Kronos rises after disclosing plan to lay off 83% of employees

Kronos Bio

27/11/2024 13:01

** Cancer therapy developer Kronos Bio's  KRON.O  shares
rise 4% to 90 cents premarket 
    ** KRON to lay off about 83% of its employees by year-end
    ** CEO Norbert Bischofberger has stepped down after nearly
six years in the role - KRON
    ** KRON appoints chief financial officer Deborah Knobelman
as interim CEO
    ** As of March 11, KRON had 62 full-time employees and one
part-time employee - SEC filing
    ** KRON had announced ~21% reduction in its workforce
earlier this year
    ** As of last close, stock has fallen ~31% YTD 

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))