Keros rises after blood cancer drug license deal with Takeda

Keros Therapeutics

03/12/2024 15:56

** Drug developer Keros Therapeutics'  KROS.O  shares rise
3.6% to $58.78
    ** KROS says it entered into a global license agreement with
Takeda  4502.T  for experimental drug elritercept
    ** Elritercept is being developed to treat low blood cell
counts in patients with myelodysplastic syndrome and
myelofibrosis, which are blood cancers 
    ** KROS to receive $200 mln upfront and potentially over
$1.1 bln in milestone payments from Takeda
    ** Upfront payment will extend KROS' operational runway into
Q4 2028, co says
    ** Brokerage Truist Securities believes the partnership
eases concerns about KROS’s ability to commercialize in
different areas
    ** Brokerage Guggenheim Securities says the partnership
allows Keros to focus on the development of cibotercept for the
treatment of pulmonary arterial hypertension
    ** The agreement excludes commercialization in mainland
China, Hong Kong, and Macau
    ** All 15 brokerages rate the stock "buy" or higher; their
median PT is $92 - LSEG
    ** Including session's gains, stock has risen 43.4% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))