Core Viewpoint - Keros Therapeutics has decided to discontinue the development of cibotercept for pulmonary arterial hypertension (PAH) following safety concerns and will undergo corporate restructuring to align with strategic priorities [1][3][5]. TROPOS Trial Results - The TROPOS trial was a Phase 2 clinical trial evaluating cibotercept in combination with background therapy for PAH, which was halted due to observed adverse events, specifically pericardial effusions [2][7]. - The company voluntarily stopped dosing in all treatment arms of the trial after safety reviews indicated new adverse events [2]. Corporate Restructuring - Keros plans to reduce its workforce by approximately 45%, resulting in a total of 85 full-time employees, which is expected to yield annualized cost savings of about $17 million [5][6]. - The restructuring is aimed at aligning operations with ongoing development programs and maximizing stockholder value [6]. Future Development Strategy - The company will evaluate the potential development of cibotercept for other indications after completing a strategic alternative review process [4][6]. - Keros is also exploring various strategic alternatives, including potential sale or business combinations, continued investment in its pipeline, and returning excess capital to stockholders [6]. Company Overview - Keros Therapeutics focuses on developing therapeutics targeting disorders linked to dysfunctional signaling of the TGF-ß family of proteins, with lead candidates including KER-065 for neuromuscular diseases and elritercept for cytopenias [8].

Core Viewpoint - Keros Therapeutics emphasizes the importance of its board in overseeing the strategic review process and urges stockholders to support its director nominees to maximize company value amid challenges posed by ADAR1's campaign [1][2][3]. Company Overview - Keros Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel therapeutics targeting disorders linked to dysfunctional signaling of the TGF-ß protein family [10][11]. - The company is advancing several product candidates, including cibotercept for pulmonary arterial hypertension, KER-065 for neuromuscular diseases, and elritercept for cytopenias [10][11]. Board Composition and Strategy - The Keros Board consists of nine independent directors, including four stockholder representatives, bringing diverse expertise in biotechnology, drug development, and capital allocation [7]. - The board is currently engaged in a strategic alternatives review process, which is seen as a constructive step to address shareholder concerns and maximize value [3][8]. Proxy Advisory Firm Recommendations - Glass Lewis & Co. has recommended that Keros stockholders vote "FOR" all three of the company's director nominees, recognizing their qualifications and the board's efforts to enhance stockholder value [1][3]. - The board's decision to retain flexibility through a formal strategic review is viewed as a reasonable approach, contrasting with ADAR1's aggressive campaign [3][5]. Response to ADAR1's Campaign - Keros has responded to claims made by ADAR1, stating that the recent share price decline is primarily due to clinical development risks rather than board mismanagement [3][4]. - The company argues that ADAR1 has not provided compelling evidence against the board members and that the board's actions have been in the best interests of all stockholders [3][6].

LEXINGTON, Mass., May 12, 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 that Keros’ Chair and Chief Executive Officer Jasbir S. Seehra, Ph.D., will participate in a fireside chat presentation at the Ba ...

Core Viewpoint - Keros Therapeutics is responding to a misleading press release from ADAR1 Capital Management, emphasizing the importance of stockholder engagement and the ongoing strategic review process to maximize stockholder value [2][5][6] Company Strategy - The Board of Keros is committed to evaluating strategic alternatives, which may include a sale of the company, continued investment in its pipeline, or returning excess capital to stockholders [3][4] - A strategic committee, composed of independent directors, is leading the review process with the assistance of external financial and legal advisors [3][9] Financial Position - Keros has reinforced its strong cash position, enabling funding for clinical programs and operations into 2029 [4] - The exclusive license agreement with Takeda Pharmaceuticals includes a $200 million upfront payment and potential milestones of up to $1.1 billion, providing a recurring capital source [4] Board Composition - The Keros Board consists of nine directors, all independent except for the CEO, with diverse expertise in biotechnology [7] - The Board's Nominating and Corporate Governance Committee is actively seeking directors with complementary skill sets to enhance oversight of the company's strategy [7] Upcoming Meeting - Keros recommends stockholders vote "FOR" its three director nominees at the upcoming 2025 Annual Meeting scheduled for June 4, 2025 [8]

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].