Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 160

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 160
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; the challenges of complying with applicable regulatory requirements; and identifying, acquiring or in-licensing additional products or product candidates. 

3. FAIR VALUE MEASUREMENTS 

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands): DESCRIPTIONMARCH 31, 2025QUOTED PRICES ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 3)AssetsMoney market funds$713,936 $713,936 $— $— Total financial assets$713,936 $713,936 $— $— DESCRIPTIONDECEMBER 31, 2024QUOTED PRICES ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 3)AssetsMoney market funds$556,064 $556,064 $— $— Total financial assets$556,064 $556,064 $— $— 

There have been no transfers between fair value levels during the three months ended March 31, 2025. The carrying values of other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. 

4. PREPAID EXPENSES AND OTHER CURRENT ASSETS 

Prepaid expenses and other current assets consisted of the following (in thousands): MARCH 31,2025DECEMBER 31,2024Prepaid external R&D costs$14,587 $15,748 Prepaid external manufacturing costs449 5,545 Prepaid sales tax275 121 Prepaid insurance210 651 Prepaid subscriptions1,134 960 Interest and dividend receivable2,083 1,714 Other2,939 1,481 Total prepaid expenses and other current assets$21,677 $26,220 

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5. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES 

Accrued expenses and other current liabilities consisted of the following (in thousands): MARCH 31,2025DECEMBER 31,2024Accrued external R&D costs$6,605