Keros Therapeutics (KROS) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Lead asset KER-012 in PAH

• KER-012 aims to improve on sotatercept by avoiding increases in red blood cells, potentially offering greater efficacy and a better safety profile, including reduced bleeding risk.

• Clinical evidence links BMP inhibition to bleeding events, with KER-012 designed to spare BMPs and lower this risk.

• Phase I data show KER-012 achieves similar target engagement as sotatercept without increasing hemoglobin.

• Efficacy is believed to be driven by Cmax, while safety is linked to trough levels, with KER-012's shorter half-life potentially reducing stem cell depletion.

• Phase II trial is nearing enrollment completion, with endpoints and criteria aligned to industry standards; longer-term data will further clarify safety differentiation.

Competitive landscape and future plans

• KER-012's phase III enrollment will focus on non-US patients due to market access dynamics, with some US enrollment possible.

• Potential applications for KER-012 extend to fibrotic lung disease and heart failure, with particular promise in fibrosis based on emerging data.

Pipeline updates: KER-050 in MDS and MF

• KER-050 shows higher response rates in high transfusion burden MDS patients compared to luspatercept, with benefits in both red blood cells and platelets.

• Quality of life improvements are observed with KER-050, attributed to its anti-inflammatory mechanism.

• Upcoming updates will focus on durability of response in MDS and continued improvements in cytopenias and spleen size in MF, with pivotal data expected in 2025.