Keros' Largest Stockholder, ADAR1, Announces Intention to Withhold Votes for Directors Dr. Mary Ann Gray and Dr. Alpna Seth At The Upcoming Keros Annual Meeting Of Stockholders On June 4, 2025

Author: Benzinga Newsdesk | May 08, 2025 02:15pm

Announces Intention to Withhold Votes for Directors Dr. Mary Ann Gray and Dr. Alpna Seth

AUSTIN, Texas, May 8, 2025 /PRNewswire/ -- ADAR1 Capital Management, LLC (together with its affiliates, "ADAR1"), the largest stockholder of Keros Therapeutics (NASDAQ:KROS) ("Keros" or the "Company") with approximately 13.3% of the Company's outstanding shares, today released a public letter to fellow Keros stockholders outlining its concerns with the Company's capital allocation decisions, strategic direction, and prolonged underperformance.

 

In the letter, ADAR1 details the Company's alarming clinical results for two of its three drug candidates — KER-012 and KER-065 — and expresses serious concern that continued investment in these programs risks further shareholder value destruction. ADAR1 calls for Keros to restructure the business, significantly reduce headcount, return excess capital to stockholders, and ensure the Takeda licensing partnership is managed to maximize value for investors.

Given its loss of confidence in the Company's management and Board of Directors, ADAR1 announced its intention to "WITHHOLD" votes on the re-election of Dr. Mary Ann Gray and Dr. Alpna Seth at Keros' upcoming Annual Meeting of Stockholders, scheduled to be held on June 4, 2025.

Posted In: KROS