analyzeportfolio
Nasdaq · Healthcare

Keros Therapeutics, Inc. (KROS)

As-reported financials and SEC filings for Keros Therapeutics, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Keros Therapeutics, Inc.

Keros Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel therapeutics targeting the transforming growth factor-beta (TGF-ß) family of proteins. Its main product candidates include rinvatercept, aimed at treating neuromuscular diseases such as Duchenne muscular dystrophy and amyotrophic lateral sclerosis, and elritercept, designed to treat low blood cell counts in patients with myelodysplastic syndromes and myelofibrosis. The company serves patients with disorders linked to dysfunctional TGF-ß signaling, focusing on muscle, bone, and blood-related conditions.

Snapshot

Revenue
$243.9M
Revenue growth (YoY)
6769.4%
Net income
$87.0M
Diluted EPS
$2.30
Gross margin
Operating margin
27.7%
Net margin
35.7%
FCF margin
43.4%
ROE
28.7%
net income / fiscal-year-end equity
P/E
4.8×
trailing when available, otherwise FY EPS
Market cap
$220.5M
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Keros Therapeutics

  • Revenue grew 6769.4% to $244M in FY2025, faster than the 2251.0% the year before.
  • Operating margin turned positive at 27.7% in FY2025, from a 280.5% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $0, down 100.0% from Q2 FY2025.
  • Free cash flow was $106M in FY2025, 43.4% of revenue.
  • Net income turned positive at $87M in FY2025, from a $187M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Keros Therapeutics’s fundamentals sit among the 198 pharmaceutical companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin27.7%
90th percentile of 113
Net margin35.7%
88th percentile of 122
FCF margin43.4%
97th percentile of 110
Revenue growth (YoY)+6769.4%
98th percentile of 187
ROE28.7%
89th percentile of 167
P/E4.8×
8th percentile of 60
Short interest4.73d
40th percentile of 197

Keros Therapeutics’s revenue growth of +6769.4% ranks in the 98th percentile of the 187 pharmaceutical companies reporting it. Keros Therapeutics’s FCF margin of 43.4% ranks in the 97th percentile of the 110 pharmaceutical companies reporting it. Keros Therapeutics’s P/E of 4.8 ranks in the 8th percentile of the 60 peers with a meaningful P/E.

3 reported insider purchases (code P) totaling $31,070 in the last 90 days, against 8 sales totaling $191,130. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 7 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+7 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
5
5 trimmed, 0 exited
Combined position
$26.0M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$10.4M967.9KAdded
Citadel AdvisorsquantQ2 2026$4.2M396.1KReduced
Renaissance TechnologiesquantQ2 2026$3.8M359.1KReduced
D. E. ShawquantQ2 2026$2.9M267.5KReduced
Two Sigma InvestmentsquantQ2 2026$2.6M246.6KReduced
Millennium ManagementquantQ2 2026$2.0M184.8KAdded
Point72 Asset ManagementquantQ2 2026$111,20510.4KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
3
1 insider
Bought (90d)
$31K
code P value
Sells (90d)
8
$191K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-18
filed 2026-08-20
Cho EstherChief Legal OfficerSell4.5K$10.29$46K
2026-08-18
filed 2026-08-20
Lerner Lorena RaquelChief Scientific OfficerSell3.6K$10.29$37K
2026-08-18
filed 2026-08-20
Tanini AnnitaCorp. Controller & VP, FinanceSell1.2K$10.29$13K
2026-08-18
filed 2026-08-20
Newton Charles W.DirectorSell551$10.30$6K
2026-08-17
filed 2026-08-19
BIENAIME JEAN JACQUESDirectorBuy1.0K$10.27$10K
2026-07-15
filed 2026-07-17
BIENAIME JEAN JACQUESDirectorBuy1.0K$10.61$11K
2026-06-15
filed 2026-06-17
BIENAIME JEAN JACQUESDirectorBuy1.0K$10.19$10K
2026-06-11
filed 2026-06-15
Newton Charles W.DirectorSell550$10.04$6K
2026-06-04
filed 2026-06-08
Farzan NimaDirectorSell2.6K$10.73$28K
2026-06-04
filed 2026-06-08
Knowles JuliusDirectorSell2.6K$10.73$28K
2026-06-04
filed 2026-06-05
Seth AlpnaDirectorSell2.6K$10.72$28K
2026-05-15
filed 2026-05-19
BIENAIME JEAN JACQUESDirectorBuy1.0K$10.58$11K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.1M
settled 2026-08-14
Change vs prior
+16.6%
vs previous settlement
Days to cover
4.73
at avg daily volume
Avg daily volume
243.0K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-141.1M+16.6%4.73
2026-07-31985.6K-6.9%5.92
2026-07-151.1M+3.2%4.08
2026-06-301.0M-27.1%2.54
2026-06-151.4M-6.7%6.60
2026-05-291.5M-11.5%4.54
2026-05-151.7M+20.4%4.65
2026-04-301.4M+1.2%5.36

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$243.9M$3.5M$151,000$0$20.1M
Gross profit
Operating income$67.6M$-210.8M$-169.9M$-114.8M$-56.4M
Net income$87.0M$-187.4M$-153.0M$-104.7M$-58.7M
Diluted EPS$2.30$-5.00$-5.20$-4.15$-2.52

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$287.4M$559.9M$331.1M$279.0M$230.0M
Current assets$315.4M$588.9M$347.3M$285.8M$251.4M
Total assets$338.0M$615.9M$370.0M$306.8M$255.3M
Current liabilities$20.4M$27.4M$24.4M$16.5M$11.8M
Long-term debt
Total liabilities$34.9M$44.3M$37.8M$29.4M$12.1M
Total equity$303.1M$571.6M$332.2M$277.4M$243.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$107.5M$-160.9M$-124.5M$-70.1M$-62.1M
Capital expenditure$1.6M$1.9M$2.5M$1.2M$1.0M
Free cash flow$106.0M$-162.8M$-127.0M$-71.3M$-63.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$0-100.0%$-28.7M$-1.45
Q1 FY2026$367,000-99.8%$-23.7M$-1.21
Q4 FY2025$188,000-93.8%$-23.5M$-0.84
Q3 FY2025$14.3M3575.8%$-7.3M$-0.18
Q2 FY2025$18.2M49002.7%$-30.7M$-0.76
Q1 FY2025$211.2M254413.3%$148.5M$3.62
Q4 FY2024$3.0M$-46.0M$-1.14
Q3 FY2024$388,0004750.0%$-53.0M$-1.41

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryPharmaceutical Preparations
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2016
SEC CIK1664710

Selected SEC filings

10-K2026-03-04
View on EDGAR →
10-Q2026-08-03
View on EDGAR →
10-Q2026-05-14
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-07-30
View on EDGAR →
8-K2026-07-22
View on EDGAR →

Largest pharmaceutical peers

All pharmaceutical stocksAll Healthcare companies →

Monitor KROS

Get an alert when Keros Therapeutics files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor KROS free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.