Keros repurchases $181M of stock from ADAR1 & Pontifax at $17.75; plans $194M tender offer

Keros Therapeutics, Inc.

Agreed to repurchase all shares held by ADAR1 (13.3%) and Pontifax (11.8%) at $17.75/share for ~$181M total.
Plans to commence tender offer by end of October 2025 for up to $194M of additional shares at $17.75/share.
Directors Tomer Kariv and Ran Nussbaum resigned from board; Jean-Jacques Bienaimé appointed Nominating Committee Chair.
Preliminary cash and cash equivalents as of Sept 30, 2025: ~$693.5M.
Will distribute 25% of any net proceeds from Takeda license agreement received by Dec 31, 2028 to stockholders.

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