Keros Therapeutics Inc · Q4 2020 earnings

Briefing

Keros Therapeutics experienced increased research and development efforts and supported operations as a publicly traded company.

Keros Therapeutics reported a net loss of $10.7 million for the fourth quarter and $45.4 million for the year ended December 31, 2020. The increase in net loss for the fourth quarter and the year was largely due to increased research and development efforts as well as the infrastructure to support operations as a publicly traded company. Keros’ cash and cash equivalents as of December 31, 2020 was $265.9 million.

• Completed public offering of 2,990,000 shares of common stock at $50.00 per share, resulting in gross proceeds of $149.5 million.
• Appointed Mary Ann Gray, Ph.D., to its board of directors.
• Initiated dosing of the first two cohorts of Part 1 of its Phase 2 clinical trial evaluating KER-050 in patients with myelodysplastic syndromes.
• Presented preclinical data at the virtual European School of Haematology demonstrating that a research form of KER-050 induced red blood cell production.

Headline financials

Revenue & EPS history

Keros expects that the cash and cash equivalents it had on hand at December 31, 2020 will fund its operating expenses and capital expenditure requirements into the fourth quarter of 2023.