Keros Q4 2021 Earnings Report
Key Takeaways
Keros Therapeutics reported a net loss of $6.9 million for the fourth quarter and $58.7 million for the year ended December 31, 2021. Revenue for the year ended December 31, 2021 was $20.1 million. Research and development expenses were $18.8 million for the fourth quarter and $55.1 million for the year ended December 31, 2021.
Entered into a license agreement with Hansoh for KER-050 in mainland China, Hong Kong and Macau.
Keros received an upfront net payment of $18.0 million in January 2022 from Hansoh.
Christopher Rovaldi was appointed as Chief Operating Officer.
Keros expects that the cash and cash equivalents it had on hand at December 31, 2021, along with the net $18.0 million upfront payment pursuant to the license agreement with Hansoh, which the Company received in January 2022, will fund its operating expenses and capital expenditure requirements into the first quarter of 2024.
Keros
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Forward Guidance
Keros expects to report additional data from the ongoing Phase 2 clinical trial of KER-050 in patients with myelodysplastic syndromes in mid-2022, initial data from the ongoing Phase 2 clinical trial of KER-050 in patients with myelofibrosis by the end of 2022, initiate two Phase 2 clinical trials of KER-047 in the first half of 2022, and report initial data from Part 1 of the ongoing Phase 1 clinical trial of KER-012 in healthy volunteers in the second quarter of 2022 and additional data from Part 2 of this trial in the second half of 2022