Core Viewpoint - ADAR1 Capital Management, the largest stockholder of Keros Therapeutics, expresses significant concerns regarding the company's capital allocation, strategic direction, and ongoing underperformance, leading to a decision to withhold votes for two directors at the upcoming Annual Meeting [1][4][11] Company Performance - Keros Therapeutics has shown alarming clinical results for its drug candidates KER-012 and KER-065, raising concerns about further investment in these programs and the potential risk to shareholder value [3][4] - The company has generated negative total stockholder returns across all relevant timeframes since its IPO, underperforming against proxy peers and market benchmarks [7][8] Financial Analysis - Keros' current market value does not reflect the estimated net present value of potential milestone payments from its partnership with Takeda, indicating that investors assign no value to the rest of Keros' pipeline [9] - The company holds over $720 million in cash as of March 31, 2025, which is viewed as excessive and unproductive given its current strategic direction [9][6] Recommendations - ADAR1 recommends restructuring the business, reducing headcount by at least 70%, returning excess cash to stockholders, and ensuring that stockholders benefit from the Takeda partnership through mechanisms like contingent value rights [14] - The firm believes that these initiatives could deliver between $24 and $35 per share in value for stockholders [9] Governance Concerns - ADAR1 has lost confidence in Keros' management and board, advocating for a board that will challenge management and act urgently to address the company's challenges [10][11] - The firm intends to vote for the inclusion of significant stockholders on the board to ensure alignment with long-term strategic decision-making [12]

分组1 - Keros Therapeutics reported quarterly earnings of $3.62 per share, significantly beating the Zacks Consensus Estimate of a loss of $0.01 per share, and showing an improvement from a loss of $1.21 per share a year ago, resulting in an earnings surprise of 36,300% [1] - The company posted revenues of $211.25 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 149.64%, compared to revenues of $0.08 million in the same quarter last year [2] - Keros Therapeutics shares have declined approximately 8.1% since the beginning of the year, while the S&P 500 has decreased by 3.9% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$1.02 on revenues of $8.28 million, and for the current fiscal year, it is -$3.46 on revenues of $100.68 million [7] - The Medical - Biomedical and Genetics industry, to which Keros Therapeutics belongs, is currently ranked in the top 31% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-Q ________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39264 _______________________________________ ...

Exhibit 99.1 About Keros Therapeutics, Inc. Keros is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including blood, bone, skeletal muscle, adipose and heart tissu ...

Core Viewpoint - Keros Therapeutics reported significant financial improvements in Q1 2025, driven by a license agreement with Takeda Pharmaceuticals, and is advancing its clinical pipeline with promising results from its Phase 1 trial of KER-065, while preparing for a Phase 2 trial of cibotercept in 2026 [2][3][4]. Financial Performance - Keros reported a net income of $148.5 million for Q1 2025, a substantial increase of $191.6 million compared to a net loss of $43.1 million in Q1 2024, primarily due to revenue from a license agreement [3][12]. - Total revenue for Q1 2025 was $211.2 million, significantly up from $83,000 in Q1 2024, with license revenue contributing $195.4 million [11]. - Research and development expenses rose to $48.7 million in Q1 2025 from $38.3 million in Q1 2024, reflecting increased efforts in advancing the clinical pipeline [4]. - General and administrative expenses slightly increased to $10.5 million in Q1 2025 from $10.3 million in Q1 2024 [5]. Cash Position - As of March 31, 2025, Keros had cash and cash equivalents of $720.5 million, up from $559.9 million at the end of 2024, providing a strong financial position to fund operations through 2029 [6]. Clinical Development - Initial topline results from the Phase 1 clinical trial of KER-065 met key objectives, positioning the company to engage with regulators for a Phase 2 trial in Q1 2026 [2]. - Keros expects to report data from the Phase 2 TROPOS trial evaluating cibotercept (KER-012) in patients with pulmonary arterial hypertension in Q2 2025 [2]. Company Overview - Keros Therapeutics focuses on developing novel therapeutics targeting disorders linked to dysfunctional signaling of the TGF-ß protein family, with product candidates including cibotercept for pulmonary arterial hypertension and KER-065 for neuromuscular diseases [7].

Keros Therapeutics’ (KROS) shares jumped 18.5% yesterday following an announcement that it is exploring strategic options, including a potential sale of the business. To aid the decision process, KROS will seek guidance from outside financial and legal advisors.As part of the strategic decision, Keros’ board of directors established a Strategic Committee, composed of independent and impartial directors, to oversee the process and provide a recommendation. The move could entail a potential business combinati ...

Keros Therapeutics, Inc.‘s KROS board of directors initiated a formal review process on Thursday to evaluate strategic alternatives, including a sale.“Consistent with our commitment to taking action to enhance stockholder value, Keros’ board determined to undertake a review of all strategic alternatives available to the Company,” said Jean-Jacques Bienaimé, Lead Independent Director. “During the pendency of the strategic review process, we remain focused on the execution of our strategy.”Keros intends to pr ...

Core Viewpoint - Keros Therapeutics, Inc. has initiated a formal review process to evaluate strategic alternatives aimed at maximizing stockholder value, including potential sale or business combination, continued investment in its pipeline, or returning excess capital to stockholders [1][2] Strategic Review Process - The Board of Directors has formed a Strategic Committee to oversee the review process, which will consider a comprehensive range of strategic alternatives [1] - There is no set deadline for the completion of the review process, and Keros plans to provide a preliminary update within 60 days of the announcement [2] Adoption of Stockholder Rights Plan - Keros has adopted a limited-duration stockholder rights plan to protect the integrity of the strategic review process, responding to significant stock accumulations by investors [3][4] - The rights plan aims to ensure fair participation in the review process and to prevent any entity from gaining control without paying an appropriate control premium [4] Rights Plan Details - The rights plan includes a dividend of one preferred share purchase right for each outstanding share of common stock, effective April 24, 2025, with rights becoming exercisable if ownership exceeds 10% [6] - Rights will allow holders to purchase additional shares at twice the market value if triggered, while existing stockholders at or above the threshold are grandfathered [6] - The rights will expire on April 9, 2026, unless redeemed or exchanged earlier by Keros [7] Company Overview - Keros Therapeutics is focused on developing novel therapeutics for disorders linked to dysfunctional signaling of the TGF-ß family of proteins, with product candidates targeting pulmonary arterial hypertension, neuromuscular diseases, and cytopenias [9]

LEXINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. ("Keros") (NASDAQ:KROS), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta ("TGF-ß") family of proteins, today announced initial topline results from the Phase 1 clinical trial of KER-065 in healthy volunteers. Topline results from this ongoing tria ...

Core Viewpoint - Keros Therapeutics, Inc. (KROS) has seen a 3.7% increase in share price over the past four weeks, closing at $11.44, with analysts suggesting a potential upside of 157% based on a mean price target of $29.40 [1][2] Price Targets and Analyst Estimates - The mean estimate consists of 10 short-term price targets with a standard deviation of $10.46, indicating variability among analysts; the lowest estimate suggests a 31.1% increase, while the highest predicts a 275.9% surge to $43 [2] - A low standard deviation in price targets indicates a high degree of agreement among analysts regarding the stock's price movement direction and magnitude [7] Earnings Estimates and Analyst Consensus - Analysts have shown increasing optimism about KROS's earnings prospects, with a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [9] - The Zacks Consensus Estimate for the current year has risen by 30.5% over the past month, with seven estimates increasing and no negative revisions [10] - KROS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [11] Caution on Price Targets - While price targets are often sought after by investors, they can mislead; empirical research shows that they rarely indicate actual stock price movements [5][6] - Investors should treat price targets with skepticism and not rely solely on them for investment decisions [8]