Keros Therapeutics Announces Closing of Upsized Public Offering of Common Stock

LEXINGTON, Mass., Jan. 09, 2024 (GLOBE NEWSWIRE) — Keros Therapeutics, Inc. (“Keros” or “we”) (Nasdaq: KROS), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta (“TGF-ß”) family of proteins, today announced the closing of the previously announced underwritten public offering of 4,025,000 shares of common stock on January 8, 2024, at a public offering price of $40.00 per share, inclusive of the underwriters’ exercise in full of their option to purchase up to an additional 525,000 shares of common stock at the public offering price (the “Option”). The net proceeds to Keros from the offering, before deducting offering expenses, were approximately $151.3 million. All of the common stock was offered by Keros. Based on its current operating plan, as a result of the full exercise of the Option, Keros believes that the net proceeds from this offering, together with its cash and cash equivalents as of September 30, 2023 and net proceeds of approximately $68.5 million from the sale of shares of its common stock pursuant to its at-the-market sales agreement subsequent to September 30, 2023, will enable Keros to fund its planned operating expenses and capital expenditure requirements into 2027.