Company: KROS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001664710-25-000089
Chunk: 297

Company: Keros Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 297
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 Parties, and certain entities affiliated with Pontifax Venture Capital, or the Pontifax Parties, to repurchase the shares of common stock held by the ADAR1 Parties and the Pontifax Parties, respectively, at a price of $17.75 per share. 

Pursuant to the terms and conditions of the stock purchase agreement with the ADAR1 Parties, or the ADAR1 Repurchase Agreement, and the stock purchase agreement with the Pontifax Parties, or the Pontifax Repurchase Agreement, the ADAR1 Parties and the Pontifax Parties sold all of the shares of our common stock beneficially owned by them, being an aggregate of 10,176,595 shares of common stock, to us at a per share purchase price of $17.75 per share, for an aggregate purchase price of $180.6 million. In addition, concurrently with the execution of the Pontifax Repurchase Agreement, each of Tomer Kariv and Ran Nussbaum resigned from our board of directors and all committees thereof.

Pursuant to the ADAR1 Repurchase Agreement and the Pontfiax Repurchase Agreement, the ADAR1 Parties and the Pontifax Parties each agreed to customary standstill restrictions and voting commitments, which will remain in effect until immediately following the final certification of the voting results for our 2028 annual stockholder meeting. We and each of the ADAR1 Parties and the Pontifax Parties also agreed to customary mutual non-disparagement obligations to remain in effect during the same period.

In October 2025, we also announced that we plan to distribute 25% of any net cash proceeds we receive on or before December 31, 2028 from our license agreement with Takeda to our stockholders.

On October 20, 2025, we announced the commencement of an issuer tender offer to repurchase shares of our common stock for an aggregate cash purchase price of up to $194.4 million, at a cash purchase price of $17.75 per share, subject to market conditions and upon the terms and conditions set forth in the tender offer documents that were filed with the SEC on October 20, 2025.

Known Trends, Events and Uncertainties

While recent trends towards rising inflation have eased, prices continue to rise, which may also materially affect our business and corresponding financial position and cash flows. Inflationary factors, such as increases in the cost of materials and supplies relating to our preclinical studies, clinical trials, interest rates and overhead costs may adversely affect our operating