8 unchanged sentences
The payment of dividends will be at the discretion of our board of directors and will depend on our results of operations, capital requirements, financial condition, prospects, contractual arrangements, any limitations on payment of dividends present in any future debt agreements and other factors that our board of directors may deem relevant.
−Removed: Stock Performance Graph
−Removed: This performance graph below shall not be deemed "soliciting material" or to be "filed" with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into this Annual Report on Form 10-K or any other filing of Keros Therapeutics, Inc.
−Removed: under the Exchange Act or the Securities Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing, except to the extent that we specifically incorporate this information by reference therein.
−Removed: The graph set forth below compares the cumulative total stockholder return on our common stock between April 8, 2020 (the date our common stock commenced trading on the Nasdaq Global Market) and December 31, 2024, with the cumulative total return of (a) the Nasdaq Composite Index and (b) the Nasdaq Biotechnology Index, over the same period.
−Removed: This graph assumes the investment of $100 on April 8, 2020 in our common stock, the Nasdaq Composite Index, and the Nasdaq Biotechnology Index and assumes the reinvestment of dividends, if any.
−Removed: The graph assumes our closing sales price on April 8, 2020 of $20.08 per share as the initial value of our common stock and not the initial offering price to the public of $16.00 per share.
−Removed: The comparisons shown in the graph below are based upon historical data.
−Removed: We caution that the stock price performance shown in the graph below is not necessarily indicative of, nor is it intended to forecast, the potential future performance of our common stock.
Recent Sales of Unregistered Securities
1 unchanged sentence
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
+Added: Our stock repurchase activity for each of the three months in the quarter ended December 31, 2025 was:
+Added: Total Number of Shares Purchased
+Added: Average Price Paid per Share
+Added: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
+Added: Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
+Added: October 1-31, 2025 10,176,595(1)(2) $ 17.75 10,176,595 $ —
+Added: November 1-30, 2025 10,950,165(3) 17.75 10,950,165 —
+Added: December 1-31, 2025 — — — —
+Added: Total 21,126,760 21,126,760
+Added: (1) On October 15, 2025, we entered into stock purchase agreements with certain entities affiliated with ADAR1 Capital Management (collectively the “ADAR1 Parties”, and such stock purchase agreement, the “ADAR1 Repurchase Agreement”), and certain entities affiliated with Pontifax Venture Capital (collectively, the “Pontifax Parties”, and such stock purchase agreement, the “Pontifax Repurchase Agreement” and, together with the ADAR1 Repurchase Agreement, the “Repurchase Agreements”).
+Added: Pursuant to the terms and conditions of the Repurchase Agreements, the ADAR1 Parties and the Pontifax Parties sold all of the shares of common stock beneficially owned by them, being an aggregate of 10,176,595 shares of common stock, to us at a per share purchase price of $17.75 per share, for an aggregate purchase price of $180.6 million.
+Added: (2) On October 20, 2025, we announced that our board of directors authorized the repurchase of up to $194.4 million shares of our common stock at a cash purchase price of $17.75 per share, through a tender offer, which we refer to as the Tender Offer.
+Added: We launched the Tender Offer on October 20, 2025 and it was completed on November 21, 2025.
+Added: (3) On November 20, 2025, we disclosed that a total of 17,712,262 shares of our common stock were validly tendered and not validly withdrawn.
+Added: In accordance with the terms and conditions of the Tender Offer, we accepted for purchase a total of 10,950,165 shares of common stock, or the Tender Offer Shares, at a purchase price of $17.75 per share, for an aggregate purchase price of approximately $194.4 million, excluding fees and expenses of $9.6 million relating to the Repurchase Agreements and the Tender Offer.
+Added: As a result of the Tender Offer, we had 19,543,706 shares of common stock outstanding immediately following the closing of the Tender Offer.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.