Keros Therapeutics Inc · Q2 2020 earnings

Briefing

Keros reported financial results for the second quarter of 2020 and provided a business update.

Keros Therapeutics reported a net loss of $10.8 million in the second quarter of 2020. With the net proceeds from the IPO and earlier Series C financing, Keros believes it is well capitalized to continue to aggressively drive the development of its lead programs through multiple Phase 2 clinical trials planned for the near term.

• Keros completed the transition to a public company after closing its initial public offering in the second quarter of 2020.
• Keros announced the completion of the planned cohorts for the Phase 1 clinical trial of KER-047 on August 4, 2020.
• Keros expects to expand its Phase 1 clinical trial to evaluate an additional two cohorts of healthy volunteers to further define dosing regimens.
• An abstract outlining preclinical data on the differentiated mechanism of action of KER-012 has been selected to be presented at the American Society for Bone and Mineral Research 2020 Annual Meeting Virtual Event.

Headline financials

Revenue & EPS history

Keros expects that the cash and cash equivalents it had on hand at June 30, 2020 will fund its operating expenses and capital expenditure requirements into the second half of 2022.