Kymera Therapeutics, Inc. SEC Filings

Kymera Therapeutics (KYMR) reported Q2 2025 interim results showing strong liquidity while continuing to invest heavily in R&D. The company held $963.1 million of combined cash, cash equivalents and marketable securities at June 30, 2025 and completed a June follow-on that generated aggregate gross proceeds of approximately $288.4 million.

Collaboration revenue totaled $11.5 million for the quarter and $33.6 million for the six months, mainly from the Sanofi collaboration; Kymera also received a $40.0 million upfront payment under an option agreement with Gilead. R&D expense rose to $158.6 million for the six months, contributing to a six-month net loss of $142.2 million and an accumulated deficit of $896.8 million.

Kymera Therapeutics announced that it reported its financial results for the quarter ended June 30, 2025 and furnished the related press release as Exhibit 99.1 to a Current Report on Form 8-K. The filing states the press release is being furnished and not deemed "filed" under the Exchange Act, and the cover page includes interactive data.

The Form 8-K text does not include the underlying financial figures; readers are referred to the furnished press release for detailed results. The report is signed by Nello Mainolfi, Ph.D., President and Chief Executive Officer, confirming the submission of the exhibit.

Baker Bros. Advisors LP and affiliates have filed Amendment No. 2 to Schedule 13D disclosing a 9.5% beneficial stake in Kymera Therapeutics, Inc. (KYMR). The group – Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, and principals Julian C. Baker and Felix J. Baker – now control 6,666,540 shares of common stock, based on 70,157,214 shares outstanding as of 30 Jun 2025.

Recent transaction. On 26 Jun 2025 Kymera priced a public offering of 5,044,500 shares at $44.00 and 655,500 prefunded warrants at $43.9999. Funds managed by Baker Bros. purchased 655,500 common shares and 655,500 prefunded warrants (split 55,191/600,309 between 667 LP and Life Sciences LP). The offering closed 30 Jun 2025.

• Voting / dispositive power: Sole voting and dispositive power over all 6.67 M shares.
• Prefunded warrants: 1-for-1 conversion at $0.0001, exercisable indefinitely but capped at a 4.99% ownership limit (adjustable up to 19.99% with 61 days’ notice).
• Registration rights: Funds obtained shelf and underwritten offering rights (up to three offerings over ten years) effective from 28 Feb 2026.
• Director lock-up: Felix Baker agreed not to sell KYMR securities until 24 Sep 2025 (subject to customary exceptions).

The filing emphasises that the position is investment-motivated; the funds may buy or sell additional securities depending on prevailing conditions, and no plans for extraordinary corporate actions are currently disclosed.

Form 4 filed for Kymera Therapeutics (KYMR) on 30 June 2025 details a sizable insider purchase by the Baker Brothers funds. Two affiliated limited partnerships—667, L.P. and Baker Brothers Life Sciences, L.P.—acquired both common shares and prefunded warrants in an underwritten offering that closed the same day.

• Common stock: 55,191 shares bought by 667, L.P. and 600,309 shares bought by Life Sciences at $44.00 per share.
• Prefunded warrants: Matching blocks of 55,191 and 600,309 warrants purchased at $43.9999 per warrant, exercisable at $0.0001 on a 1-for-1 basis.
• Post-transaction beneficial ownership rises to ~6.65 million common shares and ~11.2 million prefunded warrants across the two funds.
• The warrants carry no expiration but include a 4.99 % beneficial-ownership cap (adjustable up to 19.99 % with 61-day notice) to avoid triggering reporting thresholds.
• Felix J. Baker sits on Kymera’s board; the remaining reporting persons are deemed “directors by deputization.”

The sizeable investment, executed at the public offering price, signals confidence from a well-known biotech investor group, but also adds new equity and derivative securities that modestly dilute existing shareholders.

Kymera Therapeutics (NASDAQ: KYMR) has entered into a definitive underwriting agreement for a sizeable follow-on equity offering. The company will issue 5,044,500 new common shares at $44.00 per share and 655,500 pre-funded warrants at $43.9999 per warrant, equivalent to the share price less the $0.0001 exercise price. Underwriters have a 30-day option to purchase up to 855,000 additional shares.

Gross proceeds could reach $272.7 million if the option is fully exercised; net proceeds are estimated at $237.3 million (or $272.7 million including the option) after fees and expenses. Management plans to deploy the capital to advance its protein-degrader pipeline, expand clinical programs, and for general corporate purposes. With existing cash plus the offering proceeds, Kymera projects a cash runway into mid-2028.

The pre-funded warrants are immediately exercisable, subject to ownership limits (initially 4.99 % or 9.99 %, adjustable up to 19.99 %). They will not be listed on any exchange. The company also executed a Registration Rights Agreement covering up to 27,963,945 shares held by affiliated funds (Baker Brothers, Atlas Venture, and BVF Partners), allowing resale registration requests beginning 28 Feb 2026.

Press releases announcing the launch and pricing were issued on 25-26 Jun 2025. The transaction strengthens liquidity but introduces dilution, as the new shares and warrant exercises could expand the share count by roughly 6.6 million (plus any over-allotment), representing a high-single-digit percentage of the current float.

Kymera Therapeutics (NASDAQ:KYMR) filed an 8-K disclosing the June 25 2025 annual shareholder meeting results. Shareholders re-elected Jeffrey Albers and Felix Baker as Class II directors, approved the non-binding advisory vote on executive compensation, and ratified Ernst & Young as the independent auditor for fiscal 2025. No additional matters were submitted.

Kymera Therapeutics announced a public offering of 5,044,500 shares of common stock at $44.00 per share and 655,500 pre-funded warrants at $43.9999 per warrant. The total offering is expected to raise approximately $250.8 million before underwriting discounts and commissions.

Key offering details:

• Net proceeds before expenses: $237.9 million
• Underwriters granted 30-day option to purchase additional 855,000 shares
• Pre-funded warrants have $0.0001 exercise price with no expiration date
• Joint book-running managers include Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen, and Leerink Partners

The offering is expected to close on June 30, 2025. The pre-funded warrants will not be listed on Nasdaq. Proceeds will support research and development programs, including TYK2, IRF5, STAT6, and IRAK4 programs, as well as potential IND submissions to the FDA.

Kymera Therapeutics (KYMR) reported insider trading activity on June 28, 2025, involving stock options granted to Baker Bros. Advisors LP and affiliated entities. Felix J. Baker, a director of Kymera, received 16,000 non-qualified stock options with the following terms:

• Exercise price: $46.47 per share
• Grant date: June 25, 2025
• Expiration date: June 24, 2035
• Vesting: Earlier of first anniversary or next annual stockholder meeting

The filing details complex beneficial ownership arrangements where Baker Bros. Advisors LP serves as investment adviser to two funds: Baker Brothers Life Sciences LP and 667 LP. Per adviser policies, Felix Baker has no direct pecuniary interest in the options, with all economic benefits flowing to the funds. Julian Baker and Felix Baker may have indirect interests through their ownership in the funds' general partners. Baker Bros. Advisors LP maintains complete voting and investment control over the securities.