Earnings summaries and quarterly performance for Keros Therapeutics.
Executive leadership at Keros Therapeutics.
Board of directors at Keros Therapeutics.
Research analysts covering Keros Therapeutics.
Recent press releases and 8-K filings for KROS.
Keros Therapeutics Outlines 2026 Clinical Development Plans and Financial Position
KROS
New Projects/Investments
Guidance Update
Revenue Acceleration/Inflection
- Keros Therapeutics is advancing its lead candidate, Rinvatercept (KER-065), for neuromuscular diseases, with plans to start a Duchenne muscular dystrophy (DMD) trial in Q1 2026 and engage regulators for an ALS trial design in H2 2026.
- The company's partnered drug, elritercept, is being developed with Takeda for anemia in MDS and myelofibrosis. The partnership included an upfront payment of $200 million and Keros is eligible for over $1.1 billion in development and commercial milestones. Takeda is committed to starting frontline treatment for elritercept in fiscal year 2025 (ending March 31, 2026).
- Keros reported $383 million in cash as of its third-quarter earnings report, providing a financial runway into the first half of 2028.
3 days ago
Keros Therapeutics Provides Business and Financial Update
KROS
New Projects/Investments
Guidance Update
- Keros Therapeutics is a clinical-stage biopharmaceutical company focused on the TGF-β superfamily, with its lead candidate rinvatercept (KER-065) being developed for Duchenne muscular dystrophy (DMD) and ALS, and elritercept partnered with Takeda for anemia associated with myelodysplastic syndrome (MDS) and myelofibrosis (MF).
- The company reported $383 million in cash as of its third-quarter earnings report, providing a financial runway into the first half of 2028.
- Key upcoming catalysts include the planned start of the DMD trial this quarter and engagement with regulators for an ALS trial in the second half of 2026.
- The global license agreement with Takeda for elritercept included an upfront payment of $200 million and potential development and commercial milestones exceeding $1.1 billion. Takeda is currently running the elritercept Phase III RENEW trial and is committed to starting frontline treatment in its fiscal year 2025, which ends March 31st, 2026.
3 days ago
Kainova Therapeutics Secures Series B Financing
KROS
New Projects/Investments
- Kainova Therapeutics announced the successful first close of its Series B financing round, totaling $32 million CAD.
- The financing round was led by Investissement Québec and received continued support from existing investors.
- The funds will be used to accelerate the clinical development of breakthrough GPCR-targeting treatments, including the lead asset DT-7012 for solid tumors.
- Investissement Québec's participation also supports the relocation of the Company's headquarters to Québec.
Feb 10, 2026, 8:00 AM
Keros Therapeutics Updates Corporate Presentation, Details Elritercept Licensing Deal and Rinvatercept Clinical Plans
KROS
New Projects/Investments
- Keros Therapeutics updated its corporate presentation on January 9, 2026.
- The company entered an exclusive license agreement with Takeda Pharmaceuticals for Elritercept (KER-050) on December 3, 2024, receiving an upfront payment of $200 million and eligible for over $1.1 billion in development, approval, commercial, and sales milestone payments, plus tiered royalties. Takeda assumed responsibility for Elritercept's development in January 2025, and a Phase 3 RENEW clinical trial for Myelodysplastic Syndromes (MDS) is ongoing.
- Keros plans to initiate a Phase 2 clinical trial for Rinvatercept (KER-065) in Duchenne Muscular Dystrophy (DMD) in the first quarter of 2026 and for Amyotrophic Lateral Sclerosis (ALS) in the second half of 2026.
Jan 9, 2026, 9:16 PM
Keros Therapeutics Reports Third Quarter 2025 Financial Results
KROS
Earnings
Guidance Update
New Projects/Investments
- Keros Therapeutics reported a net loss of $7.3 million in the third quarter of 2025, a significant decrease from a net loss of $53.0 million in the third quarter of 2024, largely due to revenue recognized related to its license agreement with Takeda Pharmaceuticals U.S.A., Inc..
- Research and development expenses decreased to $19.5 million for the third quarter of 2025 from $49.2 million for the same period in 2024, primarily due to the transition of elritercept-related research and development expenses to Takeda.
- The company's cash and cash equivalents were $693.5 million as of September 30, 2025, and Keros expects this, less $375.0 million of excess capital to be returned to stockholders, to fund operating expenses and capital expenditure requirements into the first half of 2028.
- Keros' partner Takeda plans to advance elritercept into a Phase 3 clinical trial, and Keros plans to initiate a Phase 2 clinical trial of KER-065 in patients with Duchenne muscular dystrophy.
Nov 5, 2025, 9:02 PM
Keros Therapeutics Commences Cash Tender Offer
KROS
Share Buyback
- Keros Therapeutics has initiated a cash tender offer to repurchase up to $194.4 million of its common stock at a price of $17.75 per share.
- This tender offer is part of the company's previously announced $375 million capital return program.
- The offer is scheduled to expire at 5:00 p.m. ET on November 18, 2025, unless extended or terminated.
Oct 20, 2025, 10:00 AM
Keros Therapeutics Announces $375 Million Capital Return Program and Board Resignations
KROS
Share Buyback
Board Change
Dividends
- Keros Therapeutics, Inc. announced a plan to return $375.0 million of excess capital to stockholders, which includes repurchasing 10,176,595 shares from ADAR1 Capital Management and Pontifax Venture Capital for approximately $181 million at a price of $17.75 per share. These initial repurchases are expected to close on or about October 15, 2025.
- Following these transactions, Keros intends to commence a tender offer for up to $194 million in additional shares at $17.75 per share by the end of October 2025.
- In connection with the repurchase agreements, Tomer Kariv and Ran Nussbaum resigned from the Board of Directors, effective October 15, 2025.
- The company also committed to distribute 25% of any net cash proceeds received on or before December 31, 2028, from its global license agreement with Takeda Pharmaceuticals U.S.A., Inc. to Keros stockholders.
Oct 15, 2025, 10:40 AM
Keros Therapeutics' Largest Stockholder Criticizes Board's Engagement and Capital Return Plan
KROS
Proxy Vote Outcomes
Dividends
Board Change
- ADAR1 Capital Management, the largest stockholder of Keros Therapeutics with approximately 13.3% of outstanding shares, sent an open letter on August 21, 2025, expressing disappointment with the Board's refusal to engage on the Company's strategy, capital allocation priorities, and Board refreshment.
- ADAR1 believes Keros is significantly undervalued and urges the company to promptly communicate a clear plan to return $375 million in excess capital, specifically through the declaration of a special dividend, following a June 9 announcement.
- ADAR1 has stated that if the Board continues to refuse engagement, it will seek to elect new directors at the next Annual Meeting.
Aug 21, 2025, 12:30 PM
Keros Therapeutics Announces First Patient Dosing in Phase 3 RENEW Clinical Trial
KROS
New Projects/Investments
- Keros Therapeutics, Inc. announced that the first patient was dosed in the Phase 3 RENEW clinical trial of elritercept for adults with transfusion-dependent anemia with very low, low, or intermediate risk myelodysplastic syndromes (MDS).
- The dosing of the first patient triggered a $10 million milestone payment to Keros under its global license agreement with Takeda.
- This agreement, which became effective on January 16, 2025, previously provided Keros with a $200 million upfront cash payment in February 2025, and Keros remains eligible for potential development, commercial, and sales milestones that could exceed $1.1 billion, along with tiered royalties on net sales.
Jul 17, 2025, 12:00 AM
Keros Therapeutics Announces TROPOS Data and Corporate Restructuring
KROS
Layoffs
- Announced TROPOS Phase 2 topline data for cibotercept in PAH, resulting in the decision to discontinue its development due to safety concerns including pericardial effusions.
- Initiated a corporate restructuring with an approximate 45% workforce reduction (reducing headcount to 85 employees) and targeted average annualized cost savings of $17 million.
May 29, 2025, 12:00 AM
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