Every 10-Q that Keros Therapeutics, Inc. (KROS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow KROS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KROS filings page.
Keros Therapeutics, a clinical-stage biopharmaceutical company focused on TGF-ß–related disorders, reported Q2 2026 with no revenue versus $18.2 million a year earlier, and first-half 2026 revenue of $0.4 million versus $229.4 million, reflecting the absence of prior-year Takeda license and service revenue.
Research and development expense fell to $22.3 million in Q2 2026 from $43.5 million as elritercept costs transitioned to Takeda and cibotercept spending declined; general and administrative expense decreased to $8.6 million. The company reported a Q2 net loss of $28.7 million and a first-half net loss of $52.4 million, compared with $117.8 million of net income in the prior-year period.
Cash and cash equivalents were $257.6 million as of June 30 2026, with total liabilities of $25.3 million, and management believes this will fund operations for at least 12 months. Elritercept is licensed globally (ex‑China) to Takeda, with potential milestones exceeding $1.1 billion; a $20 million development milestone was achieved in July 2026, of which 25% of net cash proceeds is expected to be distributed to stockholders. Lead asset rinvatercept is in a Phase 2 DMD trial with initial data expected in the first half of 2027, and regulatory engagement for an ALS Phase 2 study planned for the second half of 2026.
Keros Therapeutics reported a return to losses in early 2026 as one-time licensing revenue rolled off and it resumed a more typical R&D-focused profile. For the three months ended March 31, 2026, total revenue was $0.4 million, almost entirely from service and supply work under its Takeda and Hansoh collaborations, compared with $211.2 million a year earlier when it booked a large upfront license payment from Takeda.
Research and development expenses fell sharply to $16.1 million from $48.7 million as elritercept costs transitioned to Takeda, the cibotercept program wound down and prior restructuring reduced headcount. General and administrative costs were stable at $10.1 million. The company recorded a net loss of $23.7 million, or $1.21 per share, versus net income of $148.5 million, or $3.66 per share, in the prior-year quarter.
Keros ended the period with $281.5 million in cash and cash equivalents and $275.1 million of that in money market funds, and believes this balance will fund operations for at least 12 months. The business remains clinical-stage with no product sales, centered on rinvatercept for Duchenne muscular dystrophy and amyotrophic lateral sclerosis, and partnered elritercept for blood disorders. The company plans to start a Phase 2 trial of rinvatercept in Duchenne muscular dystrophy in the third quarter of 2026 and aims to share initial data in the first half of 2027.
Keros Therapeutics (KROS) filed its Q3 2025 report showing revenue of $14.3 million, driven by $10.0 million of license revenue and $4.3 million of service and other revenue. For the first nine months, revenue reached $243.7 million, reflecting the $200.0 million upfront from Takeda and a $10.0 million milestone after the first patient was dosed in the Phase 3 RENEW trial.
The company posted a Q3 net loss of $7.3 million, but delivered $110.5 million of net income year-to-date as licensing gains offset operating costs. Cash and cash equivalents were $693.5 million as of September 30, 2025. Operating expenses eased: research and development was $111.7 million year-to-date versus $128.0 million a year ago, aided by a workforce reduction plan (estimated $3.1 million in restructuring costs).
Keros advanced elritercept (KER-050) into Phase 3 under its Takeda agreement and plans a Phase 2 trial for KER-065 in Duchenne muscular dystrophy. Capital return actions included repurchasing 10,176,595 shares for $180.6 million at $17.75 per share and commencing an issuer tender offer of up to $194.4 million at the same price. Shares outstanding were 30,466,069 as of October 31, 2025.