Korsana Biosciences reported Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On November 5, 2026, Korsana Biosciences, Inc. (the "Company") issued a press release announcing the Company's financial results for the quarter ended September 30, 2026.¹ A copy of this press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 2.02 on Form 8-K (including Exhibit 99.1 attached hereto) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing by the Company, under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits.

Exhibit

No.

Description

99.1

Press Release Issued by Korsana Biosciences, Inc. on November 5, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Korsana Biosciences, Inc.

Date:

November 5, 2026

By:

/s/ Jonathan Violin

Name: Jonathan Violin, Ph.D.

Title: Chief Executive Officer and President

Korsana Biosciences Reports Third Quarter 2026 Financial Results and Provides Corporate Update

Completed merger with Cyclerion Therapeutics and concurrent $380 million private placement

WALTHAM, Mass., November 5, 2026— Korsana Biosciences, Inc. ("Korsana" or the "Company") (Nasdaq: KRSA), a biotechnology company discovering and developing novel therapies to reduce the burden of neurodegenerative diseases, today reported financial results for the third quarter ended September 30, 2026, and provided a corporate update.

"The third quarter was transformative for Korsana, providing us with the financial resources and experienced leadership team to execute our strategy," said Jonathan Violin, Ph.D., President and Chief Executive Officer of Korsana. "With this foundation in place, we remain focused on advancing KRSA-028 toward the clinic and building the body of evidence supporting the program, including through our first preclinical poster at CTAD later this month."

Recent Business Highlights

Corporate

• Completed the merger with Cyclerion Therapeutics and concurrent $380 million private placement in September 2026.

• Strengthened the executive leadership team and Board of Directors with the appointments of Matthew Leoni, M.D., as Chief Medical Officer, Gan Wei, Ph.D., as Chief Technical Officer, and Heidi Henson as a director and Chair of the Audit Committee.

KRSA-028: next-generation THETA™-enabled antibody targeting amyloid beta for the treatment of Alzheimer's disease

• Advanced KRSA-028 toward the clinic, with Phase 1 healthy volunteer data expected in mid-2027 and interim proof-of-concept data in patients with Alzheimer's disease anticipated by year-end 2027 or the first quarter of 2028.

• KRSA-028 preclinical data were accepted for presentation at the upcoming Clinical Trials on Alzheimer's Disease (CTAD) 2026 conference, including characterization of pharmacokinetic and hematologic parameters, binding affinity, and phagocytic activity. The poster will be available on Korsana's website at the time of presentation.

Third Quarter 2026 Financial Results

Cash Position: Cash and cash equivalents were approximately $456.2 million as of September 30, 2026.² The Company expects its cash and cash equivalents to be sufficient to fund operations into 2029.

Research and Development (R&D) Expenses: R&D expenses were $42.1 million for the third quarter of 2026, which includes $13.5 million of non-cash stock-based compensation.³

General and Administrative (G&A) Expenses: G&A expenses were $6.1 million for the third quarter of 2026, which includes $1.7 million of non-cash stock-based compensation.

Net Loss: Net loss totaled $46.4 million for the third quarter of 2026, which includes $15.2 million of non-cash stock-based compensation.

Shares Outstanding: Korsana has approximately 55.1 million shares of the Company's common stock and common stock equivalents outstanding, including shares of common stock underlying pre-funded warrants and Series B convertible preferred stock, and excluding shares underlying equity awards.

About Korsana Biosciences

Korsana Biosciences is committed to building best-in-class therapeutics with the goal of reducing the burden of neurodegenerative diseases for patients and caregivers. The Company's lead program, KRSA-028, is a next-generation shuttled antibody targeting amyloid beta for the treatment of Alzheimer's disease. KRSA-028 leverages Therapeutic Targeting (THETA™), a novel CNS shuttle technology developed in partnership with Paragon Therapeutics and designed to enable dramatically higher drug concentrations in the brain and overcome the limitations of earlier shuttle technologies. In addition, Korsana is advancing a pipeline of innovative therapies for neurodegenerative diseases. For more information, please visit www.korsana.com and follow the Company on LinkedIn .

Forward-Looking Statements

Certain statements in this press release, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements relating to Korsana's expectations, hopes, beliefs, intentions or strategies regarding the future of its pipeline and business including, without limitation, Korsana's ability to achieve the expected benefits or opportunities with respect to KRSA-028; the expected timelines of clinical data for KRSA-028;

expectations regarding the time period over which Korsana's capital resources will be sufficient to fund its anticipated operations; and the anticipated benefits of the additions to the Com