Keros Therapeutics reports Q4 net loss $23.5M, full-year net income $87.0M

Keros Therapeutics, Inc.

Q4 2025 net loss $23.5M vs. $46.0M loss in Q4 2024; FY 2025 net income $87.0M vs. $187.4M loss in FY 2024.
Cash and equivalents $287.4M as of Dec 31, 2025, expected to fund operations into first half of 2028.
R&D expenses fell to $17.9M (Q4) and $129.6M (FY) due to transition of elritercept costs to Takeda.
Charles Newton appointed to board effective March 9, 2026; Carl Gordon steps down. Esther Cho promoted to Chief Legal Officer.
Phase 2 trial of rinvatercept for DMD expected to start in Q2 2026; ALS regulator engagement planned for H2 2026.

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