Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 147

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 147
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 March 31, 2025, compared to $38.3 million for the three months ended March 31, 2024. The increase of $10.5 million was primarily due to (i) an increase of $0.4 million of cibotercept-related expenses, primarily driven by a net increase of $0.8 million in preclinical activities and partially offset by a decrease of $0.4 million in clinical spend associated with our Phase 2 clinical trial; (ii) an increase of $10.3 million of elritercept-related expenses, primarily driven by an increase of $5.9 million in manufacturing activities and an increase of $4.4 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; (iii) an increase of $3.1 million related to personnel expenses, including an increase of $1.4 million of additional stock-based compensation costs, driven by increased headcount to support the advancement of our pipeline; and (iv) a net increase of $1.1 million in facilities, supplies, professional fees and other expenses due to the growth of our organization. These increases were partially offset by (a) a decrease of $2.8 million of KER-065-related expenses, primarily driven by a net decrease of $2.9 million in manufacturing and preclinical activities, offset by an increase of $0.1 million in clinical spend associated with our ongoing Phase 1 clinical trial; and (b) a decrease of $1.6 million in preclinical pipeline and development activities. We expect research and development expenses to fluctuate from quarter to quarter depending on the timing of clinical trial activities, clinical manufacturing and other development activities. We expect that elritercept-related expenses will decrease once transitioned to Takeda.

General and Administrative Expenses 

General and administrative expenses were $10.5 million for the three months ended March 31, 2025, compared to $10.3 million for the three months ended March 31, 2024. The increase of approximately $0.2 million was primarily due to (i) a net increase of $0.5 million in professional fees, insurance, facilities, supplies and other expenses to support the growth of our business, partially offset by a decrease of $0.3 million in personnel expenses, which includes a decrease of $0.