Company: KROS
Filing Date: 2025-05-19
Form Type: DEFA14A
Source: 0001104659-25-050246
Chunk: 0

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-19
Form: DEFA14A
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934</div>

Filed by the Registrant x

Filed by a Party other than the Registrant ¨

Check the appropriate box:

| ¨ | Preliminary Proxy Statement                                                     |
| ¨ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ¨ | Definitive Proxy Statement                                                      |
| x | Definitive Additional Materials                                                 |
| ¨ | Soliciting Material Pursuant to §240.14a-12                                     |

<div align='center'>Keros Therapeutics, Inc.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement if other than the Registrant)</div>

Payment of Filing Fee (Check the appropriate box):

| x | No fee required.                                                                                    |
| ¨ | Fee paid previously with preliminary materials.                                                     |
| ¨ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rule 14a-6(i)(1) and 0-11. |

This Schedule 14A filing consists of the following
presentation distributed by Keros Therapeutics, Inc. (the “Company”) to its stockholders in connection with the Company’s
2025 Annual Meeting of Stockholders. The presentation was first used or made available on May 19, 2025.

| B 3                                                                                                                                             
 Executive Summary                                                                                                                               
 1 Performance Peers based on rare hematology companies with significant partnerships and clinical stage DMD peers: GERN, DYN, TRDA, KURA, DNTH. 
 Keros has a world-class management team and Board, multiple novel therapeutic candidates addressing significant unmet                           
 patient needs, and has demonstrated strong execution of its clinical pipeline                                                                   
 ▪ Keros has developed a portfolio of differentiated product candidates including elritercept (KER-050) (outlicensed to Takeda for               
 $200M upfront and up to $1.1B in potential milestones) and KER-065 (Ph2 expected 1Q26), and is evaluating potential development                 
 of cibotercept (KER-012) in pulmonary arterial hypertension (PAH) and other indications                                                         
 ▪ Our Board is