The revenue collapse and EPS miss confirm Keros is a pre-revenue clinical-stage biotech with no approved products. The Takeda partnership provides a potential catalyst but no near-term revenue. Monitor for elritercept Phase 3 data and any pipeline updates; the cash runway provides a floor but the stock is likely to trade on binary trial outcomes.
Price Chart
Executive Summary
Keros Therapeutics reported Q1 2026 EPS of -$1.21, a 31.5% miss vs consensus of -$0.92, and revenue of $0.367M, 78.4% below the $1.7M estimate. The net loss of $23.7M compares to net income of $148.5M in Q1 2025, driven by the absence of Takeda license revenue and reduced R&D spend. Cash runway extends into H1 2028, but the revenue collapse and EPS miss signal a pre-commercial biotech with no near-term catalysts beyond Takeda's Phase 3 plans.
Key Financial Metrics
Key Facts
- Q1 2026 EPS of -$1.21 missed consensus of -$0.92 by 31.5%
- Q1 2026 revenue of $0.367M missed consensus of $1.7M by 78.4%
- Net loss of $23.7M vs net income of $148.5M in Q1 2025
- Revenue collapsed 99.8% YoY due to absence of Takeda license revenue
- Cash and equivalents $281.5M, expected runway into H1 2028
- Takeda plans Phase 3 trial for elritercept in myelofibrosis anemia
- Weighted-average shares outstanding fell to 19.6M from 40.6M YoY due to treasury stock
Financial Impact
EPS miss of $0.29 (31.5%) and revenue miss of $1.33M (78.4%) on a $237M market cap
Risk Factors
- No approved products or recurring revenue stream
- Dependence on Takeda partnership for elritercept development
- Clinical trial failure risk for rinvatercept and elritercept
- Dilution risk from potential future equity offerings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294851 |
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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