Kymera Therapeutics, Inc.
- Open
- 118.64
- Day high
- 119.87
- Day low
- 116.08
- Prev close
- 118.15
- Volume
- 657K
- Mkt cap
- $9.9B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.5
- P/S
- 94.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$394.2M over the last 3 months (0 open-market buys, 158 sales)
- 🏛Institutions accumulating (13F)
Kymera Therapeutics, Inc. (KYMR) is a Healthcare company listed on NASDAQ. The stock is up 188% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 158 sales (SEC Form 4).
Kymera Therapeutics, Inc. (KYMR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KYMR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $-0.71 | $-0.62 | +13.0% | $65M | +98.3% |
| Apr 30, 2026 | $-0.89 | $-0.71 | +20.2% | $34M | +315.7% |
| Feb 26, 2026 | $-0.77 | $-1.03 | -33.9% | $3M | -80.7% |
| Nov 4, 2025 | $-0.71 | $-0.90 | -26.8% | $3M | -80.9% |
| May 9, 2025 | $-0.92 | $-0.82 | +10.9% | $22M | +78.5% |
| Feb 27, 2025 | $-0.76 | $-0.88 | -15.8% | $7M | -55.7% |
| Oct 31, 2024 | $-0.83 | $-0.82 | +1.2% | $4M | -75.4% |
| May 2, 2024 | $-0.73 | $-0.69 | +5.5% | $10M | -25.1% |
| Feb 22, 2024 | $-0.44 | $-0.25 | +43.2% | $48M | +14.1% |
| Nov 2, 2023 | $-0.73 | $-0.90 | -23.3% | $5M | -70.4% |
| Aug 3, 2023 | $-0.70 | $-0.67 | +4.3% | $17M | +17.4% |
| May 4, 2023 | $-0.69 | $-0.70 | -1.4% | $9M | -33.1% |
KYMR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 27, 2026 | Rooney Terenceofficer: Chief Medical Officer | Grant | 76,000 | $110.05 |
| Jul 27, 2026 | Rooney Terenceofficer: Chief Medical Officer | Grant | 38,000 | — |
| Jul 7, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Option | 45,559 | $2.08 |
| Jul 7, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Option | 50,000 | $2.08 |
| Jul 7, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Sell | 50,000 | $119.00 |
| Jul 7, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Option | 4,441 | $2.08 |
| Jul 2, 2026 | Booth Brucedirector | Sell | 5,549 | $105.78 |
| Jul 2, 2026 | Jacobs Bruce N.officer: Chief Financial Officer | Sell | 7,971 | $115.82 |
| Jul 2, 2026 | Booth Brucedirector | Sell | 130 | $111.20 |
| Jul 2, 2026 | Booth Brucedirector | Sell | 2,133 | $106.63 |
| Jul 2, 2026 | Jacobs Bruce N.officer: Chief Financial Officer | Sell | 1,700 | $111.57 |
| Jul 2, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Sell | 1,883 | $112.80 |
| Jul 2, 2026 | Mainolfi Nellodirector, officer: Chief Executive Officer | Sell | 24,105 | $114.96 |
| Jul 2, 2026 | Jacobs Bruce N.officer: Chief Financial Officer | Sell | 4,110 | $114.19 |
| Jul 2, 2026 | Jacobs Bruce N.officer: Chief Financial Officer | Sell | 1,100 | $112.79 |
Source: KYMR SEC Form 4 filings, latest Jul 27, 2026. For informational purposes only — not investment advice.
See the full KYMR insider & 13F page →Kymera Therapeutics, Inc. company profile
Overview
Kymera Therapeutics, Inc. (NASDAQ:KYMR) is a biopharmaceutical company founded in 2015 and headquartered in Watertown, Massachusetts. The company went public in August 2020 and has emerged as a pioneer in the field of targeted protein degradation, a novel therapeutic approach that harnesses the body's natural cellular machinery to eliminate disease-causing proteins. Since its inception, Kymera has built a robust pipeline of small molecule protein degraders targeting both oncology and immunology indications, with multiple programs advancing through clinical trials and a strategic partnership with Sanofi for its lead IRAK4 program.
Business
Kymera operates in the biotechnology sector, specifically focusing on targeted protein degradation - a revolutionary approach to drug development that represents a paradigm shift from traditional pharmaceutical methods. Unlike conventional drugs that typically inhibit or block protein function, Kymera's approach actually eliminates problematic proteins from cells entirely by hijacking the body's natural protein disposal system called the ubiquitin-proteasome system. The company's core technology platform creates small molecule drugs called protein degraders or PROTACs (Proteolysis Targeting Chimeras). These molecules work like molecular glue, bringing together a disease-causing protein with the cell's protein degradation machinery, effectively tagging the harmful protein for destruction. This approach can potentially target proteins that were previously considered "undruggable" because they lack the binding pockets that traditional drugs require. Kymera's pipeline is divided into two main therapeutic areas: 1. Immunology Programs (Primary Focus): The company has strategically pivoted to prioritize immunology, representing approximately 70-80% of their current development efforts. Key programs include STAT6 degraders for allergic diseases like atopic dermatitis and asthma, TYK2 degraders for autoimmune conditions, and IRAK4 degraders for inflammatory diseases. The IRAK4 program is partnered with Sanofi and is the most advanced, currently in Phase II trials. 2. Oncology Programs: Representing the remaining 20-30% of development focus, these include STAT3 degraders for blood cancers and solid tumors, and MDM2 degraders for various cancer types. The company has indicated it will only advance these oncology programs beyond Phase I with a strategic partner. The company's approach targets proteins involved in key cellular signaling pathways that drive disease, including transcription factors like STAT3 and STAT6, kinases like IRAK4 and TYK2, and regulatory proteins like MDM2. These targets are often difficult or impossible to address with traditional small molecule inhibitors or biologics.
Revenue model
Kymera generates revenue primarily through strategic partnerships and collaborations, with product sales representing a future revenue stream as programs advance toward commercialization. Currently, the company's revenue comes entirely from its collaboration with Sanofi, which provides milestone payments, research funding, and will eventually include royalties on commercialized products. The Sanofi partnership, established for the IRAK4 program, represents Kymera's primary current revenue source. Under this agreement, Sanofi provides development funding and milestone payments as the program advances through clinical trials. Sanofi has the option to advance the program to Phase III, while Kymera retains co-development rights. Revenue from this partnership has been variable, ranging from $3.7 million to $25.7 million per quarter depending on milestone achievements and research activities. The company's long-term business model anticipates multiple revenue streams including product sales from commercialized drugs, licensing fees and royalties from additional partnerships, and milestone payments from collaborative agreements. For programs Kymera develops independently, such as their STAT6 and TYK2 degraders, the company would retain full commercial rights and receive 100% of product revenues. Several factors could significantly impact Kymera's margins and profitability. Positive factors include the company's focus on oral small molecules, which typically have lower manufacturing costs than biologics, and their targeting of large market opportunities in immunology where successful drugs can command premium pricing. The protein degradation approach may also allow for lower dosing requirements compared to traditional inhibitors, potentially reducing manufacturing costs. Negative factors include the inherent risks of drug development, particularly for novel mechanisms of action, competitive pressure from established biologics in immunology markets, and the substantial clinical development costs required to advance multiple programs simultaneously. The company's current high cash burn rate of approximately $200 million annually reflects these development costs and will need to be balanced against partnership revenues and eventual product sales to achieve profitability.
Competitive moat
Kymera's competitive moat is built around its proprietary protein degradation platform and first-mover advantage in targeting specific proteins through this novel mechanism. The company has developed extensive expertise in designing PROTACs and understanding the complex biology of targeted protein degradation, which requires sophisticated knowledge of protein structure, cellular degradation pathways, and medicinal chemistry. This technical expertise represents a significant barrier to entry, as evidenced by management's comments that competitors have found it "difficult to compete with Kymera's current progress and molecule quality." The strength of this moat varies by program. For IRAK4 degradation, Kymera appears to have a strong first-mover advantage with their Sanofi-partnered program already in Phase II trials, while competitors are still in preclinical stages. Similarly, for STAT6 degradation, the company claims to be first-in-class and has expressed confidence that their years of development work would be difficult for competitors to replicate quickly. However, the moat faces several potential challenges. Large pharmaceutical companies with substantial resources could potentially develop competing protein degradation platforms, though this would require significant time and investment. More immediately, established biologics in immunology markets (such as Dupixent for atopic dermatitis) represent formidable competition, as these drugs have proven efficacy and established market positions. The company's strategy of developing oral alternatives to biologics could provide differentiation, but this advantage depends on demonstrating comparable or superior efficacy with the convenience of oral dosing. The regulatory pathway for novel protein degradation mechanisms also presents both opportunity and risk. While being first-to-market with a new mechanism provides advantages, it also means navigating uncharted regulatory territory without established precedents. Additionally, the complexity of protein degradation biology means that unexpected safety or efficacy issues could emerge during clinical development, potentially eroding competitive advantages. Overall, Kymera's moat appears moderately strong in the near term due to their technical lead and platform capabilities, but the durability of this advantage will depend on successful clinical execution and the ability to maintain their development pace ahead of well-funded competitors.
Risks & safety
Kymera presents a moderate margin of safety profile typical of a clinical-stage biotech company with substantial cash reserves but ongoing losses. • Liquidity Position: Strong with $851 million in cash and short-term investments as of Q1 2025, providing runway into mid-2028 based on current burn rates. Current ratio of 8.5x indicates excellent short-term liquidity. • Cash Burn and Solvency: Annual cash burn of approximately $200 million with free cash flow of -$207 million in 2024. No significant debt burden with debt-to-equity ratio of only 11%. The extended cash runway provides adequate time for multiple clinical readouts and potential partnership opportunities. • Valuation Metrics: Trading at negative P/E ratios due to losses, but Graham net-net ratio of 4.6x suggests the stock trades below net current asset value. Price-to-book ratio of 3.6x is reasonable for a biotech with substantial cash and IP assets. • Revenue Dependency: High dependence on Sanofi partnership for current revenue, creating concentration risk. However, the partnership appears stable with ongoing Phase II expansion. • Clinical Risk: Multiple programs in early to mid-stage trials with inherent binary outcomes. The diversified pipeline across immunology and oncology provides some risk mitigation, though immunology focus increases concentration in one therapeutic area.
Recent development
Over the past few years, Kymera has executed a significant strategic pivot toward immunology, shifting from a balanced oncology-immunology focus to prioritizing immunology programs that represent approximately 70-80% of their development efforts. This pivot reflects the company's assessment that immunology offers larger market opportunities and potentially clearer regulatory pathways for their protein degradation approach. The company has advanced their IRAK4 program (KT-474) through a successful partnership with Sanofi, with the program now in Phase II trials for hidradenitis suppurativa and atopic dermatitis. Sanofi has expanded these trials to accelerate the path toward Phase III registration, demonstrating strong partner confidence in the program's potential. Kymera has aggressively expanded their immunology pipeline with two major new programs. Their STAT6 degrader (KT-621) has advanced into Phase I trials targeting allergic diseases including atopic dermatitis and asthma, with the company positioning this as a potential oral alternative to biologics like Dupixent. The program aims to achieve "dupilumab-like effects" with the convenience of daily oral dosing. Additionally, their TYK2 degrader program has advanced with a new development candidate (KT-295) entering Phase I trials, targeting autoimmune conditions including inflammatory bowel disease and psoriasis. The company has also unveiled a new IRAF5 program (KT-579) targeting rheumatic and autoimmune diseases, with IND filing expected by year-end 2025. This represents their continued expansion into novel immunology targets that are difficult to address with traditional approaches. In oncology, Kymera has made the strategic decision to advance their STAT3 and MDM2 programs only with partners, reflecting resource prioritization toward immunology. They discontinued their TIC2 degrader program (KT-295) to focus resources on higher-potential opportunities. The company has set an ambitious goal of bringing at least one new IND per year and targeting 10 molecules in clinical trials by 2026.
KYMR company profile · for informational purposes only — not investment advice.
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