Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 307

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 307
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2 million in lease expenses and $0.7 million in depreciation; partially offset by $5.5 million in net cash used in operating assets and liabilities. The $5.5 million of net cash used in operating assets and liabilities was comprised of (i) a $13.1 million increase in accounts receivable related to the Takeda Agreement; (ii) a $0.6 million increase in prepaid expenses and other current assets due to timing of expense recognition for our research and development costs; (iii) a $0.3 million decrease in accounts payable and accrued expenses to support the advancement of our programs; and (iv) a $0.9 million change in operating lease liabilities, which was partially offset by; (a) a $0.9 million increase in deferred revenue; (b) a $6.3 million increase in current tax liability; and (c) a $2.1 million decrease in other long-term assets.

Net cash used in operating activities was $84.4 million for the six months ended June 30, 2024, which was driven by a net loss of $88.4 million and $14.1 million in net cash used in operating assets and liabilities, partially offset by non-cash charges including $16.9 million of stock-based compensation expense, $0.7 million in lease expenses and $0.6 million in depreciation. The $14.1 million of net cash used by operating assets and liabilities was comprised of (i) $10.8 million used in prepaid expenses and other assets due to timing of expense recognition for our research and development costs; (ii) $2.8 million used in accounts payable and accrued expenses to support the advancement of our programs; and (iii) $0.6 million used in our operating lease liabilities, which was partially offset by a $0.1 million decrease in accounts receivable.

Cash Used in Investing Activities

30

Net cash used in investing activities was $1.3 million for the six months ended June 30, 2025 and $1.3 million for the six months ended June 30, 2024. The cash used in investing activities in both periods was due to purchases of property and equipment. 

Cash Provided by Financing Activities 

Net cash provided by financing activities was nominal for the six months ended June 30, 2025, and was related to exercises of options to purchase common stock.

Net cash provided by financing activities was $160.3 million for the six months ended