Keros Therapeutics Announces Plan for Return of $375 Million in Excess Capital

Core Points - Keros Therapeutics has entered into agreements to repurchase all shares held by ADAR1 Capital Management and Pontifax Venture Capital for approximately $181 million at a price of $17.75 per share, as part of a $375 million capital return program [1][4] - The company plans to commence a tender offer to repurchase up to $194 million of additional shares at the same price of $17.75 per share, expected to start by the end of October 2025 [3][4] - Keros intends to distribute 25% of any net cash proceeds from its global license agreement with Takeda Pharmaceuticals to stockholders by December 31, 2028 [2] Financial Details - The total purchase price for the repurchase of shares from ADAR1 and Pontifax is approximately $181 million, funded from existing cash and cash equivalents [1] - The planned tender offer will also be funded from the company's existing cash and cash equivalents [3] Management and Strategic Outlook - The capital return program reflects Keros' confidence in its outlook and the prospects for its key clinical program, KER-065, which is targeted for a Phase 2 clinical trial in patients with Duchenne muscular dystrophy in Q1 2026 [4] - The negotiation and approval of the repurchase transactions were overseen by a Capital Return Committee composed entirely of independent directors, ensuring a focus on enhancing long-term stockholder value [4]