Avoiding the Zombie Biopharm trap at Keros $KROS (podcast #306)
In this episode of Yet Another Value Podcast, host Andrew Walker returns for a solo discussion on his Keros Therapeutics (KROS) thesis. KROS is a biotech navigating a dramatic fall from grace. Once buoyed by hopes for its leading drug Cybo (KER-012), KROS is now reeling from halted trials and a steep drop in share price. Andrew lays out the case for why this company, despite setbacks, may still hold considerable value. He explores KROS's licensing deal with Takeda, their significant cash reserves, and questions surrounding its future direction. Calling on shareholder alignment and corporate governance, Andrew challenges listeners to consider whether KROS is veering into zombie biotech territory—or poised for a smart pivot.
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