Why Shares of Keros Therapeutics Rose 10.2% This Week
Shares of clinical-stage biopharmaceutical company Keros Therapeutics (NASDAQ: KROS) rose 10.2% this past week, according to data from S&P Global Intelligence. The stock closed at $39.87 last Friday. It opened on Monday at $40.66, then rose to $47.06 on Friday before falling a little bit at the close on Friday at $43.93. The stock has a 52-week low of $24.38 and a 52-week high of $68.29. The company's shares are down more than 24% this year.
Keros didn't release any news this week, but a competitor did make news that affected the stock. Merck announced positive news from its Phase 3 trial for Sotatercept, a therapy designed to treat pulmonary arterial hypertension (PAH). Though it was a competitor's drug, there was a sympathetic reaction to the news because Keros has its own PAH drug in its pipeline.
One analyst for Jefferies even said Keros' KER-012 has a differentiated efficacy and safety potential against Sotatercept and a successful trial for Sotatercept would be a positive sign for Keros. KER-012 is in early-stage trials as a treatment for PAH and bone disorders. The company said last month it plans to begin a phase 2 trial for the drug for PAH early next year.
Source Fool.com
