Kymera Therapeutics, Inc. Stock Price, News & Analysis

Kymera Therapeutics (NASDAQ: KYMR) has completed an upsized public offering of 5,468,250 shares at a price of $47.00 per share, raising approximately $257.0 million in gross proceeds. The offering includes an additional 713,250 shares from underwriters' options. The funds will support Kymera's mission to develop novel small molecule protein degraders to tackle difficult disease targets. The company is focused on the treatment of immune-inflammatory diseases and certain cancers through its innovative Pegasus™ platform.

Kymera Therapeutics (NASDAQ: KYMR) announced the pricing of its public offering of 4,755,000 shares at $47.00 per share, raising approximately $223.5 million in gross proceeds. All shares are offered by Kymera, with underwriters granted a 30-day option to purchase an additional 713,250 shares. The offering is expected to close on July 6, 2021, pending customary conditions. Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities are acting as joint book-running managers for the offering.

Kymera Therapeutics (NASDAQ: KYMR) announced an underwritten public offering of 4,000,000 shares of common stock, with a potential additional 600,000 shares for underwriters. The offering is subject to market conditions and aims to enhance Kymera's ability to advance its protein degradation therapies. Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities are joint book-running managers. A registration statement is filed with the SEC but not yet effective, and the offering will be made only via a prospectus.

Kymera Therapeutics announced positive interim results from the Phase 1 clinical trial of KT-474, showing over 85% target degradation in the Single Ascending Dose (SAD) portion, with a median degradation of 90% at the 300 mg dosage. The degradation was sustained for at least six days without any treatment-related adverse events. The FDA has lifted the partial clinical hold on the Multiple Ascending Dose (MAD) component, allowing Kymera to initiate repeat dosing in July 2021. The study represents a significant step in validating Kymera's targeted protein degradation platform.

Kymera Therapeutics (NASDAQ: KYMR) has appointed Elaine Caughey as Chief Business Officer, bringing over 20 years of biotechnology experience. Caughey previously held leadership roles at Cygnal Therapeutics and Biogen. CEO Nello Mainolfi expressed confidence in Caughey's capabilities to drive growth in Kymera’s pipeline, particularly in targeted protein degradation. This transition is crucial as multiple clinical programs are expected to advance this year. Founded in 2016, Kymera focuses on innovative small molecule degraders targeting disease-causing proteins, aiming to develop transformative therapies.

Kymera Therapeutics has announced promising preclinical data for its IRAKIMiD degrader KT-413, showcasing potent anti-tumor efficacy as both a monotherapy and in combination with other anticancer agents for treating MYD88-mutant DLBCL. Presented at the 16th ICML Meeting, KT-413 exhibited superior tumor regression compared to existing therapies in mouse models. The company aims to submit an IND application and start Phase 1 trials in the second half of 2021, marking a significant step forward in targeted therapy for B-cell lymphomas.

Kymera Therapeutics (NASDAQ: KYMR) announced the selection of an abstract for oral presentation at the 16th Annual International Conference on Malignant Lymphoma, highlighting new preclinical data for its IRAKIMiD degrader KT-413. The data demonstrate KT-413's potential as an effective monotherapy and in combination with treatments like rituximab or BTK inhibitors against MYD88^MT DLBCL. The presentation will cover its differentiated mechanism of action and significant antitumor activity in xenograft models. The session takes place on June 20, 2021, showcasing promising advancements in targeted therapies.

Kymera Therapeutics (NASDAQ: KYMR) will participate in a virtual fireside chat at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9 at 4:40 p.m. ET. The event will be available for live streaming on Kymera's website, with a replay accessible for one month afterward. Kymera is a biopharmaceutical company focused on targeted protein degradation, aiming to develop innovative therapies for chronic diseases. Their proprietary platform enables the creation of small molecule degraders to tackle disease-causing proteins.

Kymera Therapeutics (NASDAQ: KYMR) presented new findings at the Ligase Targeting Drug Development Summit, revealing a novel E3 ligase with selective expression in healthy tissues and broad presence in cancer cells. The research highlights a proof-of-concept STAT3 degrader that demonstrated effective degradation in various cancer cell lines. Kymera's E3 Ligase Whole-Body Atlas has identified around 600 unique E3 ligases, facilitating targeted therapy development. The Pegasus™ platform aims to create tissue-selective degraders for more effective therapies, focusing on previously undrugged proteins.