Keros Therapeutics Inc 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number: 001-39264________________________________________ KEROS THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Tel: (617) 314-6297 (Registrant's telephone number, including area code)________________________________________ Name of each exchange on which registered The Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.☑Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).☑Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" inRule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☑No As of May 8, 2026, there were 19,791,837 outstanding shares of the registrant's common stock, par value $0.0001 per share. TABLE OF CONTENTS SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSSPECIAL NOTE REGARDING COMPANY REFERENCESSPECIAL NOTE REGARDING TRADEMARKSSUMMARY OF SELECTED RISKS ASSOCIATED WITH OUR BUSINESS 2334 PART I.FINANCIAL INFORMATION5Item 1.Financial Statements (Unaudited)5Condensed Consolidated Balance Sheets5Condensed Consolidated Statements of Operations6Condensed Consolidated Statements of Stockholders’ Equity7Condensed Consolidated Statements of Cash Flows8Notes to Condensed Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations20Item 3.Quantitative and Qualitative Disclosures About Market Risk29Item 4.Controls and Procedures29 PART II.OTHER INFORMATION30Item 1.Legal Proceedings30Item 1A.Risk Factors30Item 2.Unregistered Sales of Equity Securities and Use of Proceeds84Item 3.Defaults Upon Senior Securities85Item 4.Mine Safety Disclosures85Item 5.Other Information85Item 6.Exhibits86Signatures SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. All statements other than statements of historical facts contained in this Quarterly Report onForm 10-Q are forward-looking statements, including statements about: ▪the timing of initiation of and the timing of announcement of data from our Phase 2 clinical trial of our lead productcandidate, rinvatercept (KER-065), in patients with Duchenne muscular dystrophy;▪the timing of engagement with regulators on the planned Phase 2 clinical trial of rinvatercept in patients withamyotrophic lateral sclerosis;▪plans of Takeda Pharmaceuticals U.S.A., Inc., or Takeda, to advance elritercept (KER-050) into a Phase 3 clinical trialin patients with myelodysplastic syndromes;▪risks associated with public health crises, which may adversely impact our business, preclinical studies and clinicaltrials;▪our ability to receive the required regulatory approvals and clearances to successfully market and sell our products, ifapproved in the United States and certain other countries;▪our ability to successfully advance our pipeline of additional product candidates;▪our ability to develop sales and marketing capabilities;▪the rate and degree of market acceptance of any products we are able to commercialize;▪the effects of increased competition as well as innovations by new and existing competitors in our market;▪our ability to obtain funding for our operations;▪the sufficiency of our existing capital resources;▪our ability to establish and maintain collaborations;▪our ability to effectively manage our anticipated growth;▪our ability to maintain, protect and enhance our intellectual property rights and proprietary technologies;▪our ability to operate our business without infringing the intellectual propert