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On Thursday, H.C. Wainwright reaffirmed its Buy rating and $115.00 price target for Korro Bio Inc. (NASDAQ:KRRO) shares, which currently trade at $23.72. The firm’s analyst, Mitchell S. Kapoor, provided an update following significant progress in the company’s ongoing clinical trial. According to InvestingPro data, analyst targets for KRRO range from $95 to $180, with a strong consensus recommendation of 1.5 (Buy). Korro Bio recently announced the completion of dosing for the first two healthy volunteer cohorts in the Phase 1/2 trial of KRRO-110, a treatment for alpha-1 antitrypsin deficiency (AATD), based in Australia. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 8.79, though it’s currently burning through cash rapidly - one of several key insights available to Pro subscribers.
The trial, known as REWRITE (NCT06677307), is on schedule, with Korro Bio expecting to deliver an interim readout in the second half of 2025 and aiming for study completion in 2026. Kapoor noted that since dosing began in mid-January with the first volunteer, the interim readout will include less than a year of follow-up for all patients. The upcoming cohorts in the trial will consist of AATD patients, with an anticipated follow-up period of three to nine months at the time of the interim readout.
Korro Bio’s recent update was part of their corporate presentation, which was revised on March 18, 2025. The analyst expressed optimism regarding the trial’s progress, specifically highlighting the completion of dosing in the first two cohorts as a potential indicator of favorable safety results. This milestone supports the firm’s continued positive outlook on Korro Bio’s stock, as reflected in the reiterated price target of $115 per share.
In other recent news, Korro Bio, Inc. has been granted orphan drug designation by the U.S. Food and Drug Administration for KRRO-110, an investigational medicine targeting Alpha-1 Antitrypsin Deficiency (AATD). This designation provides benefits such as tax credits, user fee exemptions, and potential market exclusivity, supporting the development of treatments for rare diseases. KRRO-110 is currently undergoing a Phase 1/2a clinical trial, with interim results anticipated in the latter half of 2025. In another development, Korro Bio announced that Chief Financial Officer Vineet Agarwal is taking a temporary medical leave. During his absence, Dr. Ram Aiyar, the company’s President and CEO, will serve as interim principal financial officer. Additionally, Oliver Dolan has been appointed as interim principal accounting officer. Both appointments are temporary and come as the company continues its pharmaceutical advancements. Dr. Aiyar will not receive additional compensation for his interim role, and Mr. Dolan has extensive experience in finance leadership roles.
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