Korro Bio reported that its RNA‑editing candidate for alpha‑1 antitrypsin deficiency fell short of projected functional protein levels after a single dose. The company is cutting roughly one‑third of staff, abandoning the lead program and pivoting toward GalNAc delivery for future candidates to extend its cash runway into 2027. Korro’s stock plunged on the data; management said the interim results produced functional protein but not at targeted levels, prompting a strategic refocus. The firm announced workforce reductions and a shift in development priorities while continuing to nominate new candidates for other indications. The episode highlights the execution risks inherent in early clinical RNA‑editing programs and the capital implications for small biotech developers.