Keros Therapeutics, Inc. reported a net loss of $46.0 million for the fourth quarter of 2024, compared to a net loss of $40.2 million for the same period in 2023. For the full year ended December 31, 2024, the net loss increased to $187.4 million from $153.0 million in 2023, primarily due to increased research and development efforts.
The company generated $3.0 million in revenue for the fourth quarter and $3.6 million for the full year 2024, largely from a milestone achieved under its license agreement with Hansoh. This compares to $0.1 million and $0.2 million in revenue for the respective periods in 2023.
Research and development expenses for the full year 2024 were $173.6 million, up from $135.3 million in 2023, driven by the advancement of its pipeline, including the TROPOS trial, KER-065, and elritercept. Keros' cash and cash equivalents stood at $559.9 million as of December 31, 2024, and with the $200 million upfront payment from Takeda received in February 2025, the company expects to fund operations into 2029.
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