Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 259

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 259
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 120 OPERATING EXPENSES:Research and development(92,212)(78,773)General and administrative(24,979)(20,269)Total operating expenses(117,191)(99,042)INCOME (LOSS) FROM OPERATIONS112,223 (98,922)OTHER INCOME (EXPENSE), NETDividend income13,912 11,184 Other expense, net(559)(633)Total other income, net13,353 10,551 Income (loss) before income taxes125,576 (88,371)Income tax (provision) benefit(7,821)— Net income (loss)$117,755 $(88,371)

Revenue

27

We recognized $195.4 million of license revenue and $34.0 million of service and other revenue related to the Takeda Agreement for the six months ended June 30, 2025, compared to zero for the six months ended June 30, 2024. We recognized $0.1 million of service and other revenue related to the Hansoh Agreement for the six months ended June 30, 2025, compared to $0.1 million for the six months ended June 30, 2024. The increase in total revenue of $229.3 million was primarily due to the Takeda Agreement. 

Research and Development Expenses 

The following table summarizes our research and development expenses for the six months ended June 30, 2025 and 2024 (in thousands):

SIX MONTHS ENDED JUNE 30,INCREASE / (DECREASE)20252024KER-0652,948 7,290 (4,342)Elritercept34,531 19,585 14,946 Cibotercept9,967 12,202 (2,235)Preclinical and development fees3,725 6,116 (2,391)Personnel expenses (including stock-based compensation)31,762 26,733 5,029 Professional fees3,126 2,364 762 Facilities and supplies5,140 3,286 1,854 Other expenses1,013 1,197 (184)$92,212 $78,773 $13,439 

Research and development expenses were $92.2 million for the six months ended June 30, 2025, compared to $78.8 million for the six months