Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 186

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 186
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1 million of service and other revenue related to the Hansoh Agreement for the three months ended March 31, 2025, compared to $0.1 million for the three months ended March 31, 2024. The increase in total revenue of $211.2 million was primarily due to the Takeda Agreement.

Research and Development Expenses 

25

The following table summarizes our research and development expenses for the three months ended March 31, 2025 and 2024 (in thousands): 

THREE MONTHS ENDED MARCH 31,INCREASE / (DECREASE)20252024Cibotercept$5,908 $5,471 $437 KER-0651,517 4,364 (2,847)Elritercept18,895 8,584 10,311 Preclinical and development fees1,744 3,383 (1,639)Personnel expenses (including stock-based compensation)16,079 12,950 3,129 Professional fees1,390 1,265 125 Facilities and supplies2,688 1,708 980 Other expenses488 533 (45)$48,709 $38,258 $10,451 

Research and development expenses were $48.7 million for the three months ended March 31, 2025, compared to $38.3 million for the three months ended March 31, 2024. The increase of $10.5 million was primarily due to (i) an increase of $0.4 million of cibotercept-related expenses, primarily driven by a net increase of $0.8 million in preclinical activities and partially offset by a decrease of $0.4 million in clinical spend associated with our Phase 2 clinical trial; (ii) an increase of $10.3 million of elritercept-related expenses, primarily driven by an increase of $5.9 million in manufacturing activities and an increase of $4.4 million in clinical spend associated with our ongoing Phase 2 clinical trials, one in patients with MDS and one in patients with myelofibrosis, and the advancement of a Phase 3 clinical trial in patients with MDS; (iii) an increase of $3.1 million related to personnel expenses, including an increase of $1.4 million of additional stock-based compensation costs, driven by increased headcount to support the advancement of our pipeline; and (iv)