Biopharma company Keros' Q3 net loss narrows on Takeda license revenue

Overview

• Keros Q3 net loss narrows to $7.3 mln from $53 mln, largely due to Takeda license revenue

• Company plans to return $375 mln of excess capital to stockholders

• Research and development expenses decrease as Takeda assumes elritercept costs

Outlook

• Company expects cash to fund operations into first half of 2028

• Takeda plans Phase 3 trial for elritercept in myelodysplastic syndromes

• Keros advancing Phase 2 trial for KER-065 in Duchenne muscular dystrophy

Result Drivers

• TAKEDA LICENSE REVENUE - Revenue from license agreement with Takeda significantly reduced net loss

• R&D EXPENSES DECREASE - Transition of elritercept-related R&D expenses to Takeda lowered costs

• ADMIN EXPENSES INCREASE - External costs increased general and administrative expenses despite reduced headcount

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Keros Therapeutics Inc is $22.50, about 30.9% above its November 4 closing price of $15.55

Press Release: ID:nGNX8Gztlt

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)