Keros Therapeutics, Inc. Q3 FY26 Results

Summary

Keros Therapeutics reported a net income of $14.2 million for the third quarter of 2026, a substantial improvement from a net loss of $7.3 million in the prior year's quarter, largely due to license revenue from Takeda. Total revenue for the quarter reached $40.0 million. The company also provided updates on its pipeline, including the dosing of the first patient in a Phase 2 trial for Duchenne muscular dystrophy and the nomination of a new preclinical asset, KER-206. Keros anticipates its current cash position will support operations into the second half of 2028.

Key Highlights

1. 1

   Keros Therapeutics reported net income of $14.2 million for the third quarter of 2026, a significant increase from a net loss of $7.3 million in the third quarter of 2025.

2. 2

   Total revenue for the third quarter of 2026 was $40.0 million, primarily driven by license revenue recognized from the agreement with Takeda.

3. 3

   Research and development expenses for Q3 2026 were $20.5 million, an increase from $19.5 million in Q3 2025, supporting pipeline advancement.

4. 4

   General and administrative expenses decreased to $6.7 million in Q3 2026 from $10.1 million in Q3 2025.

5. 5

   The company expects its cash and cash equivalents to fund operations into the second half of 2028.

6. 6

   The first patient was dosed in the Phase 2 clinical trial of rinvatercept for Duchenne muscular dystrophy in September 2026.

7. 7

   A novel ligand trap, KER-206, was nominated from the nonclinical pipeline for further investigation.