Investing.com -- Keros Therapeutics announced on Thursday the discontinuation of all development of its drug, cibotercept, for patients with pulmonary arterial hypertension.

The decision comes after an analysis of safety and efficacy data from the Tropos trial.

The company has also revealed plans to reduce its workforce by approximately 45%, leaving 85 full-time employees.

This move is expected to result in average annualized cost savings of around $17 million.

In addition, the strategic committee of the board is currently evaluating various strategic alternatives, which may include a potential sale of the company.

Keros anticipates providing a preliminary update on these proceedings by June 9.

Following the completion of the strategic alternative review process, the company plans to further evaluate the appropriate development strategy for cibotercept, if any, in other indications.

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