Keros Therapeutics Inc · Q4 2023 earnings

Briefing

Keros reported financial results for Q4 and full year 2023, highlighting clinical progress across the pipeline and advancement of KER-065 into Phase 1 trial.

Keros Therapeutics reported a net loss of $40.2 million for the fourth quarter of 2023, driven by increased research and development expenses and investments to support clinical and corporate goals. The company's cash and cash equivalents totaled $331.1 million as of December 31, 2023, which, along with proceeds from a January 2024 offering, is expected to fund operations into 2027.

• Keros made continued clinical progress across its pipeline in 2023.
• Phase 2 clinical trial evaluating KER-012 in patients with pulmonary arterial hypertension (PAH) was commenced.
• Exciting data was presented from two ongoing Phase 2 clinical trials of KER-050 in patients with myelodysplastic syndromes (MDS) and myelofibrosis.
• KER-065 advanced into a Phase 1 healthy volunteer clinical trial at the beginning of 2024.

Headline financials

Revenue & EPS history

Keros anticipates several program milestones, including engaging with regulators on the Phase 3 trial design for KER-050 in MDS, reporting additional data from KER-050 trials in MDS and myelofibrosis, providing an update on KER-012 enrollment in PAH patients, reporting initial data from the KER-012 biomarker trial in chronic heart failure patients, and reporting initial data from the KER-065 Phase 1 trial in healthy volunteers.