Keros Therapeutics Announces $5 Million Share Repurchase Authorization

Keros authorizes a $5 million share repurchase program funded after a $20 million milestone payment tied to elritercept’s ELRiSE MDS trial.

Rhea-AI Summary

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.

Positive

• $5 million share repurchase program authorized for common stock
• $20 million development milestone payment received from Takeda tied to elritercept

Negative

• None.

News Explained

For scale, Keros reported $257.606 million of cash and equivalents on June 30, 2026, versus the authorized $5 million program; that cash balance equals 1147.9 days of the last reported quarterly operating cash outflow at that rate.

Sources and calculations

• Keros Therapeutics Announces $5 Million Share Repurchase Authorization (2026-09-08)
• Keros Therapeutics second-quarter 2026 fundamentals (2026Q2)

• Available liquidity against the last reported quarterly operating outflow, in days at that rate $257,606,000 / ($20,421,000 / 91) = 1147.9 days

Market Context

The Jul 30 Takeda milestone announcement, involving the same $20 million payment, was followed by a ...

Analysis

The Jul 30 Takeda milestone announcement, involving the same $20 million payment, was followed by a 1.47% decline over 24 hours; today’s authorization followed receipt of that payment.

Key Figures

Share repurchase authorization: $5 million Development milestone payment: $20 million

Share repurchase authorization

$5 million

Repurchase program for common stock

Development milestone payment

$20 million

Received under the elritercept license agreement with Takeda

Historical Context

1 past event · Latest: Jul 30

1 event

1. Jul 30

   milestone payment

   24h Move

   -1.5%

   Takeda milestone payment triggered by first patient dosing in ELRiSE MDS

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

tgf-ß

1 terms

tgf-ß medical

"transforming growth factor-beta (“TGF-ß”) family of proteins"

Transforming growth factor beta (TGF-ß) is a naturally occurring protein that helps cells talk to each other and controls processes like growth, scarring and immune response. Think of it as a traffic signal for tissues that can either slow down or redirect cell behavior. Investors watch TGF-ß because drugs that change its signals can treat cancer, fibrosis and immune diseases, so changes in research results or regulatory news can strongly affect a biotech’s value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LEXINGTON, Mass., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (Nasdaq: KROS), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta (“TGF-ß”) family of proteins, today announced that its Board of Directors has approved a $5 million share repurchase program of the Company’s common stock following receipt of a $20 million development milestone payment under the license agreement of elritercept with Takeda Pharmaceuticals U.S.A., Inc., following the dosing of the first patient in the ELRiSE MDS clinical trial. This approval grants Keros’ management the authority to repurchase outstanding shares of the Company’s common stock, from time to time, in the open market and/or by such other means in accordance with applicable state and federal securities laws.

The timing and amount of any repurchases will depend on a variety of factors, including the market price of the Company’s common stock, general market and economic conditions, contractual limitations and other considerations. The program may be modified, suspended or discontinued at any time, and does not obligate the Company to repurchase any dollar amount or number of shares.

About Keros Therapeutics, Inc.

Keros is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including skeletal muscle, bone, adipose, heart tissue and blood. By leveraging this understanding, Keros has discovered and is developing protein therapeutics that have the potential to provide meaningful and potentially disease-modifying benefit to patients. Keros’ lead product candidate, rinvatercept, is being developed for the treatment of Duchenne muscular dystrophy and for the treatment of amyotrophic lateral sclerosis. Keros’ most advanced product candidate, elritercept, is being developed for the treatment of cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndromes and in patients with myelofibrosis.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “may,” “potential,” “will” or similar expressions are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: the Company’s share repurchase program, including the timing, manner and amount of any repurchases; and Keros’ capital allocation strategy and plans for use of its capital resources. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: risks related to the Company’s ability to repurchase shares, including market conditions, stock price fluctuations, and regulatory and contractual constraints; Keros’ limited operating history and historical losses; Keros’ ability to raise additional funding to complete the development and any commercialization of its product candidates; Keros’ dependence on the success of its product candidates, rinvatercept and elritercept; that Keros may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; Keros’ ability to obtain, maintain and protect its intellectual property; and Keros’ dependence on third parties in connection with manufacturing, clinical trials and preclinical studies.

These and other risks are described more fully in Keros’ filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q, filed with the SEC on August 3, 2026, and its other documents subsequently filed with or furnished to the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Keros undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact:

Justin Frantz
jfrantz@kerostx.com
617-221-6042

FAQ

How will Keros Therapeutics execute the $5 million share repurchase program?

Keros’ management is authorized to repurchase outstanding common shares from time to time in the open market and/or by other means that comply with applicable state and federal securities laws.

What factors will determine the timing and amount of Keros’ share repurchases?

The timing and amount of any repurchases will depend on the market price of Keros’ common stock, general market and economic conditions, contractual limitations and other considerations.

Is Keros obligated to repurchase the full $5 million of shares under this program?

No. The program does not obligate Keros to repurchase any specific dollar amount or number of shares and may be modified, suspended or discontinued at any time.

What event triggered the $20 million development milestone payment from Takeda?

The milestone payment was received following the dosing of the first patient in the ELRiSE MDS clinical trial of elritercept.