Keros Therapeutics Reports Recent Business Highlights and Fourth Quarter and Full Year 2024 Financial Results

Core Viewpoint - Keros Therapeutics, Inc. is advancing its clinical pipeline with promising data expected from ongoing trials, while also strengthening its financial position through a significant licensing agreement with Takeda Pharmaceuticals [1][2][3]. Financial Performance - Keros reported a net loss of $46.0 million for Q4 2024 and $187.4 million for the full year, compared to a net loss of $40.2 million and $153.0 million for the same periods in 2023, primarily due to increased R&D expenses [4]. - Total revenue for Q4 2024 was $3.0 million, up from $0.1 million in Q4 2023, and for the full year, revenue was $3.6 million compared to $0.2 million in 2023, largely driven by a milestone under a license agreement with Hansoh [5][13]. - Research and development expenses rose to $45.6 million for Q4 2024 and $173.6 million for the full year, compared to $37.5 million and $135.3 million in 2023, reflecting ongoing clinical trials and increased operational costs [6]. - General and administrative expenses increased to $10.7 million for Q4 2024 and $40.8 million for the full year, up from $9.1 million and $34.8 million in 2023, due to organizational growth and higher operational costs [7]. Cash Position - As of December 31, 2024, Keros had cash and cash equivalents of $559.9 million, an increase from $331.1 million in 2023, bolstered by a $200 million upfront payment from the Takeda Agreement, which is expected to fund operations into 2029 [8][3]. Clinical Development - Keros is focused on advancing its pipeline, with initial data from the Phase 1 trial of KER-065 expected in Q1 2025, targeting neuromuscular diseases, particularly Duchenne muscular dystrophy [2]. - The company anticipates reporting data from the Phase 2 TROPOS trial for cibotercept (KER-012) in patients with pulmonary arterial hypertension, with plans to evaluate its development strategy post-data readout [2]. Company Overview - Keros Therapeutics specializes in developing therapeutics targeting disorders linked to dysfunctional TGF-ß signaling, with a focus on conditions such as pulmonary arterial hypertension and neuromuscular diseases [9].