Company: KROS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001664710-25-000018
Chunk: 191

Company: Keros Therapeutics, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 191
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’s financial statements.

In addition, the Company is subject to other challenges and risks specific to its business and its ability to execute on its business plan and strategy, as well as risks and uncertainties common to companies in the biopharmaceutical industry with research and development operations, including, without limitation, risks and uncertainties associated with: obtaining regulatory approval of its product candidates; delays or problems in obtaining clinical supply, loss of single source suppliers or failure to comply with manufacturing regulations; product development and the inherent uncertainty of clinical success; the challenges of protecting and enhancing its intellectual property rights; the challenges of complying with applicable regulatory requirements; and identifying, acquiring or in-licensing additional products or product candidates. 

3. FAIR VALUE MEASUREMENTS

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands):DESCRIPTIONDECEMBER 31,2024QUOTED PRICESACTIVE MARKETSFOR IDENTICALASSETS (LEVEL 1)SIGNIFICANT OTHEROBSERVABLEINPUTS (LEVEL 2)SIGNIFICANT OTHEROBSERVABLEINPUTS (LEVEL 3)AssetMoney market funds$556,064 $556,064 $— $— Total financial assets$556,064 $556,064 $— $— DESCRIPTIONDECEMBER 31,2023QUOTED PRICESACTIVE MARKETSFOR IDENTICALASSETS (LEVEL 1)SIGNIFICANT OTHEROBSERVABLEINPUTS (LEVEL 2)SIGNIFICANT OTHEROBSERVABLEINPUTS (LEVEL 3)AssetMoney market funds$325,898 $325,898 $— $— Total financial assets$325,898 $325,898 $— $— 

There have been no transfers between fair value levels during the years ended December 31, 2024 and 2023. The carrying values of prepaid expenses, other current assets, accounts payable, and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. 

F-14

4. PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):DECEMBER 31,20242023Prepaid external R&D costs$15,748