Keros Therapeutics, Inc. has announced the initiation of a formal review process to evaluate strategic alternatives to maximize stockholder value for the company. The board of directors has authorized the formation of a committee to oversee the process and make a recommendation to the full board. The company also adopted a limited-duration stockholder rights plan in response to significant and rapid accumulations of the company’s common stock by several investors.
As of April 6, 2025, an individual investor holds 11.2% of Keros' outstanding common stock. In response to this, the board adopted the rights plan to protect the interests of the company and its stockholders, ensuring that all interested parties have the opportunity to participate fairly in the strategic review process.
Goldman Sachs & Co. LLC is serving as Keros’ financial advisor, and Cooley LLP is serving as legal counsel during this process.
Keros Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders linked to dysfunctional signaling of the transforming growth factor-beta ("TGF-ß") family of proteins. The company's most advanced product candidate, elritercept (ker-050), is being developed for the treatment of low blood cell counts in patients with myelodysplastic syndrome and myelofibrosis.
The company intends to provide a preliminary update regarding the status of the strategic review process within 60 days of the announcement. Any further developments related to the process will be disclosed when deemed appropriate or necessary. Following these announcements, the company's shares moved 19.7%, and are now trading at a price of $12.36. Check out the company's full 8-K submission here.
