Keros Therapeutics, Inc. · NASDAQ:KROS
Keros Therapeutics — Investor Presentation (March 2026)
24 slides from Keros Therapeutics's investor presentation, Mar 4, 2026
Slide 1: March 2026 Corporate Presentation
March 2026 Corporate Presentation
Slide 2: Forward-looking statements
Corporate Presentation Statements contained in this presentation regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipates," "believes," "expects," "intends," “pl
Slide 3: Focused on Transforming the Lives of Patients with Disorders Linked to Dysfunctional TGF-β Signaling
Duchenne Muscular Dystrophy (DMD) P R E C L I N I C A L Corporate Presentation Focused on Transforming the Lives of a Wide Range of Patients with Disorders Linked to Dysfunctional TGF-β Superfamily Signaling We believe our product candidates have the potential to unlock the full therapeutic benefits
Slide 4: Rinvatercept (KER-065)
Corporate Presentation Rinvatercept (KER-065) 4
Slide 5: Rinvatercept (KER-065)
Corporate Presentation 5 Rinvatercept (KER-065) Rinvatercept is an investigational modified activin receptor type II ligand trap Rinvatercept is designed to bind and inhibit TGF-ß ligands, including activin A and myostatin, which are negative regulators of muscle and bone mass and strength, to:
Slide 6: Rinvatercept: Potential to Treat a Broad Range of Neuromuscular Diseases
Corporate Presentation 6 Rinvatercept: Potential to Treat a Broad Range of Neuromuscular Diseases Created with BioRender Based on observed pharmacology in preclinical studies and the Phase 1 clinical trial, we believe rinvatercept has potential in multiple, rare neuromuscular diseases with high unme
Slide 7: Rinvatercept: Duchenne Muscular Dystrophy (DMD)
Corporate Presentation Rinvatercept: Duchenne Muscular Dystrophy (DMD) 7
Slide 8: DMD disease overview
1. Tabebordbar, M., et al. (2013). Annu. Rev. Pathol. 8, 441–475. doi: 10.1146/annurev-pathol-011811-132450; 2.Wallace, G. Q., and McNally, E. M. (2009). Annu. Rev. Physiol. 71, 37–57. doi:10.1146/annurev.physiol.010908.1632164.4; 3. Mann, C. J.,et al. (2011). Skelet. Muscle 1:21. doi: 10.1186/2044-
Slide 9: Current Treatment Landscape for DMD
HDAC Inhibitors • Modulate the deregulated activity of HDACs in dystrophic muscle • DuvyzatTM (givinostat) was approved by the FDA in patients aged 6+ • DuvyzatTM can cause dose-related thrombocytopenia and other signs of myelosuppression, including anemia and neutropenia Corporate Presentation 9 Cu
Slide 10: Robust Preclinical Data Suggests Potential Benefits of Rinvatercept
Corporate Presentation 10 Robust Preclinical Data Suggests Potential Benefits of Rinvatercept Activin inhibition (but not myostatin inhibition) offers therapeutic potential Offer muscle, bone and fat benefits: Potential to increase muscle mass, decrease fat mass and improve BMD, based on preclinic
Slide 11: Rinvatercept Was Generally Well Tolerated in Phase 1 Healthy Volunteer Trial
Corporate Presentation 11 Treatment with Rinvatercept Was Generally Well Tolerated in Phase 1 Healthy Volunteer Trial Most TEAEs were mild (Grade 1) to moderate (Grade 2) ▸ One unrelated Grade 4 TEAE (transient CK elevation)* was observed No dose-limiting toxicities or serious adverse events wer
Slide 12: Phase 1 Healthy Volunteer Data Support Potential to Address Multiple Aspects of DMD
Corporate Presentation 12 Phase 1 Healthy Volunteer Data Support Potential for Rinvatercept to Address Multiple Aspects of DMD Muscle Bone Fat In DMD, the replacement of muscle fibers with fatty and fibrotic tissue leads to progressive loss of muscle strength and function, leading to immobility and
Slide 13: Rinvatercept: Phase 2 Clinical Trial Design
Endpoints • Primary • Safety and Tolerability • Key Secondary • Pharmacokinetics • Anti-drug antibodies • Body composition • Comprehensive functional improvements (skeletal muscle, motor, cardiac and pulmonary) • Exploratory • Serum Biomarkers Rinvatercept: Phase 2 Clinical Trial Design PK = pharmac
Slide 14: Rinvatercept: Amyotrophic Lateral Sclerosis (ALS)
Corporate Presentation Rinvatercept: Amyotrophic Lateral Sclerosis (ALS) 14
Slide 15: Rinvatercept and ALS: A Novel Approach
1. Brown, R.H. et al, NEJM 2017, 162-172; 2. Mehta P. et al, Amyotrophic Lateral Scler. Frontotemporal Degener. 2025, 290-295 ALS is a progressive, neurodegenerative disease that destroys motor neurons, leading to muscle weakness, loss of function and eventually paralysis1 In the U.S. alone, ALS
Slide 16: Third-Party Product Candidate (Apitegromab) Data Demonstrated Muscle Preservation Can Provide Benefit
Corporate Presentation 16 Third-Party Product Candidate (Apitegromab) Phase 3 Data Demonstrated That Muscle Preservation Can Provide Benefit 1. Crawford, T. et al; Lancet Neurology 2025, v.24, 9, 727-739 HFMSE = Hammersmith Functional Motor Scale Expanded Motor neuron loss is a hallmark of both spin
Slide 17: Potential Benefits of Rinvatercept Treatment for Individuals with ALS
Potential Benefits of Rinvatercept Treatment for Individuals with ALS Corporate Presentation 17 • Skeletal muscle is potentially an active participant in ALS pathology, instead of a passive victim of motor neuron degeneration1 • By promoting muscle growth and function, rinvatercept has the potential
Slide 18: RKER-065 Preserved Muscle Strength and Neuromuscular Transmission in Mouse Model of ALS
RKER-065 Treatment Preserved Muscle Strength and Neuromuscular Transmission in a Mouse Model of ALS Six-week-old male SOD1-G93A (SOD1) mice (mouse model of ALS) were intraperitoneally injected with vehicle or RKER-065 (10 mg/kg, BIW) for 8 weeks. Vehicle-treated wild-type mice served as a control gr
Slide 19: RKER-065 Protected the Neuromuscular Junction in a Mouse Model of ALS
In healthy neuromuscular junctions (NMJs), there is a normal complement of neurofilaments at the axon terminal RKER-065 Treatment Protected the Neuromuscular Junction in a Mouse Model of ALS SOD1-G93 Mouse Model of ALS Corporate Presentation 19 NF-H: (neurofilament protein-heavy) marker of axon inte
Slide 20: Elritercept (KER-050)
Corporate Presentation 20 Elritercept (KER-050) Investigational Treatment for Anemia and Thrombocytopenia in Patients with Myelodysplastic Syndromes and in Patients with Myelofibrosis
Slide 21: Global License Agreement with Takeda Pharmaceuticals
Corporate Presentation Global License Agreement with Takeda Pharmaceuticals On December 3, 2024, Keros announced it had entered into an exclusive license agreement with Takeda to develop, manufacture and commercialize elritercept globally, other than mainland China, Hong Kong, and Macau Financials:
Slide 22: RENEW Trial: Ongoing Phase 3 Clinical Trial in MDS
Corporate Presentation RENEW Trial: Ongoing Phase 3 Clinical Trial to Evaluate Elritercept in Patients with MDS Screening Assessments Screening Period Double-Blind Treatment Period (48 weeks + Extension Phase) Safety Follow-Up Period (8 weeks) Extension Phase (Variable – after Secondary Phase until
Slide 23: Proprietary Discovery Approach
Corporate Presentation Proprietary Discovery Approach 23
Slide 24: Proprietary Discovery Approach
Proprietary Discovery Approach • Keros has a broad approach to target the TGF-β superfamily to develop product candidates with the potential to treat a broad range of indications, including neuromuscular and neurodegenerative disorders, rare bone and fibrosis diseases and obesity/frailty • Large lib
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