Keros Therapeutics Inc · Q3 2024 earnings

Briefing

Keros reported financial results for the third quarter of 2024 and provided a business update.

Keros Therapeutics reported a net loss of $53.0 million for the third quarter of 2024, driven by increased research and development expenses. The company's cash and cash equivalents as of September 30, 2024, were $530.7 million, which is expected to fund operations into the third quarter of 2027.

• Completed enrollment ahead of schedule in Phase 2 TROPOS trial of cibotercept (KER-012) in patients with pulmonary arterial hypertension.
• Yung H. Chyung, M.D., was appointed as Chief Medical Officer, effective November 1, 2024.
• Strengthened cash position through at-the-market offering.
• Cash and cash equivalents are expected to fund planned operating expenses and capital expenditure requirements into the third quarter of 2027.

Headline financials

Revenue & EPS history

Keros expects that its cash and cash equivalents as of September 30, 2024, together with the net proceeds from the ATM through October 31, 2024, will enable Keros to fund its operating expenses and capital expenditure requirements into the third quarter of 2027.