Published on 6 Nov 2023 on GuruFocus.com via Yahoo Finance

Frequency Therapeutics Inc (FREQ) Announces Merger and Private Placement of $117 Million

Frequency Therapeutics Inc (NASDAQ:FREQ) has completed its merger with Korro Bio, Inc.The company has also announced a private placement of $117 million.Post-merger, the combined company is expected to operate under the name Korro Bio, Inc.The company's cash, cash equivalents, and investments are expected to fund operations and multiple potentially value-creating milestones into 2026.

Warning! GuruFocus has detected 3 Warning Signs with FREQ.

On November 6, 2023, Frequency Therapeutics Inc (NASDAQ:FREQ) announced the completion of its previously announced business combination with Korro Bio, Inc. The combined company will operate under the name Korro Bio, Inc., and its shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "KRRO".