Keros Therapeutics, Inc. Announces Corporate Restructuring

Published: 2025-05-29 08:36:25 ET KROS

Published on 05/29/2025 at 08:36

Keros Therapeutics, Inc. announced that in connection with the decision to discontinue all development of cibotercept in PAH and an assessment of its ongoing development programs, the Keros Board of Directors (the ?Board?) and management team have decided to reduce the Company?s headcount by approximately 45%, after which the Company will have 85 full-time employees. The reduction in headcount will commence after the 60-day notice period required by the Worker Adjustment and Retraining Notification Act has elapsed, and as a result of these actions, Keros expects to realize average annualized cost savings of approximately $17 million. As previously announced on April 10, 2025, with the assistance of outside financial and legal advisors, the Strategic Committee of the Board, which consists of independent and disinterested directors, is continuing to evaluate a comprehensive range of strategic alternatives, including but not limited to a sale of the Company or other business combination transaction, continued investment in the Company?s pipeline, and/or return of excess capital to stockholders.

Keros intends to provide a preliminary update regarding the status of the process no later than June 9, 2025.