Keros Therapeutics, Inc. reported a net loss of $53.0 million for the third quarter of 2024, an increase from the $39.4 million net loss reported in the same period of 2023. This widening loss was primarily attributed to increased research and development efforts and additional investments to support clinical and corporate goals.
Research and development expenses rose to $49.2 million in Q3 2024, up from $34.1 million in Q3 2023, driven by pipeline advancement, manufacturing activities, and personnel costs. General and administrative expenses also saw a slight increase to $9.8 million from $9.1 million in the prior-year quarter.
As of September 30, 2024, Keros held $530.7 million in cash and cash equivalents, an increase from $331.1 million at the end of 2023. The company projects that its current capital, combined with net proceeds from its ATM through October 31, 2024, will fund its operating expenses and capital expenditure requirements into the third quarter of 2027.
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