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KEROS THERAPEUTICS Keros Therapeutics Reports Recent Business Highlights and Second Quarter 2021 Financial Results August 5 , 2021 8:01 PM EDT LEXINGTON , Mass . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Keros Therapeutics , Inc. ( " Keros " or the " Company " ) ( Nasdaq : KROS ) , a clinical - stage biopharmaceutical company focused on the discovery , development and commercialization of novel treatments for patients suffering from hematological and musculoskeletal disorders with high unmet medical need , today provided a business update and reported financial results for the quarter ended June 30 , 2021 . " We have made substantial progress over the past quarter , including announcing our preliminary results from our Phase 2 clinical trial of KER - 050 , " said Jasbir S. Seehra , Ph.D. , President and Chief Executive Officer . " We continue to make notable progress advancing our pipeline , and remain focused on the execution of our near - term development plans . In that regard , we remain on track to initiate several clinical trials for KER - 050 , KER - 047 and KER - 012 over the balance of 2021. " Recent Corporate Highlights : • Executive leadership changes : In August 2021 , the Company announced that Simon Cooper , M.B.B.S. , has been appointed to serve as the Company's Chief Medical Officer , effective as of August 2 , 2021. Dr. Cooper succeeded Claudia Ordonez , M.D. , who departed from the Chief Medical Officer position effective July 30 , 2021. Dr. Ordonez will provide consulting services to the Company until September 15 , 2021 . • Issuance of Keros foundational U.S. patent : In May 2021 , the United States Patent and Trademark Office issued U.S. Patent No. 11,013,785 , which is a composition of matter patent directed to novel therapeutic proteins , including KER - 050 , that contains 20 claims and expires in November 2037 . Recent Program Highlights : • KER - 050 for the treatment of ineffective hematopoiesis to address cytopenias o In June 2021 , Keros announced preliminary results from Cohorts 1 and 2 ( 0.75 mg / kg and 1.5 mg / kg ) of Part 1 of its Phase 2 clinical trial evaluating KER - 050 in patients with myelodysplastic syndromes . Following Safety Review Committee recommendation , dosing for Cohort 3 of the trial was initiated at 2.5 mg / kg of KER - 050 , to be administered once every four weeks for 12 weeks . o The Company expects to report additional Part 1 data and initiate Part 2 of the trial by the end of 2021 . Second Quarter 2021 Financial Results Keros reported a net loss of $ 15.6 million in the second quarter of 2021 as compared to a net loss of $ 10.8 million in the second quarter of 2020. The increase in net loss for the second quarter was largely due to increased research and development efforts as well as additional infrastructure expenses to support our operations as a publicly traded company . Research and development expenses were $ 10.0 million for the second quarter of 2021 as compared to $ 7.3 million for the same period in 2020. The increase of $ 2.7 million was primarily due to additional research and development efforts , manufacturing activities , and personnel expenses to support the advancement of our pipeline . General and administrative expenses were $ 5.7 million for the second quarter of 2021 as compared to $ 3.7 million for the same period in 2020. The increase of $ 2.0 million was primarily due to increase in personnel expenses and other external expenses to support Keros ' organizational growth . Keros ' cash and cash equivalents as of June 30 , 2021 was $ 237.1 million compared to $ 265.9 million as of December 31 , 2020. Keros expects that the cash and cash equivalents it had on hand at June 30 , 2021 will fund its operating expenses and capital expenditure requirements into the fourth quarter of 2023 . About Keros Therapeutics , Inc. Keros is a clinical - stage biopharmaceutical company focused on the discovery , development and commercialization of novel treatments for patients suffering from hematologic and musculoskeletal disorders with high unmet medical need . Keros is a leader in understanding the role of the