Keros Therapeutics (KROS) investor relations material

Company overview and business model

• Clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional TGF-β signaling for disorders affecting muscle, bone, heart, and blood.

• Lead candidates include rinvatercept (for Duchenne muscular dystrophy and ALS) and elritercept (for cytopenias in myelodysplastic syndromes and myelofibrosis).

• Exclusive license agreement with Takeda for elritercept outside China, Hong Kong, and Macau, effective January 2025.

Financial performance and metrics

• Net tangible book value as of June 30, 2026: $262.3 million ($13.23 per share).

• After offering, as adjusted net tangible book value would be $360.6 million ($12.58 per share).

• Immediate accretion of $1.27 per share to new investors at the assumed offering price.

Use of proceeds and capital allocation

• Proceeds intended for operations, general corporate purposes, repayment/refinancing of debt, repurchases/redemption of securities, working capital, IP protection, capital expenditures, clinical trial and R&D expenses, and G&A expenses.

• May use a portion for in-licensing, investments, or acquisitions, though no current commitments exist.

• Pending use, proceeds will be invested in short-term, investment-grade instruments and U.S. government securities.