Kymera Therapeutics Announces Closing of Upsized $602 Million Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Kymera Therapeutics (NASDAQ: KYMR) closed an upsized underwritten public offering on Dec 11, 2025, selling 8,050,000 shares of common stock at a public offering price of $86.00 per share, which included 1,050,000 shares from the full exercise of the underwriters’ option.

The press release reports gross proceeds of approximately $692.3 million before deducting underwriting discounts, commissions and estimated offering expenses. The offering was conducted under an automatically effective Form S-3 registration and a final prospectus supplement filed with the SEC.

Positive

• Offering size of 8,050,000 shares issued
• Public offering price of $86.00 per share
• Gross proceeds of approximately $692.3 million

Negative

• Net proceeds will be lower after underwriting discounts, commissions and expenses
• Issuance of 8,050,000 new shares may dilute existing shareholders

Argus Dec 12 session

+2.13% close to close Open Argus

Details

News Market Reaction – KYMR

On Dec 12, the first trading day after this news, KYMR closed 2.13% above the previous close.

Data tracked by StockTitan Argus for the Dec 12 session.

Key Figures

Upsized offering size: $602.0 million Shares issued: 8,050,000 shares Underwriters’ option shares: 1,050,000 shares +2 more

Upsized offering size

$602.0 million

Underwritten public offering of common stock

Shares issued

8,050,000 shares

Total common shares sold including option exercise

Underwriters’ option shares

1,050,000 shares

Additional shares from full option exercise

Offering price

$86.00 per share

Public offering price for common stock

Gross proceeds

$692.3 million

Gross proceeds before fees and expenses

Historical Context

5 past events · Latest: Dec 09

5 events

1. Dec 09

   Offering priced

   24h Move

   -7.9%

   Pricing of upsized $602M equity offering with potential dilution impact.

2. Dec 08

   Offering proposed

   24h Move

   +41.5%

   Announcement of proposed $500M equity raise with additional $75M option.

3. Dec 08

   Clinical data

   24h Move

   +41.5%

   Positive KT-621 Phase 1b atopic dermatitis data with strong efficacy and safety.

4. Dec 05

   Data timing

   24h Move

   +0.1%

   Announcement of upcoming KT-621 BroADen Phase 1b topline data release date.

5. Nov 25

   Trial initiation

   24h Move

   +0.7%

   First patient dosed in BROADEN2 Phase 2b KT-621 atopic dermatitis trial.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, gross proceeds, prospectus supplement, prospectus, +1 more

5 terms

underwritten public offering financial

"announced the closing of its upsized underwritten public offering of $602.0 million"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

gross proceeds financial

"The gross proceeds to Kymera from the offering were approximately $692.3 million"

The total amount of cash a company receives from a financing event or sale before any fees, expenses, taxes or deductions are taken out. Investors watch gross proceeds because it shows the raw scale of new capital being raised—think of it as the paycheck amount before withholdings—which helps assess how much funding is available for operations, growth, debt payoff or how much shareholder dilution might occur once costs are removed.

prospectus supplement regulatory

"The offering was made only by means of a prospectus supplement and an accompanying prospectus"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

prospectus regulatory

"final prospectus supplement related to and describing the terms of the offering"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

u.s. securities and exchange commission regulatory

"registration statement on Form S-3 ... filed with the U.S. Securities and Exchange Commission"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WATERTOWN, Mass., Dec. 11, 2025 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines for immunological diseases, today announced the closing of its upsized underwritten public offering of $602.0 million of shares of its common stock. Kymera sold and issued 8,050,000 shares of its common stock, which includes 1,050,000 shares sold and issued upon the full exercise by the underwriters of their option to purchase additional shares of common stock. The shares of common stock were sold at a public offering price of $86.00 per share. The gross proceeds to Kymera from the offering were approximately $692.3 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Kymera.

Morgan Stanley, J.P. Morgan, Jefferies, Stifel, Guggenheim Securities and Wells Fargo Securities acted as joint book-running managers for the offering.

The securities described above were offered pursuant to an automatically effective shelf registration statement on Form S-3 (No. 333-282912) that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 31, 2024. The offering was made only by means of a prospectus supplement and an accompanying prospectus that form a part of the registration statement.

A final prospectus supplement related to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and an accompanying prospectus related to the offering may also be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Jefferies LLC by mail at Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, telephone: at (212) 518-9544, or by emailing GSEquityProspectusDelivery@guggenheimpartners.com; and Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com. 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About Kymera Therapeutics
Kymera Therapeutics (Nasdaq: KYMR) is a clinical-stage biotechnology company pioneering the field of targeted protein degradation (TPD) to develop medicines that address critical health problems and have the potential to dramatically improve patients’ lives. Kymera is deploying TPD to address disease targets and pathways inaccessible with conventional therapeutics. Having advanced the first degrader into the clinic for immunological diseases, Kymera is focused on building an industry-leading pipeline of oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with these conditions. Founded in 2016, Kymera has been recognized as one of Boston’s top workplaces for the past several years.

Investor & Media Contact:  

Justine Koenigsberg
Vice President, Investor Relations
investors@kymeratx.com 
media@kymeratx.com  
857-285-5300 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Kymera (KYMR) sell in the Dec 11, 2025 offering?

Kymera sold and issued 8,050,000 shares, including 1,050,000 shares from full exercise of the underwriters’ option.

What was the public offering price for Kymera (KYMR) on Dec 11, 2025?

The shares were sold at a public offering price of $86.00 per share.

How much did Kymera (KYMR) raise in gross proceeds from the offering?

The press release reports approximately $692.3 million in gross proceeds before fees and expenses.

Will the Dec 11, 2025 Kymera (KYMR) offering dilute current shareholders?

Yes. The company issued 8,050,000 new shares, which will increase the share count and dilute existing holders.

Was the Kymera (KYMR) offering filed with the SEC?

Yes. The offering was made pursuant to an automatically effective Form S-3 (No. 333-282912) registration and a final prospectus supplement filed with the SEC.