[8-K] Kymera Therapeutics, Inc. Reports Material Event

Rhea-AI Filing Summary

Kymera Therapeutics (NASDAQ:KYMR) announced a significant update to its Sanofi collaboration regarding IRAK4-targeting drug candidates. Sanofi has selected KT-485/SAR447971, an oral IRAK4 inhibitor for immuno-inflammatory diseases, to advance into clinical studies. The company received a $20 million milestone payment in Q2 2025 and is eligible for up to $975 million in additional milestones. Notably, Sanofi will not advance KT-474 and has exercised its participation election right for the IRAK4 target under the existing collaboration agreement.

Positive

• Achieved $20 million milestone payment in Q2 2025
• Potential for up to $975 million in additional milestone payments
• KT-485 selected to advance into clinical studies
• Strengthened partnership with Sanofi through participation election rights

Negative

• Discontinuation of KT-474 development program
• Clinical studies not expected to begin until next year

Insights

Biotech Development Specialist

Sanofi's selection of KT-485 over KT-474 and $975M milestone potential signals strong confidence in Kymera's drug development capabilities.

The selection of KT-485 represents a strategic pivot in the IRAK4 program, with Sanofi making a calculated decision based on extensive preclinical data. The substantial milestone structure, including the immediate $20M payment and potential for $975M more, indicates high confidence in the drug candidate's potential. The exercise of participation election rights by Sanofi further strengthens the partnership and demonstrates their commitment to the program's success.

Partnership Strategy Analyst

Partnership evolution strengthens Kymera's position with significant near-term catalyst and substantial milestone potential.

This development represents a material strengthening of the Sanofi-Kymera collaboration. The $20M milestone achievement provides immediate financial benefit, while the potential for $975M in additional milestones creates significant future value opportunities. Sanofi's decision to exercise its participation election right indicates deeper commitment to the partnership, though the decision to not advance KT-474 suggests a focused approach to resource allocation.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 25, 2025

KYMERA THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-39460		81-2992166
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

Kymera Therapeutics, Inc.

500 North Beacon Street, 4th Floor

Watertown, Massachusetts 02472

(Address of principal executive offices, including zip code)

(857) 285-5300

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trade Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		KYMR		The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On June 25, 2025, Kymera Therapeutics, Inc. (the “Company”) issued a press release, a copy of which is furnished herewith as Exhibit 99.1.

The information in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

Item 8.01 Other Events

On June 25, 2025, the Company announced an update to its collaboration with Sanofi S.A. (“Sanofi”) on the development of drug candidates targeting IRAK4 outside of the oncology and immuno-oncology fields.

Sanofi has informed the Company that KT-485/SAR447971, an oral, highly potent and selective development candidate targeting IRAK4 for immuno-inflammatory diseases that the Company has discovered and characterized through preclinical studies, has been selected to advance into clinical studies. Following extensive preclinical work supporting its robust development potential, KT-485 is being prioritized for development under the companies’ existing IRAK4 collaboration, and is expected to advance into Phase 1 testing next year. Based on the planned development of KT-485, Sanofi will not advance KT-474.

In conjunction with its plans to advance KT-485, Sanofi also communicated its decision to exercise its participation election right for the IRAK4 target under the terms of the companies’ existing collaboration agreement. Under the existing agreement, the Company achieved a $20 million milestone in the second quarter of 2025 related to preclinical activities associated with KT-485. The Company is eligible to receive up to $975 million of potential clinical, regulatory and commercial milestones related to KT-485, including an additional milestone upon the start of Phase 1 clinical testing.

The disclosure under this Item 8.01 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 KT-485, including the therapeutic potential, clinical benefits and safety thereof. 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 Current Report on Form 8-K 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 timing and anticipated results of our current and future preclinical studies and clinical trials, supply chain, strategy and future operations; the delay of any current and future preclinical studies or clinical trials or the development of Kymera Therapeutics’ drug candidates; the risk that the results of current preclinical studies and clinical trials may not be predictive of future results in connection with current or future preclinical and clinical trials, including for KT-474 and KT-485; Kymera Therapeutics’ ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Kymera Therapeutics’ planned interactions with to regulatory authorities; obtaining, maintaining and protecting its intellectual property; and Kymera Therapeutics’ relationships with its existing and future collaboration partners, 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 Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company’s views only as of the date on which it was made and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims 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.

Item 9.01. Exhibits

(d) Exhibits

Exhibit No.		Description
99.1		Press release issued by Kymera Therapeutics, Inc. on June 25, 2025, furnished hereto.
104		Cover Page Interactive Data

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				Kymera Therapeutics, Inc.
Date: June 25, 2025				By:		/s/ Nello Mainolfi, Ph.D.
						Nello Mainolfi, Ph.D.

FAQ

What milestone payment did KYMR receive from Sanofi in Q2 2025?

Kymera received a $20 million milestone payment related to preclinical activities associated with KT-485.

How much additional milestone payments could KYMR receive for KT-485?

Kymera is eligible to receive up to $975 million in potential clinical, regulatory and commercial milestones related to KT-485, including a milestone upon Phase 1 clinical testing initiation.

When is KT-485 expected to enter clinical trials?

KT-485 is expected to advance into Phase 1 testing next year.

What happened to KYMR's KT-474 program?

Sanofi has decided not to advance KT-474 in conjunction with their plans to advance KT-485.