Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 434

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 434
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 $229.3 million was primarily due to the Takeda Agreement. 

Research and Development Expenses 

The following table summarizes our research and development expenses for the six months ended June 30, 2025 and 2024 (in thousands):

SIX MONTHS ENDED JUNE 30,INCREASE / (DECREASE)20252024KER-0652,948 7,290 (4,342)Elritercept34,531 19,585 14,946 Cibotercept9,967 12,202 (2,235)Preclinical and development fees3,725 6,116 (2,391)Personnel expenses (including stock-based compensation)31,762 26,733 5,029 Professional fees3,126 2,364 762 Facilities and supplies5,140 3,286 1,854 Other expenses1,013 1,197 (184)$92,212 $78,773 $13,439 

Research and development expenses were $92.2 million for the six months ended June 30, 2025, compared to $78.8 million for the six months ended June 30, 2024. The increase of $13.4 million was primarily due to (i) an increase of $14.9 million in elritercept-related expenses, primarily driven by an increase of $8.7 million in clinical spend associated with our ongoing Phase 2 clinical trials, one in patients with MDS and one in patients with myelofibrosis, and the advancement of a Phase 3 clinical trial in patients with MDS, and an increase of $6.2 million in manufacturing activities; (ii) an increase of $5.0 million related to personnel expenses, which includes an increase of $1.7 million of additional stock-based compensation costs, primarily driven by increased severance costs; and (iii) a net increase of $2.4 million in facilities, supplies, professional fees and other expenses. These increases were partially offset by (a) a decrease of $4.3 million of KER-065-related expenses, primarily driven by a net decrease of $3.6 million in manufacturing and preclinical activities and a decrease of $0.8 million in clinical spend associated with our Phase 1 clinical trial; (b) a decrease of $2.2 million of cibotercept-related expenses, primarily driven by a decrease of $