Kymera Therapeutics (KYMR) TD Cowen 45th Annual Healthcare Conference summary

Clinical program updates

• KT-621, a first-in-class STAT6 degrader, aims to deliver oral biologics-like activity for immunology indications, with preclinical data showing Dupilumab-like efficacy and strong safety profile.

• Full SAD/MAD healthy volunteer data for KT-621 will be disclosed in June, with dosing completed by March and extensive biomarker analysis following.

• Phase i-B trial in moderate to severe atopic dermatitis (AD) patients will start in Q2, focusing on biomarker impact and clinical endpoints, using an optimal dose from phase i-A.

• Phase ii-B studies for AD and asthma are planned for Q4 this year and Q1 next year, respectively, to determine registrational doses for multiple indications.

• A novel program targeting an undrugged transcription factor will be disclosed in early May, currently in IND-enabling studies.

Dose selection and biomarker strategy

• Dose selection for phase i-B and ii-B is based on achieving 90%+ STAT6 degradation in blood and skin, prioritizing degradation over other biomarkers.

• Phase i-B is a single-arm, 28-day study in AD patients, powered to show Dupilumab-like biomarker effects in blood and skin, with clinical endpoints included.

• Phase ii-B studies will be placebo-controlled, dose-ranging, and inform phase iii dosing across multiple indications, aiming for a once-daily oral regimen.

• Preclinical data suggest rapid and sustained target degradation with KT-621, potentially offering faster kinetics than antibody therapies.

• Disclosure of trial initiations and data readouts will be communicated to the investment community as milestones are reached.

TYK2 and IRAK4 franchise

• IND filing and phase i initiation for TYK2 degrader are on track for Q2, with phase i readout expected in Q4, aiming to demonstrate loss-of-function phenotype and differentiated pharmacology.

• TYK2 degrader is designed to achieve >95% degradation and full pathway blockade, potentially surpassing small molecule inhibitors.

• Proof-of-concept placebo-controlled study in psoriasis is planned to demonstrate biologics-like activity.

• IRAK4 franchise with Sanofi remains on track for data in hidradenitis suppurativa (HS) and AD in 2026.