Keros Therapeutics, Inc. has announced the conclusion of its strategic alternatives review, with the decision to return $375 million in excess capital to stockholders. The company's board of directors unanimously determined to initiate this process, with the terms and structure of the capital return to be announced at a later date.
The lead independent director, Jean-Jacques Bienaimé, stated that the decision reflects the board and management team's commitment to enhancing stockholder value. This move comes as the company continues to pursue the development of its lead product candidate, ker-065, for the treatment of neuromuscular diseases, particularly focusing on Duchenne muscular dystrophy.
During the strategic review process, the board evaluated various alternatives, including a sale of the company or other business combination transaction, continued investment in the pipeline, and the return of excess capital to stockholders. The evaluation involved outreach to third parties and engagement with company stockholders.
Keros Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics for patients with disorders linked to dysfunctional signaling of the TGF-ß family of proteins. The company's lead product candidate, ker-065, is being developed for the treatment of neuromuscular diseases, with an initial focus on Duchenne muscular dystrophy. Additionally, the company is developing elritercept (ker-050) for the treatment of cytopenias in patients with myelodysplastic syndrome and myelofibrosis.
This announcement marks a significant development in the company's capital allocation strategy, signaling a focused effort to enhance stockholder value while maintaining its commitment to advancing its pipeline of potential therapeutics. Following these announcements, the company's shares moved -5.65%, and are now trading at a price of $14.19. If you want to know more, read the company's complete 8-K report here.
