ORBIMED ADVISORS LLC - 21 Nov 2025 Form 4 Insider Report for Keros Therapeutics, Inc. (KROS)

Role
Director
Signature
/s/ Carl L. Gordon, Member of OrbiMed Advisors LLC
Issuer symbol
KROS
Transactions as of
21 Nov 2025
Net transactions value
-$3,807,766
Form type
4
Filing time
18 Dec 2025, 16:34:22 UTC
Previous filing
27 Oct 2025
Next filing
26 Nov 2025

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
ORBIMED ADVISORS LLC Director 601 LEXINGTON AVENUE, 54TH FLOOR, NEW YORK /s/ Carl L. Gordon, Member of OrbiMed Advisors LLC 18 Dec 2025 0001055951
OrbiMed Capital GP VII LLC Director 601 LEXINGTON AVENUE, 54TH FLOOR, NEW YORK /s/ Carl L. Gordon, Member of OrbiMed Capital GP VII LLC 18 Dec 2025 0001760648
OrbiMed Genesis GP LLC Director 601 LEXINGTON AVENUE, 54TH FLOOR, NEW YORK /s/ Carl L. Gordon, Member of OrbiMed Genesis GP LLC 18 Dec 2025 0001808744

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KROS Common Stock Disposed to Issuer $2,486,012 -140,057 -16% $17.75 759,155 21 Nov 2025 See footnotes F1, F2, F4
transaction KROS Common Stock Disposed to Issuer $1,321,754 -74,465 -62% $17.75 45,057 21 Nov 2025 See footnotes F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Disposed of in connection with the Issuer's completion of a cash tender offer.
F2 These securities are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("OrbiMed GP") is the general partner of OPI VII and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of OrbiMed GP. By virtue of such relationships, OrbiMed GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F3 These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis and OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by Genesis.
F4 This report on Form 4 is jointly filed by OrbiMed Advisors, OrbiMed GP, and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated a representative, Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.