Company: KROS
Filing Date: 2025-05-29
Form Type: 8-K
Source: 0001664710-25-000052
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Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-29
Form: 8-K
Item: Item 2.05
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Item 2.05  Costs Associated with Exit or Disposal Activities.

On May 28, 2025, the Board of Directors of Keros Therapeutics, Inc. (the “ Company”) formally approved a plan to reduce the Company’s overall workforce by approximately 45% (the “ Reorganization”). These plans were communicated to affected employees on May 29, 2025.

The Company expects to incur one-time cash charges associated with the Reorganization of approximately $3.2 million related to employee severance payments and related costs, which are expected to be expensed in the second quarter of 2025. In addition, the Company has committed to pay one-time employee retention costs to certain employees of up to approximately $0.4 million, which are expected to be incurred through the fourth quarter of 2025. The Company expects the Reorganization will be substantially complete by the fourth quarter of 2025.

The estimates of the charges and expenditures that the Company expects to incur in connection with the Reorganization, and the timing thereof, are subject to several assumptions and the actual amounts incurred may differ materially from these estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Reorganization.

Item 8.01 Other Events.