Kymera Therapeutics, Inc. Stock Price, News & Analysis

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company focusing on targeted protein degradation, has announced a proposed public offering of $200 million in common stock and pre-funded warrants. The company plans to grant underwriters a 30-day option for an additional $30 million in shares. Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are acting as joint book-running managers. Kymera intends to use the proceeds to advance its pipeline of preclinical and clinical degrader programs, for working capital, and potentially for in-licensing or acquiring complementary businesses or technologies. The offering is subject to market conditions and is being made through a shelf registration statement filed with the SEC.

Kymera Therapeutics (NASDAQ: KYMR) reported Q2 2024 financial results and provided a business update. Key highlights include:

1. Sanofi plans to expand KT-474/SAR444656 Phase 2 trials in HS and AD.

2. STAT6 degrader program on track for Phase 1 initiation in H2 2024.

3. TYK2 degrader program set to initiate and complete Phase 1 in 2025.

4. KT-253 (MDM2) and KT-333 (STAT3) oncology degrader programs showed major responses in clinical trials.

5. $702 million cash position as of June 30, 2024, with runway into H1 2027.

6. Q2 2024 collaboration revenues: $25.7 million; R&D expenses: $59.2 million; G&A expenses: $17.4 million; Net loss: $42.1 million.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company focused on targeted protein degradation (TPD), has announced it will report its second quarter 2024 financial results on August 7, 2024. The company will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Investors can access the call via phone or through a live webcast available on the company's website. A replay of the webcast will be archived for future reference. This announcement indicates Kymera's commitment to transparency and regular communication with investors regarding its financial performance and progress in developing new small molecule medicines using TPD technology.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company specializing in targeted protein degradation (TPD) therapies, will participate in a fireside chat at the UBS Virtual TPD Day.

The event is scheduled for July 15, 2024, at 1:00 p.m. ET. A live webcast of the presentation will be accessible on the company's website under the 'News and Events' section in the Investors area. An archived replay will be available post-event.

Kymera Therapeutics announced that Sanofi will expand the ongoing Phase 2 trials for KT-474 (SAR444656) in Hidradenitis Suppurativa (HS) and Atopic Dermatitis (AD) after an interim review of safety and efficacy data. The expansion aims to accelerate progress toward pivotal studies. CEO Nello Mainolfi highlighted KT-474's potential to address significant unmet needs in large markets. Further details on trial designs and updated timings will be provided as the expanded Phase 2 trials progress.

Kymera Therapeutics presented new clinical data from its ongoing Phase 1 trial of KT-333, a STAT3 degrader, at the EHA Annual Meeting. KT-333 showed promising results in treating various hematological malignancies, including complete responses in two Hodgkin's lymphoma patients. The trial enrolled 47 patients across seven dose levels, achieving up to 95% STAT3 degradation. Notably, KT-333 was well-tolerated, showing mostly minor side effects. The company plans to continue dose escalation and expects to release more data in the second half of 2024.

Kymera Therapeutics presented new clinical data from its ongoing Phase 1 trial of KT-253, an MDM2 degrader, at the ASCO Annual Meeting. Results showed initial clinical proof of concept with efficacy in patients with tumor types such as MCC and AML. KT-253 demonstrated target engagement and upregulation of p53 pathway biomarkers even at low doses. The compound was generally well tolerated without the hematologic adverse events seen with traditional MDM2 inhibitors. The trial continues with more data expected in the second half of 2024.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company specializing in targeted protein degradation (TPD), announced its participation in the Jefferies 2024 Global Healthcare Conference and the Goldman Sachs 45th Annual Global Healthcare Conference. The Jefferies conference will take place in New York on June 5 at 11:30 a.m. ET, while the Goldman Sachs event will be held in Miami on June 11 at 2:40 p.m. ET. Both events will feature live webcasts, accessible through Kymera's website, with replays available post-events.

Kymera Therapeutics announced new clinical data for KT-253, an MDM2 degrader, from its ongoing Phase 1 trial. The data will be presented at the ASCO Annual Meeting from May 31 to June 4, 2024.

The study includes 18 patients, indicating promising results in tumor response and a favorable safety profile. Partial and complete responses were observed in patients with Merkel cell carcinoma and acute myeloid leukemia, respectively. KT-253 was well-tolerated, with common adverse events being nausea, fatigue, and headache. Further data will be shared later this year.