Korro Bio Inc Dossier - Source-backed chat

Korro Bio Inc

KRRONASDAQ

SectorHealth Care

IndustryBiotechnology

Beta (adjusted)1.83

Intrinsic Value

Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet.

Market Price $9.71Price as of 1 Oct 2026

Data confidenceNot applicable

Market Cap $143M

Enterprise Value $118.1M

Shares Outstanding 14.6M diluted

Next Earnings Date12 Nov 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

Korro Bio is a clinical-stage biopharmaceutical company pioneering a highly differentiated RNA editing platform (OPERA). Following the strategic pivot from its initial lipid nanoparticle (LNP) delivered candidate (KRRO-110) to liver-targeted GalNAc-conjugated oligonucleotides, the company has significantly de-risked its pipeline. The selection of KRRO-111 as the new development candidate for Alpha-1 Antitrypsin Deficiency (AATD) and the advancement of KRRO-121 for hyperammonemia position Korro to capture substantial value in rare genetic diseases. Backed by a robust cash runway extending into H2 2028 following an oversubscribed $85 million private placement in March 2026, Korro is well-capitalized to reach key clinical inflection points.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets10 analysts · as of 18 Aug 2026

Low · most bearish analyst$8.00

Mean target$20.00

High · most bullish analyst$30.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 19 Jun 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$8.00

Korro experiences regulatory or clinical delays with KRRO-121, pushing the first-in-human trials into 2027. Preclinical translation of KRRO-111 fails to show sufficient functional M-AAT protein levels in early clinical cohorts, mirroring the delivery challenges of KRRO-110. The cash burn accelerates, forcing dilutive financing, and the stock drops toward its historical lows.

Base CaseCentral scenario

$20.00

Matches the consensus mean

Korro successfully files its regulatory application for KRRO-121 in H2 2026 and initiates Phase 1 trials. KRRO-111 advances steadily through IND-enabling studies. The company maintains disciplined cash management, preserving its runway into 2028, and the stock trades toward the consensus analyst target as clinical execution progresses.

Bull CaseUpside scenario

$30.00

KRRO-121 successfully enters the clinic in H2 2026 and demonstrates robust, safe ammonia clearance in humans. KRRO-111 preclinical data translates to >90% RNA editing in clinical trials, establishing it as a best-in-class subcutaneous therapy for AATD that avoids the safety risks of permanent DNA modification. The Novo Nordisk collaboration resumes with significant milestone payments, and the stock achieves the high-end analyst target.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Proprietary OPERA platform enables precise, transient single-base RNA edits without permanently modifying genomic DNA, offering a superior safety profile over CRISPR-based therapies.
Strong balance sheet with $157.1 million in cash and marketable securities as of March 31, 2026, providing an operational runway into the second half of 2028.
Preclinical data for KRRO-111 demonstrates >90% editing of SERPINA1 transcripts and ~90% functional M-AAT protein restoration in plasma, indicating best-in-class potential.
Strategic pipeline diversification with KRRO-121 targeting hyperammonemia, which is on track for a regulatory filing in H2 2026.

Key Investment Risks

Clinical translation risk: Preclinical success in animal models may not fully translate to therapeutic efficacy or safety in human trials, as seen with the previous KRRO-110 candidate.
Platform transition risk: The pivot to GalNAc-conjugated delivery systems (KRRO-111 and KRRO-121) requires successful clinical validation of the new delivery modality.
Intense competition: Competitors like Wave Life Sciences (WVE) and Beam Therapeutics (BEAM) are also actively developing genetic therapies for AATD.

Thesis Invalidation Triggers

Failure to submit the regulatory filing for KRRO-121 in the second half of 2026.
Unexpected safety signals or dose-limiting toxicities in upcoming clinical trials for KRRO-121 or KRRO-111.
Termination or permanent cancellation of the cardiometabolic disease collaboration with Novo Nordisk.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.