Company: KROS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001664710-25-000018
Chunk: 69

Company: Keros Therapeutics, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 69
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23Prepaid external R&D costs$15,748 $10,116 Prepaid external manufacturing costs5,545 2,303 Prepaid sales tax121 429 Prepaid insurance651 638 Prepaid subscriptions960 568 Interest and dividend receivable 1,714 948 Other1,481 1,001 Total prepaid expenses and other current assets$26,220 $16,003 

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net as of December 31, 2024 and 2023 consisted of the following (in thousands):DECEMBER 31,20242023Computer equipment and software$35 $35 Laboratory equipment5,978 5,279 Office furniture1,173 540 Total7,186 5,854 Less: accumulated depreciation(2,949)(1,720)Property and equipment, net$4,237 $4,134 Depreciation expense was $1.2 million, $0.8 million, and $0.7 million for each of the years ended December 31, 2024, 2023, and 2022, respectively.

6. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities as of December 31, 2024 and 2023 consisted of the following (in thousands):DECEMBER 31,20242023Accrued external R&D costs$5,139 $3,904 Accrued external manufacturing costs4,308 5,288 Accrued compensation and benefits10,130 7,542 Accrued legal and consultants877 519 Other416 665 Total accrued expenses and other current liabilities$20,870 $17,918 

7. LICENSE AGREEMENTS

Massachusetts General HospitalOn April 5, 2016, the Company entered into an exclusive patent license agreement with The General Hospital Corporation d/b/a Massachusetts General Hospital (“MGH”). Under the license agreement with MGH (as amended in May 2017 and February 2018, the “MGH Agreement”), the Company obtained an exclusive, worldwide license, with the right to sublicense, under certain patents and technical information of MGH, to make, have made, use, have used, sell, have sold, lease, have leased, import, have imported or otherwise transfer licensed products and processes for