Keros Therapeutics, Inc. develops clinical-stage protein therapeutics for disorders linked to dysfunctional signaling of the transforming growth factor-beta family of proteins. Company news centers on the rinvatercept (KER-065) program for neuromuscular diseases including Duchenne muscular dystrophy and amyotrophic lateral sclerosis, as well as elritercept for cytopenias in myelodysplastic syndrome and myelofibrosis.
Recurring updates include clinical data presentations, research collaborations, business highlights, financial results, and licensing economics tied to Takeda. Keros also reports governance changes, corporate presentations, portfolio prioritization, and capital actions such as its completed common-stock tender offer and capital return program.
Keros Therapeutics (Nasdaq: KROS) reported third-quarter 2026 net income of $14.153 million, reversing a loss in the year-earlier quarter. Revenue rose to $40.009 million from $14.262 million, including $40 million in license revenue. Diluted earnings per share were $0.70 versus a $0.18 loss. Research and development expenses increased to $20.491 million, while general and administrative expenses fell to $6.700 million.
The first patient received rinvatercept in a Phase 2 Duchenne muscular dystrophy trial in September 2026; Keros expects initial data in the first half of 2027. It also nominated nonclinical candidate KER-206 for further investigation in bone disorders. Cash and cash equivalents declined to $259.464 million at September 30 from $287.415 million at year-end 2025. Keros expects funding to last into the second half of 2028, based on current operating assumptions. Its nine-month net loss was $38.265 million.
Silence Therapeutics (SLN) agreed to a cash acquisition by Merck KGaA, Darmstadt, Germany, valuing its equity at about $1.3 billion. The October 19 agreement offers $20.00 per American Depositary Share (ADS), a 130% premium to the October 16 close and an 82% premium to the 30-day volume-weighted average price of $10.99. Enterprise value is $1.1 billion. The U.K. scheme of arrangement is expected to close in the first quarter of 2027, subject to shareholder, court and regulatory approvals.
The deal centers on divesiran, an RNA-based therapy for polycythemia vera, a disorder involving excess red blood cells. Its Phase 2 SANRECO trial reported an 88% response rate versus 19% with placebo. Silence ADSs rose 125.58% to $19.58 on October 19. Separately, Disc Medicine (IRON) reported that its Phase 3 APOLLO trial of bitopertin met all primary and secondary endpoints; its shares rose 38.86%.
Keros Therapeutics (KROS) expects a $20 million Takeda milestone payment after the first patient was dosed in the Phase 3 ELRiSE MF trial. The trial compares elritercept with placebo in patients with myelofibrosis and anemia who are receiving ruxolitinib. Keros expects to distribute 25% of the milestone payment’s net cash proceeds to stockholders after receiving it.
The Takeda license became effective January 16, 2025, and Keros received a $200 million upfront cash payment in February 2025. Under the agreement, Keros is eligible for development, commercial and sales milestones with the potential to exceed $1.1 billion, plus tiered royalties on net sales.
Keros Therapeutics (KROS) dosed the first patient in its Phase 2 trial of rinvatercept for Duchenne muscular dystrophy (DMD).
Keros expects initial data in the first half of 2027. Rinvatercept is designed to affect proteins involved in muscle and bone biology. A pediatric neurologist described the trial as an opportunity to assess its potential impact in patients with DMD who can and cannot walk. No clinical efficacy or safety results were disclosed.
Keros Therapeutics (KROS) announced that its Board of Directors has authorized a $5 million share repurchase program for the company’s common stock.
The authorization follows receipt of a $20 million development milestone payment from Takeda Pharmaceuticals U.S.A. under the license agreement for elritercept, triggered by dosing of the first patient in the ELRiSE MDS clinical trial. Management is permitted to repurchase shares from time to time in the open market and/or by other permitted methods, subject to applicable securities laws. The timing and total amount of repurchases will depend on factors such as Keros’ share price, market and economic conditions, contractual limits and other considerations. The program may be modified, suspended or discontinued at any time and does not obligate Keros to repurchase any specific amount of stock.
Keros Therapeutics (Nasdaq: KROS) reported a net loss of $28.7 million for the quarter ended June 30, 2026, compared to a net loss of $30.7 million a year earlier. The company highlighted initiation of a Phase 2 trial of rinvatercept in Duchenne muscular dystrophy (DMD), with initial data expected in the first half of 2027.
Research and development expenses declined to $22.3 million from $43.5 million, and general and administrative expenses fell to $8.6 million from $14.5 million, mainly due to the transition of elritercept expenses to Takeda and a 2025 restructuring. Revenue was $0 in the quarter versus $18.2 million in 2025. Cash and cash equivalents were $257.6 million, and Keros expects this to fund operations into the first half of 2028.
Keros Therapeutics (Nasdaq: KROS) announced it will receive a $20 million development milestone payment from partner Takeda under the global license agreement for elritercept, triggered by first patient dosing in the Phase 3 ELRiSE MDS trial comparing elritercept to epoetin alfa in anemia due to certain myelodysplastic syndromes.
According to Keros, the Takeda license, effective January 16, 2025, included a $200 million upfront payment and eligibility for development, commercial and sales milestones potentially exceeding $1.1 billion, plus tiered royalties on net sales. Keros expects to distribute 25% of the net cash proceeds from this milestone payment to stockholders.
Keros Therapeutics (Nasdaq: KROS) appointed Anne Prener, M.D., Ph.D. to its Board of Directors, effective July 1, 2026. Keros is a clinical-stage biopharma company developing therapeutics targeting dysfunctional TGF-ß signaling.
Dr. Prener brings CEO, hematology, and R&D leadership experience from multiple biotech and pharma roles.
Keros Therapeutics (Nasdaq: KROS) announced that President and CEO Jasbir S. Seehra, Ph.D., will participate in a fireside chat at the Goldman Sachs 47th Annual Global Healthcare Conference on Monday, June 8, 2026 at 4:00 p.m. ET.
A live audio webcast will be available via Goldman Sachs and an archived replay will be accessible in the Investors section of the Keros website for up to 90 days.
Keros Therapeutics (Nasdaq: KROS) reported first quarter 2026 results and a key pipeline update. Net loss was $23.7 million, versus net income of $148.5 million a year earlier, mainly reflecting 2025 Takeda license revenue and lower research and development activity.
R&D expenses fell to $16.1 million from $48.7 million, and G&A expenses were $10.1 million versus $10.5 million. Cash and cash equivalents were $281.5 million, expected to fund operations into the first half of 2028. Partner Takeda plans a Phase 3 trial of elritercept in anemia in myelofibrosis.