Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 258

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 258
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 million in manufacturing and preclinical activities; (b) a decrease of $2.7 million of cibotercept-related expenses, primarily driven by a decrease of $2.1 million in clinical spend associated with our Phase 2 clinical trial and a net decrease of $0.6 million in manufacturing and preclinical activities; and (c) a decrease of $0.8 million in preclinical pipeline and development activities. We expect research and development expenses to fluctuate from quarter to quarter depending on the timing of clinical trial activities, clinical manufacturing and other development activities. We expect that elritercept-related expenses will decrease once transitioned to Takeda.

General and Administrative Expenses 

General and administrative expenses were $14.5 million for the three months ended June 30, 2025, compared to $10.0 million for the three months ended June 30, 2024. The increase of approximately $4.5 million was primarily due to (i) a net increase of $4.5 million in professional fees, insurance, facilities, supplies and other expenses and (ii) a net increase of $0.1 million in personnel expenses, which includes a decrease of $0.6 million of stock-based compensation costs, partially offset by a net increase of $0.7 million in salaries and bonus, severance, benefits and other payroll costs.

Total Other Income, Net

Total other income, net was $6.9 million for the three months ended June 30, 2025, compared to $5.2 million for the three months ended June 30, 2024. The increase of $1.7 million was primarily driven by an increase of $1.7 million in dividend income.

Income Tax (Provision) Benefit

Income tax benefit was $2.2 million for the three months ended June 30, 2025, compared to zero for the three months ended June 30, 2024. The increase of $2.2 million in income tax benefit is attributed to taxable income generated from the Takeda Agreement.

Comparison for the six months ended June 30, 2025 and 2024

The following table summarizes our results of operations for the six months ended June 30, 2025 and 2024 (in thousands): 

SIX MONTHS ENDED JUNE 30,20252024REVENUE:Service and other revenue$34,059 $120 License revenue195,355 — Total revenue229,414