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BofA says Keros cost reduction ‘disappoints,’ still sees reasons to like story

After Keros Therapeutics (KROS) announced it was discontinuing development of cibotercept in pulmonary arterial hypertension while also reducing headcount by 45%, BofA said the “news isn’t likely to surprise many,” though the savings, including $17M/ year starting in 2026, are “admittedly modest,” which “disappoints.” However, given Keros’ strong balance sheet and elritercept’s value, the firm continues to see “reasons to like the Keros story” and upside to shares at current levels, so it reiterates a Buy rating and $32 price target

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