ADAR1 announces advisor recommendation to Keros stockholders to withhold votes

ADAR1 Capital Management, the largest stockholder of Keros Therapeutics (KROS) with approximately 13.3% of the Company’s outstanding shares, announced that leading independent proxy advisory firm Institutional Shareholder Services has recommended that Keros stockholders WITHHOLD votes from incumbent directors Mary Ann Gray and Alpna Seth at the Company’s upcoming Annual Meeting of Stockholders, scheduled for June 4. In its report, ISS raised serious concerns regarding the Company’s governance and concluded that greater accountability at Keros is needed. ADAR1 also noted that the Company announced that it intends to disclose the outcome of its strategic review process five days after the Annual Meeting. Stockholders are being asked to cast critical votes without knowing whether the Board’s strategic process has produced a result that is in the best interests of stockholders. ADAR1 calls on the Company to disclose the results of its strategic review before the Annual Meeting so that stockholders can evaluate whether the outcome is satisfactory before deciding how to vote.