Keros Therapeutics, Inc. received an updated ownership report from ExodusPoint-related entities. As of December 31, 2025, ExodusPoint Capital Management, LP, ExodusPoint Capital Partners GP, LLC, and Michael Gelband together may be deemed to beneficially own 13,360 shares of Keros common stock, representing approximately 0.04% of the outstanding shares.
The shares are held directly by ExodusPoint Partners Master Fund, LP, while ExodusPoint Capital Management has investment and voting power under an investment management agreement. ExodusPoint Capital Partners is the general partner of ExodusPoint Capital Management, and Gelband controls both entities. The filers certify that the securities are not held to change or influence control of Keros.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Keros Therapeutics, Inc.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
492327101
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
492327101
1
Names of Reporting Persons
ExodusPoint Capital Management, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
13,360.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,360.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,360.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.04 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP No.
492327101
1
Names of Reporting Persons
ExodusPoint Capital Partners GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
13,360.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,360.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,360.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.04 %
12
Type of Reporting Person (See Instructions)
CO, HC
SCHEDULE 13G
CUSIP No.
492327101
1
Names of Reporting Persons
Michael Gelband
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
13,360.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,360.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,360.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.04 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Keros Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
1050 Waltham Street, Suite 302, Lexington, Massachusetts, 02421
Item 2.
(a)
Name of person filing:
This statement is filed by (each, a "Reporting Person" and, collectively, the "Reporting Persons"): (i) ExodusPoint Capital Management, LP ("ExodusPoint Capital Management") with respect to shares of Common Stock, $0.0001 par value per share ("Shares") of the Issuer held by ExodusPoint Partners Master Fund, LP, an investment fund it manages ("ExodusPoint Master Fund"); (ii) ExodusPoint Capital Partners GP, LLC ("ExodusPoint Capital Partners") with respect to Shares held by ExodusPoint Master Fund; and (iii) Michael Gelband ("Mr. Gelband"), with respect to Shares beneficially owned by ExodusPoint Capital Management and ExodusPoint Capital Partners.
ExodusPoint Capital Management, ExodusPoint Capital Partners, and Mr. Gelband have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of ExodusPoint Capital Management, ExodusPoint Capital Partners, and Mr. Gelband is 65 East 55th Street, New York, NY 10022.
(c)
Citizenship:
ExodusPoint Capital Management is a Delaware limited partnership. ExodusPoint Capital Partners is a Delaware limited liability company. Mr. Gelband is a United States citizen.
(d)
Title of class of securities:
Common Stock, $0.0001 par value per share
(e)
CUSIP No.:
492327101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of December 31, 2025, each of the Reporting Persons may be deemed the beneficial owner of 13,360 Shares, which are held directly by ExodusPoint Master Fund.
ExodusPoint Capital Management, ExodusPoint Capital Partners, and Mr. Gelband directly own no Shares. Pursuant to an investment management agreement, ExodusPoint Capital Management maintains investment and voting power with respect to the securities held by ExodusPoint Master Fund. ExodusPoint Capital Partners is the general partner of ExodusPoint Capital Management. Mr. Gelband controls each of ExodusPoint Capital Management and ExodusPoint Capital Partners.
(b)
Percent of class:
As of December 31, 2025, each of the Reporting Persons may be deemed to beneficially own approximately 0.04% of the Shares outstanding.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0.00
(ii) Shared power to vote or to direct the vote:
13,360.00
(iii) Sole power to dispose or to direct the disposition of:
0.00
(iv) Shared power to dispose or to direct the disposition of:
13,360.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
ExodusPoint Master Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See disclosure in Item 4 hereof.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
ExodusPoint Capital Management, LP
Signature:
/s/ Timothy Cruise
Name/Title:
Timothy Cruise, Authorized Signatory
Date:
02/17/2026
ExodusPoint Capital Partners GP, LLC
Signature:
/s/ Timothy Cruise
Name/Title:
Timothy Cruise, Authorized Signatory
Date:
02/17/2026
Michael Gelband
Signature:
/s/ Michael Gelband
Name/Title:
Michael Gelband
Date:
02/17/2026
Exhibit Information
Exhibit 1: Joint Filing Agreement, dated February 17, 2026
What ownership in Keros Therapeutics (KROS) is reported in this Schedule 13G/A?
The filing reports beneficial ownership of 13,360 shares of Keros Therapeutics common stock, about 0.04% of the outstanding class. All shares are held by ExodusPoint Partners Master Fund, LP, with control attributed to affiliated ExodusPoint entities and Michael Gelband.
Who are the reporting persons in the Keros Therapeutics (KROS) Schedule 13G/A?
The reporting persons are ExodusPoint Capital Management, LP, ExodusPoint Capital Partners GP, LLC, and Michael Gelband. They file jointly, reflecting control relationships over ExodusPoint Partners Master Fund, LP, which directly holds the reported Keros Therapeutics shares.
As of what date does the reported Keros Therapeutics (KROS) ownership apply?
The reported ownership is stated as of December 31, 2025. On that date, the ExodusPoint-related reporting persons may be deemed to beneficially own 13,360 Keros Therapeutics common shares, representing approximately 0.04% of the company’s outstanding common stock.
Are the ExodusPoint filers seeking control of Keros Therapeutics (KROS)?
The filers certify they did not acquire and do not hold the securities to change or influence control of Keros Therapeutics. They state the holdings are not part of any transaction intended to affect control, aside from limited proxy-nomination activities referenced in the certification.
Who directly holds the Keros Therapeutics (KROS) shares reported in this 13G/A?
The 13,360 Keros Therapeutics shares are held directly by ExodusPoint Partners Master Fund, LP. ExodusPoint Capital Management has investment and voting power under an investment management agreement, while ExodusPoint Capital Partners and Michael Gelband are listed due to their control relationships.
What level of voting and dispositive power is reported over Keros Therapeutics (KROS) shares?
Each reporting person shows zero sole voting and dispositive power and 13,360 shares of shared voting and dispositive power. This reflects shared authority over how the Keros Therapeutics shares are voted and whether, and how, they may be sold or otherwise disposed of.
