Kymera Therapeutics (KYMR) investor relations material

Executive summary

• Accelerated enrollment in KT-621 Phase 2b AD trial, completed six months ahead of schedule, with top-line data expected by year-end 2026 and Phase 3 to start mid-2027.

• KT-579 Phase 1 healthy volunteer trial ongoing, with data expected in Q4 2026 and a Phase 1b lupus trial to follow.

• KT-485 (IRAK4 degrader, partnered with Sanofi) entered Phase 1, triggering a $20M milestone payment; KT-200 (CDK2 molecular glue, partnered with Gilead) option exercised, resulting in a $45M payment.

• Strategic partnerships with Sanofi and Gilead support pipeline expansion and future IND filings.

• Leadership transitions include Felix Baker as Chairman, Terence Rooney as CMO, and new hires in development operations.

Financial highlights

• Q2 2026 collaboration revenue was $65M, including $45M from Gilead and $20M from Sanofi milestones; H1 2026 revenue was $99.4M, up from $33.6M in H1 2025.

• R&D expenses were $119.5M in Q2 2026 (including $10.4M stock-based comp); H1 2026 R&D was $217.6M, up from $158.6M.

• G&A expenses were $21.1M in Q2 2026 (including $8.6M stock-based comp); adjusted cash G&A: $12.5M.

• Net loss for Q2 2026 was $61.2M, improved from $76.6M in Q2 2025; net loss per share was $0.62.

• Cash, equivalents, and investments totaled ~$1.5B as of June 30, 2026, providing runway into 2029.

Outlook and guidance

• KT-621 Phase 2b AD data expected by year-end 2026; Phase 3 AD trial to start by mid-2027.

• KT-579 Phase 1 data in Q4 2026; Phase 1b lupus trial to follow.

• KT-621 BREADTH Phase 2b asthma trial data expected late 2027; open-label extension study underway.

• Gilead to support IND filing for KT-200 in 2027.

• Cash runway supports completion of key trials and initiation of Phase 3 studies.