(RTTNews) - Kronos Bio, Inc. (KRON) announced on Wednesday that it has appointed CFO and COO Deborah Knobelman as president and interim chief executive officer, with effect from December 3.
In addition, Kronos has announced a workforce reduction of around 83 percent by year-end to cut costs.
Deborah will succeed Norbert Bischofberger, who will remain on the Board and continue to serve as an advisor.
The drug maker noted that it is also exploring options, including possible business combinations or divestiture of its remaining internally developed preclinical assets to boost stockholder value.
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