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SAN MATEO, Calif. – Kronos Bio, Inc. (NASDAQ:KRON), a clinical-stage biopharmaceutical company, has announced the nomination of its development candidate KB-7898 for the treatment of Sjögren’s disease, an autoimmune disorder with no current treatments targeting its underlying cause. The company plans to begin Investigational New Drug (IND)-enabling studies in the fourth quarter of 2024.
KB-7898 is an orally available p300 lysine acetyltransferase (KAT) inhibitor that has shown preclinical efficacy in reducing antibody and cytokine production, which could potentially influence the disease's pathology. Kronos Bio is also considering the application of KB-7898 for other autoimmune diseases in the future.
Preclinical data indicating the role of p300 in inflammatory conditions will be presented at the ACR Convergence 2024 on November 18, 2024. The findings include the selective downregulation of proinflammatory cytokines and decreased inflammation in a rat model, suggesting a promising therapeutic avenue for conditions like Sjögren’s disease.
Sjögren’s disease affects millions in the U.S., with symptoms that can significantly impact the quality of life and lead to severe complications. The disease is more prevalent in women and is often diagnosed in individuals over the age of 40.
Kronos Bio's proprietary discovery engine has been instrumental in identifying KB-7898 as a potential treatment option. The company's pipeline also includes drug candidates for cancer treatments, such as Istisociclib (KB-0742) in a Phase 1/2 clinical trial for ovarian cancer.
This announcement is based on a press release statement from Kronos Bio and reflects the company's current intentions and projections regarding the future of KB-7898 and its potential to address an unmet medical need in autoimmune disease treatment.
InvestingPro Insights
Kronos Bio's recent announcement of KB-7898 as a development candidate for Sjögren's disease reflects the company's commitment to addressing unmet medical needs. However, investors should consider the financial landscape alongside these promising developments.
According to InvestingPro data, Kronos Bio has experienced significant revenue growth, with a 172.76% increase in the last twelve months as of Q2 2024. This growth aligns with the company's progress in its drug development pipeline, including KB-7898 and other candidates like Istisociclib.
Despite the revenue growth, InvestingPro Tips highlight that Kronos Bio is "quickly burning through cash" and is "not profitable over the last twelve months." This is not uncommon for clinical-stage biopharmaceutical companies investing heavily in research and development. The company's operating income margin stands at -1142.7%, reflecting the substantial costs associated with drug development and clinical trials.
On a positive note, an InvestingPro Tip indicates that Kronos Bio "holds more cash than debt on its balance sheet," which could provide some financial flexibility as it moves forward with IND-enabling studies for KB-7898 in Q4 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics. Currently, there are 5 more InvestingPro Tips available for Kronos Bio, providing deeper insights into the company's financial health and market position.
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