Keros Therapeutics adopts poison pill as shareholders seek control
April 10 (Reuters) - Drug developer Keros Therapeutics (KROS.O), opens new tab said on Thursday its board has authorized a poison pill defense in response to some investors who have indicated "a desire to influence the control" of the company.
Shares of Keros jumped nearly 19% to $12.28 in premarket trading, after the company also said it had launched a process to evaluate strategic alternatives, including its possible sale.
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The limited-duration stockholder rights plan is intended to help ensure that all interested parties have the opportunity to participate fairly in the company's strategic review process, the company said.
"The board adopted the rights plan in response to significant and rapid accumulations of the company's common stock by a number of investors ... including an individual investor which has informed the company that it holds 11.2% of Keros' outstanding common stock."
Keros did not disclose the identity of the shareholders and did not immediately respond to a Reuters request for additional information.
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