Overview

• US biopharma firm's Q1 net loss follows prior-year profit due to lower license revenue

• Research and development expenses fell after elritercept costs shifted to Takeda and 2025 restructuring

• Company expects cash reserves to fund operations into first half of 2028

Outlook

• Company expects cash and cash equivalents to fund operations into the first half of 2028

Result Drivers

• LICENSE REVENUE DROP - Absence of prior-year license revenue from Takeda agreement drove decline in Q1 results

• R&D COST SHIFT - Research and development expenses fell as elritercept-related costs moved to Takeda and after 2025 restructuring

• LOWER ADMIN COSTS - General and administrative expenses decreased due to lower compensation costs after 2025 restructuring

Company press release: ID:nGNX8PMjYL

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$23.71 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Keros Therapeutics Inc is $20.00, about 66.8% above its May 13 closing price of $11.99

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