KROS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-14

• as none of our product candidates have been approved for commercialization. We have historically financed our operations primarily through the sale of convertible preferred stock, common stock and cash received from licensing agreements.

• In December 2022, we filed a prospectus supplement to our registration statement on Form S-3ASR with the Securities and Exchange Commission, or the SEC, for the issuance and sale, if any, of up to $250.0 million of shares of our common stock pursuant to a sales agreement with Leerink Partners LLC, o…

• Under the ATM Sales Agreement, Leerink may sell the ATM Shares by methods deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) promulgated under the Securities Exchange Act of 1934, as amended. We may sell the ATM Shares in amounts and at times to be determined by us from time to ti…

• On October 15, 2025, we entered into the Repurchase Agreements with the ADAR1 Parties and the Pontifax Parties. Pursuant to the terms and conditions of the Repurchase Agreements, the ADAR1 Parties and the Pontifax Parties sold all of the shares of our common stock beneficially owned by them, being a…

• Pursuant to the Repurchase Agreements, each of the ADAR1 Parties and the Pontifax Parties agreed to customary standstill restrictions and voting commitments, which will remain in effect until immediately following the final certification of the voting results for our 2028 annual stockholder meeting.…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• In December 2022, we filed a prospectus supplement to our registration statement on Form S-3ASR with the SEC for the issuance and sale, if any, of up to $250.0 million of shares of our common stock pursuant to a sales agreement with Leerink Partners LLC, or Leerink, as sales agent, which we refer to…

• Under the ATM Sales Agreement, Leerink may sell the ATM Shares by methods deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) promulgated under the Securities Exchange Act of 1934, as amended. We may sell the ATM Shares in amounts and at times to be determined by us from time to ti…

• sold a total of 4,290,096 shares of our common stock pursuant to the ATM Offering for aggregate net proceeds of approximately $228.6 million after deducting sales agent commissions and estimated offering expenses. As of September 30, 2025, we may not offer and sell any ATM shares.

• On January 8, 2024, we closed an underwritten public offering in which we issued and sold 4,025,000 shares of common stock, which included 525,000 shares of common stock issued and sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering pric…

• We have incurred recurring operating losses each fiscal year since inception in 2015. Our ability to generate product revenue sufficient to achieve profitability will depend on the successful development and commercialization of one or more of our product candidates. Our net loss was $7.3 million fo…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We are a "”smaller reporting company,” as defined in Item 10(f)(1) of Regulation S-K. As a result, pursuant to Item 305(e) of Regulation S-K, we are not required to provide the information required by this Item 3.

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• We are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily the result of interest rate sensitivities.

• As of September 30, 2025 and December 31, 2024, we had cash and cash equivalents of $693.5 million and $559.9 million, respectively. Our exposure to interest rate sensitivity is impacted by changes in the underlying U.S. bank interest rates. Our surplus cash has been invested in money market fund ac…

• As of September 30, 2025 and December 31, 2024, we had no debt outstanding that is subject to interest rate variability. Therefore, we are not subject to interest rate risk related to debt.

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We maintain “disclosure controls and procedures,” as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Exchange Act that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarize…

• forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our management, including our pri…

• Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2026. Based on the evaluation of our disclosure controls and procedures as of March 31, 2026, our Chief Executi…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• We maintain “disclosure controls and procedures,” as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Exchange Act that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarize…

• Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of September 30, 2025. Based on the evaluation of our disclosure controls and procedures as of September 30, 2025, our Chief…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• year ended December 31, 2025. For the three months ended March 31, 2026, we reported a net loss of $23.7 million and as of March 31, 2026, we had an accumulated deficit of $505.5 million. We expect to continue to incur significant losses for the foreseeable future, and we expect these losses to incr…

• ■commence our Phase 2 clinical trial of rinvatercept in patients with amyotrophic lateral sclerosis, or ALS;

• ■commence a Phase 3 clinical trial of elritercept in patients with lower-risk myelodysplastic syndrome, or MDS;

• terms, we could be forced to delay, reduce or eliminate our product development programs or any future commercialization efforts.

• As of March 31, 2026, we had $281.5 million in cash and cash equivalents. Based on our current operating assumptions, we expect that our existing cash and cash equivalents as of March 31, 2026 will enable us to fund our operating expenses and capital expenditure requirements into the first half of 2…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• ■continue the research and development of our other clinical- and preclinical-stage product candidates and discovery-stage programs;

• collaboration arrangements may not be sufficient to sustain our operations. If we do achieve profitability, we may not be able to sustain or increase profitability on a quarterly or annual basis. Our failure to become and remain profitable would decrease the value of our company and could impair our…

• As of September 30, 2025, we had $693.5 million in cash and cash equivalents. Based on our current operating assumptions, we expect that our existing cash and cash equivalents as of September 30, 2025, less $375.0 million of excess capital that our board of directors has determined to return to stoc…

• delays in completing, or ultimately be unable to complete, the development and commercialization of KER-065, elritercept or any future product candidates.

• Clinical testing is expensive and can take many years to complete, and its outcome is inherently uncertain. Failure can occur at any time during the clinical trial process and our future clinical trial results may not be successful. We cannot guarantee that any of our ongoing and planned clinical tr…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• During the three months ended March 31, 2026, the following director of the Company adopted a “Rule 10b5-1 trading arrangement,” as that term is defined in Item 408(a) of Regulation S-K, which was entered into during an open trading window in accordance with the Company’s Insider Trading Policy and …

• •On March 12, 2026, Charles Newton, a member of our board of directors, adopted a Rule 10b5-1 trading plan that provides for the sale of up to 2,201 shares of our common stock to be acquired upon the settlement of RSUs. The plan will expire on February 28, 2027, subject to early termination for cert…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• During the three months ended September 30, 2025, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-rule 10b5-1 trading arrangement,” as each term is defined in item 408(a) of Regulation S-K.