Keros Therapeutics (KROS) Research & Development (2019 - 2026)
Keros Therapeutics' (KROS) quarterly Research & Development came in at $17.9 million in Q4 2025, down 60.75% YoY 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) Research & Development (2019 - 2026) Analysis & Trends
Keros Therapeutics (KROS) has 7 years of Research & Development data on file, last reported at $17.9 million in Q4 2025.
- Quarterly Research & Development fell 60.75% year-over-year to $17.9 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $129.6 million (down 25.33% YoY) and the FY2025 annual result came in at $129.6 million, down 25.33% from the prior year.
- Research & Development retreated to $17.9 million in Q4 2025, from $19.5 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $49.2 million in Q3 2024 to a low of $10.0 million in Q2 2021.
- A 5-year average of $29.0 million and a median of $28.0 million in 2022 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2022 — Research & Development surged 133.21% — and 2025, when it tumbled 60.75%.
- Tracing KROS's Research & Development over 5 years: stood at $18.8 million in 2021, then surged by 32.04% to $24.9 million in 2022, then jumped by 50.77% to $37.5 million in 2023, then grew by 21.71% to $45.6 million in 2024, then plunged 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 1.37 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 651.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 612.28 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 413.13 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 210.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 97.90 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -588.31 Mn |
| 10 | Keros Therapeutics | 217.21 Mn | -40.40 Mn | - | 22.33 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 22.33 Mn |
| 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 |