Keros Therapeutics, Inc. Stock Price, News & Analysis

Keros Therapeutics (Nasdaq: KROS) has announced the first patient dosing in its Phase 3 RENEW clinical trial of elritercept, targeting adults with transfusion-dependent anemia in myelodysplastic syndromes (MDS). This milestone triggered a $10 million payment from Takeda under their global license agreement.

The agreement, effective since January 2025, included a $200 million upfront payment and potential milestone payments exceeding $1.1 billion. Keros maintains rights to receive tiered royalties on net sales, while Takeda holds commercialization rights worldwide except for mainland China, Hong Kong, and Macau.

ADAR1 Capital Management, Keros Therapeutics' (KROS) largest stockholder, criticizes the company's 2025 Annual Meeting results and capital return strategy. Directors Mary Ann Gray and Alpna Seth received significant opposition, with only 34% and 37% of shares voting for their election respectively. While ADAR1 acknowledges positive steps like discontinuing cibotercept development and reducing headcount, they argue these actions are insufficient. The activist investor demands Keros return $475M to shareholders via special dividend by Q3 2025, implement a contingent value right for Takeda partnership proceeds, and reduce costs more aggressively. ADAR1 threatens to nominate new directors at the 2026 Annual Meeting if the board maintains its current strategy.

Keros Therapeutics (NASDAQ: KROS) has concluded its strategic alternatives review and announced plans to return $375 million in excess capital to stockholders. The company's Board of Directors unanimously approved this decision while maintaining focus on developing KER-065, their lead product candidate for neuromuscular diseases, particularly Duchenne muscular dystrophy. The strategic review process, led by the Board with assistance from outside advisors, evaluated various options including company sale, business combinations, pipeline investment, and capital return. The specific terms and structure of the capital return will be announced at a later date. Lead Independent Director Jean-Jacques Bienaimé emphasized that this decision reflects careful consideration of capital requirements, stockholder feedback, and confidence in Keros's potential to deliver meaningful therapeutic benefits to patients.

Keros Therapeutics (NASDAQ: KROS), a clinical-stage biopharmaceutical company specializing in TGF-ß family protein signaling disorders, announced that CEO Jasbir S. Seehra will participate in a fireside chat at the Goldman Sachs 46th Annual Global Healthcare Conference. The presentation is scheduled for June 9, 2025, at 9:20 a.m. Eastern time. The event will be accessible via live audio webcast, with a replay available on the company's investor relations website for 90 days after the event.

Keros Therapeutics (NASDAQ: KROS) announced the discontinuation of its cibotercept (KER-012) development program for PAH following safety concerns in the Phase 2 TROPOS trial. The trial was halted after observing pericardial effusions at multiple dose levels. In response, the company announced a corporate restructuring that includes a 45% workforce reduction, leaving 85 full-time employees, expected to result in $17 million in annual cost savings. The Strategic Committee of the Board continues to evaluate strategic alternatives, including potential sale of the company, pipeline investment, or return of capital to stockholders. An update on this strategic review is expected by June 9, 2025.

ISS, a leading proxy advisory firm, has recommended that Keros Therapeutics (KROS) stockholders withhold votes from directors Dr. Mary Ann Gray and Dr. Alpna Seth at the upcoming June 4, 2025 Annual Meeting. ADAR1 Capital Management, Keros's largest stockholder with a 13.3% stake, supports this recommendation, citing concerns about corporate governance. The company plans to disclose its strategic review results five days after the Annual Meeting, a timing that ADAR1 criticizes. Dr. Daniel Schneeberger, ADAR1's Managing Partner, argues that Keros's cash balance is excessive compared to its clinical opportunities and calls for a significant return of capital to shareholders.

Keros Therapeutics (NASDAQ: KROS) urges stockholders to vote "FOR" three director nominees at its upcoming Annual Meeting on June 4, 2025. The company is conducting a strategic review process, with an update expected by June 9, 2025, to evaluate options including potential sale, business combinations, pipeline investment, and/or capital return. Keros highlights its pipeline progress, including: KER-065 for Duchenne muscular dystrophy, advancing to Phase 2 in Q1 2026; elritercept (KER-050) licensed to Takeda in a deal worth up to $1.3B ($200M upfront + $1.1B in milestones); and cibotercept (KER-012) for PAH, with topline Phase 2 data expected in Q2 2025. The company faces opposition from ADAR1 Capital Management, which is pushing for immediate liquidation. The board emphasizes its independence (8 of 9 directors) and expertise in biotech/pharma sectors.

ADAR1 Capital Management, the largest shareholder of Keros Therapeutics (NASDAQ: KROS) with a 13.3% stake, has released an investor presentation detailing its reasons for opposing the re-election of Dr. Mary Ann Gray and Dr. Alpna Seth to the company's Board of Directors. The decision will be voted on at Keros' Annual Meeting of Stockholders scheduled for June 4, 2025.

Keros Therapeutics (NASDAQ: KROS), a clinical-stage biopharmaceutical company specializing in TGF-ß family protein signaling disorders, has announced its participation in the Bank of America 2025 Global Healthcare Conference. The company's CEO, Jasbir S. Seehra, Ph.D., will engage in a fireside chat presentation on May 13, 2025, at 8:00 p.m. Eastern time. The presentation will be accessible via live webcast, with a replay available on the company's investor relations website for 90 days after the event.