Keros Therapeutics, Inc. (KROS) Bundle
An Overview of Keros Therapeutics, Inc. (KROS)
General Summary of Keros Therapeutics, Inc. (KROS)
Keros Therapeutics, Inc. (KROS) was founded in 2015 and is focused on developing innovative therapies for patients with hematologic and other diseases. The company's lead product candidate, elritercept (KER-050), targets hematological disorders, and it is currently undergoing clinical trials. Keros has also developed additional product candidates, including cibotercept (KER-012) and KER-065, which are in various stages of development.
As of 2024, Keros Therapeutics has made significant progress in its clinical trials. The company has reported sales from clinical product supply agreements, notably the agreement with Hansoh Healthtech Co., Ltd., which contributed to its revenue stream. The total sales for the company in 2024 have reached approximately $0.5 million from service and other revenue related to this agreement.
Company's Financial Performance in the Latest Financial Reports
In the most recent financial reporting period, Keros Therapeutics reported a net loss of $141.3 million for the nine months ended September 30, 2024, compared to a net loss of $112.7 million for the same period in 2023. The company's total revenue for the nine months was approximately $0.5 million, a substantial increase from $8,000 reported in the previous year, primarily driven by the shipment of clinical product supply under the Hansoh Agreement.
The research and development expenses for the nine months ended September 30, 2024, totaled $128.0 million, up from $97.8 million in the same period of 2023, reflecting increased clinical trial activity. General and administrative expenses amounted to $30.1 million for the nine months ended September 30, 2024, compared to $25.7 million in the prior year.
As of September 30, 2024, Keros Therapeutics had cash and cash equivalents of $530.7 million, providing a strong liquidity position to support ongoing research and development activities. The company raised approximately $316.3 million from financing activities during the nine months ended September 30, 2024.
Introduction to Keros Therapeutics as an Industry Leader
Keros Therapeutics is recognized as a leader in the biotechnology sector, particularly in hematology. The company is at the forefront of developing therapies that address significant unmet medical needs in hematologic diseases. Keros has established collaborations and licensing agreements that enhance its research capabilities and market reach, such as the exclusive patent license agreement with The General Hospital Corporation.
The innovative approach to drug development and strong financial backing position Keros Therapeutics well for future growth and success within the industry. As the company advances its clinical trials and works towards regulatory approvals, it continues to attract investor interest and support.
Mission Statement of Keros Therapeutics, Inc. (KROS)
Mission Statement of Keros Therapeutics, Inc. (KROS)
Keros Therapeutics, Inc. (KROS) is a clinical-stage biopharmaceutical company committed to developing innovative therapeutics targeting disorders linked to dysfunctional signaling of the transforming growth factor-beta (TGF-ß) family of proteins. The mission statement serves as a guiding principle for the company's long-term goals and strategic initiatives, emphasizing their dedication to patient care and scientific advancement.
Core Component 1: Innovation
Keros Therapeutics prioritizes innovation as a core component of its mission statement. The company is engaged in developing novel therapeutics, including its lead product candidate, elritercept (KER-050), aimed at treating cytopenias in patients with myelodysplastic syndromes (MDS) and myelofibrosis. In the nine months ended September 30, 2024, Keros reported research and development expenses of $127.998 million, reflecting its commitment to advancing innovative solutions in biopharmaceuticals.
Core Component 2: Patient Focus
Another integral aspect of Keros's mission is its focus on patients. The company aims to provide meaningful, disease-modifying benefits to individuals suffering from significant health challenges. As of September 30, 2024, Keros had an accumulated deficit of $522.8 million, highlighting the financial investments made toward patient-centered research and the development of effective treatments. The ongoing clinical trials for elritercept and other candidates exemplify this commitment to improving patient outcomes.
Core Component 3: Collaboration
Collaboration is essential to Keros's mission, as it seeks partnerships to enhance its research capabilities and accelerate product development. The company's strategic collaborations have enabled it to leverage external expertise and resources, crucial for navigating the complexities of bringing new therapies to market. Keros's ability to secure significant financing through its ATM Sales Agreement, which allowed for the issuance of shares amounting to $158.1 million during the nine months ended September 30, 2024, demonstrates its proactive approach to fostering collaborations that support its mission.
| Financial Metric | Value (as of September 30, 2024) |
|---|---|
| Research and Development Expenses | $127.998 million |
| Accumulated Deficit | $522.8 million |
| Cash and Cash Equivalents | $530.7 million |
| Net Loss for Nine Months | $141.3 million |
| Shares Issued under ATM Sales Agreement | 3,059,830 |
Vision Statement of Keros Therapeutics, Inc. (KROS)
Vision for Innovation
Keros Therapeutics, Inc. aims to revolutionize the treatment landscape for patients with hematologic diseases through innovative therapies. The company is focused on developing its proprietary product candidates, including elritercept, cibotercept, and KER-065, which target unmet medical needs. As of September 30, 2024, Keros has invested approximately $128 million in research and development, a significant increase from $97.8 million in the same period of 2023, reflecting its commitment to innovation.
Vision for Patient-Centric Care
The vision of Keros Therapeutics emphasizes a patient-centric approach, ensuring that all developments are directed towards improving patient outcomes and quality of life. The company's ongoing clinical trials, particularly for elritercept and cibotercept, are designed to address critical issues faced by patients with lower-risk myelodysplastic syndromes and pulmonary arterial hypertension. The total operating expenses for these initiatives amounted to $158 million for the nine months ended September 30, 2024, highlighting the priority placed on patient welfare.
Vision for Sustainable Growth
Keros Therapeutics envisions sustainable growth through strategic partnerships and collaborations. The company recently entered into a manufacturing technology transfer agreement with Hansoh Pharmaceutical, which is expected to yield significant financial benefits. Keros received an upfront payment of $18 million in 2022 and could earn up to $170.5 million in milestone payments depending on the success of the product development. As of September 30, 2024, Keros had cash and cash equivalents of $530.7 million, ensuring a robust financial foundation for future growth.
Vision for Regulatory Excellence
Regulatory excellence is a core component of Keros Therapeutics' vision, with the company committed to meeting all regulatory requirements for its product candidates. This commitment is evident in the rigorous clinical trial designs and preclinical studies that are underway. The expected expenses related to regulatory affairs and compliance are part of the overall operating costs, which have reached $158 million for the nine months ended September 30, 2024.
| Vision Component | Key Metrics | Financial Impact |
|---|---|---|
| Innovation | $128 million R&D expenses (2024) | Increased investment from $97.8 million (2023) |
| Patient-Centric Care | Ongoing trials for elritercept and cibotercept | $158 million total operating expenses (2024) |
| Sustainable Growth | $530.7 million cash and equivalents (2024) | $18 million upfront payment from Hansoh |
| Regulatory Excellence | Investment in regulatory compliance | Part of $158 million operating expenses |
Vision for Collaborative Partnerships
Keros Therapeutics recognizes the importance of collaborative partnerships to enhance its capabilities and accelerate product development. The partnership with Hansoh includes provisions for revenue sharing based on clinical trial outcomes, demonstrating a forward-thinking approach to collaboration. The revenue potential from this partnership could significantly impact the company's financial growth in the coming years.
Core Values of Keros Therapeutics, Inc. (KROS)
Core Value: Innovation
The core value of Innovation at Keros Therapeutics, Inc. emphasizes the commitment to developing novel therapeutics that address significant medical needs. As a clinical-stage biopharmaceutical company, Keros aims to advance its product candidates through rigorous research and development.
In 2024, Keros reported research and development expenses of approximately $127.998 million for the nine months ended September 30, 2024, a significant increase from $97.765 million for the same period in 2023. This investment fuels the advancement of lead product candidates, including elritercept (KER-050) for myelodysplastic syndromes and cibotercept (KER-012) for pulmonary arterial hypertension.
Core Value: Integrity
Integrity is fundamental at Keros, guiding interactions with stakeholders and ensuring compliance with regulatory standards. Keros maintains transparency in its financial reporting and operational activities, reflecting its ethical commitment.
For instance, Keros reported a net loss of $141.327 million for the nine months ended September 30, 2024, compared to $112.749 million in 2023, demonstrating an honest portrayal of its financial challenges as it invests heavily in development.
Core Value: Collaboration
The value of Collaboration is critical in Keros' strategy to enhance its research and development efforts. The company engages in partnerships to expand its capabilities and accelerate the development of its product candidates.
In 2024, Keros recognized $0.5 million in service and other revenue related to its agreement with Hansoh, reflecting collaborative efforts that support clinical product supply. Such agreements are vital for leveraging external expertise and resources to advance Keros' mission.
Core Value: Patient-Centricity
Keros Therapeutics embodies Patient-Centricity by focusing on developing therapies that improve patients' lives. The company's research initiatives are driven by the goal of addressing unmet medical needs in various patient populations.
As of September 30, 2024, Keros' lead product candidate, elritercept, is in advanced clinical trials targeting cytopenias in patients with lower-risk myelodysplastic syndromes. This focus on specific patient outcomes underscores Keros' dedication to enhancing healthcare through innovative treatments.
Core Value: Sustainability
The value of Sustainability reflects Keros' commitment to responsible business practices that ensure long-term viability and positive societal impact. This is evident in its operational strategies and financial management.
Keros has maintained a robust cash position, reporting cash and cash equivalents of $530.7 million as of September 30, 2024. This financial stability supports ongoing research and development while allowing the company to navigate future challenges effectively.
| Core Value | Examples | Financial Impact (2024) |
|---|---|---|
| Innovation | Investment in R&D for drug development | $127.998 million in R&D expenses |
| Integrity | Transparent financial reporting | Net loss of $141.327 million |
| Collaboration | Agreements with partners like Hansoh | $0.5 million in service revenue |
| Patient-Centricity | Focus on therapies for unmet medical needs | Lead candidate in clinical trials |
| Sustainability | Robust cash management | $530.7 million in cash and cash equivalents |
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Resources:
- Keros Therapeutics, Inc. (KROS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Keros Therapeutics, Inc. (KROS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Keros Therapeutics, Inc. (KROS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.