.85%
Interest Expense -$1.033M
YoY Change -807.53%
% of Operating Profit
Other Income/Expense, Net $1.913M $1.346M $3.389M
YoY Change 154.05% 93.67% 220.93%
Pretax Income -$19.54M -$39.21M -$81.15M
YoY Change 0.11% 125.95% -0.54%
Income Tax $17.00K $5.000K $27.00K
% Of Pretax Income
Net Earnings -$19.56M -$39.22M -$81.17M
YoY Change 0.07% 125.89% -0.5%
Net Earnings / Revenue
Basic Earnings Per Share -$2.44 -$53.08
Diluted Earnings Per Share -$2.44 -$9.91 -$53.08
COMMON SHARES
Basic Shares Outstanding 8.022M 36.93M 1.529M
Diluted Shares Outstanding 8.020M 1.529M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.8M $166.2M $166.2M
YoY Change 108.26% 99.95% 99.95%
Cash & Equivalents $138.8M $166.2M $166.2M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $6.851M $6.578M $6.578M
YoY Change 159.21% 2479.61% 66.66%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $145.7M $172.7M $172.7M
YoY Change 110.2% 97.42% 97.42%
LONG-TERM ASSETS
Property, Plant & Equipment $20.51M $42.82M $42.82M
YoY Change 1019.49% 1463.16% 34.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.468M $6.120M $6.120M
YoY Change 21.82% 202.07% 202.07%
Total Long-Term Assets $52.33M $48.94M $48.94M
YoY Change 62.48% 45.01% 45.01%
TOTAL ASSETS
Total Short-Term Assets $145.7M $172.7M $172.7M
Total Long-Term Assets $52.33M $48.94M $48.94M
Total Assets $198.0M $221.7M $221.7M
YoY Change 95.06% 82.83% 82.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.657M $7.280M $7.280M
YoY Change 71.53% 133.78% 133.78%
Accrued Expenses $5.161M $11.81M $11.81M
YoY Change -7.29% 100.44% 59.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.05M $19.48M $19.48M
YoY Change -49.84% -7.34% -7.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $893.0K $32.27M $32.27M
YoY Change 36157.3% 20.18%
Total Long-Term Liabilities $893.0K $32.27M $32.27M
YoY Change 36157.3% 4.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.05M $19.48M $19.48M
Total Long-Term Liabilities $893.0K $32.27M $32.27M
Total Liabilities $46.63M $51.75M $51.75M
YoY Change -3.37% -0.56% -0.56%
SHAREHOLDERS EQUITY
Retained Earnings -$202.6M -$183.0M
YoY Change -27.95% -30.06%
Common Stock $8.000K $8.000K
YoY Change -77.78% -77.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $151.4M $169.9M $169.9M
YoY Change
Total Liabilities & Shareholders Equity $198.0M $221.7M $221.7M
YoY Change 95.06% 82.83% 82.83%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$19.56M -$39.22M -$81.17M
YoY Change 0.07% 125.89% -0.5%
Depreciation, Depletion And Amortization $700.0K $1.750M $3.630M
YoY Change -30.0% 160.42% 31.24%
Cash From Operating Activities -$21.89M -$39.92M -$67.28M
YoY Change 54.9% 155.61% 15.53%
INVESTING ACTIVITIES
Capital Expenditures $5.611M $7.736M $7.836M
YoY Change 5511.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$12.63M $19.00M
YoY Change -100.0% -151.43% -38.97%
Cash From Investing Activities -$5.611M -$20.37M $11.16M
YoY Change -202.04% -182.92% -64.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $163.4M
YoY Change 272250.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 139.0K 201.9M 187.8M
YoY Change -105.63% -24336.61% -32640.9%
NET CHANGE
Cash From Operating Activities -21.89M -39.92M -67.28M
Cash From Investing Activities -5.611M -20.37M 11.16M
Cash From Financing Activities 139.0K 201.9M 187.8M
Net Change In Cash -27.36M 141.6M 131.6M
YoY Change 146.49% 1646.45% -575.57%
FREE CASH FLOW
Cash From Operating Activities -$21.89M -$39.92M -$67.28M
Capital Expenditures $5.611M $7.736M $7.836M
Free Cash Flow -$27.50M -$47.66M -$75.12M
YoY Change 93.24% 205.13% 28.99%

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CashAcquiredInConnectionWithTheReverseRecapitalization
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CY2022 krro Cash Acquired In Connection With The Reverse Recapitalization
CashAcquiredInConnectionWithTheReverseRecapitalization
0
CY2023 krro Payment Of Reverse Recapitalization Transaction Costs
PaymentOfReverseRecapitalizationTransactionCosts
12247000
CY2022 krro Payment Of Reverse Recapitalization Transaction Costs
PaymentOfReverseRecapitalizationTransactionCosts
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CY2023 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-44000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
131642000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41477000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
84044000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
173119000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41477000
CY2023 krro Property And Equipment Capitalized Under Tenant Improvement Allowance
PropertyAndEquipmentCapitalizedUnderTenantImprovementAllowance
2271000
CY2022 krro Property And Equipment Capitalized Under Tenant Improvement Allowance
PropertyAndEquipmentCapitalizedUnderTenantImprovementAllowance
0
CY2023 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1983000
CY2022 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
402000
CY2023 krro Operating Lease Liabilities Arising From Right Of Use Assets
OperatingLeaseLiabilitiesArisingFromRightOfUseAssets
26777000
CY2022 krro Operating Lease Liabilities Arising From Right Of Use Assets
OperatingLeaseLiabilitiesArisingFromRightOfUseAssets
5629000
CY2023 krro Operating Lease Liabilities Arising From Lease Modification
OperatingLeaseLiabilitiesArisingFromLeaseModification
1959000
CY2022 krro Operating Lease Liabilities Arising From Lease Modification
OperatingLeaseLiabilitiesArisingFromLeaseModification
0
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
27000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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2978000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
2335000
CY2023Q4 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
0.049688
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
166100000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023 us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to the fair value of the common stock prior to the effective date of the merger; the fair value of the CVR liability and the incremental borrowing rate for determining lease liabilities and right-of-use assets. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it has concluded to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ materially from those estimates or assumptions.</span></p>
CY2023 krro Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Off-Balance Sheet Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk primarily consist of cash, cash equivalents and investments. Cash balances are deposited with federally-insured financial institutions in the United States and may, at times, exceed federally-insured limits. The Company maintains its cash, cash equivalents and investments with high-quality financial institutions and, consequently, the Company believes that such funds are subject to minimal credit risk. The Company’s cash equivalents are comprised of money market funds that are invested in U.S. Treasury and government agency obligations. The Company’s investments are comprised of commercial paper and government securities. Credit risk in these securities is reduced as a result of the Company’s investment policy to limit the amount invested in any single issuer and to only invest in securities of a high credit quality.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company relies, and expects to continue to rely, on a small number of vendors to manufacture supplies and to process its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process or supply chain.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has no significant off-balance sheet risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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SeverancePayment
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CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
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CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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18920000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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0
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
18915000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
4000000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15665000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9866000
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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PreferredStockSharesAuthorized
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CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
3600000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3400000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
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CY2022Q4 us-gaap Restricted Cash Noncurrent
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4500000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
166150000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
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173119000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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41477000
CY2023 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
Shorter of useful life or remaining lease term
CY2022 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
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CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7842000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Construction In Progress Gross
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8200000
CY2022Q4 us-gaap Construction In Progress Gross
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2000000
CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2023Q4 krro Accrued External Research And Development Services Current
AccruedExternalResearchAndDevelopmentServicesCurrent
1255000
CY2022Q4 krro Accrued External Research And Development Services Current
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274000
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447000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
207000
CY2023Q4 krro Cvr Liability Current
CvrLiabilityCurrent
395000
CY2022Q4 krro Cvr Liability Current
CvrLiabilityCurrent
0
CY2023Q4 us-gaap Accrued Professional Fees Current
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CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
70000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10212000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3175000
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
In addition, the number of shares of common stock available for issuance under the 2023 Plan will be automatically increased on the first day of each calendar year during the ten-year term of the 2023 Plan, beginning with January 1, 2024 and ending with January 1, 2033, by the amount equal to 5% of the outstanding number of shares of the Company’s common stock on December 31 of the preceding calendar year or such lesser amount as determined by the Company’s board of directors.
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2381000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.043
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.728
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.729
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.49
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.95
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
461100
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.95
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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2953000
CY2023 krro Reverse Recapitalization
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93153
CY2023 krro Weighted Average Exercise Price Reverse Recapitalization
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121.91
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
835839
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
17.33
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.41
CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense
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314000
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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7715000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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20091
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.07
CY2023 krro Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod
7455
CY2023 krro Weighted Average Exercise Price Cancelled
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18.85
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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23.49
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P8Y4M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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36310000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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368036
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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34.6
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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8457000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P3Y1M6D
CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2023 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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10000
CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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10000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.061
CY2023 krro Effective Income Tax Credit Carryforwards
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0.036
CY2022 krro Effective Income Tax Credit Carryforwards
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.01
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.002
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.327
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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19580000
CY2023Q4 us-gaap Tax Credit Carryforward Amount
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22474000
CY2022Q4 us-gaap Tax Credit Carryforward Amount
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5477000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
34395000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
10279000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4494000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
319000
CY2023Q4 krro Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
1138000
CY2022Q4 krro Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
0
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
9052000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
855000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1543000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
707000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
153481000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
37217000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
145766000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36094000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
7715000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1123000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
7401000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
552000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1529321
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1123000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2023 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Under current law, the Company's federal NOLs generated in taxable years ending after December 31, 2017, may be carried forward indefinitely, but the deductibility of such federal NOLs is limited to 80% of the Company's taxable income annually for tax years beginning after December 31, 2018. Federal NOLs generated in taxable years ending on or prior to December 31, 2017, however, have a 20-year carryforward period, but are not subject to the 80% limitation
CY2023Q4 krro Net Operating Loss Carryforwards Expiration Without Limitation
NetOperatingLossCarryforwardsExpirationWithoutLimitation
280100000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
145800000
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
109700000
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Explanation Of Change
ValuationAllowanceDeferredTaxAssetExplanationOfChange
the additional operating loss generated by the Company and the combination of deferred tax assets as a result of the Merger
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2023Q4 krro Reimbursements With In Research And Development Expense
ReimbursementsWithInResearchAndDevelopmentExpense
1200000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7227000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6247000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7341000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7557000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
52498000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
66416000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
33209000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
33207000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.112
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1529321
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
255175
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
5948000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
1675000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
1211000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
732000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
921000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
626000
CY2023 us-gaap Lease Cost
LeaseCost
8080000
CY2022 us-gaap Lease Cost
LeaseCost
3033000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2022Q2 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.03
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
500000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2023 krro Incurred Expenses
IncurredExpenses
0
CY2022 krro Incurred Expenses
IncurredExpenses
0
CY2023 us-gaap Affiliate Costs
AffiliateCosts
0
CY2022 us-gaap Affiliate Costs
AffiliateCosts
0
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-81172000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-58032000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
255175
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-53.08
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-53.08
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-227.42
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-227.42

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