01:05 PM EDT, 03/15/2024 (MT Newswires) -- (Updates with the company's latest stock move in the headline and first paragraph.)

Keros Therapeutics ( KROS ) shares were 4.1% higher in recent Friday trading, a day after the drugmaker said the US Food and Drug Administration gave fast track designation for KER-050 to treat anemia in adults with lower-risk myelodysplastic syndromes.

The company said it will work with the agency on the design of a phase 3 trial to evaluate the drug in lower-risk myelodysplastic syndromes in the first half of this year.

Fast track designation facilitates the development and expedites the review of drugs that show the potential to address unmet medical needs in serious diseases, the company said.

KER-050 is under development to treat low blood cell counts in people with myelodysplastic syndromes and people with myelofibrosis, the company said.

Price: 67.50, Change: +2.67, Percent Change: +4.12