Keros Therapeutics, Inc.
- Open
- 10.64
- Day high
- 10.76
- Day low
- 10.35
- Prev close
- 10.61
- Volume
- 140K
- Mkt cap
- $211M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 6.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$59K over the last 3 months (3 open-market buys, 4 sales)
- 🏛Institutions reducing (13F)
Keros Therapeutics, Inc. (KROS) is a Healthcare company listed on NASDAQ. The stock is down 23% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 4 sales (SEC Form 4).
Keros Therapeutics, Inc. (KROS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KROS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.92 | $-1.21 | -31.5% | $367000 | -81.0% |
| Mar 4, 2026 | $-0.49 | $-0.86 | -75.5% | $385000 | -21.9% |
| Nov 5, 2025 | $-1.11 | $-0.18 | +83.8% | $14M | +289.4% |
| Aug 6, 2025 | $-1.14 | $-0.76 | +33.3% | $18M | +465.9% |
| Feb 26, 2025 | $-1.36 | $-1.14 | +16.2% | $3M | -86.3% |
| Feb 28, 2024 | $-1.38 | $-1.34 | +2.9% | $143000 | — |
| May 4, 2023 | $-1.13 | $-1.26 | -11.5% | — | — |
| Mar 3, 2023 | $-1.12 | $-1.09 | +2.7% | — | — |
| Nov 3, 2022 | $-1.26 | $-0.92 | +27.0% | — | — |
| Aug 4, 2022 | $-1.07 | $-1.13 | -5.6% | $100000 | — |
| May 5, 2022 | $-0.86 | $-1.01 | -17.4% | — | — |
| Mar 9, 2022 | $-0.94 | $-0.30 | +68.1% | $20M | — |
KROS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 17, 2026 | BIENAIME JEAN JACQUESdirector | Buy | 1,000 | $10.61 |
| Jul 6, 2026 | Prener Annedirector | Grant | 14,870 | $10.88 |
| Jul 6, 2026 | Prener Annedirector | Grant | 13,786 | — |
| Jun 17, 2026 | BIENAIME JEAN JACQUESdirector | Buy | 1,000 | $10.19 |
| Jun 15, 2026 | Newton Charles W.director | Sell | 550 | $10.04 |
| Jun 8, 2026 | Farzan Nimadirector | Sell | 2,625 | $10.73 |
| Jun 8, 2026 | Knowles Juliusdirector | Sell | 2,625 | $10.73 |
| Jun 5, 2026 | BIENAIME JEAN JACQUESdirector | Grant | 7,142 | — |
| Jun 5, 2026 | Farzan Nimadirector | Grant | 7,433 | $10.50 |
| Jun 5, 2026 | GRAY MARY ANNdirector | Grant | 7,142 | — |
| Jun 5, 2026 | Seth Alpnadirector | Grant | 7,142 | — |
| Jun 5, 2026 | GRAY MARY ANNdirector | Grant | 7,433 | $10.50 |
| Jun 5, 2026 | BIENAIME JEAN JACQUESdirector | Grant | 7,433 | $10.50 |
| Jun 5, 2026 | Seth Alpnadirector | Grant | 7,433 | $10.50 |
| Jun 5, 2026 | Seth Alpnadirector | Sell | 2,625 | $10.72 |
Source: KROS SEC Form 4 filings, latest Jul 17, 2026. For informational purposes only — not investment advice.
See the full KROS insider & 13F page →Keros Therapeutics, Inc. company profile
Overview
Keros Therapeutics, Inc. (NASDAQ:KROS) is a clinical-stage biopharmaceutical company founded in 2015 and headquartered in Lexington, Massachusetts. The company went public in April 2020 and focuses on developing novel treatments for patients with hematological and musculoskeletal disorders that have significant unmet medical needs. Keros operates in the specialized field of protein therapeutics and small molecule drugs, targeting conditions affecting blood cell production and bone health.
Business
Keros Therapeutics operates in the biotechnology sector, specifically developing treatments for hematological disorders (blood-related conditions) and musculoskeletal disorders (bone and muscle conditions). The company's approach centers on targeting specific biological pathways that regulate cell growth and development. The company's pipeline consists of three main product candidates. KER-050 is their lead protein therapeutic designed to treat cytopenias - conditions where patients have dangerously low blood cell counts. This includes anemia (low red blood cells) and thrombocytopenia (low platelets) in patients with myelodysplastic syndromes and myelofibrosis. These are serious blood cancers where the bone marrow fails to produce healthy blood cells properly, leaving patients vulnerable to fatigue, bleeding, and infections. KER-047 is a small molecule drug candidate currently in Phase 1 clinical trials for treating anemia. Small molecule drugs are typically easier to manufacture and administer than protein therapeutics, often taken orally rather than by injection. KER-012 represents the company's expansion into bone disorders, currently in Phase 1 trials for conditions involving bone loss such as osteoporosis (brittle bones common in aging) and osteogenesis imperfecta (a genetic condition causing fragile bones). This candidate is also being developed for pulmonary arterial hypertension, a rare condition where high blood pressure in the lungs can be life-threatening. All three candidates work by modulating specific protein signaling pathways that control how cells grow, differentiate, and survive, representing a targeted approach to treating these complex disorders.
Revenue model
As a clinical-stage biopharmaceutical company, Keros does not yet generate significant product revenue. The company's current minimal revenues (approximately $3.6 million in 2024) likely come from research collaborations, licensing agreements, or government grants rather than commercial drug sales. Keros operates on a typical biotech business model where the company invests heavily in research and development with the expectation of future revenue from successful drug approvals. The ultimate revenue model will depend on product sales once drugs receive regulatory approval, potentially supplemented by licensing deals with larger pharmaceutical companies for certain markets or indications. The paying customers will eventually be healthcare systems, hospitals, and patients (through insurance coverage) who need treatments for the targeted rare diseases. Given the focus on rare hematological and musculoskeletal disorders, the addressable patient populations are relatively small but represent high unmet medical needs, potentially supporting premium pricing. Several factors could significantly impact future margins. Positive clinical trial results would increase the likelihood of regulatory approval and commercial success, while negative results could require costly pivots or program terminations. The competitive landscape in rare disease treatments is evolving rapidly, with larger pharmaceutical companies increasingly interested in acquiring promising assets. Manufacturing costs for protein therapeutics like KER-050 tend to be higher than small molecules, affecting gross margins. Additionally, the regulatory pathway for rare diseases often involves smaller, faster clinical trials but may require post-market studies, impacting development timelines and costs.
Competitive moat
Keros Therapeutics operates in a challenging competitive environment with limited sustainable moats typical of early-stage biotechnology companies. The company's primary competitive advantage lies in its scientific expertise and intellectual property around specific protein therapeutic targets, particularly in the activin receptor pathway that their lead candidates target. The company's focus on rare diseases provides some natural protection through smaller addressable markets that may not attract significant competition from larger pharmaceutical companies until clinical success is demonstrated. Additionally, the regulatory pathway for rare diseases often involves orphan drug designations, which can provide market exclusivity periods and development incentives. However, Keros faces substantial competitive risks. The biotechnology sector is highly innovative, with numerous companies and academic institutions working on similar therapeutic approaches. Larger pharmaceutical companies with significantly greater resources could develop competing treatments or acquire promising competitors. The company's moat is relatively weak until it achieves regulatory approval and demonstrates commercial success. The most significant threat comes from clinical trial failures, which could eliminate the company's competitive position entirely. Additionally, breakthrough treatments from competitors targeting the same patient populations could render Keros's pipeline less valuable. The company's survival and competitive position depend heavily on successful clinical execution and the ability to maintain intellectual property protection while navigating an increasingly crowded rare disease treatment landscape.
Risks & safety
Keros demonstrates a strong financial position with substantial cash reserves but faces typical biotech risks around cash burn and clinical execution. • Cash Position: $720.5 million in cash and short-term investments as of Q1 2025, providing significant runway for operations • Debt Level: Minimal debt with debt-to-equity ratio of only 2.5%, indicating low financial leverage risk • Current Ratio: Exceptional liquidity with current ratio of 19.3, meaning current assets far exceed current liabilities • Cash Burn: Operating cash flow was negative $160.9 million in 2024, but the current cash position provides several years of runway at current burn rates • Valuation Metrics: Trading at 0.7x price-to-earnings based on recent profitable quarter, though this appears to be driven by one-time items rather than sustainable operations • Solvency Risk: Very low near-term solvency risk given strong balance sheet and minimal debt obligations The primary financial risk stems from the inherent uncertainty of clinical-stage drug development, where negative trial results could significantly impact the company's value and future funding requirements.
Recent development
Based on the available financial data, Keros has experienced significant developments over the past few years, though specific strategic details are limited without earnings call transcripts. The most notable development appears to be a substantial revenue event in Q1 2025, where the company reported $211.2 million in revenue compared to minimal revenues in previous periods, suggesting a major milestone such as a licensing deal, partnership agreement, or regulatory milestone payment. The company has maintained its focus on advancing its three-candidate pipeline through clinical trials. KER-047 and KER-012 have both progressed into Phase 1 clinical trials, representing important developmental milestones for the company's diversification beyond its lead candidate KER-050. The financial trajectory shows the company successfully managing its cash position while investing in clinical development. The substantial cash raise and strong balance sheet position indicate successful capital raising activities, likely through equity offerings or strategic partnerships, providing the financial foundation necessary to advance multiple clinical programs simultaneously. The dramatic improvement in financial metrics in Q1 2025, including positive net income and EBITDA, suggests the company may have achieved a significant commercial or partnership milestone, though the sustainability of this performance will depend on continued clinical and commercial execution.
KROS company profile · for informational purposes only — not investment advice.
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