Keros Therapeutics Inc · Q2 2023 earnings

Briefing

Reported financial results for the second quarter of 2023 and provided a business update.

Keros Therapeutics reported a net loss of $37.5 million in the second quarter of 2023, compared to a net loss of $27.3 million in the second quarter of 2022. The increase was primarily due to increased research and development efforts and additional investments to support the company's clinical and corporate goals. Keros' cash and cash equivalents as of June 30, 2023, were $322.0 million, and the company expects this to fund operations into the fourth quarter of 2025.

• Initiated dosing for Cohort 4 of the Phase 2 clinical trial of KER-050 in patients with myelofibrosis-associated cytopenias at 4.5 mg/kg.
• Initiated an open-label Phase 2 clinical trial of KER-047 in myelodysplastic syndromes (MDS) and myelofibrosis patients with functional iron deficiency.
• The U.S. Food and Drug Administration cleared the investigational new drug application to conduct a Phase 2 clinical trial (TROPOS) of KER-012 in patients with PAH.
• Plans to commence a Phase 1 clinical trial to evaluate the safety and tolerability of KER-065 in healthy volunteers in the first quarter of 2024.

Headline financials

Revenue & EPS history

Keros expects that the cash and cash equivalents it had on hand at June 30, 2023 will enable Keros to fund its operating expenses and capital expenditure requirements into the fourth quarter of 2025.