KYMR Kymera Therapeutics Inc.

44.71
-0.81  -2%
Previous Close 45.52
Open 45.19
52 Week Low 25.43
52 Week High 91.92
Market Cap $2,013,295,503
Shares 45,030,094
Float 34,411,715
Enterprise Value $1,733,702,878
Volume 171,006
Av. Daily Volume 475,690
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Upcoming Catalysts

Drug Stage Catalyst Date
KT-474
Hidradenitis suppurativa / atopic dermatitis
Phase 1
Phase 1
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STAT3 program
Oncology
Phase 1
Phase 1
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KT-413
Diffuse large B-cell lymphoma (DLBCL)
Phase 1
Phase 1
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Latest News

  1. New in vivo data demonstrate the broad anti-inflammatory activity of KT-474 and its superiority compared to a clinically active small molecule IRAK4 kinase inhibitor in preclinical immune-inflammatory models

    KT-474 is in Phase 1 clinical development as a first-in-class oral IRAK4 degrader for the treatment of immune-inflammatory diseases, such as atopic dermatitis, hidradenitis suppurativa, rheumatoid arthritis, and potentially others

    WATERTOWN, Mass., May 10, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today presented positive late-breaking preclinical data demonstrating the…

    New in vivo data demonstrate the broad anti-inflammatory activity of KT-474 and its superiority compared to a clinically active small molecule IRAK4 kinase inhibitor in preclinical immune-inflammatory models

    KT-474 is in Phase 1 clinical development as a first-in-class oral IRAK4 degrader for the treatment of immune-inflammatory diseases, such as atopic dermatitis, hidradenitis suppurativa, rheumatoid arthritis, and potentially others

    WATERTOWN, Mass., May 10, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today presented positive late-breaking preclinical data demonstrating the IRAK4 degrader KT-474's superiority compared to a clinically active small molecule IRAK4 kinase inhibitor across a wide variety of immune-inflammatory preclinical in vivo models. The late-breaking data are being presented at the American Association of Immunologists' Virtual IMMUNOLOGY2021™ annual meeting, taking place from May 10 - 15, 2021 (Abstract 1307: IRAK4 degradation abrogates cytokine release and improves disease endpoints in murine models of IL-33/36- as well as Th17-driven inflammation).

    "We have developed a first-in-class, orally bioavailable IRAK4 degrader, KT-474, to eliminate both the kinase and scaffolding functions of IRAK4 and thereby block TLR/IL-1R-mediated inflammation more broadly compared to other therapeutic approaches," said Jared Gollob, MD, Chief Medical Officer at Kymera Therapeutics. "These new data demonstrate both in vitro and in vivo the superiority of KT-474 over a clinically active small molecule IRAK4 kinase inhibitor in inhibiting inflammation driven by IL-1 family cytokines including IL-33 and IL-36, which are involved in diseases such as atopic dermatitis and hidradenitis suppurativa, as well as by Th17 cells involved in a variety of different autoimmune diseases including multiple sclerosis and inflammatory bowel disease."

    Data highlights include:

    • KT-474's efficacy and superiority to IRAK4 small molecule inhibitors were demonstrated across multiple mechanistic and disease models of inflammation
    • In mouse models of skin inflammation induced by either IL-33 or IL-36 and an IL-33 intraperitoneal challenge model, KT-474 dose-dependently reduced IRAK4 levels in blood cells and inhibited skin inflammation and/or systemic as well as local cytokine production to the same extent as a potent corticosteroid (dexamethasone) and more potently than an IRAK4 small molecule inhibitor
    • In a mouse model of Th17-mediated multiple sclerosis, KT-474 was superior to IRAK4 kinase inhibition and similar to FDA-approved fingolimod (FTY720) in significantly reducing clinical disease scores

    "These KT-474 data demonstrate both the broad clinical potential and superiority over clinically active agents for the treatment of a wide variety of immune-inflammatory diseases," said Nello Mainolfi, PhD, Co-Founder, President and CEO, Kymera Therapeutics. "These findings and the recently disclosed non-interventional study data continue to support the breadth of our clinical development program and increase our confidence in the key de-risking dataset, expected in the fourth quarter, demonstrating pharmacokinetic, pharmacodynamic, and mechanistic proof-of-concept in our randomized, placebo-controlled study in healthy volunteers and patients with atopic dermatitis or hidradenitis suppurativa."

    Presentation Details:

    • Abstract: 1307
    • Title: IRAK4 degradation abrogates cytokine release and improves disease endpoints in murine models of IL-33/36- as well as Th17-driven inflammation
    • Session: Novel therapeutic approaches for the modulation of autoimmune and allergic diseases
    • Session Time: 9:00 a.m. - 10:30 a.m. ET on Thursday, May 13, 2021
    • Presenter: Cedric Hubeau, Ph.D.

    The presentation is available for download at https://www.kymeratx.com/scientific-resources/.

    About IRAK4 and KT-474

    IRAK4 is a key protein involved in inflammation mediated by the activation of toll-like receptors (TLRs) and IL-1 receptors (IL-1Rs). Aberrant activation of these pathways is the underlying cause of multiple immune-inflammatory conditions. KT-474, a potential first-in-class, orally bioavailable IRAK4 degrader, is being developed for the treatment of TLR/IL-1R-driven immune-inflammatory diseases with high unmet medical need, such as atopic dermatitis, hidradenitis suppurativa, rheumatoid arthritis, and potentially others. KT-474 is designed to block TLR/IL-1R-mediated inflammation more broadly compared to monoclonal antibodies targeting single cytokines, and to enable pathway inhibition that is superior to IRAK4 kinase inhibitors by abolishing both the kinase and scaffolding functions of IRAK4. In February 2021, Kymera initiated dosing of healthy volunteers in a first-in-human Phase 1 single and multiple ascending dose trial designed to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of orally administered KT-474 in adult healthy volunteers and patients with atopic dermatitis or hidradenitis suppurativa.

    Kymera is collaborating with Sanofi on the development of degrader candidates targeting IRAK4, including KT-474 (SAR444656), outside of the oncology and immuno-oncology fields.

    About Pegasus™

    Pegasus™ is Kymera Therapeutics' proprietary protein degradation platform, created by its team of experienced drug hunters to improve the effectiveness of targeted protein degradation and generate a pipeline of novel therapeutics for previously undruggable diseases. The platform consists of informatics-driven target identification, novel E3 ligases, proprietary ternary complex predictive modeling capabilities, and degradation tools.

    About Kymera Therapeutics

    Kymera Therapeutics (NASDAQ:KYMR) is a clinical-stage biopharmaceutical company founded with the mission to discover, develop, and commercialize transformative therapies while leading the evolution of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera's Pegasus™ platform enables the discovery of novel small molecule degraders designed to harness the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera's initial programs are IRAK4, IRAKIMiD, and STAT3, each of which addresses high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. Kymera's goal is to be a fully integrated biopharmaceutical company at the forefront of this new class of protein degrader medicines, with a pipeline of novel degrader medicines targeting disease-causing proteins that were previously intractable.

    Founded in 2016, Kymera is headquartered in Watertown, Mass. Kymera has been named a "Fierce 15" biotechnology company by FierceBiotech and has been recognized by the Boston Business Journal as one of Boston's "Best Places to Work." For more information about our people, science, and pipeline, please visit www.kymeratx.com or follow us on Twitter or LinkedIn.

    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 regarding its: beliefs regarding the potential clinical impact of KT-474, including resulting datasets, and plans to present new data; strategy, business plans and objectives for the IRAK4, IRAKIMiD and STAT3 degrader programs; beliefs regarding the roles of IRAK4 and the potential of an IRAK4 degrader to improve patient outcomes; and plans and timelines for the clinical development of Kymera Therapeutics' product candidates, including the therapeutic potential and clinical benefits thereof. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" 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 those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our current preclinical studies and future clinical trials, strategy and future operations; the delay of any current preclinical studies or future clinical trials or the development of Kymera Therapeutics' drug candidates; the risk that the results of current preclinical studies may not be predictive of future results in connection with future clinical trials; Kymera Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company's planned interactions with regulatory authorities, including the resolution of the current partial clinical hold for KT-474; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the Annual Report on Form 10-Q for the period ended March 31, 2021, filed on May 6, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Kymera Therapeutics' subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kymera Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. Kymera Therapeutics 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.

    Investor Contact:

    Paul Cox

    VP, Investor Relations and Communications

     

    917-754-0207

    Media Contact:

    Lissette L. Steele

    Verge Scientific Communications for Kymera Therapeutics

     

    202-930-4762



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  2. Phase 1 trial of first-in-class oral IRAK4 degrader KT-474 initiated in February; on track to present human proof-of-biology data in 4Q 2021

    Oncology degrader programs KT-413 and KT-333 expected to enter clinical development in 2H 2021

    WATERTOWN, Mass., May 06, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today reported business highlights and financial results for the first quarter ended March 31, 2021.

    "This month marks Kymera's five-year anniversary, going from idea generation to clinical entry, and now towards becoming a fully integrated, best-in-class degrader medicines…

    Phase 1 trial of first-in-class oral IRAK4 degrader KT-474 initiated in February; on track to present human proof-of-biology data in 4Q 2021

    Oncology degrader programs KT-413 and KT-333 expected to enter clinical development in 2H 2021

    WATERTOWN, Mass., May 06, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today reported business highlights and financial results for the first quarter ended March 31, 2021.

    "This month marks Kymera's five-year anniversary, going from idea generation to clinical entry, and now towards becoming a fully integrated, best-in-class degrader medicines company," said Nello Mainolfi, PhD, Co-Founder, President and CEO of Kymera Therapeutics. "This year, we have launched the first randomized, placebo-controlled Phase 1 trial with a heterobifunctional degrader in healthy volunteers and patients with immune-inflammatory diseases and are on our way to advancing our two lead degrader programs in oncology into the clinic, while expanding our pipeline of novel protein degraders and continuing to broaden our platform and organizational capabilities."

    Program Updates and Milestones

    Kymera is discovering and developing novel small molecule therapeutics designed to selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system, with an initial focus on immune-inflammatory diseases and oncology.

    IRAK4 Degrader Program

    IRAK4 is a key protein involved in inflammation mediated by the activation of toll-like receptors (TLRs) and IL-1 receptors (IL-1Rs). Aberrant activation of these pathways is the underlying cause of multiple immune-inflammatory conditions. KT-474, a potential first-in-class, orally bioavailable IRAK4 degrader, is being developed for the treatment of TLR/IL-1R-driven immune-inflammatory diseases with high unmet medical need, such as atopic dermatitis, hidradenitis suppurativa, rheumatoid arthritis, and potentially others. KT-474 is designed to block TLR/IL-1R-mediated inflammation more broadly compared to monoclonal antibodies targeting single cytokines, and to enable pathway inhibition that is superior to IRAK4 kinase inhibitors by abolishing both the kinase and scaffolding functions of IRAK4.

    Recent Updates:

    • In February 2021, Kymera initiated dosing of healthy volunteers in a first-in-human Phase 1 single and multiple ascending dose trial designed to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of orally administered KT-474 in adult healthy volunteers and patients with atopic dermatitis or hidradenitis suppurativa.
    • In May 2021, Kymera presented new data evaluating levels of IRAK4 and inflammatory biomarkers in patients with hidradenitis suppurativa from its non-interventional study of patients with hidradenitis suppurativa or atopic dermatitis. The data demonstrated that IRAK4 protein levels were overexpressed in hidradenitis suppurativa skin compared to the skin of healthy subjects, and that transcripts for multiple mediators of inflammation were upregulated in hidradenitis suppurativa skin lesions, correlating with IRAK4 protein overexpression as measured by mass spectrometry or immunofluorescence. KT-474 inhibited TLR-stimulated upregulation of hidradenitis suppurativa-overexpressed inflammatory genes in monocytes from healthy subjects. These data provide further evidence for the central role of IRAK4 in the pleiotropic inflammation in hidradenitis suppurativa and support the rationale for targeting IRAK4 with the IRAK4 degrader KT-474. The data were presented in a late-breaking poster session at the Society for Investigative Dermatology 2021 Annual Meeting.
    • A late-breaking abstract featuring new preclinical data demonstrating KT-474's superiority to small molecule IRAK4 kinase inhibitors across immune-inflammatory preclinical models, titled "IRAK4 degradation abrogates cytokine release and improves disease endpoints in murine models of IL-33/36- as well as Th17-driven inflammation," was recently accepted for presentation at the at the American Association of Immunologists' Virtual IMMUNOLOGY2021™, taking place May 10-15, 2021.

    Expected Milestones:

    • Presentation of KT-474 preclinical data at the American Association of Immunologists' Virtual IMMUNOLOGY2021™ annual meeting (May 2021)
    • Initiation of enrollment in multiple ascending dose portion of Phase 1 trial of KT-474 pending FDA clearance, including healthy volunteers and a subsequent cohort of patients with atopic dermatitis or hidradenitis suppurativa (2H21)
    • Establish Phase 1 proof-of-biology in healthy volunteers (4Q21)

    IRAKIMiD Degrader Program

    IRAKIMiDs are novel heterobifunctional degraders designed to degrade both IRAK4 and IMiD substrates, including Ikaros and Aiolos, with a single small molecule. IRAKIMiDs synergistically target both the MYD88-NFkB and IRF4-Type 1 interferon pathways to enhance and broaden anti-tumor activity in multiple contexts, such as MYD88-mutant diffuse large B-cell lymphoma (DLBCL). KT-413 is being developed initially for the treatment of relapsed/refractory MYD88-mutant DLBCL, with the potential to expand into other MYD88-mutant indications and IL-1R/NFkB-driven malignancies. In preclinical studies, KT-413 has demonstrated a potential first-in-class profile as a targeted therapy for MYD88-mutant DLBCL, including strong single-agent antitumor activity against MYD88-mutant lymphomas in vitro and in mouse xenograft models derived from lymphoma cell lines and patient tumors, which has led to rapid, complete, and sustained tumor regressions. Kymera plans to submit an Investigational New Drug Application (IND) to the FDA and, if cleared, initiate a Phase 1 clinical trial in relapsed/refractory B cell lymphomas, including MYD88-mutant DLBCL, in the second half of 2021.

    Recent Updates:

    • In April 2021, Kymera presented new preclinical data showing how the dual targeting of IRAK4 and IMiD substrates by KT-413 synergizes to impact signaling and cell killing in MYD88-mutant DLBCL in a manner that is distinct from IMiDs or selective IRAK4 targeting alone. The data were presented in a late-breaking poster session at the American Association of Cancer Research (AACR) Annual Meeting 2021.

    Expected Milestones:

    • Submission of KT-413 IND application, and if cleared, initiation of Phase 1 clinical trial in relapsed/refractory B cell lymphomas, including MYD88-mutant DLBCL (2H21)
    • Presentation of additional KT-413 preclinical data and potential indication expansion strategies (2H21)
    • Establish Phase 1 proof-of-biology and initial clinical proof-of-concept in patients (2022)

    STAT3 Degrader Program

    Kymera is developing selective STAT3 degraders for the treatment of hematological malignancies and solid tumors, as well as autoimmune diseases and fibrosis. STAT3 is a transcription factor activated through a variety of different cytokine and growth factor receptors via Janus kinases (JAKs), as well as through oncogenic fusion proteins and mutations in STAT3 itself. Long considered an undruggable target, STAT3 hyperactivation is prominent in numerous liquid and solid tumors, including clinically aggressive lymphomas. Kymera's potent and selective STAT3 degraders have demonstrated strong anti-tumor effects in mouse xenograft and syngeneic models of liquid and solid tumors.

    Recent Updates:

    • In February 2021, Kymera nominated KT-333 as a STAT3 development candidate for liquid and solid tumor indications and the Company has initiated IND-enabling activities. KT-333 has demonstrated high potency and selectivity in both in vitro and in vivo preclinical models, including significant and sustained anti-tumor activity in several preclinical models of liquid and solid tumors.

    Expected Milestones:

    • Presentation of additional preclinical data in liquid and solid tumors (2H21)
    • Submission of KT-333 IND application, and if cleared, initiation of Phase 1 clinical trial in relapsed/refractory liquid and solid tumors (4Q21)
    • Establish Phase 1 proof-of-biology and initial clinical proof-of-concept in patients (2022)

    Platform and Discovery Programs

    Kymera is also actively advancing a broad pipeline of preclinical programs across a wide variety of diseases, both internally and in collaboration with existing partners Vertex Pharmaceuticals and Sanofi. The internal programs continue to be focused on undrugged or inadequately drugged nodes within highly validated pathways in immune-inflammatory and oncology indications. Kymera is also developing a new generation of tissue-selective or -restrictive degrader medicines with the goal of drugging an entirely new set of protein targets.

    Expected Milestones:

    • Presentation on Kymera's Pegasus™ platform with updates on the identification of a tissue-selective E3 ligase demonstrating degradation across multiple cancer and immune cell types, by Chris De Savi, PhD, Vice President, Head of Drug Discovery at Kymera, at the inaugural Ligase Targeting Drug Development Summit taking place on May 25 - 27, 2021
    • Continue pipeline expansion by advancing discovery programs toward IND-enabling studies

    Corporate Updates

    • In March 2021, the Company appointed Elena Ridloff, CFA to its Board of Directors and as Chair of the Audit Committee. Ms. Ridloff joins Kymera's Board with two decades of biopharmaceutical industry experience, including senior leadership positions at commercial-stage companies and as an institutional investor.
    • In April 2021, the Boston Business Journal named Kymera Therapeutics to its 2021 Best Places to Work, an exclusive ranking of the Massachusetts companies that have built outstanding work environments for their people.
    • In May 2021, Kymera appointed Juliet Williams, PhD, as Senior Vice President, Head of Biology. Dr. Williams joins Kymera with 20 years of drug development experience, including service at Novartis, Sanofi, Millennium, and Curis.
    • Kymera plans to host its inaugural R&D Day in 2H21 to unveil its next pathway/programs approaching clinical development, as well as to outline the Company's vision and goals for the next five years.

    First Quarter 2021 Financial Results

    Collaboration Revenues: Collaboration revenues were $18.7 million for the first quarter of 2021, compared to $3.4 million for the same period of 2020. Collaboration revenues include revenue from our Sanofi and Vertex collaborations.

    Research and Development Expenses: Research and development expenses were $26.0 million for the first quarter of 2021, compared to $12.1 million for the same period of 2020. This increase was primarily due to expenses related to IND-enabling studies and clinical activities for our IRAK4 and IRAKIMiD programs, lead optimization activities for our STAT3 program, investments in our platform and exploratory programs, the Vertex collaboration, as well as an increase in occupancy and related costs due to continued growth in the research and development organization.

    General and Administrative Expenses: General and administrative expenses were $5.9 million for the first quarter of 2021, compared to $2.6 million for the same period of 2020. This increase was primarily due to increases in legal and professional service fees in support of the Company's growth and an increase in personnel, facility, occupancy, and other expenses from an increase in headcount to support growth as a public company.

    Net Loss: Net loss was $13.1 million for the first quarter of 2021, compared to a net loss of $10.9 million for the same period of 2020.

    Cash and Cash Equivalents: As of March 31, 2021, Kymera had approximately $435.2 million in cash, cash equivalents, and investments. Kymera expects that its cash, cash equivalents, and investments as of December 31, 2020, excluding any future potential milestones from collaborations, will enable the Company to fund its operational plans into 2025 while the Company continues to identify opportunities to accelerate growth and expand its pipeline, technologies, and clinical indications.

    About Kymera Therapeutics

    Kymera Therapeutics (NASDAQ:KYMR) is a clinical-stage biopharmaceutical company founded with the mission to discover, develop, and commercialize transformative therapies while leading the evolution of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera's Pegasus™ platform enables the discovery of novel small molecule degraders designed to harness the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera's initial programs are IRAK4, IRAKIMiD, and STAT3, each of which addresses high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. Kymera's goal is to be a fully integrated biopharmaceutical company at the forefront of this new class of protein degrader medicines, with a pipeline of novel degrader medicines targeting disease-causing proteins that were previously intractable.

    Founded in 2016, Kymera is headquartered in Watertown, Mass. Kymera has been named a "Fierce 15" biotechnology company by FierceBiotech and has been recognized by the Boston Business Journal as one of Boston's "Best Places to Work." For more information about our people, science, and pipeline, please visit www.kymeratx.com or follow us on Twitter or LinkedIn.

    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 regarding its: strategy, business plans and objectives for the IRAK4, IRAKIMiD and STAT3 degrader programs; and plans and timelines for the clinical development of Kymera Therapeutics' product candidates, including the therapeutic potential and clinical benefits thereof. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" 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 those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our current preclinical studies and future clinical trials, strategy and future operations; the delay of any current preclinical studies or future clinical trials or the development of Kymera Therapeutics' drug candidates; the risk that the results of current preclinical studies may not be predictive of future results in connection with future clinical trials; Kymera Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company's planned interactions with regulatory authorities, including the resolution of the current partial clinical hold for KT-474; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the Annual Report on Form 10-Q for the period ended March 31, 2021, expected to be filed on or about May 6, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Kymera Therapeutics' subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kymera Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. Kymera Therapeutics 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.

    Investors:

    Paul Cox

    VP, Investor Relations and Communications



    917-754-0207

    Media:

    Lissette L. Steele

    Verge Scientific Communications for Kymera Therapeutics



    202-930-4762

    KYMERA THERAPEUTICS, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands)

    (Unaudited)

      March 31,

    2021
      December 31,

    2020
     
    Assets        
    Cash, cash equivalents and marketable securities $435,176  $458,733 
    Property and equipment, net  10,752   10,841 
    Other assets  18,624   17,601 
    Total assets $464,552  $487,175 
    Liabilities and Stockholders' Equity         
    Deferred revenue $152,566  $170,390 
    Other liabilities  36,739   32,897 
    Total liabilities  189,305   203,287 
    Total stockholders' equity  275,247   283,888 
    Total liabilities and stockholders' equity $464,552  $487,175 

    KYMERA THERAPEUTICS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (In thousands, except for share and per share amounts)

    (Unaudited)

      Three Months Ended

    March 31,
      2021  2020 
    Collaboration Revenue—from related parties $18,702   3,428 
           
    Operating expenses:      
    Research and development $25,962  $12,116 
    General and administrative  5,909   2,559 
    Total operating expenses  31,871   14,675 
    Loss from operations  (13,169)  (11,247)
    Other income (expense):      
    Interest Income  118   349 
    Interest Expense  (24  (34)
    Total other income:  94   315 
    Net loss $(13,075) $(10,932)
    Deemed dividend from exchange of convertible preferred stock     (9,050)
    Net loss attributable to common stockholders $(13,075) $(19,982)
    Net loss per share attributable to common stockholders, basic and diluted $(0.29) $(10.23)
    Weighted average common stocks outstanding, basic and diluted  44,649,572   1,952,667 



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  3. WATERTOWN, Mass., May 05, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced the appointment of Juliet Williams, PhD, as Senior Vice President, Head of Biology. Dr. Williams joins Kymera with 20 years of experience in the biopharmaceutical industry, including leadership roles in drug discovery and translational development.

    "I'm very excited to welcome Juliet to the leadership team at Kymera," said Nello Mainolfi, PhD, Co-Founder, President and CEO, Kymera Therapeutics. "Juliet has been a successful drug hunter in both biotech and large pharma. Her expertise and leadership…

    WATERTOWN, Mass., May 05, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced the appointment of Juliet Williams, PhD, as Senior Vice President, Head of Biology. Dr. Williams joins Kymera with 20 years of experience in the biopharmaceutical industry, including leadership roles in drug discovery and translational development.

    "I'm very excited to welcome Juliet to the leadership team at Kymera," said Nello Mainolfi, PhD, Co-Founder, President and CEO, Kymera Therapeutics. "Juliet has been a successful drug hunter in both biotech and large pharma. Her expertise and leadership in target identification, drug discovery, and translational drug development across small molecule and innovative drug classes will be invaluable as we continue to expand Kymera's capabilities to build a best-in-class degrader medicines company."

    "I am excited to join Kymera during a transformational time as the Company has initiated a first-in-class development program in immunology and inflammation and expects to advance its two lead oncology degrader programs into clinical development later this year," said Dr. Williams. "I look forward to working with the team to continue to advance our platform and science and I am inspired by the opportunity to invent and deliver new medicines for patients in need."

    Dr. Williams joins Kymera with 20 years of drug development experience, including service at Novartis, Sanofi, Millennium, and Curis. Prior to Kymera, she led oncology small molecule drug discovery at Novartis Institutes for Biomedical Research and served in Head of Oncology Pharmacology roles at both Novartis and Sanofi. She holds a degree in Natural Sciences (Biochemistry) from the University of Cambridge and a PhD in Developmental Biology from University College London. Dr. Williams completed a Wellcome Postdoctoral Fellowship at University College London in Developmental Biology.

    About Kymera Therapeutics

    Kymera Therapeutics (NASDAQ:KYMR) is a clinical-stage biopharmaceutical company founded with the mission to discover, develop, and commercialize transformative therapies while leading the evolution of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera's Pegasus™ platform enables the discovery of novel small molecule degraders designed to harness the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera's initial programs are IRAK4, IRAKIMiD, and STAT3, which each address high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. Kymera's goal is to be a fully integrated biopharmaceutical company at the forefront of this new class of protein degrader medicines, with a pipeline of novel degrader medicines targeting disease-causing proteins that were previously intractable.

    Founded in 2016, Kymera is headquartered in Watertown, Mass. Kymera has been named a "Fierce 15" biotechnology company by FierceBiotech and has been recognized by the Boston Business Journal as one of Boston's "Best Places to Work." For more information about our people, science, and pipeline, please visit www.kymeratx.com or follow us on Twitter or LinkedIn.

    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 regarding its: beliefs regarding its program in immunology and inflammation and that it is first-in-class; plans to continue to expand capabilities to build a best-in-class degrader medicines company; expectations for Dr. Williams; strategy, business plans and objectives for the IRAK4, IRAKIMiD and STAT3 degrader programs and the clinical development of Kymera Therapeutics' product candidates, including the therapeutic potential and clinical benefits thereof. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" 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 those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which Kymera Therapeutics has operations or does business, as well as on the timing and anticipated results of its current preclinical studies and future clinical trials, strategy and future operations; the delay of any current preclinical studies or future clinical trials or the development of Kymera Therapeutics' drug candidates; the risk that the results of current preclinical studies may not be predictive of future results in connection with future clinical trials; Kymera Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of Kymera Therapeutics' planned interactions with regulatory authorities, including the resolution of the current partial clinical hold for KT-474; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the Annual Report on Form 10-K for the period ended December 31, 2020, filed on March 11, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Kymera Therapeutics' subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kymera Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. Kymera Therapeutics 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.

    Investor Contact:

    Paul Cox

    VP, Investor Relations and Communications



    917-754-0207

    Media Contact:

    Lissette L. Steele

    Verge Scientific Communications for Kymera Therapeutics



    202-930-4762



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  4. WATERTON, Mass., May 04, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced that the Company will present at the upcoming investor conferences:

    • BofA Securities 2021 Virtual Healthcare Conference on Thursday, May 13 at 3:30 p.m. ET
    • UBS Global Healthcare Virtual Conference on Tuesday, May 25 at 12:00 p.m. ET

    A live webcast of each event will be available under "Events and Presentations" in the Investors section of the Company's website at www.kymeratx.com. Archived webcast replays of the presentations will also be available on the website for approximately 30 days.

    About

    WATERTON, Mass., May 04, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced that the Company will present at the upcoming investor conferences:

    • BofA Securities 2021 Virtual Healthcare Conference on Thursday, May 13 at 3:30 p.m. ET
    • UBS Global Healthcare Virtual Conference on Tuesday, May 25 at 12:00 p.m. ET

    A live webcast of each event will be available under "Events and Presentations" in the Investors section of the Company's website at www.kymeratx.com. Archived webcast replays of the presentations will also be available on the website for approximately 30 days.

    About Kymera Therapeutics

    Kymera Therapeutics is a clinical-stage biopharmaceutical company focused on advancing the field of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera's Pegasus™ targeted protein degradation platform harnesses the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera is accelerating drug discovery with an unmatched ability to target and degrade the most intractable of proteins, and advance new treatment options for patients. Kymera's initial programs are IRAK4, IRAKIMiD, and STAT3, which each address high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. For more information, visit www.kymeratx.com.

    Investor Contact:

    Paul Cox

    VP, Investor Relations and Communications



    917-754-0207

    Media Contact:

    Lissette L. Steele

    Verge Scientific Communications for Kymera Therapeutics



    202-930-4762



    Primary Logo

    View Full Article Hide Full Article
  5. WATERTOWN, Mass., May 03, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced that a late-breaking abstract featuring new preclinical data for its IRAK4 degrader KT-474 has been selected for presentation at the American Association of Immunologists' Virtual IMMUNOLOGY2021™ annual meeting, taking place from May 10 - 15, 2021.

    "We are excited to present new in vivo data demonstrating KT-474's broad and potent anti-inflammatory activity in both mechanistic and disease models of inflammation," said Nello Mainolfi, PhD, Co-Founder, President and CEO, Kymera Therapeutics. "These…

    WATERTOWN, Mass., May 03, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced that a late-breaking abstract featuring new preclinical data for its IRAK4 degrader KT-474 has been selected for presentation at the American Association of Immunologists' Virtual IMMUNOLOGY2021™ annual meeting, taking place from May 10 - 15, 2021.

    "We are excited to present new in vivo data demonstrating KT-474's broad and potent anti-inflammatory activity in both mechanistic and disease models of inflammation," said Nello Mainolfi, PhD, Co-Founder, President and CEO, Kymera Therapeutics. "These data have broadened the potential clinical impact of KT-474 in diseases driven by IL-33/36, as well as Th17-driven inflammation, and continue to demonstrate superiority both in vitro and in vivo over clinically active IRAK4 kinase inhibitors."

    Abstract Presentation Details:

    • Abstract: 1307
    • Title: IRAK4 degradation abrogates cytokine release and improves disease endpoints in murine models of IL-33/36- as well as Th17-driven inflammation
    • Session: Novel therapeutic approaches for the modulation of autoimmune and allergic diseases
    • Session Time: 9:00 a.m. - 10:30 a.m. ET on Thursday, May 13, 2021
    • Presenter: Cedric Hubeau, Ph.D.

    The late-breaking abstract is now available at https://www.immunology2021.org/. The poster presentation will be available for download on May 10, 2021 at https://www.kymeratx.com/scientific-resources/.

    About IRAK4 and KT-474

    IRAK4 is a key protein involved in inflammation mediated by the activation of toll-like receptors (TLRs) and IL-1 receptors (IL-1Rs). Aberrant activation of these pathways is the underlying cause of multiple immune-inflammatory conditions. KT-474, a potential first-in-class, orally bioavailable IRAK4 degrader, is being developed for the treatment of TLR/IL-1R-driven immune-inflammatory diseases with high unmet medical need, such as atopic dermatitis, hidradenitis suppurativa, rheumatoid arthritis, and potentially others. KT-474 is designed to block TLR/IL-1R-mediated inflammation more broadly compared to monoclonal antibodies targeting single cytokines, and to enable pathway inhibition that is superior to IRAK4 kinase inhibitors by abolishing both the kinase and scaffolding functions of IRAK4. In February 2021, Kymera initiated dosing of healthy volunteers in a first-in-human Phase 1 single and multiple ascending dose trial designed to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of orally administered KT-474 in adult healthy volunteers and patients with atopic dermatitis or hidradenitis suppurativa.

    Kymera is collaborating with Sanofi on the development of degrader candidates targeting IRAK4, including KT-474 (SAR444656), outside of the oncology and immuno-oncology fields.

    About Pegasus™

    Pegasus™ is Kymera Therapeutics' proprietary protein degradation platform, created by its team of experienced drug hunters to improve the effectiveness of targeted protein degradation and generate a pipeline of novel therapeutics for previously undruggable diseases. The platform consists of informatics-driven target identification, novel E3 ligases, proprietary ternary complex predictive modeling capabilities, and degradation tools.

    About Kymera Therapeutics

    Kymera Therapeutics is a clinical-stage biopharmaceutical company focused on advancing the field of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera's Pegasus™ targeted protein degradation platform harnesses the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera is accelerating drug discovery with an unmatched ability to target and degrade the most intractable of proteins, and advance new treatment options for patients. Kymera's initial programs are IRAK4, IRAKIMiD, and STAT3, which each address high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. For more information, visit www.kymeratx.com.

    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 regarding its: beliefs regarding the potential clinical impact of KT-474 and plans to present new data; strategy, business plans and objectives for the IRAK4, IRAKIMiD and STAT3 degrader programs; and plans and timelines for the clinical development of Kymera Therapeutics' product candidates, including the therapeutic potential and clinical benefits thereof. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" 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 those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our current preclinical studies and future clinical trials, strategy and future operations; the delay of any current preclinical studies or future clinical trials or the development of Kymera Therapeutics' drug candidates; the risk that the results of current preclinical studies may not be predictive of future results in connection with future clinical trials; Kymera Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company's planned interactions with regulatory authorities, including the resolution of the current partial clinical hold for KT-474; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in the Annual Report on Form 10-K for the period ended December 31, 2020, filed on March 11, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Kymera Therapeutics' subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kymera Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. Kymera Therapeutics 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.

    Investor Contact:

    Paul Cox

    VP, Investor Relations and Communications



    917-754-0207

    Media Contact:

    Lissette L. Steele

    Verge Scientific Communications for Kymera Therapeutics



    202-930-4762



    Primary Logo

    View Full Article Hide Full Article
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