Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 286

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 286
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2024:THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,2025202420252024REVENUE:Total segment revenue18,168 37 229,414 120 LESS:KER-065 program expenses(1,431)(2,926)(2,948)(7,290)Elritercept program expenses(15,636)(11,001)(34,531)(19,585)Cibotercept program expenses(4,059)(6,731)(9,967)(12,202)Preclinical & development expenses(1,981)(2,733)(3,725)(6,116)Compensation costs (excluding stock based compensation)(13,842)(11,641)(27,619)(23,356)Stock-based compensation(8,542)(8,785)(17,405)(16,855)Depreciation expense(370)(305)(714)(583)Other segment items2(12,345)(6,550)(20,841)(13,688)Dividend income7,120 5,378 13,912 11,184 Income tax (provision) benefit2,222 — (7,821)— Net income (loss)(30,696)(45,257)117,755 (88,371)The Company manages its operations as a single reportable segment focused on developing novel therapeutics. Segment revenue above is 100 percent attributed to the Company’s agreements with Takeda and Hansoh and is equal to consolidated total revenue. All revenues are derived in the United States where the agreements originated. The Company manages expenses on a program level. The significant expense categories outlined above align with the segment-level information that is regularly provided to the chief operating decision maker (“CODM”) to allocate resources, assess performance of the reportable segment, and make key operating decisions. On a quarterly basis, the Company's CODM, who is its Chief Executive Officer, reviews financial information, including consolidated net income, clinical expenses by program, other company expenses and a long-range cash flow projection, to make resource decisions for the Company’s programs to achieve the approved corporate goals. No segment asset information is provided above as the CODM is focused on how expenses impact ending cash by period and overall cash runway. Any review of segment assets, which would focus on cash and cash equivalents, would be at the same level as the consolidated balance sheet. All long-lived assets are held in the United