Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 273

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 273
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 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): DESCRIPTIONJUNE 30, 2025QUOTED PRICES ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 3)AssetsMoney market funds$687,573 $687,573 $— $— Total financial assets$687,573 $687,573 $— $— 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 six months ended June 30, 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): JUNE 30,2025DECEMBER 31,2024Prepaid external R&D costs$14,817 $15,748 Prepaid external manufacturing costs1,959 5,545 Prepaid sales tax91 121 Prepaid insurance1,431 651 Prepaid subscriptions1,434 960 Interest and dividend receivable1,923 1,714 Prepaid legal and consultants2,599 31 Other2,523 1,450 Total prepaid expenses and other current assets$26,777 $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): JUNE 30,2025DECEMBER 31,2024