Press release
Keros Therapeutics Reports Second Quarter 2024 Financial Results
LEXINGTON, Mass., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (Nasdaq: KROS), a clinical-stage biopharmaceutical
About this update from Keros Therapeutics, Inc.
[{"type":"text","content":"LEXINGTON, Mass., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (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 reported financial results for the quarter ended June 30, 2024. “Keros continued to build upon the progress of all programs across our pipeline in the second quarter of 2024, as evidenced by our recent positive regulatory and data updates from the elritercept (KER-050) program,” said Jasbir S. Seehra, Ph.D., Chair and Chief Executive Officer. “We continue to be excited by the strong enrollment activity we have seen to date in our Phase 2 clinical trial of cibotercept (KER-012) in patients with pulmonary arterial hypertension and look forward to completing enrollment of that trial in the fourth quarter of this year.” Second Quarter 2024 Financial Results Keros reported a net loss of $45.3 million in the second quarter of 2024 as compared to a net loss of $37.5 million in the second quarter of 2023. The increase of $7.8 million for the second quarter was largely due to increased research and development efforts as well as additional investments to support the achievement of Keros’ clinical and corporate goals. Research and development expenses were $40.5 million for the second quarter of 2024 as compared to $32.5 million for the same period in 2023. The increase of $8.0 million was primarily due to additional research and development efforts, manufacturing activities and personnel expenses to support the advancement of Keros’ pipeline. General and administrative expenses were $10.0 million for the second quarter of 2024 as compared to $8.8 million for the same period in 2023. The increase of $1.2 million was primarily due to increase in personnel expenses and other external expenses to support Keros’ organizational growth. Keros’ cash and cash equivalents as of June 30, 2024 was $405.9 million compared to $331.1 million as of December 31, 2023. Keros expects that the cash and cash equivalents it had on hand at June 30, 2024 will enable Keros to fund its operating expenses and capital expenditure requirements into 2027. About Keros Therapeutics, In...