05:12 PM EDT, 05/14/2024 (MT Newswires) -- Korro Bio ( KRRO ) reported Q1 net loss Tuesday of $2.44 per diluted share, narrower than a loss of $72.20 a year earlier.

Analysts polled by Capital IQ expected a loss of $2.51.

The company did not report revenue for the quarter ended March 31. Cash and cash equivalents at the end of the quarter were $138.8 million, which together with gross proceeds of $70 million from an April private placement, will fund operating expenses and capital expenditure requirements into the second half of 2026.

Korro appointed Kemi Olugemo as chief medical officer. Olugemo previously served as therapeutic head of neurology global clinical development at Ultragenyx Pharmaceutical (RARE), according to the company.