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Core Insights - Kymera Therapeutics (KYMR) reported a wider fourth-quarter 2025 loss of 97 cents per share, exceeding the Zacks Consensus Estimate of a loss of 77 cents, and a deterioration from a loss of 88 cents per share in the same quarter last year [1][7] - The company's collaboration revenues were $2.9 million, significantly below the Zacks Consensus Estimate of $30 million, and down from $7.4 million in the year-ago quarter [2][5] - Kymera's shares have increased by 214.2% over the past year, outperforming the industry average rise of 18.6% [2] Financial Performance - Research and development (R&D) expenses rose to $83.8 million, a 16.7% increase year over year, driven by investments in the STAT6 program and other discovery initiatives [3][14] - General and administrative expenses increased by 3.7% year over year to $16.9 million, influenced by higher legal and professional service fees, as well as increased personnel and facility costs [4] - For the full year 2025, revenues decreased by 16.8% to $39.2 million, missing the Zacks Consensus Estimate of $54.7 million, while loss per share increased to $3.69 from $2.98 in 2024 [5] Capital and Funding - In December 2025, Kymera completed an underwritten equity offering that generated approximately $692 million in gross proceeds, raising year-end cash to about $1.6 billion and extending the cash runway into 2029 [4][14] Pipeline Developments - Kymera is advancing its targeted protein degradation (TPD) strategy, with KT-621 in phase 2 development for atopic dermatitis and asthma, showing promising results in recent studies [8][9] - The BROADEN2 phase IIb study for KT-621 has been expanded to include adolescents, with data expected from mid- to late-2027 [10] - KT-579, an oral IRF5 degrader, has begun phase 1 trials following FDA clearance, with results anticipated in the second half of 2026 [11] - The partnered program KT-485/SAR447971 is expected to enter clinical trials in 2026, while preclinical work continues on an oral CDK2 program with Gilead [12][13] Investment Thesis - The investment thesis focuses on the execution of Kymera's pipeline in targeted protein degradation, particularly the progress of KT-621, which could positively impact stock performance [15]

Kymera Therapeutics Conference Call Summary Company Overview - **Company**: Kymera Therapeutics (NasdaqGM:KYMR) - **Focus**: Transitioned from oncology to a leader in degraders for IMiD (Immunomodulatory Drugs) over the past 12 to 18 months [4][6] Key Points and Arguments Strategic Focus - Kymera is focused on large markets with established biology and unmet needs, particularly in the IMiD space [5][6] - The company has six programs in clinical trials, with a compelling IMiD pipeline expected to grow [6][8] - Kymera has $1.6 billion in cash, providing a runway until 2029 to pursue large opportunities [8] Clinical Data and Programs - The STAT6 program (KT-621) is a primary focus, with promising data from Phase 1b studies in atopic dermatitis (AD) and asthma [9][11] - Phase 1b study involved 22 patients with moderate to severe AD, showing strong internal consistency in degrading STAT6 and impacting Type 2 biomarkers [12][13] - The drug demonstrated comparable or superior effects to dupilumab, a leading treatment for AD [12][13] Biomarker Insights - FeNO (Fractional exhaled nitric oxide) is a key biomarker in Type 2 allergic diseases, showing a 25%-35% reduction in AD patients and a 55% reduction in asthma patients after treatment with KT-621 [15][16][17] - The Phase 2b asthma study will focus on eosinophilic asthma patients with high FeNO levels, aiming for a faster and more efficient study design [18] Safety Profile - Preclinical and clinical data indicate a clean safety profile for KT-621, with no significant adverse findings in various studies [25][26] - The company is cautious about potential conjunctivitis, a known side effect of dupilumab, but has not observed it in their studies so far [27][28] Market Opportunity - The market for Type 2 diseases is vast, with approximately 140 million patients, of which 50 million have moderate to severe conditions [35] - Dupixent, a $20 billion drug, has low penetration relative to patient needs, indicating a significant opportunity for Kymera's oral solution [35][36] Future Developments - Data from the AD trial is expected by mid-2027, while asthma data will follow later in 2027 [40] - The IRF5 targeting program has started dosing, with potential applications in lupus, RA, and other conditions [44][45] - Kymera plans to introduce a new development candidate in the second half of 2026 [54] Additional Important Content - The company has a robust pipeline, including partnered programs with Sanofi on IRAK4 and Gilead on CDK2 [53][54] - Kymera emphasizes the importance of executing its strategy effectively, supported by strong financial positioning [55]

Kymera Therapeutics (NasdaqGM:KYMR) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsAnna Lee - VP in Equity ResearchBrad Canino - Managing DirectorBruce Jacobs - CFOCharles Ndiaye - Biotech Equity Research AssociateEdward Tenthoff - Managing DirectorFaisal Rashid - Managing DirectorGeoff Meacham - Managing DirectorJared Gollob - Chief Medical OfficerJustine Koenigsberg - VP of Investor RelationsKevin Cullinane - Managing DirectorMarc Frahm - Managing DirectorNello Mainolfi - Founder, ...

Kymera Therapeutics (NasdaqGM:KYMR) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsAnna Lee - VP in Equity ResearchBrad Canino - Managing DirectorBrian Abrahams - Head of Global Healthcare ResearchBruce Jacobs - CFOCharles Ndiaye - Biotech Equity Research AssociateEdward Tenthoff - Managing DirectorFaisal Rashid - Managing DirectorGeoff Meacham - Managing DirectorJared Gollob - Chief Medical OfficerJustine Koenigsberg - VP of Investor RelationsMarc Frahm - Managing DirectorNello Mai ...

Kymera Therapeutics (NasdaqGM:KYMR) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Speaker15Good day, everyone. My name is Kahealani. I will be your conference operator today. At this time, I'd like to welcome you to the Kymera Therapeutics fourth quarter 2025 results call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, and if you've joined via the webinar, pl ...

Fourth Quarter & Full Year 2025 Quarterly Results Call February 26, 2026 Agenda Introduction Justine Koenigsberg, Vice President, Investor Relations Key Highlights and Business Update Nello Mainolfi, PhD, Founder, President and Chief Executive Officer Clinical Update Jared Gollob, MD, Chief Medical Officer Financial Review Bruce Jacobs, CFA, MBA, Chief Financial Officer Question and Answer Session Forward Looking Statements This presentation contains forward-looking statements within the meaning ofthe Priva ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39460 KYMERA THERAPEUTICS, INC. (Exact name of Registrant as specified in its Charter) Delaware 81-2992166 (State or other jurisdicti ...

KT-621 (STAT6) BROADEN2 Phase 2b trial in atopic dermatitis (AD) ongoing, with data expected by mid-2027 KT-621 BREADTH Phase 2b trial in asthma ongoing, with data expected in late-2027 Initiated dosing in KT-579 (IRF5) Phase 1 healthy volunteer trial with data expected in 2H26 Dr. Neil Graham, experienced biopharma leader, appointed Chief Development Officer Well-capitalized with $1.6 billion in cash as of December 31, 2025, and runway into 2029 Company to hold video conference call and webcast today at ...

Baker Bros. Advisors reported a buy of 2,005,813 Kymera Therapeutics (NASDAQ:KYMR) shares in its February 17, 2026, SEC filing, an estimated $135.45 million trade based on quarterly average pricing. What happened According to a February 17, 2026 SEC filing, Baker Bros. increased its holding in Kymera Therapeutics (NASDAQ:KYMR) by 2,005,813 shares. The estimated trade value was $135.45 million, based on the average closing price during the fourth quarter of 2025. The fund’s quarter-end position value in K ...