Keros Therapeutics Inc · Q3 2021 earnings

Briefing

Reported a net loss due to increased research and development efforts and additional infrastructure expenses.

Keros Therapeutics reported a net loss of $20.3 million for the third quarter of 2021, driven by increased research and development and infrastructure expenses. As of September 30, 2021, cash and cash equivalents totaled $221.3 million, expected to fund operations into the fourth quarter of 2023.

• Keros is approaching the conclusion of Part 1 of Phase 2 clinical trial of KER-050 in patients with myelodysplastic syndromes (MDS).
• Keros will present a clinical data update at the 63rd American Society of Hematology (ASH) Annual Meeting and Exposition held December 11 through 14.
• Keros entered into a lease for new headquarters in Lexington, MA, expected to move in Q4 2022.
• Keros commenced a Phase 1 clinical trial for KER-012 to evaluate single and multiple ascending doses in healthy volunteers.

Headline financials

Revenue & EPS history

Keros expects that the cash and cash equivalents it had on hand at September 30, 2021 will fund its operating expenses and capital expenditure requirements into the fourth quarter of 2023.