Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 151

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 151
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 combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other marketing or distribution arrangements. Adequate additional funding may not be available to us on acceptable terms, or at all. Any failure to raise capital as and when needed could have a negative impact on our financial condition and on our ability to pursue our business plans and strategies.

Cash Flows

The following table summarizes our cash flows for the three months ended March 31, 2025 and 2024 (in thousands):

THREE MONTHS ENDED MARCH 31,20252024Net cash provided by (used in) operating activities$161,171 $(44,560)Net cash used in investing activities(565)(946)Net cash provided by financing activities4 156,802 Net increase in cash, cash equivalents and restricted cash$160,610 $111,296 

Cash Provided by (Used in) Operating Activities 

Net cash provided by operating activities was $161.2 million for the three months ended March 31, 2025, which was driven by a (i) net income of $148.5 million; (ii) $2.9 million in net cash provided by operating assets and liabilities; and (iii) non-cash charges including $8.9 million of stock-based compensation expense, $0.6 million in lease expenses and $0.3 million in depreciation. The $2.9 million of net cash provided by operating assets and liabilities was comprised of (i) a $4.5 million decrease in prepaid expenses and other current assets due to timing of expense recognition for our research and development costs; (ii) a $3.3 million increase in deferred revenue; (iii) a $10.0 million increase in current tax liability; and (iv) a $1.6 million decrease in other long-term assets, which was partially offset by (a) a $14.5 million increase in accounts receivable related to the Takeda Agreement; (b) a $1.6 million decrease in accounts payable and accrued expenses to support the advancement of our programs; and (c) a $0.4 million change in operating lease liabilities.

Net cash used in operating activities was $44.6 million for the three months ended March 31, 2024, which was driven by a net loss of $43.1 million and $10.1 million in net cash used in operating assets and liabilities, partially offset by non-cash charges