PPD - U.S. IPO Weekly Recap: Keros Therapeutics Rises 35% As Biotechs Beat The IPO Shutdown
Another biotech IPO has beaten the market blues. Keros Therapeutics (KROS) finished the week up 35%, affirming that the biotech industry won't be deterred by current market volatility.
Oncology biotech Keros Therapeutics priced its upsized IPO at the high end to raise $96 million at a $325 million fully diluted market cap (+12% vs. original midpoint). The company priced its IPO at a 19% premium to its last capital raise in March 2020, and it believes its cash balance of $149 million will last into the 2H22. Keros' lead candidate, KER-050, is beginning a Phase