Korro Bio, Inc.
KRROHealthcare|Biotechnology|US
$14.75
+0.02 (+0.14%)
DCF Value
$9.43
Tangible Book / Share
$4.95
Cash / Share
$5.88
Financials
Financial Snapshot
Market Cap
$217.2M
Enterprise Value
$218.5M
Revenue (TTM)
$1.3M
Net Income (TTM)
-$106.1M
Cash & Investments
$105.0M
Net Cash
$63.5M
Free Cash Flow (TTM)
-$63.9M
Operating CF (TTM)
-$63.7M
Debt/Equity
0.47
Cash Runway & Burn Rate
Cash on Hand
$105.0M
Quarterly Burn
$15.9M
Monthly Burn
$5.3M
Est. Runway
~6.6 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $17.9M | $42.2M | $217.4M | $220.3M | $130.7M | $55.9M | $166.2M | $126.1M | $75.2M | $105.0M | |
| Operating Cash Flow | -$14.6M | -$17.0M | $34.2M | -$45.2M | -$32.1M | -$53.6M | -$67.3M | -$60.1M | -$78.6M | -$63.7M | |
| Free Cash Flow | -$16.5M | -$17.5M | $33.2M | -$51.9M | -$36.5M | -$58.9M | -$75.1M | -$78.0M | -$79.1M | -$63.9M | |
| Capital Expenditure | -$1.9M | -$436.0K | -$1.1M | -$6.7M | -$4.4M | -$5.2M | -$7.8M | -$17.9M | -$518.0K | -$169.0K | |
| Financing Cash Flow | $28.0M | $37.9M | $142.0M | $56.7M | $115.9M | $18.0K | $187.8M | $69.4M | $685.0K | $85.7M |
R&D Spending
R&D (TTM)
$49.6M
R&D Intensity
3841.2%
R&D Growth vs Prior
-24.3%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $28.9M | $37.0M | $0.00 | $0.00 | $0.00 | $2.3M | $6.4M | $1.3M | |
| R&D Expense | $11.8M | $11.6M | $18.3M | $36.7M | $23.8M | $42.2M | $57.3M | $63.6M | $65.6M | $49.6M | |
| R&D % of Revenue | — | — | 63.3% | 99.1% | — | — | — | 2802.1% | 1025.9% | 3841.2% | |
| SG&A | $4.0M | $6.7M | $14.5M | $26.3M | $11.7M | $16.8M | $36.5M | $30.5M | $28.2M | $26.5M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $28.9M | $37.0M | $0.00 | $0.00 | $0.00 | $2.3M | $6.4M | $1.3M | |
| Cost of Revenue | $531.0K | $654.0K | $16.8M | $1.6M | $0.00 | $0.00 | $0.00 | $0.00 | $4.3M | $649.0K | |
| Gross Profit | -$531.0K | -$654.0K | $12.1M | $35.4M | $0.00 | $0.00 | $0.00 | $2.3M | $2.1M | $643.0K | |
| R&D | $11.8M | $11.6M | $18.3M | $36.7M | $23.8M | $42.2M | $57.3M | $63.6M | $65.6M | $49.6M | |
| SG&A | $4.0M | $6.7M | $14.5M | $26.3M | $11.7M | $16.8M | $36.5M | $30.5M | $28.2M | $26.5M | |
| Operating Income | -$16.3M | -$18.9M | -$20.7M | -$27.6M | -$35.5M | -$59.0M | -$84.5M | -$91.9M | -$87.3M | -$74.9M | |
| Interest Expense | $174.0K | $106.0K | $0.00 | $0.00 | $0.00 | $118.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$20.2M | -$19.2M | -$18.7M | -$26.5M | -$22.0M | -$58.0M | -$81.1M | -$83.4M | -$116.6M | -$105.0M | |
| Net Income | -$20.2M | -$19.2M | -$18.7M | -$26.5M | -$22.0M | -$58.0M | -$81.2M | -$83.6M | -$117.3M | -$106.1M | |
| EPS (Diluted) | -32.27 | -30.57 | -30.39 | -41.10 | -4.94 | -227.42 | -53.08 | -9.37 | -12.48 | -9.07 | |
| EBITDA | -$19.5M | -$18.4M | -$17.9M | -$24.9M | -$33.9M | -$56.5M | -$80.9M | -$88.3M | -$83.1M | -$73.1M | |
| Shares Out. (M) | 0.63 | 0.63 | 0.62 | 0.65 | 4.45 | 0.26 | 1.53 | 8.92 | 9.40 | 17.87 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.9M | $42.2M | $200.2M | $220.3M | $79.6M | $36.9M | $166.2M | $55.6M | $21.8M | $40.2M | |
| Short-Term Investments | $0.00 | $0.00 | $17.2M | $0.00 | $51.1M | $18.9M | $0.00 | $70.5M | $53.3M | $64.8M | |
| Total Current Assets | $18.0M | $42.9M | $221.4M | $225.1M | $134.7M | $57.1M | $172.7M | $131.5M | $82.4M | $108.9M | |
| Total Assets | $19.8M | $44.5M | $223.2M | $264.7M | $185.4M | $73.7M | $221.7M | $226.2M | $113.5M | $148.1M | |
| Total Current Liabilities | $2.2M | $3.8M | $52.8M | $26.6M | $11.4M | $8.7M | $19.5M | $15.0M | $11.9M | $14.9M | |
| Long-Term Debt | $46.7M | $84.9M | $0.00 | $15.0M | $14.2M | $163.9M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $49.4M | $89.1M | $55.9M | $72.2M | $54.5M | $172.8M | $51.8M | $65.8M | $62.1M | $59.7M | |
| Stockholders' Equity | -$29.6M | -$48.3M | $167.4M | $192.5M | $130.8M | -$99.0M | $169.9M | $160.4M | $51.4M | $88.4M | |
| Retained Earnings | -$29.9M | -$49.1M | -$68.9M | -$95.4M | -$180.1M | -$101.8M | -$183.0M | -$266.6M | -$383.8M | -$439.9M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$14.6M | -$17.0M | $34.2M | -$45.2M | -$32.1M | -$53.6M | -$67.3M | -$60.1M | -$78.6M | -$63.7M | |
| Capital Expenditure | -$1.9M | -$436.0K | -$1.1M | -$6.7M | -$4.4M | -$5.2M | -$7.8M | -$17.9M | -$518.0K | -$169.0K | |
| Free Cash Flow | -$16.5M | -$17.5M | $33.2M | -$51.9M | -$36.5M | -$58.9M | -$75.1M | -$78.0M | -$79.1M | -$63.9M | |
| Investing Cash Flow | -$1.9M | $3.3M | -$18.3M | $10.4M | -$39.5M | $11.1M | $11.2M | -$123.3M | $44.0M | -$7.0M | |
| Financing Cash Flow | $28.0M | $37.9M | $142.0M | $56.7M | $115.9M | $18.0K | $187.8M | $69.4M | $685.0K | $85.7M | |
| Issuance of Stock | $28.0M | $32.9M | $142.0M | $41.7M | $28.0K | $62.0K | $117.3M | $67.4M | $685.0K | $168.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $5.0M | $0.00 | $15.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $807.0K | $1.1M | $2.4M | $4.5M | $7.7M | $10.3M | |
| Net Change in Cash | $11.5M | $24.3M | $158.0M | $20.2M | $44.4M | -$42.6M | $131.6M | -$114.1M | -$33.8M | $15.1M |
Dilution Tracker
Shares outstanding grew 1356.5% over 5 years — significant dilution
Shares Outstanding
15M
5-Year Share Growth
+1356.5%
Stock Issuance (TTM)
$168.8M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.63 | 0.63 | 0.62 | 0.65 | 4.45 | 0.26 | 1.53 | 8.92 | 9.40 | 17.87 | |
| Change vs Prior % | — | 0.0% | -1.6% | 4.6% | 589.4% | -94.3% | 499.3% | 483.3% | 5.3% | 90.2% | |
| Stock Issuance | $28.0M | $32.9M | $142.0M | $41.7M | $28.0K | $62.0K | $117.3M | $67.4M | $685.0K | $168.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $807.0K | $1.1M | $2.4M | $4.5M | $7.7M | $10.3M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | 41.9% | 95.7% | — | — | — | 100.0% | 33.0% | 49.8% | |
| Operating Margin % | — | — | -71.4% | -74.5% | — | — | — | -4047.1% | -1366.4% | -5796.1% | |
| Net Margin % | — | — | -64.8% | -71.7% | — | — | — | -3680.4% | -1834.5% | -8214.5% | |
| EBITDA Margin % | — | — | -62.0% | -67.3% | — | — | — | -3890.1% | -1299.5% | -5660.6% | |
| FCF Margin % | — | — | 114.5% | -140.2% | — | — | — | -3433.6% | -1237.2% | -4943.8% | |
| ROE % | 68.3% | 39.7% | -11.2% | -13.8% | -16.8% | 58.6% | -47.8% | -52.1% | -228.0% | -117.1% | |
| ROA % | -102.3% | -43.0% | -8.4% | -10.0% | -11.8% | -78.7% | -36.6% | -36.9% | -103.3% | -71.7% | |
| ROIC % | -92.8% | -46.5% | -12.1% | -11.6% | -20.1% | -86.8% | -41.4% | -43.2% | -83.8% | -55.0% | |
| R&D / Revenue % | — | — | 63.3% | 99.1% | — | — | — | 2802.1% | 1025.9% | 3841.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 27.8% | -100.0% | 0.0% | 0.0% | 0.0% | 181.5% | |
| Gross Profit | 0.0% | -23.2% | 1955.4% | 191.8% | -100.0% | 0.0% | 0.0% | 0.0% | -7.0% | |
| Operating Income | 0.0% | -16.2% | -9.1% | -33.3% | -28.8% | -66.2% | -43.3% | -8.7% | 5.0% | |
| Net Income | 0.0% | 5.3% | 2.2% | -41.4% | 17.2% | -164.3% | -39.9% | -3.0% | -40.3% | |
| EPS (Diluted) | 0.0% | 5.3% | 0.6% | -35.2% | 88.0% | -4503.6% | 76.7% | 82.3% | -33.2% | |
| Operating Cash Flow | 0.0% | -16.5% | 301.0% | -232.1% | 29.0% | -67.1% | -25.4% | 10.7% | -30.8% | |
| Free Cash Flow | 0.0% | -6.0% | 289.9% | -256.4% | 29.5% | -61.1% | -27.6% | -3.8% | -1.4% | |
| R&D Expense | 0.0% | -1.7% | 58.3% | 99.9% | -35.1% | 77.3% | 35.7% | 11.2% | 3.0% | |
| SG&A Expense | 0.0% | 68.2% | 115.7% | 81.7% | -55.6% | 43.7% | 117.5% | -16.4% | -7.8% | |
| Total Assets | 0.0% | 125.1% | 401.1% | 18.6% | -30.0% | -60.2% | 200.6% | 2.1% | -49.8% | |
| Book Value / Share | 0.0% | -50.2% | 482.2% | 10.0% | -90.1% | -1420.1% | 128.6% | -83.8% | -69.6% | |
| Debt | 0.0% | 81.9% | -100.0% | 0.0% | -0.9% | 266.2% | -80.1% | 34.8% | -2.9% | |
| Diluted Shares | 0.0% | 0.0% | -1.6% | 4.6% | 589.4% | -94.3% | 499.3% | 483.3% | 5.3% |
Valuation
P/E (TTM)At Loss
P/S168.11
10Y Low / Med / High11.77 / 30.75 / 149.54
P/B2.98
10Y Low / Med / High0.43 / 3.23 / 8.72
EV/EBITDAAt Loss
EV/Revenue169.13
10Y Low / Med / High11.76 / 26.04 / 144.75
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$9.43
Tangible Book / Share
$4.95
Net Current Assets / Share
$3.34
Graham Net-Net
$2.53
Cash / Share
$5.88
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -21.23 | -22.41 | -28.84 | -42.90 | -51.92 | -0.85 | -0.90 | -4.06 | -0.64 | -1.63 | |
| P/S Ratio | 0.00 | 0.00 | 18.68 | 30.75 | 0.00 | 0.00 | 0.00 | 149.54 | 11.77 | 168.11 | |
| P/B Ratio | -14.49 | -8.90 | 3.23 | 5.91 | 8.72 | -0.50 | 0.43 | 2.12 | 1.46 | 2.98 | |
| EV/EBITDA | -23.46 | -25.66 | -18.99 | -38.68 | -32.64 | -3.17 | 0.74 | -3.72 | -1.17 | -2.99 | |
| EV/Revenue | 0.00 | 0.00 | 11.76 | 26.04 | 0.00 | 0.00 | 0.00 | 144.75 | 15.16 | 169.13 |
Analyst Estimates & Quality
Altman Z-Score
-2.87
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $333.3K | $525.0K | $1.4M |
| Net Income | -$54.6M | -$45.2M | -$37.9M |
| EPS | $-5.32 | $-4.88 | $-4.15 |
| # Analysts (EPS) | 8 | 8 | 7 |