Keros Therapeutics Inc · Q1 2020 earnings

Briefing

Keros reported financial results for the first quarter of 2020.

Keros Therapeutics reported a net loss of $11.9 million in the first quarter of 2020, driven by increased research and development expenses and investments related to becoming a publicly traded company. The company's cash and cash equivalents were $54.5 million as of March 31, 2020, which doesn't include the $99.8 million net proceeds from their April 2020 IPO.

• Completed Series C financing in March 2020 for gross proceeds of $56.0 million.
• Completed initial public offering in April 2020 for gross proceeds of $110.4 million.
• Phase 1 clinical trial of KER-050 in healthy post-menopausal women completed in January 2020.
• Keros expects that its cash and cash equivalents will fund operating expenses and capital expenditure requirements into the second half of 2022.

Headline financials

Revenue & EPS history

Keros expects that the cash and cash equivalents it had on hand at March 31, 2020, together with the net proceeds from its initial public offering, will fund its operating expenses and capital expenditure requirements into the second half of 2022.