Kymera Therapeutics (KYMR) Wells Fargo 21st Annual Healthcare Conference summary

Program overview and clinical progress

• Focus on targeted protein degradation to develop oral therapies for diseases with high unmet need, particularly in Type 2 inflammation and immunology.

• STAT6 identified as a key target, with KT-621 showing robust preclinical and early clinical efficacy in atopic dermatitis and asthma.

• Two global Phase 2b studies underway: BROADEN2 for atopic dermatitis and BREATH for type 2 asthma, both dose-ranging and placebo-controlled.

• Accelerated enrollment in BROADEN2 due to strong demand for oral therapies and effective site management.

• Phase 2b data readout for atopic dermatitis expected by end of 2026, with plans to select optimal Phase III dose.

Trial design, quality controls, and efficacy expectations

• Enrollment criteria and site oversight implemented to ensure patient quality and mitigate placebo response.

• Placebo rates in AD trials have increased due to lower baseline severity and competitive landscape, but remain manageable.

• Study designed to select the most active, lowest effective dose for Phase III, not to demonstrate a classic dose response.

• Efficacy expectations are to be in the range of dupilumab, but strong activity and safety are prioritized over matching injectables exactly.

• Safety profile to date is very good, with ongoing efforts to amass long-term safety data through open-label extensions.

Regulatory and development strategy

• Phase III in atopic dermatitis targeted to start by mid-next year, pending regulatory interactions.

• Strategy includes expanding into pediatric populations and developing appropriate formulations.

• Success in AD expected to inform and accelerate development in asthma, CRSwNP, EoE, and potentially COPD.

• Parallel development across indications planned, with dose selection in AD likely informing other programs.

• Dedicated Phase IIb in asthma (BREATH) uses efficient design with delta FEV1 as primary endpoint; readout expected in 2027.