Keros Therapeutics Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
KROS$9.33+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| YEAR ENDED DECEMBER 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(152,992) | $(104,679) | $(58,744) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 815 | 674 | 378 |
| Loss on disposal of fixed asset | 4 | 12 | 46 |
| Stock-based compensation expense | 28,763 | 18,682 | 11,722 |
| Non-cash lease expense | 1,552 | 941 | 520 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (143) | 18,000 | (18,000) |
| Prepaid expenses and other current assets | (9,284) | (3,321) | (1,548) |
| Other assets | (478) | (1,574) | — |
| Accounts payable | 1,614 | (408) | 1,485 |
| Right-of-use assets and operating lease liabilities | 384 | (3,711) | (597) |
| Accrued expenses and other current liabilities | 5,257 | 5,322 | 2,652 |
| Other liabilities | — | — | (62) |
| Net cash used in operating activities | (124,508) | (70,062) | (62,148) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (2,464) | (1,241) | (1,024) |
| Net cash used in investing activities | (2,464) | (1,241) | (1,024) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of common stock, net of offering cost | 175,825 | 119,578 | 28,171 |
| Payment of issuance costs | (94) | (87) | — |
| Proceeds from exercise of stock options | 3,225 | 818 | 379 |
| Net cash provided by financing activities | 178,956 | 120,309 | 28,550 |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 51,984 | 49,006 | (34,622) |
| Cash, cash equivalents and restricted cash at beginning of year | 280,375 | 231,369 | 265,991 |
| Cash, cash equivalents and restricted cash at end of year | $332,359 | $280,375 | $231,369 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Property and equipment purchases still in accounts payable | $599 | $75 | $11 |
| Issuance cost still in accrued and accounts payable | $— | $63 | $75 |
| Right-of-use assets obtained in exchange for operating lease obligation | $1,338 | $15,423 | $— |
The following table provides a reconciliation of the cash and cash equivalents and restricted cash as of each of the periods shown above:
| YEAR ENDED DECEMBER 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash and cash equivalents | $331,147 | $279,048 | $230,042 |
| Restricted cash | 1,212 | 1,327 | 1,327 |
| Total cash, cash equivalents and restricted cash | $332,359 | $280,375 | $231,369 |
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