$KRRO
Korro Bio, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024059493 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.987M $7.881M $9.156M
YoY Change -3.49% -13.93% -3.39%
% of Gross Profit
Research & Development $17.14M $13.57M $11.36M
YoY Change 273.05% 19.52% -17.6%
% of Gross Profit
Depreciation & Amortization $721.0K $700.0K $1.000M
YoY Change 45.95% -30.0% 37.74%
% of Gross Profit
Operating Expenses $24.13M $21.45M $20.51M
YoY Change 103.91% 4.59% -11.81%
Operating Profit -$24.13M -$21.45M -$20.51M
YoY Change 103.91% 4.59% -11.81%
Interest Expense $284.0K
YoY Change 59.55%
% of Operating Profit
Other Income/Expense, Net $2.329M $1.913M $753.0K
YoY Change 235.59% 154.05% -2314.71%
Pretax Income -$21.80M -$19.54M -$19.52M
YoY Change 101.98% 0.11% -16.49%
Income Tax $30.00K $17.00K $24.00K
% Of Pretax Income
Net Earnings -$21.83M -$19.56M -$19.54M
YoY Change 102.17% 0.07% -16.43%
Net Earnings / Revenue
Basic Earnings Per Share -$2.43 -$2.44 -$72.20
Diluted Earnings Per Share -$2.43 -$2.44 -$0.55
COMMON SHARES
Basic Shares Outstanding 9.273M 8.022M 35.29M
Diluted Shares Outstanding 8.987M 8.020M 271.5K

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $279.0M $138.8M $66.65M
YoY Change 500.18% 108.26% -43.21%
Cash & Equivalents $91.15M $138.8M $40.85M
Short-Term Investments $187.8M $25.80M
Other Short-Term Assets $6.193M $6.851M $2.643M
YoY Change 225.78% 159.21% 2.56%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $163.6M $145.7M $69.29M
YoY Change 238.22% 110.2% -42.23%
LONG-TERM ASSETS
Property, Plant & Equipment $24.70M $20.51M $1.832M
YoY Change 1761.64% 1019.49% -61.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.34M
YoY Change
Other Assets $2.672M $2.468M $2.026M
YoY Change 36.33% 21.82% 0.0%
Total Long-Term Assets $85.96M $52.33M $32.21M
YoY Change 177.26% 62.48% -28.43%
TOTAL ASSETS
Total Short-Term Assets $163.6M $145.7M $69.29M
Total Long-Term Assets $85.96M $52.33M $32.21M
Total Assets $249.6M $198.0M $101.5M
YoY Change 214.41% 95.06% -38.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.689M $4.657M $2.715M
YoY Change 339.64% 71.53% 20.83%
Accrued Expenses $6.178M $5.161M $5.567M
YoY Change 26.83% -7.29% 16.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.67M
YoY Change 250.05%
Total Short-Term Liabilities $12.32M $11.05M $22.04M
YoY Change 47.98% -49.84% 81.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.183M $893.0K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $1.183M $893.0K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.32M $11.05M $22.04M
Total Long-Term Liabilities $1.183M $893.0K $0.00
Total Liabilities $51.51M $46.63M $48.25M
YoY Change 51.61% -3.37% -7.69%
SHAREHOLDERS EQUITY
Retained Earnings -$224.4M -$202.6M -$281.2M
YoY Change -23.15% -27.95% 38.21%
Common Stock $9.000K $8.000K $36.00K
YoY Change -75.0% -77.78% 2.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $198.1M $151.4M $53.25M
YoY Change
Total Liabilities & Shareholders Equity $249.6M $198.0M $101.5M
YoY Change 214.41% 95.06% -38.46%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$21.83M -$19.56M -$19.54M
YoY Change 102.17% 0.07% -16.43%
Depreciation, Depletion And Amortization $721.0K $700.0K $1.000M
YoY Change 45.95% -30.0% 37.74%
Cash From Operating Activities -$14.59M -$21.89M -$14.13M
YoY Change 73.23% 54.9% -18.51%
INVESTING ACTIVITIES
Capital Expenditures $5.961M $5.611M $100.0K
YoY Change 5511.0% 733.33%
Acquisitions
YoY Change
Other Investing Activities -$96.43M $0.00 $5.599M
YoY Change -601.96% -100.0% -144.26%
Cash From Investing Activities -$102.4M -$5.611M $5.499M
YoY Change -632.99% -202.04% -143.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.500M
YoY Change
Cash From Financing Activities 67.56M 139.0K -2.468M
YoY Change -679.03% -105.63% -1334.0%
NET CHANGE
Cash From Operating Activities -14.59M -21.89M -14.13M
Cash From Investing Activities -102.4M -5.611M 5.499M
Cash From Financing Activities 67.56M 139.0K -2.468M
Net Change In Cash -49.43M -27.36M -11.10M
YoY Change 5517.05% 146.49% -62.75%
FREE CASH FLOW
Cash From Operating Activities -$14.59M -$21.89M -$14.13M
Capital Expenditures $5.961M $5.611M $100.0K
Free Cash Flow -$20.55M -$27.50M -$14.23M
YoY Change 143.99% 93.24% -17.99%

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CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8019626
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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865000
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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343000
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CY2023Q1 us-gaap Profit Loss
ProfitLoss
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CY2023Q1 krro Non Cash Lease Expenses
NonCashLeaseExpenses
432000
CY2024Q1 krro Share Based Compensation Expense
ShareBasedCompensationExpense
865000
CY2023Q1 krro Share Based Compensation Expense
ShareBasedCompensationExpense
349000
CY2024Q1 us-gaap Depreciation
Depreciation
726000
CY2023Q1 krro Property And Equipment Capitalized Under Tenant Improvement Allowance
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0
CY2024Q1 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
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1942000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
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CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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343000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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5000
CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2024Q1 us-gaap Profit Loss
ProfitLoss
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CY2024Q1 krro Non Cash Lease Expenses
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1203000
CY2023Q1 krro Non Cash Lease Expenses
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432000
CY2024Q1 krro Share Based Compensation Expense
ShareBasedCompensationExpense
865000
CY2023Q1 krro Share Based Compensation Expense
ShareBasedCompensationExpense
349000
CY2024Q1 us-gaap Depreciation
Depreciation
726000
CY2023Q1 us-gaap Depreciation
Depreciation
809000
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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68000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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290000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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341000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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549000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5048000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2024Q1 krro Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
2709000
CY2023Q1 krro Increase Decrease In Lease Liabilities
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CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
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2000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
0
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
17000000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5611000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
139000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
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51000
CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
139000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45401000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-27363000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
41199000
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
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145756000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82676000
CY2023Q1 us-gaap Depreciation
Depreciation
809000
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
68000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
290000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
341000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2585000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
549000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5048000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1117000
CY2024Q1 krro Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
2709000
CY2023Q1 krro Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-695000
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
0
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
17000000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5611000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
15487000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
139000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
51000
CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
139000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45401000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-27363000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
41199000
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
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145756000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82676000
CY2024Q1 krro Property And Equipment Capitalized Under Tenant Improvement Allowance
PropertyAndEquipmentCapitalizedUnderTenantImprovementAllowance
2555000
CY2023Q1 krro Property And Equipment Capitalized Under Tenant Improvement Allowance
PropertyAndEquipmentCapitalizedUnderTenantImprovementAllowance
0
CY2024Q1 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1942000
CY2023Q1 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1753000
CY2024Q1 krro Financing Costs In Accounts Payable And Accrued Expenses
FinancingCostsInAccountsPayableAndAccruedExpenses
0
CY2023Q1 krro Financing Costs In Accounts Payable And Accrued Expenses
FinancingCostsInAccountsPayableAndAccruedExpenses
42000
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
17000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
828000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
744000
CY2024Q1 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
0.049688
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
138800000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-202600000
CY2023Q1 krro Purchases Of Property And Equipment In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1753000
CY2024Q1 krro Financing Costs In Accounts Payable And Accrued Expenses
FinancingCostsInAccountsPayableAndAccruedExpenses
0
CY2023Q1 krro Financing Costs In Accounts Payable And Accrued Expenses
FinancingCostsInAccountsPayableAndAccruedExpenses
42000
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
17000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
828000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
744000
CY2024Q1 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
0.049688
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
138800000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-202600000
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<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="text-indent:4.533%;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 contingent value rights ("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>
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<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="text-indent:4.533%;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 contingent value rights ("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 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
3600000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3400000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
138804000
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
6952000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
6969000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
145756000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
3600000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3400000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
138804000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
166150000
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
6952000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
6969000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
145756000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
173119000
CY2024Q1 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
Shorter of useful life or remaining lease term
CY2023 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
Shorter of useful life or remaining lease term
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29076000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23507000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20509000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15665000
CY2024Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
13400000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
173119000
CY2024Q1 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
Shorter of useful life or remaining lease term
CY2023 us-gaap Property Plant And Equipment Dispositions
PropertyPlantAndEquipmentDispositions
Shorter of useful life or remaining lease term
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29076000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23507000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8567000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7842000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20509000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15665000
CY2024Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
13400000
CY2023Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
8200000
CY2024Q1 us-gaap Depreciation
Depreciation
700000
CY2023Q1 us-gaap Depreciation
Depreciation
800000
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2675000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7896000
CY2023Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
8200000
CY2024Q1 us-gaap Depreciation
Depreciation
700000
CY2023Q1 us-gaap Depreciation
Depreciation
800000
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2675000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7896000
CY2024Q1 krro Accrued External Research And Development Services Current
AccruedExternalResearchAndDevelopmentServicesCurrent
1577000
CY2023Q4 krro Accrued External Research And Development Services Current
AccruedExternalResearchAndDevelopmentServicesCurrent
1255000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
140000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
447000
CY2024Q1 krro Cvr Liability Current
CvrLiabilityCurrent
556000
CY2023Q4 krro Cvr Liability Current
CvrLiabilityCurrent
395000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
213000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
219000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5161000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10212000
CY2024Q1 krro Accrued External Research And Development Services Current
AccruedExternalResearchAndDevelopmentServicesCurrent
1577000
CY2023Q4 krro Accrued External Research And Development Services Current
AccruedExternalResearchAndDevelopmentServicesCurrent
1255000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
140000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
447000
CY2024Q1 krro Cvr Liability Current
CvrLiabilityCurrent
556000
CY2023Q4 krro Cvr Liability Current
CvrLiabilityCurrent
395000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
213000
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