By Colin Kellaher
Keros Therapeutics is slashing its workforce by 45% as part of a restructuring following a decision by the clinical-stage biopharmaceutical company to end development of its cibotercept product candidate in pulmonary arterial hypertension, or PAH.
Keros on Thursday said it will have 85 full-time employees after the job cuts, adding that it expects about $17 million in average annualized cost savings.
The Lexington, Mass., company said it expects to incur about $3.2 million in cash charges associated with the reorganization, which it expects to complete by the end of the year.
Keros late last year halted two treatment arms in a Phase 2 study of cibotercept in PAH based on the observation of pericardial effusions, and it stopped all dosing in the trial in January based on a safety review due to new observations of pericardial effusion adverse events.
Keros, which in April said it was reviewing alternatives aimed at maximizing shareholder value, including a possible sale, on Thursday said it plans to provide a preliminary update on the review process by June 9.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 29, 2025 07:37 ET (11:37 GMT)
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