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Dec 31, 2023
Keros Q4 2023 Earnings Report
Keros reported financial results for Q4 and full year 2023, highlighting clinical progress across the pipeline and advancement of KER-065 into Phase 1 trial.
Key Takeaways
Keros Therapeutics reported a net loss of $40.2 million for the fourth quarter of 2023, driven by increased research and development expenses and investments to support clinical and corporate goals. The company's cash and cash equivalents totaled $331.1 million as of December 31, 2023, which, along with proceeds from a January 2024 offering, is expected to fund operations into 2027.
Keros made continued clinical progress across its pipeline in 2023.
Phase 2 clinical trial evaluating KER-012 in patients with pulmonary arterial hypertension (PAH) was commenced.
Exciting data was presented from two ongoing Phase 2 clinical trials of KER-050 in patients with myelodysplastic syndromes (MDS) and myelofibrosis.
KER-065 advanced into a Phase 1 healthy volunteer clinical trial at the beginning of 2024.
Keros
Keros
Keros Revenue by Segment
Revenue by Segment
Service and other Revenue
CapyFin.com Forward Guidance
Keros anticipates several program milestones, including engaging with regulators on the Phase 3 trial design for KER-050 in MDS, reporting additional data from KER-050 trials in MDS and myelofibrosis, providing an update on KER-012 enrollment in PAH patients, reporting initial data from the KER-012 biomarker trial in chronic heart failure patients, and reporting initial data from the KER-065 Phase 1 trial in healthy volunteers.
Positive Outlook
- Engage with regulators on the design of the planned Phase 3 clinical trial of KER-050 in patients with MDS in the first half of 2024
- Report additional data from Part 2 of the ongoing Phase 2 clinical trial of KER-050 in patients with MDS in the second and fourth quarters of 2024
- Report additional data from the ongoing Phase 2 clinical trial of KER-050 in patients with myelofibrosis in the second and fourth quarters of 2024
- Provide an update on enrollment of the ongoing Phase 2 clinical trial evaluating KER-012 in patients with PAH (the “TROPOS trial”) in the first half of 2024
- Report initial data from the ongoing Phase 2 open-label biomarker trial of KER-012 in patients with chronic heart failure with preserved injection and in such patients with reduced ejection fraction in the second half of 2024
Challenges Ahead
- Limited operating history and historical losses
- Ability to raise additional funding to complete the development and any commercialization of its product candidates
- Dependence on the success of its product candidates, KER-050, KER-012 and KER-065
- Potential delays in initiating, enrolling or completing any clinical trials
- Competition from third parties that are developing products for similar uses