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Mar 31
Keros Q1 2025 Earnings Report
Keros Therapeutics reported its financial results for the first quarter ended March 31, 2025, showing a significant increase in net income primarily due to license revenue.
Key Takeaways
Keros Therapeutics reported a net income of $148.5 million for the first quarter of 2025, a substantial increase from a net loss of $43.1 million in the same period last year. This growth was largely driven by revenue recognized from a license agreement with Takeda Pharmaceuticals U.S.A., Inc. The company also reported an increase in research and development expenses as it continues to advance its pipeline.
Net income for Q1 2025 was $148.5 million, a significant improvement from a net loss of $43.1 million in Q1 2024.
Total revenue for Q1 2025 was $211.2 million, primarily due to $195.4 million in license revenue.
Research and development expenses increased to $48.7 million in Q1 2025 from $38.3 million in Q1 2024, reflecting pipeline advancement.
Cash and cash equivalents stood at $720.5 million as of March 31, 2025, with an expected runway into 2029.
Keros
Keros
Keros Revenue by Segment
Revenue by Segment
Service and other Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
Keros Therapeutics expects to advance KER-065 to a Phase 2 clinical trial in Q1 2026 and report data from the Phase 2 TROPOS trial for cibotercept in Q2 2025. The company's cash and cash equivalents are projected to fund operations into 2029.
Positive Outlook
- Aiming to advance KER-065 to a Phase 2 clinical trial in the first quarter of 2026.
- Expects to report data from the Phase 2 TROPOS trial evaluating cibotercept in patients with pulmonary arterial hypertension in the second quarter of 2025.
- Plans to evaluate the appropriate development strategy for cibotercept following data readout.
- Current cash and cash equivalents are expected to fund operating expenses and capital expenditure requirements into 2029.
- The Board of Directors continues its review process to evaluate strategic alternatives to enhance stockholder value.
Challenges Ahead
- The strategic alternative review process may not achieve its objectives.
- There is a risk that any strategic transaction may not be consummated or could be delayed.
- The strategic alternatives review could adversely affect the Company's ability to retain key personnel and maintain relationships.
- The review process could divert management's attention and time.
- There is a risk of unexpected costs or litigation related to the review.