Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 317

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 317
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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) a net increase of $1.1 million in facilities, supplies, professional fees and other expenses due to the growth of our organization. These increases were partially offset by (a) a decrease of $2.8 million of KER-065-related expenses, primarily driven by a net decrease of $2.9 million in manufacturing and preclinical activities, offset by an increase of $0.1 million in clinical spend associated with our ongoing Phase 1 clinical trial; and (b) a decrease of $1