Kymera Therapeutics (KYMR) investor relations material

Executive summary

• Marked the 10th anniversary, emphasizing a transition to a new chapter focused on delivering transformative medicines globally and advancing six first-in-class molecules into the clinic over the past five years.

• Focused on commercializing oral medicines to improve access and outcomes in immunology, expanding into new therapeutic areas, and building a robust pipeline targeting large patient populations in AD, asthma, COPD, lupus, and cancer.

• Advanced KT-621 (STAT6 degrader) into parallel Phase 2b trials for atopic dermatitis and asthma, with data expected by mid-2027 and late 2027, respectively; KT-579 (IRF5 degrader) Phase 1 trial in healthy volunteers ongoing, with data expected in 2H26.

• Gilead exercised its option to license KT-200, resulting in a $45 million milestone payment and IND planned for 2027; partnerships with Sanofi (KT-485) and Gilead (KT-200) advancing toward clinical milestones.

• Cash position of $1.55 billion as of March 31, 2026, providing runway into 2029.

Financial highlights

• Q1 2026 collaboration revenue was $34.4 million, all from Gilead, up from $22.1 million in Q1 2025.

• Received a $40 million upfront payment from Gilead, fully recognized; a $45 million milestone from Gilead to be recognized in Q2 2026.

• Total operating expenses increased to $118.5 million from $96.5 million year-over-year, driven by higher R&D ($98.2 million) and G&A ($20.4 million) costs.

• Net loss was $69.2 million for Q1 2026, compared to $65.6 million in Q1 2025; net loss per share was $0.71, with 97.5 million shares outstanding.

• Cash, cash equivalents, and marketable securities totaled $1.55 billion as of March 31, 2026.

Outlook and guidance

• Cash runway expected to extend into 2029, supporting advancement of KT-621, KT-579, and partnered programs through multiple clinical milestones.

• KT-621 AD phase IIb enrollment to complete by year-end 2026, with data expected mid-2027; asthma study readout expected by end of 2027.

• KT-579 Phase 1 healthy volunteer data expected in H2 2026, with a lupus proof-of-concept study to follow.

• Gilead to advance KT-200 into the clinic in 2027; Sanofi expected to advance KT-485 into phase I in 2026.

• Continued focus on progressing STAT6, IRF5, and IRAK4 programs, with new clinical candidates expected annually.