Kronos Bio

Cargo Therapeutics agreed to be acquired by Concentra Biosciences for approximately $202 million upfront after halting development of its lead CAR-T therapy firicabtagene autoleucel due to poor durability results.

Elevation Oncology has agreed to be acquired by Concentra Biosciences, controlled by hedge fund Tang Capital Partners, for $0.36 per share in cash with additional contingent value rights.

• Kronos Bio discontinued istisociclib (KB-0742) development after safety concerns arose in a Phase I/II trial for platinum-resistant high-grade serous ovarian cancer. • The trial revealed neurological adverse events in five of seven patients, leading to treatment discontinuation or dosage reduction in some participants. • Facing financial pressures, Kronos Bio is exploring strategic alternatives, including acquisition or merger, to maximize stockholder value and preserve cash. • The company is also seeking partnerships for preclinical assets KB-9558 and KB-7898, while focusing on IND application for multiple myeloma and autoimmune disorders.

• Kronos Bio has nominated KB-7898, a p300 KAT inhibitor, as its first development candidate for autoimmune diseases, specifically targeting Sjögren's disease. • KB-7898, designed as an oral therapy, aims to modulate immune responses by inhibiting p300's cofactor role in interferon regulatory factor 4 (IRF4) activity. • Preclinical data, to be presented at ACR Convergence 2024, demonstrates KB-7898's ability to reduce antibody production in B cells and cytokine production in T cells. • IND-enabling studies for KB-7898 are planned for Q4 2024, addressing the unmet need for treatments targeting the underlying cause of Sjögren's disease.