Company: KROS
Filing Date: 2025-04-11
Form Type: SCHEDULE 13D
Source: 0001104659-25-034310
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Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-11
Form: SCHEDULE 13D
Chunk 0
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 As a result of those concerns, the Reporting Persons have strongly urged the Issuer and its management and board of directors (the "Board") to consider operational and strategic opportunities to maximize shareholder value, including, without limitation, to consider: (i) instituting an accelerated share buyback or tender offer by the Issuer to boost the NAV per share, (ii) implementing a significant reduction in force of seventy percent to minimize cash burn, (iii) pursuing strategic alternatives, including the potential sale of the Company, outlicensing or divesting KER-012, KER-065 or monetization of Takeda royalties and milestones and/or (iv) if attractive strategic alternatives do not materialize quickly, initiation of liquidation proceedings and a reduction of the annual cash burn to less than $3 million. The Reporting persons believe that via systematic accretive buybacks, tender offers and dividends the Issuer could ultimately to deliver between $40 and $50 per share for shareholders who remain invested through the potential approval and launch of Elritercept. The Reporting Persons may pursue other plans or proposals that relate to or could result in any of the matters set forth in clauses (a)-(j) of Item 4 of Schedule 13D. 
 The Reporting Persons intend to have a dialog with the Issuer's management regarding the above and may also speak with members of the Board, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other third parties with respect to the above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 On April 10, 2025, the Issuer made its first public announcement that it adopted a rights plan on April 9, 2025. Since the first public announcement of such adoption of such rights plan and as of the time of filing this Schedule 13D, the Reporting Persons have not become the beneficial owner, as determined under such rights plan, of any additional shares of Common Stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer's financial position, results and strategic direction, actions taken by the Issuer's management and the Board, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the