Quarterly results are not a catalyst — KROS trades on pipeline milestones, not revenue or EPS. The key catalyst to monitor is initial Phase 2 rinvatercept DMD data expected in H1 2027. With $257.6M cash and runway into 2028, the stock is well-capitalized for its current clinical plan. No guidance was provided; the sole financial signal is the cash-burn trajectory.
Price Chart
Executive Summary
Keros Therapeutics reported Q2 2026 net loss of $28.7M (EPS -$1.45), missing consensus EPS of -$1.24 and zero revenue vs $706K estimate, as prior-year Takeda license revenue did not recur. The pre-revenue clinical-stage biotech initiated its Phase 2 DMD trial for rinvatercept and maintains $257.6M cash with runway into H1 2028. The quarter is routine — the stock will trade on pipeline catalysts, not financials.
Key Financial Metrics
Key Facts
- Net loss of $28.7M for Q2 2026 vs $30.7M in Q2 2025
- Zero revenue vs $18.2M in Q2 2025 (prior year included Takeda license revenue)
- EPS of -$1.45 (consensus -$1.24) — 16.9% miss on a tiny pre-revenue base
- Phase 2 DMD trial for rinvatercept initiated; initial data expected H1 2027
- Cash and equivalents $257.6M, down from $287.4M at Dec 2025
- Cash runway into first half of 2028 at current burn rate
- Weighted-average diluted shares fell to 19.8M from 40.6M a year ago (post-restructuring share count)
Financial Impact
Net loss of $28.7M with operating spend reduction; cash burn ~$30M in Q2 2026 vs $61M in Q2 2025 (prior year included Takeda-related costs). Cash position $257.6M provides ~2-year runway.
Risk Factors
- Pre-revenue clinical-stage company with no approved products
- Phase 2 DMD trial results are binary and not expected until H1 2027
- Cash burn rate will continue; dependency on future financing or partnerships
- EPS miss mechanically amplified by post-restructuring share count reduction
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3337854 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 8, 2026 23d ago | 8-K | $11.31 $11.04 | ▼ −2.39% | ▼ −2.05% | $11.17 (−1.24%) |
Aug 20, 2026 6w ago | Insider Cluster | $10.95 $11.23 | ▲ +2.56% | ▲ +1.44% | $11.17 (+2.01%) |
Aug 3, 2026 8w ago | 8-K | $10.25 $10.64 | ▲ +3.80% | ▲ +3.90% | $11.17 (+8.98%) |
Aug 3, 2026 8w ago | Press Release | $10.25 $10.64 | ▲ +3.80% | ▲ +3.90% | $11.17 (+8.98%) |
Jul 30, 2026 9w ago | 8-K | $10.07 $11.15 | ▲ +10.72% | ▲ +7.21% | $11.17 (+10.92%) |
Jul 22, 2026 10w ago | 8-K | $10.14 $10.22 | ▲ +0.79% | ▲ +0.31% | $11.17 (+10.16%) |
Jun 17, 2026 15w ago | Insider Cluster | $10.65 $10.41 | ▼ −2.25% | ▼ −0.59% | $11.17 (+4.88%) |
Jun 8, 2026 16w ago | Insider Cluster | $10.07 $10.24 | ▲ +1.69% | ▼ −0.72% | $11.17 (+10.92%) |
May 14, 2026 20w ago | 8-K | $10.99 $11.22 | ▼ −2.09% | ▼ −2.81% | $11.17 (−1.64%) |
May 14, 2026 20w ago | Press Release | $10.99 $11.22 | ▼ −2.09% | ▼ −2.81% | $11.17 (−1.64%) |
US Market Status
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