Keros Therapeutics(KROS) - 2024 Q4 - Annual Results

Financial Performance - Keros reported a net loss of $46.0 million for Q4 2024, compared to a net loss of$40.2 million in Q4 2023, and a total net loss of $187.4 million for the year, up from$153.0 million in 2023 [4]. - Revenue for Q4 2024 was $3.0 million, significantly increasing from$0.1 million in Q4 2023, with total revenue for the year at $3.6 million compared to$0.2 million in 2023 [5]. - General and administrative expenses for Q4 2024 were $10.7 million, up from$9.1 million in Q4 2023, reflecting increased personnel and operational costs [7]. - The total operating expenses for 2024 were $214.4 million, compared to$170.1 million in 2023, driven by increased R&D and administrative costs [15]. Research and Development - Research and development expenses rose to $45.6 million in Q4 2024 from$37.5 million in Q4 2023, totaling $173.6 million for the year, up from$135.3 million in 2023 [6]. - The company expects to report initial data from the Phase 1 clinical trial of KER-065 in Q1 2025, with plans to advance into a Phase 2 trial focusing on Duchenne muscular dystrophy [2]. - Keros anticipates data from the Phase 2 TROPOS trial for cibotercept (KER-012) in patients with pulmonary arterial hypertension, which will inform future development strategies [2]. Cash and Assets - Keros' cash and cash equivalents increased to $559.9 million as of December 31, 2024, compared to$331.1 million at the end of 2023, bolstered by a $200 million upfront payment from Takeda Pharmaceuticals [9]. - Keros' total assets as of December 31, 2024, were$615.9 million, a significant increase from $370.0 million at the end of 2023 [17]. - The company plans to fund its operating expenses and capital requirements into 2029 based on current cash positions and the recent Takeda agreement [3].