Company: KROS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001664710-25-000089
Chunk: 439

Company: Keros Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 439
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13,576 (10,235)Cibotercept1,218 8,618 (7,400)Preclinical and development fees1,700 4,206 (2,506)Personnel expenses (including stock-based compensation)7,872 13,926 (6,054)Professional fees1,720 1,385 335 Facilities and supplies1,841 1,949 (108)Other expenses482 630 (148)$19,519 $49,225 $(29,706)

Research and development expenses were $19.5 million for the three months ended September 30, 2025, compared to $49.2 million for the three months ended September 30, 2024. The decrease of $29.7 million was primarily due to (i) a decrease of $3.6 million of KER-065-related expenses, primarily driven by a net decrease of $2.4 million in manufacturing and preclinical activities and a decrease of $1.2 million in clinical spend associated with our Phase 1 clinical trial; (ii) a decrease of $10.2 million of elritercept-related expenses, primarily driven by a decrease of $9.4 million in clinical spend associated with our ongoing Phase 2 clinical trials, one in patients with MDS and one in patients with myelofibrosis, and the advancement of a Phase 3 clinical trial in patients with MDS, as clinical activities transition to Takeda, and a decrease of $0.9 million in manufacturing activities; (iii) a decrease of $7.4 million of cibotercept-related expenses, primarily driven by a net decrease of $3.8 million in manufacturing and preclinical activities and a decrease of $3.6 million in clinical spend associated with our Phase 2 clinical trial; (iv) a decrease of $2.5 million in preclinical pipeline and development fees related to general pipeline development; and (v) a decrease of $6.1 million related to personnel expenses, including a decrease of $3.7 million of stock-based compensation costs driven by a reduction in headcount. These decreases were partially offset by a net increase of $0.1 million in facilities, supplies, professional fees and other expenses. We expect research and development expenses to fluctuate from quarter to quarter depending on the timing of clinical trial activities, clinical manufacturing and other development activities. We expect that elritercept-related expenses will be