Recent News
June 1, 2026 — Keros announced that President and CEO Jasbir Seehra will present in a fireside chat at the Goldman Sachs 47th Annual Global Healthcare Conference on June 8, 2026. June 25, 2026 — Keros named Anne Prener, M.D., Ph.D., to its Board of Directors effective July 1, 2026. July 30, 2026 — Keros said it will receive a $20.0 million development milestone payment from partner Takeda following first-patient dosing in the ELRiSE MDS trial. July 17–22, 2026 (filed) — The company recorded the resignation of CFO Keith Regnante, effective August 3, 2026. August 3–4, 2026 — Keros issued second-quarter 2026 financial results covering the period ended June 30, 2026.
Technical Analysis
Directional indicators (ADX/DI+/DI-): ADX registers 21.47, indicating an emerging trend rather than a strong directional move; DI+ registers 20.56 with a peak-and-reversal, which reads as bearish pressure, while DI- at 14.02 and decreasing signals some diminishing downside momentum. Together, directional signals favor near-term range work with a bias toward retracement against longer-term averages.
MACD and signal: MACD sits at -0.04 versus a signal of -0.08, producing a recent cross above the signal line that constitutes a short-term bullish trigger; concurrently the MACD_trend shows a peak-and-reversal, which signals momentum rolling lower and increases the likelihood of mean reversion toward moving averages.
MRO (Momentum/Regression Oscillator): MRO reads -3.37 with an increasing trend. The negative MRO places price below the target and therefore implies modest upside potential back toward the modeled target; the small absolute value suggests that any upside from momentum alone likely remains limited.
RSI and momentum: RSI measures 47.1 with a peak-and-reversal, which indicates loss of recent upside conviction and favors further consolidation or pullback rather than fresh advance above short-term resistance.
Price vs moving averages and bands: Closing price at $10.10 sits below the 20-day average $10.41 and 50-day average $10.61, and well below the 200-day average $14.04, signaling pressure relative to longer-term trend. Price occupies the lower half of the 1x Bollinger band band (lower $9.94, upper $10.88) and rests just above the superTrend lower at $9.82, making that band and the $9.82 level the nearest technical support confluence. Volume at 315,067 outpaced the 10-day average 249,537, indicating above-normal activity during the latest session but remaining below the 200-day average.
Fundamental Analysis
Profitability and earnings: Net income for the period ended June 30, 2026 registers a loss of $28,710,000 and EBIT of $-30,937,000; EPS arrived at $-1.45 versus an estimate of $-1.24, producing an EPS surprise of -16.94%. Negative operating cash flow totaled $27,985,000 and free cash flow measured $-20,576,000 for the period.
Liquidity and capital structure: Cash and short-term investments stood at $257,606,000 as of 2026-06-30, down $23,891,000 from the beginning cash balance; the current ratio reads 21.96 and the cash ratio reads 21.20, reflecting a large liquidity cushion. Total debt runs $15,724,000, debt-to-assets at 5.47% and debt-to-equity at 5.99%, showing a low leverage profile.
Revenue and spending trends: YoY revenue growth contracted by 94.89%, while sequential revenue reads about -4.68% year-over baseline movement; research and development expense dropped to $22.33 million for the quarter from $43.5 million a year earlier, consistent with program transitions to partners. Earnings growth reported at 19.84% on a headline basis, though quarterly and yearly growth metrics show volatility (earnings growth QoQ -51.26%, YoY -116.39%).
Valuation metrics and peer context: Price-to-book stands at 0.8326 while book value equals $13.23 per share; the company’s P/B lies well below the industry peer mean of 8.38626 and industry peer median of 6.33402. Enterprise value registers negative $23,487,903 with an enterprise multiple of 0.76921, driven by net cash that exceeds market capitalization ($257.6M cash vs $218.4M market cap). Free cash flow yield reads -9.42% and forward EPS remains negative at $-1.65, producing a forward PE of -7.15. WMDST values the stock as over-valued, reflecting the persistence of operating losses and limited revenue traction despite a strong cash position.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-03 |
| NEXT REPORT DATE: | 2026-11-02 |
| CASH FLOW | Begin Period Cash Flow | $ 282.9 M |
| Operating Cash Flow | $ -27.98 M | |
| Capital Expenditures | $ -155.00 K | |
| Change In Working Capital | $ 1.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -23.89 M | |
| End Period Cash Flow | $ 259.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 402.0 K | |
| Depreciation and Amortization | $ 402.0 K | |
| Research and Development | $ 22.3 M | |
| Total Operating Expenses | $ 30.9 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -30.54 M | |
| EBIT | $ -30.94 M | |
| Operating Income | $ -30.94 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ -28.71 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -28.71 M | |
| Net Income From Continuing Operations | $ -28.71 M | |
| EARNINGS | ||
| EPS Estimate | $ -1.24 | |
| EPS Actual | $ -1.45 | |
| EPS Difference | $ -0.21 | |
| EPS Surprise | -16.935 % | |
| Forward EPS | $ -1.65 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 287.6 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 262.3 M | |
| Total Current Assets | $ 266.9 M | |
| Cash and Short-Term Investments | $ 257.6 M | |
| Cash | $ 257.6 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 1.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.8 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 12.2 M | |
| Net Debt | — | |
| Total Debt | $ 15.7 M | |
| Total Liabilities | $ 25.3 M | |
| EQUITY | ||
| Total Equity | $ 262.3 M | |
| Retained Earnings | $ -534.18 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 13.23 | |
| Shares Outstanding | 19.827 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 218.4 M |
| Enterprise Value | $ -23.49 M | |
| Enterprise Multiple | 0.769 | |
| Enterprise Multiple QoQ | 40.16 % | |
| Enterprise Multiple YoY | -65.49 % | |
| Enterprise Multiple IPRWA | high: 148.972 median: 38.141 mean: 19.86 KROS: 0.769 low: -178.99 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.096 | |
| Asset To Liability | 11.377 | |
| Debt To Capital | 0.057 | |
| Debt To Assets | 0.055 | |
| Debt To Assets QoQ | 4.672 % | |
| Debt To Assets YoY | 130.578 % | |
| Debt To Assets IPRWA | high: 0.833 mean: 0.281 median: 0.223 KROS: 0.055 low: 0.0 |
|
| Debt To Equity | 0.06 | |
| Debt To Equity QoQ | 4.955 % | |
| Debt To Equity YoY | 135.984 % | |
| Debt To Equity IPRWA | high: 1.719 mean: 0.307 median: 0.098 KROS: 0.06 low: -0.777 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.833 | |
| Price To Book QoQ | -5.336 % | |
| Price To Book YoY | 0.694 % | |
| Price To Book IPRWA | high: 18.326 mean: 8.386 median: 6.334 KROS: 0.833 low: -9.25 |
|
| Price To Earnings (P/E) | -7.596 | |
| Price To Earnings QoQ | -27.797 % | |
| Price To Earnings YoY | -59.273 % | |
| Price To Earnings IPRWA | high: 160.554 median: 40.973 mean: 20.569 KROS: -7.596 low: -176.575 |
|
| PE/G Ratio | -0.383 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -7.153 | |
| Forward PE/G | -0.361 | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 564.313 median: 244.94 mean: 168.335 KROS: 0 low: -329.732 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.386 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 262.3 M | |
| Net Invested Capital | $ 262.3 M | |
| Invested Capital | $ 262.3 M | |
| Net Tangible Assets | $ 262.3 M | |
| Net Working Capital | $ 254.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 21.197 | |
| Current Ratio | 21.96 | |
| Current Ratio QoQ | -2.897 % | |
| Current Ratio YoY | 4.007 % | |
| Current Ratio IPRWA | high: 31.351 KROS: 21.96 mean: 4.797 median: 3.163 low: 0.34 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.515 | |
| Cost Of Debt | 0.059 % | |
| Interest Coverage Ratio | -3093.7 | |
| Interest Coverage Ratio QoQ | 19.554 % | |
| Interest Coverage Ratio YoY | -22.302 % | |
| Interest Coverage Ratio IPRWA | high: 533.0 mean: 42.178 median: 2.337 low: -1501.103 KROS: -3093.7 |
|
| Operating Cash Flow Ratio | -2.303 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.907 % | |
| Revenue Growth | -4.675 % | |
| Revenue Growth QoQ | -0.0 % | |
| Revenue Growth YoY | -94.885 % | |
| Revenue Growth IPRWA | high: 278.717 % mean: 15.344 % median: 11.617 % KROS: -4.675 % low: -242.388 % |
|
| Earnings Growth | 19.835 % | |
| Earnings Growth QoQ | -51.263 % | |
| Earnings Growth YoY | -116.393 % | |
| Earnings Growth IPRWA | high: 185.714 % KROS: 19.835 % median: 13.636 % mean: 10.746 % low: -220.0 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -20.58 M | |
| Free Cash Flow Yield | -9.422 % | |
| Free Cash Flow Yield QoQ | 557.043 % | |
| Free Cash Flow Yield YoY | 81.437 % | |
| Free Cash Flow Yield IPRWA | high: 13.067 % median: 0.852 % mean: 0.546 % KROS: -9.422 % low: -26.527 % |
|
| Free Cash Growth | 471.238 % | |
| Free Cash Growth QoQ | -642.488 % | |
| Free Cash Growth YoY | -496.355 % | |
| Free Cash Growth IPRWA | KROS: 471.238 % high: 175.34 % mean: 20.27 % median: 1.424 % low: -249.171 % |
|
| Free Cash To Net Income | 0.717 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 0.975 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -9.572 % | |
| Return On Assets QoQ | 31.285 % | |
| Return On Assets YoY | 140.382 % | |
| Return On Assets IPRWA | high: 20.575 % median: 0.317 % mean: -4.025 % KROS: -9.572 % low: -44.847 % |
|
| Return On Capital Employed (ROCE) | -11.232 % | |
| Return On Equity (ROE) | -0.109 | |
| Return On Equity QoQ | 31.867 % | |
| Return On Equity YoY | 152.015 % | |
| Return On Equity IPRWA | high: 0.462 median: 0.006 mean: -0.103 KROS: -0.109 low: -0.887 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |