Keros Therapeutics (KROS) Research & Development (2019 - 2025)
Keros Therapeutics posted quarterly Research & Development of $17.9 million for Q4 2025, down 60.75% year-on-year from $45.6 million in Q4 2024, and down 8.23% on a QoQ basis from $19.5 million in Q3 2025.
Keros Therapeutics (KROS) has 7 years of Research & Development data on file, last reported at $17.9 million in Q4 2025.
- For the quarter ending Q4 2025, Research & Development fell 60.75% year-over-year to $17.9 million; the trailing twelve-month figure through Dec 2025 stood at $129.6 million (down 25.33% YoY), and the FY2025 full-year result was $129.6 million, down 25.33% from the prior year.
- Research & Development for Q4 2025 stood at $17.9 million, down from $19.5 million in the prior quarter.
- Across five years, Research & Development topped out at $49.2 million in Q3 2024 and bottomed at $10.0 million in Q2 2021.
- The 5-year median for Research & Development is $28.0 million (2022), against an average of $29.0 million.
- The widest annual swing landed in 2022, when Research & Development surged 133.21%; it then sank 60.75% in 2025.
- A 5-year view of Research & Development shows it stood at $18.8 million in 2021, then soared by 32.04% to $24.9 million in 2022, then surged by 50.77% to $37.5 million in 2023, then increased by 21.71% to $45.6 million in 2024, then tumbled by 60.75% to $17.9 million in 2025.
- The last three Research & Development figures came in at $17.9 million (Q4 2025), $19.5 million (Q3 2025), and $43.5 million (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Quantum Biopharma | 961,148.99 Bn | 961,148.98 Bn | - | 626,092.00 |
| 2 | Alterity Therapeutics | 744,933.29 Bn | 744,933.26 Bn | - | 4.32 Mn |
| 3 | Legend Biotech | 2,540.00 Bn | 2,539.71 Bn | 242.10 Mn | -101.30 Mn |
| 4 | Nanobiotix | 2,199.85 Bn | 2,199.78 Bn | - | - |
| 5 | Akari Therapeutics | 1,635.88 Bn | 1,635.88 Bn | - | 1.46 Mn |
| 6 | Vertex Pharmaceuticals | 111.32 Bn | 104.07 Bn | 2.59 Bn | 961.60 Mn |
| 7 | Evaxion A | 62.56 Bn | 62.54 Bn | - | -2.30 Mn |
| 8 | Regeneron Pharmaceuticals | 62.55 Bn | 53.79 Bn | 3.31 Bn | 1.54 Bn |
| 9 | Alnylam Pharmaceuticals | 39.57 Bn | 36.56 Bn | 959.66 Mn | 364.87 Mn |
| 10 | Keros Therapeutics | 403.85 Mn | 116.45 Mn | - | 17.91 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 17.91 Mn |
| Sep 30, 2025 | 19.52 Mn |
| Jun 30, 2025 | 43.50 Mn |
| Mar 31, 2025 | 48.71 Mn |
| Dec 31, 2024 | 45.63 Mn |
| Sep 30, 2024 | 49.23 Mn |
| Jun 30, 2024 | 40.52 Mn |
| Mar 31, 2024 | 38.26 Mn |
| Dec 31, 2023 | 37.49 Mn |
| Sep 30, 2023 | 34.14 Mn |
| Jun 30, 2023 | 32.53 Mn |
| Mar 31, 2023 | 31.09 Mn |
| Dec 31, 2022 | 24.87 Mn |
| Sep 30, 2022 | 21.04 Mn |
| Jun 30, 2022 | 23.28 Mn |
| Mar 31, 2022 | 18.08 Mn |
| Dec 31, 2021 | 18.83 Mn |
| Sep 30, 2021 | 14.83 Mn |
| Jun 30, 2021 | 9.98 Mn |
| Mar 31, 2021 | 11.50 Mn |
| Dec 31, 2020 | 9.67 Mn |
| Sep 30, 2020 | 8.40 Mn |
| Jun 30, 2020 | 7.26 Mn |
| Mar 31, 2020 | 8.53 Mn |
| Dec 31, 2019 | 4.16 Mn |
| Sep 30, 2019 | 3.85 Mn |
| Jun 30, 2019 | 4.50 Mn |
| Mar 31, 2019 | 4.87 Mn |