Keros Therapeutics(US:KROS)2024-11-06 21:02Financial Performance - Keros reported a net loss of $53.0 million in Q3 2024, compared to a net loss of $39.4 million in Q3 2023, representing an increase of 34.3%[3] - Total revenue for Q3 2024 was $0.388 million, significantly higher than $0.008 million in Q3 2023, marking a 4,850% increase[10] - General and administrative expenses rose to $9.8 million in Q3 2024 from $9.1 million in Q3 2023, an increase of 7.7%[5] - Research and development expenses increased to $49.2 million in Q3 2024 from $34.1 million in Q3 2023, a rise of 44.3%[4] Cash Position - Cash and cash equivalents as of September 30, 2024, were $530.7 million, up from $331.1 million as of December 31, 2023, reflecting a 60.3% increase[6] - The company expects its cash position will fund operations into Q3 2027, supported by net proceeds from its at-the-market offering[2] Asset Growth - The total assets of Keros as of September 30, 2024, were $579.3 million, compared to $370.0 million as of December 31, 2023, an increase of 56.5%[11] Clinical Development - Keros completed enrollment ahead of schedule in its Phase 2 TROPOS trial of cibotercept (KER-012) for pulmonary arterial hypertension[2] Leadership Changes - Keros appointed Yung H. Chyung, M.D., as Chief Medical Officer effective November 1, 2024, indicating a strengthening of its executive leadership[2] Shareholder Information - The weighted-average common stock outstanding increased to 37,590,727 in Q3 2024 from 29,668,247 in Q3 2023, a growth of 26.7%[10]