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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2023 and 2022 was as follows (in thousands):

		Year Ended December 31,
		2023				2022
Research and development		$	759			$	243
General and administrative			1,622				897
Total stock-based compensation expense		$	2,381			$	1,140

Summary of Restricted Common Stock Activity

The following table summarizes Legacy Korro restricted common stock activity during the year ended December 31, 2023:

		Shares				Weighted- Average Grant Date Fair Value per Share
Unvested as of December 31, 2022			2,902			$	0.59
Granted			—			$	—
Vested			2,902			$	0.23
Repurchased			—			$	—
Unvested as of December 31, 2023			—			$	—

Summary of Stock Option Weighted-Average Assumptions

The fair value of stock options granted during the years ended December 31, 2023 and 2022 was calculated on the date of grant using the following weighted-average assumptions:

		Year Ended December 31,
		2023				2022
Risk-free interest rate			4.3	%			2.5	%
Expected dividend yield		—%				—%
Expected term (in years)			6.0				6.0
Expected volatility			72.8	%			72.9	%

Summary of Stock Option Activity

The following table summarizes changes in stock option activity during the year ended December 31, 2023 (in thousands, except per share amounts):

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Outstanding at December 31, 2022			461,100			$	14.95				8.0			$	2,953
Assumed in reverse recapitalization			93,153			$	121.91
Granted			835,839			$	17.33
Exercised			(39,395	)		$	16.41
Forfeited			(20,091	)		$	20.07
Cancelled			(7,455	)		$	18.85
Outstanding as of December 31, 2023			1,323,151			$	23.49				8.4			$	36,310
Exercisable at December 31, 2023			368,036			$	34.60				6.7			$	8,457

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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