Company: KROS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001664710-25-000089
Chunk: 440

Company: Keros Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 440
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 eliminated once transitioned to Takeda.

General and Administrative Expenses 

General and administrative expenses were $10.1 million for the three months ended September 30, 2025, compared to $9.8 million for the three months ended September 30, 2024. The increase of approximately $0.3 million was primarily due to a net increase of $1.3 million in professional fees, insurance, facilities, supplies and other expenses, partially offset by a decrease of $1.0 million in personnel expenses, which includes a decrease of $1.1 million of stock-based compensation costs, partially offset by a net increase of $0.1 million in salaries and bonus, severance, benefits and other payroll costs.

Total Other Income, Net

Total other income, net was $6.7 million for the three months ended September 30, 2025, compared to $5.7 million for the three months ended September 30, 2024. The increase of $1.0 million was primarily driven by an increase of $1.1 million in dividend income, partially offset by an increase of $0.2 million of other expenses, net.

27

Income Tax (Provision) Benefit

Income tax benefit was $1.4 million for the three months ended September 30, 2025, compared to zero for the three months ended September 30, 2024. The increase of $1.4 million in income tax benefit is attributed to taxable income generated from the Takeda Agreement.

Comparison for the nine months ended September 30, 2025 and 2024

The following table summarizes our results of operations for the nine months ended September 30, 2025 and 2024 (in thousands): 

NINE MONTHS ENDED SEPTEMBER 30,20252024REVENUE:Service and other revenue$38,321 $508 License revenue205,355 — Total revenue243,676 508 OPERATING EXPENSES:Research and development(111,731)(127,998)General and administrative(35,106)(30,089)Total operating expenses(146,837)(158,087)INCOME (LOSS) FROM OPERATIONS96,839 (157,579)OTHER INCOME (EXPENSE), NETDividend income20,845 16,977 Other expense, net(812)(725)Total other income, net20,033 16,252 Income (loss) before