Company: KROS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001664710-25-000018
Chunk: 209

Company: Keros Therapeutics, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 209
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 ended December 31, 2024.

13. Segment Reporting

The following table presents segment revenue and significant segment expenses (in thousands) for the years ended December 31, 2024, 2023 and 2022:YEAR ENDED DECEMBER 31,202420232022REVENUE:Total segment revenue3,550 151 — LESS:Cibotercept program expenses(29,777)(20,931)(12,433)KER-065 program expenses(16,090)(5,962)(6,010)Elritercept program expenses(44,319)(41,249)(24,492)Preclinical & development expenses(12,008)(12,420)(9,221)Compensation costs (excluding stock based compensation)(48,084)(38,074)(26,476)Stock-based compensation(34,872)(28,763)(18,682)Depreciation expense(1,229)(815)(674)Other segment items1(27,720)(19,684)(10,334)Interest expense— — (1)Dividend income 23,496 14,755 3,644 Income tax provision$(300)$— $— Net loss$(187,353)$(152,992)$(104,679)The Company manages its operations as a single reportable segment focused on developing novel therapeutics. Segment revenue above is 100 percent attributed to the Company’s agreements with Hansoh and is equal to consolidated total revenue. All revenues are derived in the United States where the agreements originated. The Company manages expenses on a program level. The significant expense categories outlined above align with the segment-level information that is regularly provided to the CODM to allocate resources, assess performance of the reportable segment, and make key operating decisions. On a quarterly basis, the CODM reviews financial information, including consolidated net income, clinical expenses by program, other company expenses and a long-range cash flow projection, to make resource decisions for the Company’s programs and review and approve corporate goals. No segment asset information is provided above as the CODM is focused on how expenses impact ending cash by period and overall cash runway.  Any review of segment assets, 

1Other segment items include professional fees, facilities and office expenses, marketing and travel expenses, research and development incentive income, and other income and expenses, primarily consisting of other taxes and fees and unrealized and realized gains and losses on foreign currency.

F-24

which would focus on