Keros Therapeutics Inc · Q3 2023 earnings

Briefing

Reported business highlights and financial results for the third quarter of 2023.

Keros Therapeutics reported a net loss of $39.4 million for the third quarter of 2023. Research and development expenses increased to $34.1 million, and general and administrative expenses were $9.1 million. Cash and cash equivalents totaled $287.9 million as of September 30, 2023, expected to fund operations into the fourth quarter of 2025.

• Advanced Phase 2 clinical trials for KER-050 in MDS and myelofibrosis, with additional data to be presented at ASH Annual Meeting.
• Initiated dosing for Part 2 of the KER-050 Phase 2 clinical trial in myelofibrosis at a starting dose of 3.75 mg/kg.
• Continued progress in the TROPOS Phase 2 clinical trial evaluating KER-012 in patients with pulmonary arterial hypertension.
• Deprioritized the KER-047 program and is early terminating the Phase 2 clinical trial in MDS and myelofibrosis patients with functional iron deficiency.

Headline financials

Revenue & EPS history

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