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KRONOS BIO Kronos Bio Reports Recent Business Progress and First Quarter Financial Results and Announces Virtual R & D Day May 11 , 2021 Virtual R & D Day on May 25 to unveil SYK portfolio development strategy and highlight momentum of CDK9 inhibitor program and differentiated drug discovery platform Preclinical data for KB - 0742 presented at the American Association for Cancer Research ( AACR ) Annual Meeting demonstrated sustained inhibition of tumor growth in multiple cancers $ 440.6 million in cash , cash equivalents and investments as of March 31 , 2021 SAN MATEO , Calif . and CAMBRIDGE , Mass . , May 11 , 2021 ( GLOBE NEWSWIRE ) -- Kronos Bio , Inc. ( Nasdaq : KRON ) , a company dedicated to transforming the lives of those affected by cancer , today reported recent business progress and first quarter financial results . " With continued progress in our preclinical and clinical programs and significant milestones expected this year , we look forward to hosting a research and development day to present our pipeline and unveil our development strategy for both of our clinical - stage SYK inhibitors entospletinib and lanraplenib , " said Norbert Bischofberger , Ph.D. , president and CEO . " We recently showcased progress with our CDK9 program at the AACR annual meeting in April , where we presented preclinical data indicating that KB - 0742 could have utility in the treatment of MYC - amplified cancers . We look forward to sharing more about our development plans for this compound at our research and development day . " Dr. Bischofberger added : " I would also like to take this opportunity to reflect on the recent passing of our Board Member , Dr. John C. Martin , a dear friend and mentor , and to convey our deepest sympathies to John's family and everyone who was fortunate enough to have known him . " Recent Highlights • Presented preclinical data for KB - 0742 , the company's potent oral , highly selective cyclin dependent kinase 9 ( CDK9 ) inhibitor , at the American Association for Cancer Research ( AACR ) Annual Meeting . The data showed that CDK9 inhibition on an intermittent dosing schedule with KB - 0742 resulted in sustained inhibition of tumor growth in multiple types of solid tumors , and suggested that genomic amplification of MYC , a well - characterized transcription factor and a long - recognized driver of cancer , is a key feature in defining sensitivity to CDK9 inhibition . • Announced the appointment of Taiyin Yang , Ph.D. , to its board of directors . Dr. Yang currently serves as the executive vice president of Pharmaceutical Development and Manufacturing at Gilead Sciences , Inc. , and has more than four decades of experience developing and manufacturing medicines in a variety of therapeutic categories . • Announced a positive End - of - Phase 2 meeting with the U.S. Food and Drug Administration ( FDA ) for spleen tyrosine kinase ( SYK ) inhibitor entospletinib . Kronos Bio will proceed with its plan to assess measurable residual disease ( MRD ) negative complete response ( CR ) as the primary endpoint in a registrational Phase 3 trial to support potential accelerated approval of entospletinib in patients newly diagnosed with NPM1 - mutated acute myeloid leukemia ( AML ) . The company plans to initiate the Phase 3 trial in mid - 2021 , with MRD negative CR data expected in the second half of 2023 . • Announced the first patient was dosed in the Phase 1/2 clinical trial of KB - 0742 , which is being developed to treat MYC - amplified solid tumors . Pipeline updates planned at upcoming Virtual R & D Day on May 25 , 2021 • Unveil the development strategy for the company's SYK inhibitors entospletinib and lanraplenib in AML . Kronos Bio executives will be joined by Eytan M. Stein , M.D. , assistant attending physician and director , Program for Drug Development in Leukemia , Leukemia Service , Department of Medicine at Memorial Sloan Kettering Cancer Center , who will provide an overview of AML and the current treatment landscape . • Highlight the opportunity to target MYC through CDK9 inhibition with KB - 0742 , including a review of preclinical data , expectations for initial safety , pharmacokinetic and pharmacodynamic data anticipated in the fourth quarter of 2021 and potential populations for the expansion cohorts in the second stage of the company's Phase 1/2 clinical trial . • Provide an overview of the company's differentiated drug discovery platform and potential future pipeline programs . The live webinar will begin at 1 p.m. ET on Tuesday , May 25 , 2021 , and will conclude at approximately 4:00 p.m. ET . Registration is accessible on the Investors & Media section of the company's website at www.kronosbio.com . A replay of the webcast will be archived and available following the event .