Keros Therapeutics, Inc. filings document a clinical-stage biopharmaceutical issuer developing therapeutics that modulate transforming growth factor-beta family signaling. Its 8-K reports cover financial results, Regulation FD corporate presentations, clinical-program announcements, collaboration disclosures, and board composition changes, while exchange registration disclosures identify Nasdaq-listed common stock and preferred share purchase rights.
The company’s proxy materials describe stockholder voting matters, board and committee governance, director compensation, and executive compensation. They also disclose portfolio strategy, including prioritization of rinvatercept, discontinued internal development activities for cibotercept, and related governance oversight of the company’s research and development focus.
Madison Avenue International LP and affiliated entities reported a passive ownership stake in Keros Therapeutics, Inc. common stock. As of February 17, 2026, they beneficially owned 823,707 shares of Common Stock, representing about 2.7% of the company, based on 30,466,069 shares outstanding as of October 31, 2025.
The filing lists Madison Avenue International LP, Madison Avenue Partners, LP, EMAI Management, LLC, Madison Avenue GP, LLC, Caraway Jackson Investments LLC and Eli Samaha, who may each be deemed beneficial owners through their roles in the investment structure. They certify the shares are not held to change or influence control of Keros Therapeutics.
Keros Therapeutics, Inc. received an amended ownership report showing that Tang Capital and related entities no longer hold any of its common stock. The Schedule 13G/A (Amendment No. 1) reports that Tang Capital Management, Kevin Tang, and affiliated funds beneficially own 0 shares, representing 0% of the Keros common stock class as of the event date of 12/31/2025. The filing also confirms they have no sole or shared voting or dispositive power over any Keros shares and certifies the holdings are not intended to influence control of the company.
Keros Therapeutics, Inc. received an updated ownership filing from D. E. Shaw entities and David E. Shaw. As of December 31, 2025, they report beneficial ownership of 756,156 shares of common stock, representing 3.9% of the outstanding shares.
The filing shows no sole voting or dispositive power; all authority over these shares is shared through various D. E. Shaw investment vehicles. David E. Shaw may be deemed a beneficial owner through his control of related entities but expressly disclaims beneficial ownership. The reporting persons also certify the shares are not held to change or influence control of Keros.
The Vanguard Group reported beneficial ownership of 1,525,355 shares of Keros Therapeutics Inc common stock, representing 5% of the class as of 12/31/2025. Vanguard has shared voting power over 146,965 shares and shared dispositive power over all 1,525,355 shares, with no sole voting or dispositive power.
The shares are held for Vanguard’s clients, who have rights to dividends and sale proceeds, and no single client holds more than 5% of the class. Vanguard states the holdings are in the ordinary course of business and not for changing or influencing control of Keros. An internal realignment effective 01/12/2026 shifted portfolio management and proxy voting to certain subsidiaries, which are expected to report ownership on a disaggregated basis.
Keros Therapeutics, Inc. furnished an updated corporate presentation for use in meetings with investors, analysts and others. The company made this updated presentation available on its website and also attached it as Exhibit 99.1 to this current report. The presentation is dated January 2026 and is meant to provide additional background on the business.
The company states that the information in this report, including Exhibit 99.1, is being furnished under Regulation FD and is not considered filed for purposes of certain liability provisions of the Securities Exchange Act. It will only be incorporated into other securities filings if specifically referenced there.
Keros Therapeutics CEO Jasbir Seehra reported a performance-based stock option update. On January 7, 2026, he was credited with 62,500 employee stock options with an exercise price of $63.61 per share, following certification of performance conditions by the board’s compensation committee.
The original grant, reported in February 2024, covered options for 125,000 shares subject to performance goals. The committee determined that targets tied to 62,500 shares were achieved, causing 31,250 shares to vest immediately and scheduling another 31,250 to vest on December 31, 2026, if he remains in continuous service through that date. Performance conditions tied to the remaining 62,500 shares were not met, and that portion of the option was forfeited for no consideration.
Keros Therapeutics, Inc. director-affiliated investment entities reported selling common stock in connection with the company’s completion of a cash tender offer. OrbiMed-related funds disposed of 140,057 shares and 74,465 shares of Keros common stock at a price of $17.75 per share on 11/21/2025. Following these transactions, one OrbiMed fund reported indirect beneficial ownership of 759,155 shares, and another reported 45,057 shares, while the reporting entities each disclaim beneficial ownership beyond their pecuniary interest.
Keros Therapeutics director Carl L. Gordon reported indirect sales of Keros Therapeutics, Inc. common stock in connection with the company’s completion of a cash tender offer. On 11/21/2025, 140,057 shares of common stock were disposed of at $17.75 per share, leaving 759,155 shares beneficially owned indirectly. On the same date, an additional 74,465 shares were disposed of at $17.75 per share, leaving 45,057 shares beneficially owned indirectly.
The shares are held through OrbiMed-affiliated investment entities, including OrbiMed Private Investments VII, LP and OrbiMed Genesis Master Fund, L.P. Various OrbiMed general partners and OrbiMed Advisors LLC may be deemed to share voting and investment power over these holdings, but each related entity and person, including the reporting person, disclaims beneficial ownership beyond any pecuniary interest.
Keros Therapeutics, Inc. director reported share dispositions tied to the company’s cash tender offer. On 11/21/2025, the reporting person tendered 191,527 shares of common stock at $17.75 per share and separately tendered 130,494 shares at $17.75 per share, as noted in footnote (1) describing an issuer cash tender offer that began on October 20, 2025 and whose final results were announced on November 20, 2025. Following these transactions, the director beneficially owns 150,047 shares indirectly through Partners Innovation Fund, LLC, 102,233 shares indirectly through Partners Innovation Fund II, L.P., and 6,441 shares directly.
Keros Therapeutics, Inc. filed Amendment No. 2 to its Schedule TO, updating its issuer tender offer to repurchase up to 10,950,165 shares of common stock for a total of up to $194.4 million at $17.75 per share in cash, before taxes and without interest. The offer is being made under an Offer to Purchase and related Letter of Transmittal.
The amendment notes that on November 20, 2025 the company issued a press release announcing the final results of the tender offer, which expired at 5:00 p.m. New York City time on November 18, 2025, and files that press release as a new exhibit.