Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 299

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 299
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 the three months ended June 30, 2025 and 2024 

The following table summarizes our results of operations for the three months ended June 30, 2025 and 2024 (in thousands): 

THREE MONTHS ENDED JUNE 30,20252024REVENUE:Service and other revenue$18,168 $37 Total revenue18,168 37 OPERATING EXPENSES:Research and development(43,503)(40,515)General and administrative(14,482)(9,961)Total operating expenses(57,985)(50,476)INCOME (LOSS) FROM OPERATIONS(39,817)(50,439)OTHER INCOME (EXPENSE), NETDividend income7,120 5,378 Other expense, net(221)(196)Total other income, net6,899 5,182 Income (loss) before income taxes(32,918)(45,257)Income tax (provision) benefit2,222 — Net income (loss)$(30,696)$(45,257)

Revenue

We recognized $18.2 million of service and other revenue related to the Takeda Agreement for the three months ended June 30, 2025, compared to zero for the three months ended June 30, 2024. We recognized no service and other revenue related to the Hansoh Agreement for the three months ended June 30, 2025, compared to $37.0 thousand for the three months ended June 30, 2024. The increase in total revenue of $18.1 million was due to the Takeda Agreement.

Research and Development Expenses 

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

THREE MONTHS ENDED JUNE 30,INCREASE / (DECREASE)20252024KER-0651,431 2,926 (1,495)Elritercept15,636 11,001 4,635 Cibotercept4,059 6,731 (2,672)Preclinical and development fees1,981 2,733 (752)Personnel expenses (including stock-based compensation)15,683 13,783 1,900 Professional fees1,736 1,099 637 Facilities and supplies2,452 1,578 874 Other expenses