Company: KROS
Filing Date: 2025-10-15
Form Type: SC TO-C
Source: 0001104659-25-099513
Chunk: 5

Company: Keros Therapeutics, Inc.
Filing Date: 2025-10-15
Form: SC TO-C
Chunk 5
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, as amended. Words such as “anticipates,” “believes,” “continue,”
“expects,” “enable,” “intention,” “potential” and “will” or similar expressions
are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: the expected
closing of the Repurchase Transactions, the intended commencement of the tender offer; Keros’ expectations regarding its strategy,
progress and timing of its clinical trials for KER-065, including its regulatory plans; the therapeutic potential of KER-065, including
in patients with Duchenne muscular dystrophy; and Keros’ plan to distribute certain net cash proceeds received from its global license
agreement with Takeda Pharmaceuticals U.S.A., Inc. Because such statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among
others: Keros’ limited operating history and historical losses; Keros’ ability to raise additional funding to complete the
development and any commercialization of its product candidates; Keros’ dependence on the success of its product candidates, KER-065
and elritercept; that Keros may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties
that are developing products for similar uses; Keros’ ability to obtain, maintain and protect its intellectual property; and Keros’
dependence on third parties in connection with manufacturing, clinical trials and preclinical studies.

These and other risks are
described more fully in Keros’ filings with the SEC, including the “Risk Factors” section of the Company’s Quarterly
Report on Form 10-Q, filed with the SEC on August 6, 2025, and its other documents subsequently filed with or furnished to the
SEC. All forward-looking statements contained in this Current Report on Form 8-K speak only as of the date on which they were made.
Except to the extent required by law, Keros undertakes no obligation to update such statements to reflect events that occur or circumstances
that exist after the date on which they were made.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

| Exhibit No. 
 2.1         
 2.2         |     | Description                                                                                              
 Stock Purchase Agreement, dated as of October 15, 2025, by and between the Company and ADAR1.            
 Stock Purchase Agreement, dated as of October 15,