Keros Therapeutics, Inc. ( (KROS) ) has released its Q3 earnings. Here is a breakdown of the information Keros Therapeutics, Inc. presented to its investors.
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Keros Therapeutics, Inc. is a clinical-stage biopharmaceutical company that specializes in developing and commercializing novel therapeutics for treating disorders related to dysfunctional signaling of the transforming growth factor-beta family of proteins.
In its recent earnings report for the third quarter of 2024, Keros Therapeutics highlighted its ongoing clinical advancements and financial position. The company successfully completed enrolment ahead of schedule in its Phase 2 TROPOS trial of cibotercept for pulmonary arterial hypertension, and strengthened its cash position through additional share sales.
Keros reported a net loss of $53.0 million for the third quarter of 2024, an increase from the $39.4 million loss reported in the same period of 2023. This was largely attributed to heightened research and development expenses, which rose to $49.2 million from $34.1 million, as the company invested in advancing its clinical pipeline. Additionally, general and administrative expenses increased slightly to $9.8 million, reflecting organizational growth.
The company’s cash and cash equivalents at the end of September 2024 stood at $530.7 million, significantly up from $331.1 million at the end of 2023. This financial position is expected to support Keros’ operations and capital expenditures into the third quarter of 2027.
Looking forward, Keros Therapeutics is poised to continue its clinical development programs with anticipated data updates from its key therapeutic candidates over the next nine months, reinforcing its commitment to advancing treatments for complex disorders.
