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Dec 31, 2024
Keros Q4 2024 Earnings Report
Keros Therapeutics reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Keros Therapeutics reported a net loss of $46.0 million for the fourth quarter of 2024, an increase from the $40.2 million net loss in the same period last year. Revenue for the quarter was $3.0 million, primarily from a milestone achievement. The company's cash position was strengthened by a $200.0 million upfront payment from a license agreement with Takeda, extending its cash runway into 2029.
Net loss for Q4 2024 was $46.0 million, compared to $40.2 million for Q4 2023, primarily due to increased R&D efforts.
Total revenue for Q4 2024 was $3.042 million, significantly up from $0.143 million in Q4 2023, driven by a license revenue milestone.
Research and development expenses increased to $45.6 million in Q4 2024 from $37.5 million in Q4 2023, reflecting pipeline advancement.
Cash and cash equivalents as of December 31, 2024, were $559.9 million, bolstered by a $200.0 million upfront payment received in February 2025, extending the cash 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 its cash and cash equivalents, including the upfront payment from the Takeda Agreement, to fund its planned operating expenses and capital expenditure requirements into 2029.
Positive Outlook
- Initial data from the Phase 1 clinical trial of KER-065 in healthy volunteers expected in Q1 2025, informing advancement into a Phase 2 clinical trial for neuromuscular disease.
- Continued expectation to report data from the Phase 2 TROPOS trial evaluating cibotercept (KER-012) in patients with pulmonary arterial hypertension.
- Evaluation of appropriate development strategy for cibotercept following data readout.
- Cash and cash equivalents, including the $200 million upfront payment from Takeda, are expected to fund operations into 2029.
- Advancement of promising pipeline of novel therapeutics.
Challenges Ahead
- No specific negative forward guidance was provided in the report, but general risks associated with clinical trials and drug development are implied.
- Potential for delays in initiating, enrolling, or completing clinical trials.
- Competition from third parties developing products for similar uses.
- Risks related to obtaining, maintaining, and protecting intellectual property.
- Dependence on third parties for manufacturing, clinical trials, and preclinical studies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income