Keros Therapeutics to Return $375M to Stockholders

By Hao Liu • Monday, June 09 12:02 • Permanent Link

Keros Therapeutics, Inc. has announced the conclusion of a review process to evaluate strategic alternatives to maximize stockholder value. As a result, the company's board of directors has unanimously decided to initiate a process to return $375 million of excess capital to stockholders. The terms and structure of this capital return remain under consideration and are expected to be announced at a future date.

This decision reflects a thorough review of the company's capital requirements, feedback from stockholders, and confidence in the potential for Keros to provide meaningful and potentially disease-modifying benefits to patients. Keros is also continuing to pursue the development of its lead product candidate, Ker-065, for the treatment of neuromuscular diseases, with an initial focus on Duchenne muscular dystrophy.

During the strategic review process, the board, with the assistance of the strategic committee and outside financial and legal advisors, evaluated a comprehensive range of strategic alternatives, including a sale of the company or other business combination transaction, continued investment in the company's pipeline, and/or return of excess capital to stockholders.

Keros Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat disorders linked to dysfunctional signaling of the transforming growth factor-beta (TGF-ß) family of proteins. The company 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 various tissues. 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, Ker-065, is being developed for the treatment of neuromuscular diseases, with an initial focus on Duchenne muscular dystrophy. The company's most advanced product candidate, Elritercept (Ker-050), is being developed for the treatment of cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndrome and in patients with myelofibrosis. Following these announcements, the company's shares moved -0.46%, and are now trading at a price of $15.04. Check out the company's full 8-K submission here.

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