Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 256

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 256
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 will increase in the future as we increase our headcount to support our continued research and development and potential commercialization of our product candidates. We have incurred and expect to continue to incur increased expenses associated with being a public company, including costs of accounting, audit, legal, regulatory and tax compliance services, director and officer insurance costs, and investor and public relations costs.

Other Income (Expense), Net

Dividend Income

Dividend income consists of income earned on our money market funds that are recorded as cash equivalents on our consolidated balance sheets.

Other Expense, Net 

Other expense, net primarily consists of unrealized and realized gains and losses on foreign currency. 

Income Tax (Provision) Benefit

The tax (provision) benefit recorded for the three and six months ended June 30, 2025 resulted from income tax related to taxable income generated from the Takeda Agreement. We have not recorded any income tax benefits for the losses incurred to date as it is more likely than not that these benefits will not be realized based on our history of losses and expected future losses.

25

Results of Operations 

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

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

THREE MONTHS ENDED JUNE 30,20252024REVENUE:Service and other revenue$18,168 $37 Total revenue18,168 37 OPERATING EXPENSES:Research and development(43,503)(40,515)General and administrative(14,482)(9,961)Total operating expenses(57,985)(50,476)INCOME (LOSS) FROM OPERATIONS(39,817)(50,439)OTHER INCOME (EXPENSE), NETDividend income7,120 5,378 Other expense, net(221)(196)Total other income, net6,899 5,182 Income (loss) before income taxes(32,918)(45,257)Income tax (provision) benefit2,222 — Net income (loss)$(30,696)$(45,257)

Revenue

We recognized $18.2 million of service and other revenue related to the Takeda Agreement for the three months ended June 30, 2025, compared to zero for the three months ended June 30, 2024. We recognized no service and other revenue related to the