Kymera Therapeutics Announces Pricing of Upsized $602 Million Public Offering

Rhea-AI Summary

Kymera Therapeutics (NASDAQ: KYMR) priced an upsized underwritten public offering of 7,000,000 shares at $86.00 per share, raising approximately $602.0 million in gross proceeds; underwriters have a 30‑day option to buy up to an additional 1,050,000 shares at the offering price, less discounts and commissions.

The offering is expected to close on December 11, 2025, subject to customary conditions. Net proceeds are intended to fund advancement of preclinical and clinical degrader programs and for working capital and general corporate purposes. The offering is made from an effective Form S-3 shelf registration filed October 31, 2024.

Positive

• $602.0M gross proceeds from the offering
• Sale of 7,000,000 shares at $86.00 per share
• Proceeds earmarked to advance preclinical and clinical programs
• Underwriters granted option for up to 1,050,000 additional shares

Negative

• Immediate share dilution from issuance of 7,000,000 new shares
• Underwriters' option could increase dilution by 1,050,000 shares

Argus Dec 10 session

+3.46% close to close Open Argus

Details

News Market Reaction – KYMR

On Dec 10, the first trading day after this news, KYMR closed 3.46% above the previous close.

Data tracked by StockTitan Argus for the Dec 10 session.

Key Figures

Offering size: $602.0 million Shares offered: 7,000,000 shares Offering price: $86.00 per share +5 more

Offering size

$602.0 million

Gross proceeds from current underwritten public offering, excluding option

Shares offered

7,000,000 shares

Common stock sold in current public offering

Offering price

$86.00 per share

Public offering price for new common shares

Underwriters’ option

1,050,000 shares

30-day option for additional common shares

Cash & securities

$978.7 million

Cash, cash equivalents and marketable securities as of Sep 30, 2025 (10-Q)

Q3 2025 revenue

$2.764 million

Collaboration revenue in Q3 2025 (10-Q)

Q3 2025 net loss

$82.175 million

Net loss in Q3 2025; $0.94 basic/diluted loss per share

Potential Sanofi milestones

$975 million

Maximum future milestones under Sanofi IRAK4 collaboration (10-Q)

Historical Context

5 past events · Latest: 2025-12-08

5 events

1. 2025-12-08

   Equity offering proposal

   24h Move

   +41.5%

   Announced proposed $500M+ common stock offering with 30-day underwriter option.

2. 2025-12-08

   Clinical data update

   24h Move

   +41.5%

   Reported strong Phase 1b KT-621 efficacy and safety metrics in AD patients.

3. 2025-12-05

   Data event scheduling

   24h Move

   +0.1%

   Set date and webcast details for upcoming KT-621 Phase 1b data release.

4. 2025-11-25

   Trial initiation

   24h Move

   +0.7%

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

5. 2025-11-24

   Investor conferences

   24h Move

   -0.7%

   Announced participation in multiple December healthcare investor conferences.

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, public offering price, underwriting discounts and commissions, gross proceeds, +4 more

8 terms

underwritten public offering financial

"announced the pricing of its underwritten public offering of $602.0 million of shares"

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.

public offering price financial

"being sold at a public offering price of $86.00 per share"

The public offering price is the amount of money a company charges investors to buy its shares during a new stock sale to the public. It determines how much the company raises and how much each share is worth at the start of trading. For investors, it helps gauge the initial value of the stock and whether it might be a good investment opportunity.

underwriting discounts and commissions financial

"less underwriting discounts and commissions"

Underwriting discounts and commissions are fees paid to financial institutions that help sell new securities to investors. They act like a commission for their role in connecting companies with buyers, often reducing the amount of money the issuing company raises. For investors, understanding these costs helps gauge how much of their investment is going toward the actual securities versus fees paid to middlemen.

gross proceeds financial

"The gross proceeds to Kymera from the offering are expected to be approximately $602.0 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.

working capital financial

"and for working capital and other general corporate purposes"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

View in glossary

prospectus supplement regulatory

"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.

registration statement regulatory

"that form a part of the registration statement"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

customary closing conditions technical

"The offering is expected to close on December 11, 2025, subject to the satisfaction of customary closing conditions"

"Customary closing conditions" are standard rules or checks that must be met before a business deal can be finalized, like making sure all paperwork is in order or that certain approvals are obtained. They matter because they help protect both parties, ensuring everything is in place and reducing the risk of surprises or problems after the deal is closed.

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

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WATERTOWN, Mass., Dec. 09, 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 pricing of its underwritten public offering of $602.0 million of shares of its common stock. Kymera is selling 7,000,000 shares of common stock in the offering, which are being sold at a public offering price of $86.00 per share. In addition, Kymera has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The gross proceeds to Kymera from the offering are expected to be approximately $602.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Kymera, assuming no exercise of the underwriters’ option to purchase additional shares. All of the securities being sold in this offering are being offered by Kymera. The offering is expected to close on December 11, 2025, subject to the satisfaction of customary closing conditions.

Kymera intends to use the net proceeds from the offering to continue to advance its pipeline of preclinical and clinical degrader programs that are designed to address large patient populations with significant need and clear commercial opportunity, and for working capital and other general corporate purposes.

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

The securities described above are being 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. This offering is being 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 will be filed with the SEC and will be 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 7^th Street, 5^th 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 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 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.

Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, and include, but are not limited to, statements regarding the expected gross proceeds from the offering, completion and timing of the public offering and the anticipated use of proceeds from the offering. Any forward-looking statements are based on Kymera’s current expectations, forecasts, and assumptions and are subject to a number of risks and uncertainties that could cause actual outcomes and results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Kymera’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Kymera’s Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2025, June 30, 2025 and September 30, 2025, as well as in the prospectus supplement related to the public offering. Forward-looking statements contained in this press release are based on information available to Kymera as of the date hereof and are made only as of the date of this release. Kymera undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing Kymera’s views as of any date subsequent to the date of this press release. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Kymera.

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) offer and at what price on December 10, 2025?

Kymera offered 7,000,000 shares at a public offering price of $86.00 per share.

What are the total gross proceeds Kymera (KYMR) expects from the December 2025 offering?

The company expects approximately $602.0 million in gross proceeds, before underwriting discounts and expenses.

When is the Kymera (KYMR) offering expected to close and what is the ticker?

The offering is expected to close on December 11, 2025; the stock trades as KYMR on Nasdaq.

Will Kymera (KYMR) issue more shares beyond the 7,000,000 offered in December 2025?

Yes; underwriters have a 30-day option to purchase up to an additional 1,050,000 shares at the offering price, subject to discounts and commissions.

What will Kymera (KYMR) use the net proceeds from the $602M offering for?

Kymera intends to use net proceeds to continue advancing its preclinical and clinical degrader programs and for working capital and other general corporate purposes.