Company: KROS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001664710-25-000089
Chunk: 281

Company: Keros Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 281
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.35 Cancelled or Forfeited (766,443)54.60 Expired(109,902)$47.75 Outstanding as of September 30, 20254,526,762 $40.05 Options exercisable as of September 30, 20253,541,878 $36.94 The summary of option activity includes performance-based stock options granted during 2024. As of September 30, 2025, there has been no expense recognized for the performance-based stock options. The weighted-average grant date fair value price per share of options granted during the nine months ended September 30, 2025 and 2024 was $10.36 and $40.11, respectively. As of September 30, 2025, there was $32.9 million of unrecognized stock-based compensation expense related to unvested stock options, including $4.9 million of unrecognized stock-based compensation expense related to unvested performance-based stock options for which the performance criteria is currently not deemed probable. The unrecognized stock-based compensation expense is estimated to be recognized over a period of 1.64 years. The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock. The aggregate intrinsic value of the stock options outstanding and stock options exercisable was $6.5 million and $6.4 million as of September 30, 2025, respectively. The aggregate intrinsic value of stock options exercised was $0.7 million and $8.5 million during the nine months ended September 30, 2025 and 2024, respectively. 2020 Employee Stock Purchase Plan In March 2020, the Board adopted and the Company's stockholders approved the 2020 Employee Stock Purchase Plan ("ESPP"). The ESPP became effective on April 7, 2020. Under the ESPP, eligible employees can purchase shares of the Company's common stock, based on a percentage of their compensation, subject to certain limits. The purchase price per share is equal to the lower of 85% of the fair market value of the Company's common stock on the first trading day of the twenty-four month offering period, or on the applicable purchase date. Each offering under the ESPP consists of two twelve-month purchase periods.Under the ESPP, there is an annual increase on January