Quarterly ResultMay 14, 2026, 08:02 AM
Keros Reports Q1 Net Loss of $23.7M; Takeda Advances Elritercept to Phase 3
AI Summary
Keros Therapeutics reported a net loss of $23.7 million for Q1 2026, a significant decrease from a net income of $148.5 million in Q1 2025, primarily due to lower revenue from a Takeda license agreement and reduced R&D expenses. The company's partner, Takeda, plans to advance elritercept into a Phase 3 clinical trial for anemia in myelofibrosis. Keros maintains a strong cash position of $281.5 million, expected to fund operations into the first half of 2028.
Key Highlights
- Partner Takeda plans to advance elritercept into a Phase 3 clinical trial for anemia in myelofibrosis.
- Reported Q1 2026 net loss of $23.7 million, compared to net income of $148.5 million in Q1 2025.
- Total revenue for Q1 2026 was $0.367 million, down from $211.246 million in Q1 2025.
- Research and development expenses decreased by $32.6 million to $16.1 million in Q1 2026.
- General and administrative expenses decreased by $0.4 million to $10.1 million in Q1 2026.
- Cash and cash equivalents were $281.5 million as of March 31, 2026.
- Cash runway is expected to fund operations into the first half of 2028.
- Net loss per share was $(1.21) in Q1 2026, compared to net income per share of $3.66 in Q1 2025.