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Keros Therapeutics prices $96M IPO at higher end of range

Keros Therapeutics Inc. priced its IPO of 6 million common shares at $16 per share — the higher end of a previously announced range.

The Lexington, Mass.-based biopharmaceutical company expects gross proceeds of about $96 million from the offering.

Underwriters have a 30-day option to buy up to an additional 900,000 common shares at the same price.

Keros Therapeutics' shares are expected to begin trading on the Nasdaq Global Market April 8 under the KROS ticker symbol.

The company previously said it planned to offer 5 million common shares, priced at between $14 per share and $16 per share, with net proceeds to be used to develop the company's blood and musculoskeletal disorder drugs.

The offering is expected to close on or about April 13.

Jefferies LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the IPO, while H.C. Wainwright & Co. LLC is acting as co-manager.