Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 303

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 303
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 million in clinical spend associated with our Phase 1 clinical trial; (b) a decrease of $2.2 million of cibotercept-related expenses, primarily driven by a decrease of $2.4 million in clinical spend associated with our Phase 2 clinical trial, partially offset by an increase of $0.2 million in manufacturing and preclinical activities; and (c) a decrease of $2.4 million in preclinical and development fees related to general pipeline development.

General and Administrative Expenses 

General and administrative expenses were $25.0 million for the six months ended June 30, 2025, compared to $20.3 million for the six months ended June 30, 2024. The increase of approximately $4.7 million was primarily due to a net increase of $4.9 million in professional fees, insurance, facilities, supplies and other expenses to support the growth of our business, partially offset by a decrease of $0.2 million in personnel expenses, which includes a decrease of $1.2 million additional stock-based compensation costs, partially offset by a net increase of $1.0 million in salaries and bonus, severance, benefits and other payroll costs.

Total Other Income, Net

Total other income, net was $13.4 million for the six months ended June 30, 2025, compared to $10.6 million for the six months ended June 30, 2024. The increase of approximately $2.8 million was driven by an increase of $2.7 million in dividend income and a decrease of $0.1 million in other expense, net.

Income Tax (Provision) Benefit

Income tax provision was $7.8 million for the six months ended June 30, 2025, compared to zero for the six months ended June 30, 2024. The increase of $7.8 million in income tax provision is attributed to taxable income generated from the Takeda Agreement.

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Liquidity and Capital Resources 

Since our inception, we have incurred significant operating losses each fiscal year. Our net income, which was primarily driven by revenue related to the Takeda Agreement, was $117.8 million for the six months ended June 30, 2025, compared to net loss of $88.4 million for the six months ended June 30, 2024. As of June 30, 2025 and December 31, 2024, we had an accumulated deficit of $451