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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Read More on KROS:
- Keros Therapeutics Announces Major Workforce Reduction Plan
- Keros Therapeutics discontinues development of cibotercept in PAH
- Keros Therapeutics reducing headcount by 45%
- Keros Therapeutics price target lowered to $32 from $33 at BofA
- ADAR1 announces advisor recommendation to Keros stockholders to withhold votes
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