02:28 PM EDT, 05/29/2025 (MT Newswires) -- Keros Therapeutics ( KROS ) shares dropped 5.3% in recent trading Thursday after the company announced plans to halt the development of cibotercept for pulmonary arterial hypertension and to cut 45% of its workforce.

The job cuts will start after the mandated 60-day notice period, leaving the company with 85 full-time employees. Annual cost savings will be $17 million, the company said Thursday in a statement.

The decision to discontinue cibotercept was based on the analysis of results of a Phase 2 trial in PAH, and the company plans to evaluate the "appropriate" strategy for cibotercept in other indications after completing a broader corporate review of options.

A preliminary update on the review process is expected by June 9 with options including a potential sale of the company.

Price: 13.86, Change: -0.78, Percent Change: -5.34