Kymera Therapeutics Announces Second Quarter 2025 Financial Results and Provides a Business Update
Kymera Therapeutics (NASDAQ: KYMR) reported significant Q2 2025 financial results and pipeline progress. The company announced positive Phase 1 data for KT-621, their oral STAT6 degrader, demonstrating complete STAT6 degradation and favorable safety profile. Kymera secured a strategic partnership with Gilead worth up to $750 million for CDK2 degrader development.
Financial highlights include a strong cash position of $1 billion as of July 31, 2025, extending runway into H2 2028. Q2 2025 showed collaboration revenues of $11.5 million and a net loss of $76.6 million. The company completed a $288 million equity offering in June 2025.
Pipeline developments include advancing KT-621 to Phase 2b trials in atopic dermatitis and asthma starting Q4 2025 and Q1 2026, respectively. KT-579, their IRF5 degrader, is progressing toward Phase 1 trials in early 2026.
Kymera Therapeutics (NASDAQ: KYMR) ha comunicato risultati finanziari significativi per il secondo trimestre 2025 e importanti progressi della pipeline. L'azienda ha annunciato dati positivi di Fase 1 per KT-621, il suo degradatore orale di STAT6, che mostrano la degradazione completa di STAT6 e un profilo di sicurezza favorevole. Kymera ha stipulato una partnership strategica con Gilead del valore fino a 750 milioni di dollari per lo sviluppo di un degradatore di CDK2.
Gli aspetti finanziari evidenziano una solida posizione di cassa di $1 billion al 31 luglio 2025, che estende la copertura finanziaria fino alla seconda metà del 2028. Nel secondo trimestre 2025 i ricavi da collaborazioni sono stati di 11,5 milioni di dollari e la perdita netta è stata di 76,6 milioni. L'azienda ha completato a giugno 2025 un'offerta azionaria da $288 milioni.
La pipeline prevede l'avanzamento di KT-621 a studi di Fase 2b per dermatite atopica e asma a partire rispettivamente dal quarto trimestre 2025 e dal primo trimestre 2026. KT-579, il degradatore di IRF5, si sta muovendo verso studi di Fase 1 all'inizio del 2026.
Kymera Therapeutics (NASDAQ: KYMR) informó resultados financieros relevantes del segundo trimestre de 2025 y avances en su pipeline. La compañía anunció datos positivos de Fase 1 para KT-621, su degradador oral de STAT6, que demuestran la degradación completa de STAT6 y un perfil de seguridad favorable. Kymera aseguró una asociación estratégica con Gilead por hasta 750 millones de dólares para el desarrollo de un degradador de CDK2.
En lo financiero, destaca una posición de caja sólida de $1,000 millones al 31 de julio de 2025, que extiende su runway hasta la segunda mitad de 2028. En el 2T 2025 registró ingresos por colaboraciones por 11,5 millones y una pérdida neta de 76,6 millones. La compañía completó en junio de 2025 una oferta de capital de $288 millones.
En la pipeline, KT-621 avanza hacia ensayos de Fase 2b en dermatitis atópica y asma, que comenzarán en el cuarto trimestre de 2025 y el primer trimestre de 2026, respectivamente. KT-579, su degradador de IRF5, avanza hacia ensayos de Fase 1 a principios de 2026.
Kymera Therapeutics (NASDAQ: KYMR)는 2025년 2분기 주요 재무실적과 파이프라인 진전을 발표했습니다. 회사는 경구용 STAT6 분해제인 KT-621의 1상 긍정적 데이터를 공개했으며, STAT6 완전 분해와 양호한 안전성 프로파일을 보여주었습니다. Kymera는 CDK2 분해제 개발을 위해 최대 7억5000만 달러 규모의 Gilead와 전략적 파트너십을 체결했습니다.
재무 하이라이트로는 2025년 7월 31일 기준 현금 10억 달러($1 billion)의 견고한 현금성 자산으로 2028년 하반기까지 자금 운용 기간을 연장했다고 보고했습니다. 2025년 2분기에는 협업 수익 1150만 달러와 순손실 7660만 달러를 기록했습니다. 회사는 2025년 6월에 2억8800만 달러 규모의 주식 공모를 완료했습니다.
파이프라인 관련해서는 KT-621을 아토피 피부염 및 천식에 대한 2b상으로 진입시키며 각각 2025년 4분기와 2026년 1분기에 시작할 예정입니다. IRF5 분해제인 KT-579는 2026년 초 1상 진입을 향해 진행 중입니다.
Kymera Therapeutics (NASDAQ: KYMR) a annoncé des résultats financiers significatifs pour le deuxième trimestre 2025 et des progrès de sa pipeline. La société a communiqué des données positives de Phase 1 pour KT‑621, son dégradeur oral de STAT6, montrant une dégradation complète de STAT6 et un profil de sécurité favorable. Kymera a conclu un partenariat stratégique avec Gilead d'un montant pouvant atteindre 750 millions de dollars pour le développement d'un dégradeur de CDK2.
Parmi les points financiers, on note une position de trésorerie solide de 1 milliard de dollars au 31 juillet 2025, prolongeant la visibilité financière jusqu'au second semestre 2028. Le 2T 2025 a affiché des revenus de collaboration de 11,5 millions de dollars et une perte nette de 76,6 millions. La société a finalisé en juin 2025 une augmentation de capital de 288 millions de dollars.
Sur la pipeline, KT‑621 passe en essais de Phase 2b pour la dermatite atopique et l'asthme, qui débuteront respectivement au quatrième trimestre 2025 et au premier trimestre 2026. KT‑579, leur dégradeur d'IRF5, progresse vers des essais de Phase 1 début 2026.
Kymera Therapeutics (NASDAQ: KYMR) meldete deutliche Finanzergebnisse für das zweite Quartal 2025 und Fortschritte in der Pipeline. Das Unternehmen verkündete positive Phase‑1‑Daten für KT‑621, den oralen STAT6‑Degrader, die eine vollständige STAT6‑Degradation und ein günstiges Sicherheitsprofil zeigen. Kymera schloss eine strategische Partnerschaft mit Gilead im Umfang von bis zu 750 Millionen US‑Dollar zur Entwicklung eines CDK2‑Degraders.
Finanzielle Eckdaten: Eine starke Barposition von 1 Milliarde US‑Dollar zum 31. Juli 2025, die den Finanzierungszeitraum bis in die zweite Hälfte 2028 verlängert. Im 2. Quartal 2025 wurden Kollaborationsumsätze von 11,5 Millionen US‑Dollar und ein Nettoverlust von 76,6 Millionen US‑Dollar ausgewiesen. Im Juni 2025 schloss das Unternehmen eine Kapitalerhöhung über 288 Millionen US‑Dollar ab.
Bei der Pipeline wird KT‑621 in Phase‑2b‑Studien bei atopischer Dermatitis und Asthma überführt, die voraussichtlich im 4. Quartal 2025 bzw. 1. Quartal 2026 starten. KT‑579, ihr IRF5‑Degrader, bewegt sich auf Phase‑1‑Studien Anfang 2026 zu.
- Secured strategic partnership with Gilead worth up to $750 million for CDK2 degrader development
- Strong cash position of $1 billion with runway extended into H2 2028
- Successful completion of $288 million equity offering
- Positive Phase 1 data for KT-621 showing complete STAT6 degradation and favorable safety
- Multiple clinical programs advancing with Phase 2b trials starting Q4 2025
- Increased net loss to $76.6 million in Q2 2025 from $42.1 million in Q2 2024
- Research and development expenses increased to $78.4 million from $59.2 million year-over-year
- Collaboration revenues decreased to $11.5 million from $25.7 million compared to Q2 2024
Insights
Kymera's strong STAT6 degrader data and $1B cash position signal transformative potential in immunology with biologics-like oral therapies.
The positive KT-621 Phase 1 data represents a potential paradigm shift in treating Th2-driven diseases affecting over 130 million patients globally. The oral STAT6 degrader achieved complete STAT6 degradation in blood and skin at low doses with a clean safety profile, potentially offering a convenient oral alternative to injectable biologics like dupilumab.
The biomarker data is particularly compelling - KT-621 demonstrated 37% median TARC reduction and 63% median Eotaxin-3 reduction, comparable or superior to dupilumab's effects. This suggests the drug could potentially match the efficacy of established biologics while offering the convenience of oral administration.
Kymera's pipeline advancement is impressive with multiple near-term catalysts: BroADen Phase 1b atopic dermatitis data in Q4 2025, Phase 2b initiation in atopic dermatitis (Q4 2025) and asthma (Q1 2026), plus their IRF5 degrader (KT-579) advancing to Phase 1 in early 2026. The toxicology results showing no adverse events at all doses tested significantly de-risks the program.
The $750 million Gilead partnership for CDK2 degraders provides substantial validation of Kymera's platform beyond immunology. Additionally, Sanofi's decision to prioritize their second-generation IRAK4 degrader (KT-485) demonstrates continued interest in targeted protein degradation technology.
With $1 billion in cash providing runway into H2 2028, Kymera is exceptionally well-capitalized compared to peers. This financial strength allows them to advance multiple programs independently while maintaining negotiating leverage in future partnerships. The company is positioned as a potential leader in targeted protein degradation with applications across multiple therapeutic areas.
Kymera's $1B cash position and Gilead deal create exceptionally strong financial foundation through 2028 with multiple value-driving catalysts ahead.
Kymera has transformed its financial position through strategic execution, building a $1 billion cash reserve as of July 31, 2025, extending runway into the second half of 2028. This remarkable cash position resulted from their recent $288 million equity offering combined with partnership payments.
The new Gilead collaboration brings up to $750 million in potential payments, starting with up to $85 million in upfront and option exercise fees, plus tiered royalties from high single-digits to mid-teens. This non-dilutive funding for their CDK2 degrader program validates their platform beyond their lead programs.
While quarterly revenues fell to $11.5 million (vs $25.7M in Q2 2024), this reflects the recognition of remaining Sanofi collaboration deferred revenue. Future quarters will include revenue recognition from the Gilead deal. Operating expenses increased to $96 million ($78.4M R&D, $17.6M G&A), driving a net loss of $76.6 million.
The company's substantially extended cash runway now covers multiple value-creating clinical catalysts, including the STAT6 degrader Phase 1b readout (Q4 2025), Phase 2b initiation in atopic dermatitis (Q4 2025) and asthma (Q1 2026), and KT-579 Phase 1 initiation (early 2026). This eliminates near-term financing risk while providing flexibility to negotiate partnerships from a position of strength.
With four catalysts in the next 6-8 months and cash extending through the second half of 2028, Kymera has created a strong foundation to potentially emerge as a leader in the targeted protein degradation space while minimizing dilution risk during a crucial phase of clinical development.
Reported positive KT-621 (STAT6) Phase 1 healthy volunteer data surpassing Kymera’s target product profile, and further validating its oral, dupilumab-like profile
KT-621 BroADen Phase 1b trial in moderate to severe atopic dermatitis (AD) patients on track to report data in 4Q25
Doses selected for KT-621 Phase 2b trials in AD and asthma, which are on track to initiate in 4Q25 and 1Q26, respectively
KT-579 (IRF5) IND-enabling studies ongoing, with Phase 1 clinical trial expected to start in early 2026
Company entered a strategic partnership with Gilead to develop novel oral molecular glue CDK2 degraders, with up to
Well-capitalized with
Company to hold video conference call and webcast today at 8:30 a.m. ET
WATERTOWN, Mass., Aug. 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 reported financial results for the second quarter ended June 30, 2025, and provided business highlights and updates on its pipeline.
“The first half of this year has been rich in data and milestones that build upon our scientific achievements and further validate the potential impact of our industry leading oral immunology pipeline. This includes the exceptional data from the healthy volunteer trial for KT-621, our once-a-day oral STAT6 degrader, which exceeded expectations across every measure showing robust target and pathway engagement, as well as safety undifferentiated from placebo,” said Nello Mainolfi, PhD, Founder, President and CEO, Kymera Therapeutics. “We’re continuing to rapidly advance this program, and with the enrollment progress we have made in the KT-621 BroADen Phase 1b trial in AD patients, we’re on track to share the BroADen study data, and to initiate our first Phase 2b study in AD, both in the fourth quarter.”
Dr. Mainolfi continued, “Additionally, we’re advancing KT-579, our oral IRF5 degrader program with broad clinical promise in areas of high unmet need, on the path to clinical entry early next year. We recently announced two collaboration updates as well, including an exciting new partnership with Gilead focused on our innovative CDK2 molecular glue program, and Sanofi’s plans to advance our second generation IRAK4 degrader, KT-485, into clinical studies. With
Business Highlights, Recent Developments and Upcoming Milestones
STAT6 Degrader Program
KT-621 is an investigational, first-in-class, once daily, oral degrader of STAT6, the specific transcription factor responsible for IL-4/IL-13 signaling and the central driver of Th2 inflammation. In the Phase 1 clinical study in healthy volunteers, KT-621 demonstrated complete STAT6 degradation in blood and skin following low daily oral doses, reductions of multiple disease relevant Th2 biomarkers, and a safety profile undifferentiated from placebo. KT-621, the first STAT6-directed medicine to enter clinical evaluation, has the potential to transform treatment paradigms for more than 130 million patients around the world, including children and adults, suffering from Th2 diseases such as AD, asthma, chronic obstructive pulmonary disease (COPD), chronic rhinosinusitis with nasal polyps (CRSwNP), eosinophilic esophagitis (EoE), chronic spontaneous urticaria (CSU), and prurigo nodularis (PN), among others.
- In June, the Company announced positive results from its Phase 1 healthy volunteer trial, surpassing Kymera’s target product profile and validating KT-621’s oral, dupilumab-like profile. The trial evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of single- (SAD) and multiple-ascending (MAD) doses of KT-621 compared to placebo. KT-621 demonstrated rapid, deep and prolonged STAT6 degradation in blood and skin. In blood, >
90% mean STAT6 degradation was achieved at all doses above 1.5 mg. Complete STAT6 degradation was achieved in both blood and skin at all MAD doses ≥50 mg. KT-621 demonstrated an impact on Th2 biomarkers in line or superior to dupilumab with median TARC reduction up to37% and median Eotaxin-3 reduction up to63% . KT-621 was well-tolerated with a safety profile undifferentiated from placebo. - The Company completed a healthy volunteer clinical trial in Japanese subjects to provide the pharmacokinetic and safety data required by regulators prior to enrollment of patients in Japan in the planned global Phase 2b studies. Results from the Japanese study were consistent with the Phase 1 healthy volunteer data reported in the U.S. trial, including robust degradation and favorable safety, and will be shared at a future medical meeting.
- The KT-621 BroADen Phase 1b trial, an open label study in patients with moderate to severe AD, is ongoing, with data expected to be reported in the fourth quarter of 2025. This single arm study is evaluating two doses with the objective to show that robust STAT6 degradation in blood and skin by KT-621 has a dupilumab-like effect on reducing multiple Th2 biomarkers in the blood and on the transcriptome of active AD skin lesions at four weeks. The study will also assess effects on clinical endpoints such as Eczema Area and Severity Index (EASI) and pruritus numerical rating scale (NRS).
- The Company completed four-month GLP toxicology studies evaluating KT-621 in NHP and rat and, consistent with its earlier two-week non-GLP and four-week GLP toxicology studies, did not observe any adverse events of any type at all doses and concentrations tested.
- Two parallel Phase 2b studies in AD and asthma patients are planned to begin in the fourth quarter of 2025 and the first quarter of 2026, respectively. Doses have been selected for the Phase 2b studies in moderate to severe AD and asthma patients, which are expected to accelerate KT-621 development and enable dose selection for subsequent parallel Phase 3 registration studies across multiple Th2 dermatology, gastroenterology and respiratory indications.
- Kymera has selected a follow-on oral STAT6 degrader to KT-621, with a strong potency, selectivity, and safety profile, and has advanced it through all required IND-enabling studies. The degrader is IND-ready should the Company decide to further advance it into the clinic in the future.
- In May, the Company presented additional KT-621 preclinical data at the American Thoracic Society (ATS) Annual Meeting and was featured in an oral showcase presentation as part of the ATS Respiratory Innovation Summit. The new asthma efficacy mouse model data demonstrated both prevention of disease progression as well as reversal of established disease, building upon the compelling preclinical characterization of KT-621.
- The Company will present the KT-621 Phase 1 healthy volunteer data in a late-breaking oral presentation at the European Respiratory Society (ERS) Congress being held September 27-October 1, 2025, in Amsterdam, Netherlands. Additionally, the Company will present KT-621 preclinical data in a poster at the European Academy of Dermatology and Venereology (EADV) Congress being held September 17-20, 2025, in Paris, France.
IRF5 Degrader Program
KT-579 is an investigational, first-in-class, oral degrader of IRF5, a genetically validated transcription factor and master regulator of immunity. KT-579 has the potential to selectively block inflammation and restore immune regulation by inhibiting pro-inflammatory cytokines, Type I IFN, and autoantibody production while sparing normal cell function. In preclinical studies, KT-579 degraded IRF5 across multiple preclinical species and in all disease-relevant tissues. In preclinical models of lupus and rheumatoid arthritis (RA), KT-579 was equal or more efficacious than clinically active or marketed small molecule inhibitors and biologics. In preclinical safety studies, KT-579 did not show any adverse effects of any type at doses and concentrations tested. KT-579 has the potential to be the first novel mechanism with broad utility in diseases where effective and well tolerated oral therapies are needed, such as lupus, Sjögren's, inflammatory bowel disease (IBD), RA and others.
- KT-579 IND-enabling studies are ongoing. The Company intends to advance the program into Phase 1 testing in early 2026.
- Additional new data from preclinical animal models in lupus and RA will be shared in two posters at the American College of Rheumatology (ACR) Annual Meeting being held October 24-29, 2025, in Chicago, Illinois.
Collaboration Updates
- In June, the Company entered into an exclusive option and license agreement with Gilead to accelerate the development and commercialization of a novel molecular glue degrader program targeting CDK2 with broad oncology treatment potential. Under the terms of the agreement, Kymera is eligible to receive up to
$750 million in total payments, including up to$85 million in upfront and potential option exercise payments. In addition, Kymera may also receive tiered royalties ranging from high single-digit to mid-teens on net product sales under the collaboration. Kymera will lead all research activities for the CDK2 program. If Gilead exercises its option to exclusively license the program, Gilead will have global rights to develop, manufacture and commercialize all products resulting from the collaboration. - In June, Sanofi informed Kymera that KT-485 (SAR447971), a selective, potent, oral IRAK4 degrader, has been prioritized for development under the companies’ existing IRAK4 collaboration, and is expected to advance into Phase 1 testing next year. Based on this decision, Sanofi will not advance Kymera’s first-generation IRAK4 degrader, KT-474. Additionally, Sanofi communicated its decision to exercise its participation election right for the IRAK4 target under the terms of the companies’ collaboration agreement. Kymera achieved a
$20 million milestone in the second quarter of 2025 related to preclinical activities associated with KT-485 and is eligible to receive an additional milestone upon the start of Phase 1 clinical testing, part of up to$975 million of potential clinical, regulatory and commercial milestones.
Corporate Updates
- In June, the Company completed a
$250 million underwritten equity offering. Total gross proceeds, including the underwriters’ subsequent full exercise of the overallotment option, were approximately$288 million . With these proceeds, and the upfront payment from Gilead received in July, the Company ended the month of July 2025 with an unaudited cash balance of approximately$1 billion and has extended its cash runway into the second half of 2028.
Financial Results
Collaboration Revenues: Collaboration revenues were
Research and Development Expenses: Research and development expenses were
General and Administrative Expenses: General and administrative expenses were
Net Loss: Net loss was
Cash and Cash Equivalents: As of June 30, 2025, Kymera had
Event Details
Kymera will host a video conference call today, August 11, 2025, at 8:30 a.m. ET. To join the call please use this link to register. A live webcast of the event will be available under News and Events in the Investors section of the Company’s website at www.kymeratx.com. A replay of the webcast will be archived and available following the event for three months.
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. For more information about our science, pipeline and people, please visit www.kymeratx.com or follow us on X or LinkedIn.
Availability of Other Information About Kymera Therapeutics
For more information, please visit the Kymera website at https://www.kymeratx.com/ or follow Kymera on X (@KymeraTx) and LinkedIn (Kymera Therapeutics). Investors and others should note that Kymera communicates with its investors and the public using the Company website, including, but not limited to, corporate disclosures, investor presentations, FAQs, Securities and Exchange Commission (SEC) filings, and press releases, as well as on X and LinkedIn. The information that Kymera posts on its website or on X or LinkedIn could be deemed to be material information. As a result, Kymera encourages investors, the media and others interested to review the information that Kymera posts there on a regular basis. The contents of Kymera’s website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about our expectations regarding strategy, business plans and objectives on the development of our clinical and preclinical pipeline, including the therapeutic potential, clinical benefits and safety thereof, including for KT-474 and KT-485, the Phase 1b data readout of KT-621 in AD patients in the fourth quarter of 2025, the initiation of Phase 2b studies of KT-621 in patients with AD and asthma in the fourth quarter of 2025 and first quarter of 2026, respectively, the effect of initial parallel development of Phase 2b studies in AD and asthma patients on acceleration of late parallel development across multiple indications, and the preliminary cross-study assessments comparing non-head-to-head clinical data of KT-621 to published data for dupilumab, the advancement of KT-579 into Phase 1 clinical testing in early 2026, objectives on the development of CDK2 degraders, Kymera’s plans with respect to the potential benefits of and Kymera’s expectations with respect to the collaboration with Gilead, the potential achievement of upfront, option exercise, milestone and royalty payments and the extent to which CDK2 degraders generally may address breast cancer and other solid tumors, including the therapeutic potential, and Kymera’s financial condition and expected cash runway into the second half of 2028. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target," “upcoming” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from any forward-looking statements contained in this press release, including, without limitation, risks associated with: the risk that cross-trial comparisons may not be reliable as no head-to-head trials have been conducted comparing KT-621 to dupilumab, and Phase 1 clinical data for KT-621 may not be directly comparable to dupilumab’s clinical data due to differences in molecule composition, trial protocols, dosing regimens, and patient populations and characteristics, that the results from the Phase 1b KT-621 trial may differ from the Phase 1 KT-621 data, that preclinical and clinical data, including the results from the Phase 1 trial of KT-621, is not predictive of, may be inconsistent with, or more favorable than, data generated from future or ongoing clinical trials of the same product candidate, uncertainties inherent in the initiation, timing and design of future clinical trials, the availability and timing of data from ongoing and future clinical trials and the results of such trials, the ability to successfully demonstrate the safety and efficacy of drug candidates, the timing and outcome of planned interactions with and submissions to regulatory authorities, the availability of funding sufficient for our operating expenses and capital expenditure requirements, the ability of each party to perform its obligations under the Kymera and Gilead exclusive option and license agreement, whether the parties will be able to successfully conduct and complete preclinical development, clinical development and commercialization of any drug candidates under the Kymera and Gilead collaboration, the unexpected emergence of adverse events or other undesirable side effects during preclinical and clinical development, whether Kymera will be able to fund development activities and achieve development goals, including those under the Kymera and Gilead collaboration, risks and uncertainties relating to the timing and receipt of payments from Kymera’s collaboration partners, including milestone payments and royalties on future potential product sales, the availability and timing of data from future clinical trials and the results of such trials, the ability to successfully demonstrate the safety and efficacy of drug candidates, the timing and outcome of planned interactions with and submissions to regulatory authorities, the availability of funding sufficient for our operating expenses and capital expenditure requirements and other factors. These risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the most recent Quarterly Report on Form 10-Q and in subsequent filings with the SEC. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
| KYMERA THERAPEUTICS, INC. | ||||||
| Consolidated Balance Sheets | ||||||
| (In thousands, except share and per share amounts) | ||||||
| (Unaudited) | ||||||
| June 30, 2025 | December 31, 2024 | |||||
| Assets | ||||||
| Cash, cash equivalents and marketable securities | $ | 963,074 | $ | 850,903 | ||
| Accounts Receivable | 40,000 | — | ||||
| Property and equipment, net | 48,572 | 50,457 | ||||
| Right-of-use assets, operating lease | 46,045 | 47,407 | ||||
| Other assets | 33,377 | 29,268 | ||||
| Total assets | $ | 1,131,068 | $ | 978,035 | ||
| Liabilities and Stockholders’ Equity | ||||||
| Deferred revenue | $ | 40,000 | $ | 13,576 | ||
| Operating lease liabilities | 81,601 | 84,017 | ||||
| Other liabilities | 37,987 | 44,823 | ||||
| Total liabilities | 159,588 | 142,416 | ||||
| Total stockholders’ equity | 971,480 | 835,619 | ||||
| Total liabilities, preferred stock and stockholders’ equity | $ | 1,131,068 | $ | 978,035 | ||
| KYMERA THERAPEUTICS, INC. | ||||||||||||||||
| Consolidated Statements of Operations and Comprehensive Loss | ||||||||||||||||
| (In thousands, except share and per share amounts) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Collaboration Revenue | $ | 11,476 | $ | 25,650 | $ | 33,576 | $ | 35,937 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | $ | 78,388 | $ | 59,202 | $ | 158,643 | $ | 108,021 | ||||||||
| General and administrative | 17,645 | 17,373 | 33,916 | 31,747 | ||||||||||||
| Impairment of long-lived assets | — | — | — | 4,925 | ||||||||||||
| Total operating expenses | 96,033 | 76,575 | 192,559 | 144,693 | ||||||||||||
| Loss from operations | (84,557 | ) | (50,925 | ) | (158,983 | ) | (108,756 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest and other income | 8,051 | 8,924 | 16,968 | 18,268 | ||||||||||||
| Interest and other expense | (108 | ) | (61 | ) | (180 | ) | (131 | ) | ||||||||
| Total other income | 7,943 | 8,863 | 16,788 | 18,137 | ||||||||||||
| Net loss attributable to common stockholders | $ | (76,614 | ) | $ | (42,062 | ) | $ | (142,195 | ) | $ | (90,619 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.95 | ) | $ | (0.58 | ) | $ | (1.77 | ) | $ | (1.26 | ) | ||||
| Weighted average common stocks outstanding, basic and diluted | 80,449,405 | 73,059,398 | 80,298,940 | 71,908,963 | ||||||||||||
Investor and Media Contact:
Justine Koenigsberg
Vice President, Investor Relations
investors@kymeratx.com
media@kymeratx.com
857-285-5300
FAQ
What were Kymera Therapeutics (KYMR) key financial results for Q2 2025?
What is the potential value of Kymera's partnership with Gilead announced in Q2 2025?
What were the Phase 1 results for Kymera's KT-621 STAT6 degrader?
When will Kymera begin Phase 2b trials for KT-621?
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