A Phase 3, Multicenter, Open-Label, Randomized Trial to Compare the Efficacy and Safety of Elritercept Versus Epoetin Alfa for the Treatment of Anemia Due to IPSS-R Very Low, Low, or Intermediate Risk Myelodysplastic Syndromes in ESA-naïve Adult Participants Who Require Red Blood Cell Transfusions

The main aim of this study is to assess how elritercept works in lowering the need for RBC (red blood cell) transfusions and how safe elritercept is when compared with epoetin alfa. Other aims are to learn if elritercept improves tiredness as reported by participants without needing RBC transfusion compared with epoetin alfa, the RBC transfusion burden and quality of life compared with epoetin alfa. The study also aims to find out the extent of the immune response to elritercept. The study will also check on the medical problems (safety) of elritercept.

Start Date01 Apr 2026

Sponsor / Collaborator

Takeda Pharmaceutical Co., Ltd.

NCT07319845

/ Not yet recruitingPhase 2

A Phase 2, Multicenter, Open-Label, Single-arm Study to Evaluate the Efficacy and Safety of TAK-226 for Transfusion-Dependent Anemia in Japanese Patients With Very Low, Low, or Intermediate Risk Myelodysplastic Syndromes

The main aim of the study is to evaluate how TAK-226 improves symptoms of transfusion-dependent anemia in Japanese patients with lower-risk myelodysplastic syndromes.
The study consists of Screening Period (up to 6 weeks), Treatment Period , Safety Follow-Up Period (8 weeks), and Long-Term Follow-Up Period (5 years from the first dose of the study drug or 3 years after the last dose, whichever is longer).
Participants of this study will be administered TAK-226 during Treatment Period. Subsequently, the participants will be monitored for side effects related to the study treatment during Safety Follow-Up Period and Long-Term Follow-Up Period. The approximate duration of participation for a participant is up to approximately 6 years.
During the study period, participants will visit the study clinic/hospital multiple times as per the study schedule. During Treatment Period, the participants will come to the clinic/hospital approximately every two to four weeks.

Start Date06 Feb 2026

Sponsor / Collaborator

Takeda Pharmaceutical Co., Ltd.

NCT06499285

/ RecruitingPhase 3

A Phase 3, Randomized, Double-Blind, Placebo-Controlled Study to Evaluate the Efficacy and Safety of Elritercept (KER-050) for the Treatment of Transfusion-Dependent Anemia in Adult Participants With Very Low-, Low-, or Intermediate-Risk Myelodysplastic Syndromes (MDS) (RENEW)

The main aim of this study is to find out how well elritercept works in lowering the need for RBC transfusions. Other aims are to learn how well elritercept works in reducing the need for RBC transfusions over longer periods of time or in adults with high transfusion needs. The study will also check on how safe elritercept is and how well it is tolerated.

Start Date06 May 2025

Sponsor / Collaborator

Takeda Pharmaceutical Co., Ltd.

100 Clinical Results associated with Elritercept

100 Translational Medicine associated with Elritercept

100 Patents (Medical) associated with Elritercept

Literatures (Medical) associated with Elritercept

01 Dec 2025·Current Hematologic Malignancy Reports

Emerging Therapeutic Approaches for Anemia in Myelofibrosis

Review

Author: Harrington, Patrick ; Palumbo, Giuseppe A ; Chifotides, Helen T ; Duminuco, Andrea ; Torre, Elena ; Bose, Prithviraj ; Vetro, Calogero

PURPOSE OF REVIEW:

In this review, we highlight conventional agents and novel emerging therapeutic strategies to treat anemia in MF.

RECENT FINDINGS:

Anemia is a common and challenging feature of myelofibrosis (MF). The pathobiology of anemia is multifactorial, including progressive bone marrow fibrosis, decreased erythropoiesis due to high hepcidin levels leading to iron sequestration in the reticuloendothelial system, hypersplenism, erythropoiesis inhibition by myelosuppressive JAK inhibitors (ruxolitinib, fedratinib), and others. MF-associated anemia has a negative impact on survival. Conventional agents to manage anemia include erythropoiesis-stimulating agents, danazol, corticosteroids, and immunomodulatory agents, but responses are infrequent and lack durability. Notable advancements have emerged in developing novel treatments for anemia in MF, including the regulatory approval of momelotinib (ACVR1/JAK1/2 inhibitor) in 2023 and development of novel promising agents targeting hemojuvelin and activins. Momelotinib and pacritinib (ACVR1/JAK2 inhibitor) are the preferred JAK inhibitors for patients with cytopenias (anemia, thrombocytopenia). Luspatercept and elritercept are activin receptor ligand traps, promoting erythroid maturation and late-stage erythropoiesis. Currently, luspatercept is being evaluated in a phase 3 trial (INDEPENDENCE™) for anemia in MF patients who are on a JAK2 inhibitor and require transfusions, and in a phase 2 trial (ODYSSEY) in combination with momelotinib in MF patients who are transfusion dependent, whether or not on a JAK inhibitor. Interim results of the RESTORE trial demonstrated that elritercept significantly decreased transfusions in MF patients. DISC-0974 is a first-in-class anti-hemojuvelin (positive hepcidin regulator) monoclonal antibody that decreased hepcidin expression, increased serum iron, and enhanced erythropoiesis in anemic patients with MF in a phase 1b/2 study. Burgeoning studies of novel anemia-targeted agents and combinations are significantly improving the quality of life and outcomes of patients with MF. The recent approval of momelotinib to treat MF with anemia and the emerging novel anemia-directed strategies in early and advanced clinical development have ushered in a new era in the treatment of MF-related anemia.

01 Jun 2025·AMERICAN JOURNAL OF HEMATOLOGY

Emerging Pathogenetic Mechanisms and New Drugs for Anemia in Myelofibrosis and Myelodysplastic Syndromes

Review

Author: Tefferi, Ayalew ; Gangat, Naseema

ABSTRACT:

Anemia in myeloid neoplasms is multifaceted, with heterogeneous pathogenetic mechanisms that include ineffective erythropoiesis, hepcidin‐induced iron‐restricted erythropoiesis, and abnormal inflammatory cytokine production. Current management of anemia is challenged by limited approved drugs that specifically treat anemia in myelofibrosis (MF) and myelodysplastic syndrome (MDS). Newer therapies target the transforming growth factor beta (TGF‐β)‐bone morphogenic protein/sons of mothers against decapentaplegic (BMP‐SMAD) signaling pathway, which plays a significant role in ineffective erythropoiesis (SMAD 2/3) and abnormal hepcidin production (SMAD 1/5/8). These include TGF‐β ligand traps (luspatercept, elritercept), activin A receptor type 1 (ACVR1)/activin receptor‐like kinase 2 (ALK2) inhibitors (momelotinib, zilurgisertib), and anti‐hemojuvelin antibody‐based therapies (DISC‐0974). Luspatercept and momelotinib are approved for anemia related to lower‐risk MDS and MF, respectively, and represent an important addition to the treatment armamentarium, along with imetelstat, a telomerase inhibitor, recently ratified for anemia in lower‐risk MDS. A promising strategy to overcome the limitations of existing anemia‐directed therapies includes the use of drug combinations with complementary mechanisms (luspatercept + erythropoiesis stimulating agents, luspatercept + momelotinib, DISC‐0974 + momelotinib), and harnessing the erythropoietic potential of sodium‐glucose co‐transporter‐2 inhibitors (SGLT‐2I). Future research should address the complex pathophysiology of anemia, standardize definitions for anemia with gender‐specified cutoffs, implement uniform erythroid response criteria, and consider early therapeutic intervention in clinical trials for anemia‐directed therapies.

01 Mar 2025·HEMATOLOGICAL ONCOLOGY

Managing Myelofibrosis: Matching Advances in Treatments With Clinical Unmet Needs

Review

Author: Chan, Tze Wei ; Than, Hein ; Billa, Gauri ; Huang, Feng‐Ju ; Lee, Lai Heng

ABSTRACT:

Myelofibrosis (MF) is characterized by anemia, constitutional symptoms, hepatosplenomegaly and bone marrow fibrosis, and is associated with poor survival. The janus kinase inhibitor (JAKi) ruxolitinib has been the mainstay of treatment for over a decade. Despite demonstrated symptomatic and quality of life improvement, unmet clinical needs persist. A literature review identified promising novel targeted treatment options in MF using pre‐set selection criteria (available Phase 2 or 3 data, minimum enrollment of 50 patients, trial end date within the last 5 years). Available data for novel and approved therapies were extracted, tabulated, and analyzed for clinical relevancy. From an initial shortlist of 48, 16 retained molecules were selected for inclusion. Other JAKi (pacritinib, momelotinib, jaktinib) address treatment‐related cytopenia, expanding the therapeutic utility of this class of agents to patients with baseline anemia or thrombocytopenia. Novel candidates exploit multiple molecular pathways, and offer the potential to improve the management of MF‐associated cytopenia (imetelstat, pelabresib, navitoclax, selinexor, luspatercept, sotatercept, elritercept, LCL161, bomedemstat) and recover bone marrow fibrosis (imetelstat, pelabresib, navitoclax and bomedemstat). It remains to be seen if these newer agents can induce any remission in MF and enable patients to come off therapy, but the future is beginning to look much brighter.

106

News (Medical) associated with Elritercept

09 Mar 2026

·www.biospace.com

Keros Therapeutics Announces Collaboration with Sean M. Healey & AMG Center for ALS

LEXINGTON, Mass., March 09, 2026 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (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 that it has entered into an agreement with the Massachusetts General Hospital (“MGH”) for the design of a Phase 2 clinical trial evaluating rinvatercept in patients with amyotrophic lateral sclerosis (“ALS”) within the Healey ALS MyMatch program (“ALS MyMatch”), led by the Sean M. Healey & AMG Center for ALS at Mass General Brigham. The collaboration is in response to the Healey & AMG Center’s call for applications for the ALS MyMatch program. The ALS MyMatch program is accelerating the development of new therapies for ALS by harnessing the power of biomarker-driven personalized trial approaches. By integrating comprehensive genetic and biofluid markers, the program matches subgroups of ALS individuals to various experimental therapies based on their disease markers. ALS MyMatch is an ongoing series of early-stage Phase 1b/2a clinical trials aimed at deepening the understanding of biological effects of experimental products and identifying the optimal population for future later-stage Phase 2/3 clinical trials. “We are proud to be selected to the ALS MyMatch program to collaborate with the Healey & AMG Center at Mass General,” said Jasbir S. Seehra, Ph.D., President and Chief Executive Officer of Keros. “Rinvatercept represents a potentially novel approach to treat patients with ALS. Based on the data we have generated to date, we believe there is a strong scientific rationale for the potential of rinvatercept to preserve muscle strength and function and improve quality of life in patients with ALS.” “ALS is a serious, progressive disorder with need of additional treatment options,” said Merit Cudkowicz, M.D., M.Sc., director of the Sean M. Healey & AMG Center for ALS, executive director of the Neuroscience Institute at Mass General Brigham, and the Julieanne Dorn Professor of Neurology at Harvard Medical School. “We look forward to partnering with Keros to evaluate rinvatercept within the ALS MyMatch program, bringing us closer to our goal of finding additional treatments for those battling ALS.” About Healey ALS MyMatch Healey ALS MyMatch is a multi-site, collaborative initiative that currently brings together four trial-ready, high enrolling ALS research centers and is a Network of Excellence for ALS (NEALS) affiliated program. Research centers include Mass General in Boston; University of Minnesota in Minneapolis, Minn.; Northwestern University in Evanston, Ill.; and Nova Southeastern University in Fort Lauderdale, Fla. ALS MyMatch has partnered with the Acceleration Centers of Enrollment (ACE) program, a community-driven philanthropic partnership program focused on expediting start up and recruitment at study centers. Additional trials and high performing sites will be added as the program grows. About the Sean M. Healey & AMG Center for ALS at Mass General Brigham The Sean M. Healey & AMG Center for ALS at Mass General Brigham, launched in 2018, brings together a global network of scientists, physicians, nurses, foundations, federal agencies and people living with ALS, their loved ones, and caregivers to accelerate the pace of ALS therapy discovery and development. About Rinvatercept Rinvatercept is a novel ligand trap comprised of a modified ligand-binding domain derived from activin receptor type IIA and activin receptor type IIB that is fused to the portion of the human antibody known as the Fc domain. Rinvatercept is designed to act as a ligand trap and inhibit the biological effects of myostatin and activin A, which are negative regulators of muscle and bone mass and strength, to improve skeletal muscle regeneration, increase muscle size and strength, inhibit and reduce fibrosis, inhibit inflammation, reduce fat accumulation and improve bone health through bone anabolic mechanisms. We are developing rinvatercept for the treatment of Duchenne muscular dystrophy and for the treatment of ALS. About Keros Therapeutics, Inc. Keros is 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 TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including skeletal muscle, bone, adipose, heart tissue and blood. By leveraging this understanding, Keros has discovered and is developing protein therapeutics that have the potential to provide meaningful and potentially disease-modifying benefit to patients. Keros’ lead product candidate, rinvatercept, is being developed for the treatment of Duchenne muscular dystrophy and for the treatment of ALS. Keros’ most advanced product candidate, elritercept, is being developed for the treatment of cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndrome and in patients with myelofibrosis. Cautionary Note Regarding Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “aim,” “believe,” “forward,” “goal,” “potential” or similar expressions are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: the potential of rinvatercept to preserve muscle strength and function and improve quality of life in patients with ALS. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Keros’ limited operating history and historical losses; Keros’ ability to raise additional funding to complete the development and any commercialization of its product candidates; Keros’ dependence on the success of its product candidates, rinvatercept and elritercept; that Keros may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; Keros’ ability to obtain, maintain and protect its intellectual property; and Keros’ dependence on third parties in connection with manufacturing, clinical trials and preclinical studies. These and other risks are described more fully in Keros’ filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K, filed with the SEC on March 4, 2026, and its other documents subsequently filed with or furnished to the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Keros undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Contacts Investor Contact: Justin Frantz jfrantz@kerostx.com 617-221-6042 Media Contact: Mahmoud Siddig / Adam Pollack / Viveca Tress Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449

Phase 2

05 Mar 2026

·www.biospace.com

Keros Therapeutics Reports Recent Business Highlights and Fourth Quarter and Full Year 2025 Financial Results

LEXINGTON, Mass., March 04, 2026 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (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 provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2025. “The previous year was an important period of transition for the Company, during which we sharpened our strategic priorities,” said Jasbir S. Seehra, Ph.D., President and Chief Executive Officer. “With that foundation in place, our attention is firmly on execution – advancing rinvatercept into a Phase 2 clinical trial in patients with Duchenne muscular dystrophy (“DMD”) and engaging regulators on the design of a Phase 2 clinical trial in patients with amyotrophic lateral sclerosis (“ALS”). With a strong foundation in place, our focus remains on bringing potential meaningful benefit to patients and creating long-term value for our stockholders.” Recent Corporate Highlights: Board and leadership changes: In February 2026, Keros announced the appointment of Charles Newton to its board of directors, effective March 9, 2026. Concurrent with Mr. Newton joining Keros’ Board of Directors, Carl Gordon, Ph.D., C.F.A., will step down as a director of the Company. Esther Cho, J.D., Senior Vice President, General Counsel, was promoted to Chief Legal Officer, effective February 24, 2026. Selected Anticipated Program Milestones: Rinvatercept for the treatment of DMD and for the treatment of ALS: The Company expects to commence a Phase 2 clinical trial of rinvatercept in patients with DMD in the second quarter of 2026. The Company plans to engage regulators on the design of a Phase 2 clinical trial of rinvatercept in patients with ALS in the second half of 2026. 2025 Financial Results Keros reported a net loss of $23.5 million for the fourth quarter and net income of $87.0 million for the year ended December 31, 2025, as compared to a net loss of $46.0 million for the fourth quarter and a net loss of $187.4 million for the year ended December 31, 2024. The decrease in net loss for the fourth quarter and the net income for the year was largely due to revenue related to Keros’ license agreement with Takeda Pharmaceuticals U.S.A., Inc. (“Takeda”), partially offset by research and development efforts as well as additional investments to support the achievement of Keros’ clinical and corporate goals. Research and development expenses were $17.9 million for the fourth quarter and $129.6 million for the year ended December 31, 2025, as compared to $45.6 million for the fourth quarter and $173.6 million for the year ended December 31, 2024. The decrease in research and development expenses for the fourth quarter and the year was primarily due to the transition of elritercept-related research and development expenses to Takeda. General and administrative expenses were $11.7 million for the fourth quarter and $46.8 million for the year ended December 31, 2025, as compared to $10.7 million for the fourth quarter and $40.8 million for the year ended December 31, 2024. The increase in general and administrative expenses for the year was primarily due to an increase in external expenses, partially offset by a decrease in compensation costs, including stock-based compensation costs, in connection with a reduction in headcount. Keros’ cash and cash equivalents as of December 31, 2025 was $287.4 million compared to $559.9 million as of December 31, 2024. The decrease in cash and cash equivalents for the year was primarily driven by Keros’ share repurchase with certain stockholders and cash tender offer. Based on current operating assumptions, Keros expects that its cash and cash equivalents as of December 31, 2025 will enable the Company to fund its planned operating expenses and capital expenditure requirements into the first half of 2028. About Keros Therapeutics, Inc. Keros is 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 TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including skeletal muscle, bone, adipose, heart tissue and blood. By leveraging this understanding, Keros has discovered and is developing protein therapeutics that have the potential to provide meaningful and potentially disease-modifying benefit to patients. Keros’ lead product candidate, rinvatercept, is being developed for the treatment of DMD and for the treatment of ALS. Keros’ most advanced product candidate, elritercept, is being developed for the treatment of cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndrome and in patients with myelofibrosis. Cautionary Note Regarding Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “anticipates,” “believes,” “continue,” “expects,” “enable,” “potential” and “will” or similar expressions are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: Keros’ expectations regarding its growth, strategy, progress and the design, objectives and timing of its clinical trials for rinvatercept, including its regulatory plans; and Keros’ expected cash runway. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Keros’ limited operating history and historical losses; Keros’ ability to raise additional funding to complete the development and any commercialization of its product candidates; Keros’ dependence on the success of its product candidates, rinvatercept and elritercept; that Keros may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; Keros’ ability to obtain, maintain and protect its intellectual property; and Keros’ dependence on third parties in connection with manufacturing, clinical trials and preclinical studies. These and other risks are described more fully in Keros’ filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q, filed with the SEC on November 5, 2025, and its other documents subsequently filed with or furnished to the SEC, including the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2025. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Keros undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Investor Contact: Justin Frantz jfrantz@kerostx.com 617-221-6042 Media Contact: Mahmoud Siddig / Adam Pollack / Brooks Hussey Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449 KEROS THERAPEUTICS, INC. Consolidated Statements of Operations (In thousands, except share and per share data) (Unaudited) THREE MONTHS ENDED DECEMBER 31, YEAR ENDED DECEMBER 31, 2025 2024 2025 2024 REVENUE: Service and other revenue 385 42 38,706 550 License revenue — 3,000 205,355 3,000 Total revenue 385 3,042 244,061 3,550 OPERATING EXPENSES: Research and development (17,912 ) (45,631 ) (129,643 ) (173,629 ) General and administrative (11,743 ) (10,665 ) (46,849 ) (40,754 ) Total operating expenses (29,655 ) (56,296 ) (176,492 ) (214,383 ) INCOME (LOSS) FROM OPERATIONS (29,270 ) (53,254 ) 67,569 (210,833 ) OTHER INCOME (EXPENSE), NET: Research and development incentive income — 1,238 — 1,238 Dividend income 4,022 6,519 24,867 23,496 Other income (expense), net 273 (229 ) (539 ) (954 ) Total other income, net 4,295 7,528 24,328 23,780 Income (loss) before income taxes (24,975 ) (45,726 ) 91,897 (187,053 ) Income tax provision 1,514 (300 ) (4,883 ) (300 ) Net income (loss) $ (23,461 ) $ (46,026 ) $ 87,014 $ (187,353 ) Net income (loss) attributable to common stockholders—basic and diluted $ (23,461 ) $ (46,026 ) $ 87,014 $ (187,353 ) Weighted-average common stock outstanding—basic 27,198,653 40,337,720 37,221,211 37,437,652 Weighted-average common stock outstanding—diluted 27,198,653 40,337,720 37,859,106 37,437,652 Net income (loss) per share of common stock — basic $ (0.86 ) $ (1.14 ) $ 2.34 $ (5.00 ) Net income (loss) per share of common stock — diluted $ (0.86 ) $ (1.14 ) $ 2.30 $ (5.00 ) KEROS THERAPEUTICS, INC. Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) DECEMBER 31, 2025 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 287,415 $ 559,931 Accounts receivable 3,567 2,742 Prepaid expenses and other current assets 22,202 26,220 Current income tax receivable 2,250 — Total current assets 315,434 588,893 Operating lease right-of-use assets 16,841 19,251 Property and equipment, net 4,297 4,237 Restricted cash 1,449 1,449 Other long term assets — 2,056 TOTAL ASSETS $ 338,021 $ 615,886 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 1,967 $ 4,602 Current portion of operating lease liabilities 2,408 1,978 Accrued expenses and other current liabilities 16,039 20,870 Total current liabilities 20,414 27,450 Operating lease liabilities, net of current portion 14,475 16,883 Total liabilities 34,889 44,333 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY: Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued and outstanding — — Series A junior participating preferred stock, par value of $0.0001 per share; 500,000 and no shares authorized as of December 31, 2025 and December 31, 2024, respectively; no shares issued and outstanding — — Common stock, par value of $0.0001 per share; 200,000,000 authorized as of December 31, 2025 and December 31, 2024; 40,670,466 issued and 19,543,706 outstanding as of December 31, 2025 and 40,554,705 shares issued and outstanding as of December 31, 2024 4 4 Treasury stock, at cost; 21,126,760 and no shares as of December 31, 2025 and December 31, 2024, respectively (384,558 ) — Additional paid-in capital 1,169,451 1,140,328 Accumulated deficit (481,765 ) (568,779 ) Total stockholders’ equity 303,132 571,553 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 338,021 $ 615,886

Phase 2Financial StatementExecutive Change

26 Feb 2026

·www.biospace.com

Keros Therapeutics Appoints Charles Newton to its Board of Directors

LEXINGTON, Mass., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Keros Therapeutics, Inc. (“Keros” or the “Company”) (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 appointment of Charles Newton to its Board of Directors, effective March 9, 2026. “We are pleased to welcome Mr. Newton to Keros’ Board of Directors,” said Jean-Jacques Bienaimé, Chair of the Board of Directors. “His extensive expertise in healthcare finance and capital markets, coupled with his track record of helping companies navigate through key value inflection points in their clinical programs, will be highly complementary to the Board’s existing skillsets. As we continue to advance our pipeline, his perspective will be invaluable in supporting disciplined execution and positioning the Company for long-term growth and value creation.” “I am thrilled to join Keros’ Board and leverage my experience helping biotechnology companies through critical growth to oversee the Company’s next phase of clinical development for rinvatercept (KER-065),” said Mr. Newton. “I look forward to collaborating with the Board and executive team to support the Company’s strategic priorities and continue advancing its mission of delivering meaningful and potentially disease-modifying benefits to patients.” Mr. Newton served as the Chief Financial Officer of Lyell Immunopharma, Inc. from February 2021 until his retirement from Lyell in September 2025. Prior to Lyell, he served as Managing Director and Co-Head of Healthcare Investment Banking in the Americas at Bank of America. Earlier in his career, he served as Managing Director and Co-Head of Healthcare Investment Banking in the Americas at Credit Suisse, Managing Director and Head of Western Region Healthcare Investment Banking at Morgan Stanley and as a Corporate Finance Analyst at Lehman Brothers. Mr. Newton currently serves as a board member at Novavax, Inc. and Coherus Oncology, Inc. and previously served on the board of directors of 2seventy bio, Inc. until their acquisition by Bristol Myers Squibb, and Carmot Therapeutics, until their acquisition by Roche. Mr. Newton holds a B.S. in Finance from Miami University and an M.B.A. from The Tuck School at Dartmouth College. Concurrent with Mr. Newton joining Keros’ Board of Directors, the Company also announced that Carl Gordon, Ph.D., CFA, will be stepping down as a director of the Company, effective March 9, 2026. President and Chief Executive Officer Jasbir Seehra, Ph.D., commented, "On behalf of the Board and executive team, we thank Carl for his outstanding service and contributions to the Keros Board. We wish him well in his future endeavors." About Keros Therapeutics, Inc. Keros is 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 TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including blood, bone, skeletal muscle, adipose and heart tissue. By leveraging this understanding, Keros has discovered and is developing protein therapeutics that have the potential to provide meaningful and potentially disease-modifying benefit to patients. Keros’ lead product candidate, rinvatercept, is being developed for the treatment of Duchenne muscular dystrophy and for the treatment of amyotrophic lateral sclerosis. Keros’ most advanced product candidate, elritercept, is being developed for the treatment of cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndrome and in patients with myelofibrosis. Cautionary Note Regarding Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “continue,” “potential” and “will” or similar expressions are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: Keros’ expectations regarding the further advancement of its pipeline; and the expected contributions of Mr. Newton. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Keros’ limited operating history and historical losses; Keros’ ability to raise additional funding to complete the development and any commercialization of its product candidates; Keros’ dependence on the success of its product candidates, rinvatercept and elritercept; that Keros may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; Keros’ ability to obtain, maintain and protect its intellectual property; and Keros’ dependence on third parties in connection with manufacturing, clinical trials and preclinical studies. These and other risks are described more fully in Keros’ filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q, filed with the SEC on November 5, 2025, and its other documents subsequently filed with or furnished to the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Keros undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Contacts Investor Contact: Justin Frantz jfrantz@kerostx.com 617-221-6042 Media Contact: Mahmoud Siddig / Adam Pollack / Viveca Tress Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449

Executive ChangeAcquisition

100 Deals associated with Elritercept

R&D Status

10 top R&D records.

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Indication	Highest Phase	Country/Location	Organization	Date
Anemia	Phase 3	Japan	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Argentina	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Belgium	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Greece	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Malaysia	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Mexico	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Netherlands	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Norway	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Anemia	Phase 3	Romania	Takeda Pharmaceutical Co., Ltd.	01 Apr 2026
Myelodysplastic Syndromes	Phase 3	United States	Takeda Pharmaceutical Co., Ltd.	06 May 2025

Clinical Result

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Study	Phase	Population	Analyzed Enrollment	Group	Results	Evaluation	Publication Date


NCT05037760 (RESTORE, ASH2025)	Phase 2	Myelofibrosis	38	Elritercept + ruxolitinib	qvphjmnkyc(oabsvwogwo) = The most common adverse events (AEs) were diarrhea (18.4%, all grade 1/2; median duration 5.5 days) and thrombocytopenia (13.2%, grade 3 in 10.5%). No pts discontinued elritercept due to an AE. ctaxjymunv (zwzsjyaxon )	Positive	06 Dec 2025
NCT04419649 (ASH2025)	Phase 2	SF3B1	78	Elritercept	rgnnkrrohk(heepfcqawr) = cpnqufatkt euiicqczkb (tanxfepthq ) View more	Positive	06 Dec 2025
NCT05037760 (RESTORE, EHA2025)	Phase 2	Myelofibrosis	73	Elritercept monotherapy	keyisnkbxg(pfwqldirln) = An asymptomatic Hgb increase in one participant required dose reduction per protocol and was deemed a dose-limiting toxicity gpyjsymydh (prubxoijyg ) View more	Positive	14 May 2025
NCT05037760 (RESTORE, EHA2025)	Phase 2	Myelofibrosis	73	Elritercept + Ruxolitinib combination therapy		Positive	14 May 2025
NCT04419649 (Phase 2 trial, EHA2025)	Phase 2	Myelodysplastic Syndromes	95	Elritercept 3.75-5 mg/kg	dxxpplngbp(dkerswsbfr) = Observed differences in FACT-An total score for TI≥24 wks responders vs non-responders were driven by greater improvements for responders in the Anemia subscale (AnS), especially the FACIT-Fatigue component. Improvements were observed across FACIT-Fatigue items including those related to both fatigue experience and impact. Moreover, FACIT-Fatigue scores improved over time in TI≥24 wks responders as did the proportion of participants with improvements meeting or exceeding the MCID fkwcbddmeh (jtlokaqota )	Positive	14 May 2025
NCT04419649 (PF635, EHA2025)	Phase 2	Myelodysplastic Syndromes non-RS	15	Elritercept	uvzljxmagp(wwvltkhqla) = wlmwjekbaf csgmciquzx (lperxmrsdc, 190 - 1632) View more	Positive	14 May 2025
PB2774 (EHA2025)	Phase 1/2	Myelodysplastic Syndromes	770	Rigosertib	crmwfwgpcw(mwanssntep) = mcfybvcmoh aqprxmqzvr (ucouaebhfw, 0.012 - 0.039) View more	Positive	14 May 2025
NCT05037760 (RESTORE, ASH2024) Manual	Phase 2	Myelofibrosis	54	Elritercept monotherapyElritercept monotherapy	dcqeivrwjy(pyyqvwaltv) = danyldhgxr dkppqxxzuw (fkemgbbgak ) View more	Positive	09 Dec 2024
NCT05037760 (RESTORE, ASH2024) Manual	Phase 2	Myelofibrosis	54	Elritercept + Ruxolitinib	dcqeivrwjy(pyyqvwaltv) = yeeznwqzjb dkppqxxzuw (fkemgbbgak ) View more	Positive	09 Dec 2024
NCT04419649 (ASH2024) Manual	Phase 2	myelodysplastic anemia	15	Elritercept (Non-Transfusion Dependent)	qsowsazsjj(tbpkoklile) = sghfptxmgn jngktnqock (sekhezkege ) View more	Positive	09 Dec 2024
ASH2024	Not Applicable	Myelodysplastic Syndromes	-	Elritercept 3.75-5 mg/kg	zoclfheizq(hbkaphupgv) = usomfgvcmu zwqprgzvup (pdxkhsvkgc ) View more	-	07 Dec 2024
NCT05037760 (RESTORE, Biospace) Manual	Phase 2	Myelofibrosis	54	elritercept with or without ruxolitinib	igqfclvefl(lbpjdwlnqc) = eqoxfesaml ddvyrmayta (hvuynvdklv ) View more	Positive	17 Jun 2024
NCT05037760 (RESTORE, Biospace) Manual	Phase 2	Myelofibrosis	54	elritercept with or without ruxolitinib (3.0 mg/kg of elritercept or higher in combination with ruxolitinib)	ssodfusfup(eiipwjntyg) = ttncvafkyr wwuzlidfvp (zdzvkdlkhx ) View more	Positive	17 Jun 2024

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