Company: KROS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001664710-25-000018
Chunk: 82

Company: Keros Therapeutics, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 82
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 Company recorded an ROU asset of $5.7 million and a lease liability of $5.7 million. The term of the sublease commenced on July 1, 

F-21

2024 (the "Sublease Commencement Date"). The Sublease Agreement has a term of 5 years and 3 months, measured from the Sublease Commencement Date. The Company’s obligation for the payment of base rent for the premises began on the Sublease Commencement Date. Base rent was initially fixed at $71.00 per rentable square foot and the Company is only required to pay base rent on 17,500 square feet for the first year of the sublease. The Sublease Agreement also provides for three months of free rent. Base rent will increase by approximately 3% per annum until the Sublease Agreement expires on September 30, 2029.In connection with its entry into the Sublease Agreement and as a security deposit, the Company provided Accent Therapeutics a letter of credit in the amount of approximately $0.2 million on the Sublease Commencement Date.The components of the lease cost as of December 31, 2024, 2023, and 2022 consisted of the following (in thousands):YEAR ENDED DECEMBER 31,202420232022Operating lease cost $3,521 $2,950 $1,089 Variable payments1,5541,317555Total lease cost$5,075$4,267$1,644Other information as of December 31, 2024, 2023 and 2022 (in thousands):DECEMBER 31,202420232022Cash paid for amounts included in the measurement of lease liabilities        Operating cash flows from operating leases $3,026$1,122$913Right-of-use assets obtained in exchange for new operating lease liabilities$5,737$1,338$15,423The weighted-average remaining lease term and discount rate for the leases as of December 31, 2024 and 2023 were as follows:DECEMBER 31,20242023Weighted-average remaining lease term — operating leases6.37.9Weighted-average discount rate — operating leases10.3 %10.3 % Maturities of operating lease liabilities at December 31, 2024 are as follows (in thousands):MATURITY OF LEASE LIABILITY2025$3,800 20264,002 20274,125