Kymera Therapeutics, Inc. (KYMR) reported on Wednesday second quarter financial results, reflecting narrower net loss, primarily driven by a higher collaboration revenue. The company also provided business highlights and upcoming milestones.
Company Profile
Kymera Therapeutics is a clinical-stage biotechnology company developing oral targeted protein degraders for immune-inflammatory diseases. Its pipeline includes KT-621 for atopic dermatitis and asthma, KT-579 for Lupus and other autoimmune diseases, and KT-485, partnered with Sanofi, for inflammatory disorders.
FY26 Second Quarter Highlights
Net loss attributable to common stockholders narrowed to $61.21 million, or $0.62 per share from loss of $76.61 million, or $0.95 per share, in the prior-year quarter.
The narrower quarterly loss is attributed to a $65 million collaboration revenue recognized for the current quarter. It consists of a $45 million option exercise fee with respect to Gilead Sciences collaboration and a $20 million milestone payment received from Sanofi.
Cash, cash equivalents and investments totalled $1.5 billion as of June 30, 2026. The company expects the cash runway to fund multiple clinical pipeline through 2029.
Business Highlights
Partnered programs
Sanofi initiated the Phase 1 trial of KT-485, an oral IRAK4 degrader, triggering a $20 million milestone payment to Kymera.
Gilead also exercised its option to license KT-200, a CDK2 molecular glue degrader for solid tumors, resulting in a $45 million milestone payment. Gilead expects to progress the program into IND-enabling studies to support an IND filing in 2027.
Clinical Highlights & Upcoming Milestones
KT-621 (STAT6 degrader) In Atopic Dermatitis And Asthma
Enrollment in the BROADEN2 Phase 2b trial in moderate-to-severe atopic dermatitis was completed nearly six months ahead of schedule, accelerating the expected top-line data readout to year-end 2026 from mid-2027. Subject to regulatory discussions, Phase 3 trials are expected to begin by mid-2027.
The company continues enrollment in the BREADTH Phase 2b trial evaluating KT-621 in moderate-to-severe eosinophilic asthma, with top-line data expected in late 2027.
KT-579 (IRF5 degrader) In Lupus
In the Phase 1 trial healthy volunteer enrollment is ongoing for Lupus and other autoimmune diseases, with data expected in the fourth quarter of 2026.
The company also plans to initiate a Phase 1b proof-of-concept trial in Lupus following completion of the Phase 1 study.
KYMR is trading up 2.26% at $106.75.
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