Company: KROS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001664710-25-000089
Chunk: 269

Company: Keros Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 269
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 due to timing of expense recognition for our research and development costs; (iii) a $2.1 million decrease in other long-term assets; and (iv) a $0.2 million increase in deferred revenue; offset by (a) a $8.0 million decrease in accounts payable and accrued expenses, primarily driven by the transition of elritercept-related expenses to Takeda and the deprioritization of cibotercept, (b) a $1.4 million change in operating lease liabilities, and (c) a $0.8 million increase in accounts receivable related to the Takeda Agreement.

Net cash used in operating activities was $114.9 million for the nine months ended September 30, 2024, which was driven by a net loss of $141.3 million and $1.4 million in net cash used in operating assets and liabilities, partially offset by non-cash charges including $25.7 million of stock-based compensation expense, $1.2 million in lease expenses and $0.9 million in depreciation. The $1.4 million of net cash used by operating assets and liabilities was comprised of (i) $5.0 million used in prepaid expenses and other assets due to timing of expense recognition for our research and development costs; (ii) a $0.9 

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million used in our operating lease liabilities,(iii) a $0.2 million increase in accounts receivable; offset by (a) a $4.3 million increase in accounts payable and accrued expenses to support the advancement of our programs; and (b) a $0.5 million decrease in other long-term assets. 

Cash Used in Investing Activities

Net cash used in investing activities was $1.4 million for the nine months ended September 30, 2025 and $1.6 million for the nine months ended September 30, 2024. The cash used in investing activities in both periods was due to purchases of property and equipment. 

Cash Provided by Financing Activities 

Net cash provided by financing activities was $0.2 million for the nine months ended September 30, 2025, and was primarily related to issuances of common stock under the 2020 Employee Stock Purchase Plan and exercises of options to purchase common stock.

Net cash provided by financing activities was $316.3 million for the nine months ended September 30, 2024, which was primarily related to (i) net proceeds of $151.1 million received from our