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Kymera Therapeutics, Inc. (KYMR)
:KYMR
US Market
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Kymera Therapeutics (KYMR) AI Stock Analysis

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KYMR

Kymera Therapeutics

(NASDAQ:KYMR)

Rating:57Neutral
Price Target:
$45.00
▲(6.64% Upside)
Kymera Therapeutics' overall stock score reflects a challenging financial performance with persistent losses and valuation concerns. However, the company's strong strategic partnerships and promising clinical advancements provide a positive outlook. Technical indicators suggest neutral momentum, while the earnings call and corporate events highlight significant growth potential.
Positive Factors
Competitive Advantage
Kymera Therapeutics remains significantly ahead of competitor STAT6 programs and owns full rights to the asset, strengthening its competitive position.
Partnership Opportunities
Kymera's ability to deliver highly specific differentiated degraders provides opportunities for non-dilutive capital in the form of partnerships with companies like Sanofi and Gilead.
Pipeline Success
Kymera is the first to reach the milestone with a STAT6 degrader, leading the race in targeting the Th2 inflammatory pathway.
Negative Factors
Clinical Efficacy Concerns
The robust Th2 biomarker suppression in BroADen may not necessarily translate into clinically meaningful EASI 75 and pruritus NRS improvements on Day 28.
Investor Confusion
The rationale for the second dose in the Ph 1b is driving some investor confusion.
Stock Volatility
The addition of a second dose in the Phase 1b study drove early weakness in shares, though it's unclear if the second dose is higher or lower.

Kymera Therapeutics (KYMR) vs. SPDR S&P 500 ETF (SPY)

Kymera Therapeutics Business Overview & Revenue Model

Company DescriptionKymera Therapeutics, Inc., a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
How the Company Makes MoneyKymera Therapeutics makes money primarily through the development and potential commercialization of its drug candidates, leveraging its proprietary targeted protein degradation platform. Key revenue streams include research and development collaborations, milestone payments, and potential royalties from partnerships with larger pharmaceutical companies. These partnerships, such as those with Sanofi and Vertex Pharmaceuticals, provide funding and resources needed to advance Kymera's drug candidates through clinical trials. Additionally, as drug candidates progress and potentially receive regulatory approval, the company stands to earn revenue from product sales and licensing agreements.

Kymera Therapeutics Earnings Call Summary

Earnings Call Date:Aug 11, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant advancements in Kymera's clinical programs and strategic collaborations, bolstering its financial position and setting the stage for future growth. Despite some uncertainties in dose selection and program transitions, the positive momentum and strong financial backing indicate a promising outlook.
Q2-2025 Updates
Positive Updates
Positive Results from KT-621 Trial
The KT-621 trial in healthy volunteers exceeded expectations, surpassing the target product profile with more than 95% degradation in both skin and blood at low doses.
Strong Financial Position
Kymera raised $288 million in a follow-on offering, extending its cash runway into the second half of 2028, with a current cash position of $1 billion.
Strategic Collaborations
Kymera announced partnerships with Gilead for a CDK2 degrader and Sanofi for the IRAK4 program, potentially unlocking significant milestone payments and expanding the company's reach.
Phase IIb KT-621 Trials on Track
The company has selected doses for the Phase IIb studies in AD and asthma, with the AD trial set to begin in the fourth quarter of 2025.
Advancement of IRF5 Program
The oral IRF5 program is progressing through IND-enabling studies with plans to enter Phase I testing in early 2026.
Negative Updates
Uncertainty in STAT6 Dose Selection
Questions remain about the dose selection for KT-621, with ongoing adjustments to ensure optimal translation from healthy volunteers to patients.
Challenges with KT-474 Transition
Sanofi's decision to not advance KT-474 due to better profiles observed in KT-485 indicates challenges in the development of the initial IRAK4 degrader.
Company Guidance
During Kymera Therapeutics' second quarter 2025 results call, the company provided guidance on several key metrics and future plans. They reported a cash balance of approximately $1 billion as of the end of July, extending their cash runway into the second half of 2028. This financial position is bolstered by a $288 million follow-on offering and an upfront payment from a collaboration with Gilead. The company achieved $11.5 million in revenue for the quarter, attributed to their collaboration with Sanofi. Research and development expenses were $78.4 million, with $8 million as non-cash stock-based compensation, while general and administrative expenses stood at $17.6 million, including $7.4 million in non-cash stock-based compensation. Kymera announced significant progress in their STAT6 and IRF5 programs, with plans to initiate Phase IIb studies for KT-621 in atopic dermatitis and asthma later this year and early next, respectively. They also highlighted two strategic partnerships: one with Gilead for a molecular glue degrader targeting CDK2 and another with Sanofi focusing on the IRAK4 program, emphasizing the potential to realize significant milestones from these collaborations.

Kymera Therapeutics Financial Statement Overview

Summary
Kymera Therapeutics faces financial challenges typical of biotechnology firms, with negative earnings and cash flow due to heavy R&D investments. While the balance sheet shows a strong equity position, ongoing losses and negative cash flows are concerning.
Income Statement
45
Neutral
Kymera Therapeutics shows a declining revenue growth with a drop from the previous periods, and consistent negative net profit margins indicating an ongoing unprofitable state. The gross profit margin is solid as all revenue translates directly to gross profit due to likely no cost of goods sold, but the EBIT and EBITDA margins are significantly negative, reflecting high operational expenses that overshadow revenues.
Balance Sheet
55
Neutral
The company maintains a robust equity position with a strong equity ratio, but the debt-to-equity ratio suggests manageable leverage. However, the return on equity remains negative due to persistent losses, which raises concerns about profitability. The balance sheet shows a solid cash position, but the high liabilities relative to equity warrant caution.
Cash Flow
40
Negative
Kymera Therapeutics faces negative free cash flow, which has deteriorated further, indicating pressure on cash generation. The operating cash flow is significantly negative, raising concerns about the company's ability to fund operations without external financing. The free cash flow to net income ratio is unreliable due to negative values, highlighting cash management challenges.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue44.71M47.07M78.59M46.83M72.83M34.03M
Gross Profit42.63M47.07M78.59M43.85M70.44M-28.07M
EBITDA-277.16M-216.24M-143.20M-151.66M-97.64M-43.72M
Net Income-275.43M-223.86M-146.96M-151.83M-98.00M-43.95M
Balance Sheet
Total Assets1.13B978.03M575.76M603.13M605.90M487.18M
Cash, Cash Equivalents and Short-Term Investments665.45M488.74M374.88M559.49M567.61M458.73M
Total Debt85.71M87.76M84.67M17.34M17.96M17.99M
Total Liabilities159.59M142.42M180.79M112.98M146.27M203.29M
Stockholders Equity971.48M835.62M394.97M490.15M459.64M283.89M
Cash Flow
Free Cash Flow-252.92M-207.34M-137.31M-155.92M-130.54M79.03M
Operating Cash Flow-251.01M-194.50M-102.83M-153.09M-128.95M88.13M
Investing Cash Flow19.52M-404.08M139.89M20.52M-99.83M-422.59M
Financing Cash Flow499.67M608.85M4.19M153.00M250.28M289.26M

Kymera Therapeutics Technical Analysis

Technical Analysis Sentiment
Positive
Last Price42.20
Price Trends
50DMA
43.51
Negative
100DMA
39.44
Positive
200DMA
38.53
Positive
Market Momentum
MACD
-0.26
Negative
RSI
49.03
Neutral
STOCH
47.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KYMR, the sentiment is Positive. The current price of 42.2 is above the 20-day moving average (MA) of 41.81, below the 50-day MA of 43.51, and above the 200-day MA of 38.53, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 49.03 is Neutral, neither overbought nor oversold. The STOCH value of 47.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KYMR.

Kymera Therapeutics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$2.13B12.1027.58%17.74%59.96%
60
Neutral
$2.28B3.6864.05%30.57%
57
Neutral
$3.02B-33.26%-49.51%-44.09%
56
Neutral
$1.74B18.68%45.85%76.36%
51
Neutral
$7.91B-0.36-41.71%2.23%23.45%-1.86%
50
Neutral
$1.65B-41.94%-82.90%-155.64%
43
Neutral
$2.09B-26.36%-22.19%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
KYMR
Kymera Therapeutics
42.20
-3.20
-7.05%
BCRX
BioCryst
8.27
0.29
3.63%
AGIO
Agios Pharma
36.13
-7.15
-16.52%
BEAM
Beam Therapeutics
18.54
-4.77
-20.46%
IRON
Disc Medicine
60.19
9.84
19.54%
HRMY
Harmony Biosciences Holdings
36.30
0.71
1.99%

Kymera Therapeutics Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Kymera Therapeutics Announces New Chief Legal Officer
Neutral
Sep 3, 2025

On September 3, 2025, Kymera Therapeutics announced the retirement of Ellen Chiniara as Chief Legal Officer, with Brian R. Adams succeeding her. This leadership change is part of Kymera’s strategic efforts to advance its novel programs in the field of immunology, aiming to redefine treatment possibilities with groundbreaking oral medicines.

Private Placements and FinancingBusiness Operations and Strategy
Kymera Therapeutics Announces Public Offering to Raise Funds
Neutral
Jun 27, 2025

On June 26, 2025, Kymera Therapeutics announced an underwritten public offering of its common stock and pre-funded warrants, expected to raise approximately $237.3 million, with the potential to increase to $272.7 million if underwriters exercise their options fully. The proceeds will be used to advance Kymera’s clinical and preclinical degrader programs and for general corporate purposes. The offering is anticipated to close on June 30, 2025, subject to customary conditions, and is part of Kymera’s strategy to fund operations into mid-2028.

Executive/Board ChangesShareholder Meetings
Kymera Therapeutics Holds Annual Shareholder Meeting
Neutral
Jun 27, 2025

On June 25, 2025, Kymera Therapeutics held its Annual Meeting of Shareholders, where three key proposals were voted on. Shareholders elected Jeffrey Albers and Felix J. Baker as Class II directors for a three-year term, approved the compensation of named executive officers on a non-binding basis, and ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

Product-Related AnnouncementsBusiness Operations and Strategy
Kymera Therapeutics Partners with Gilead for Oncology Treatment
Positive
Jun 25, 2025

On June 25, 2025, Kymera Therapeutics announced an exclusive option and license agreement with Gilead Sciences to develop novel oral molecular glue CDK2 degraders for oncology treatment, including breast cancer. The agreement could bring Kymera up to $750 million in payments and royalties, with Kymera leading research activities. This collaboration aims to advance cancer treatment by selectively targeting and degrading disease-driving proteins, potentially improving care for patients with high unmet medical needs.

Product-Related AnnouncementsBusiness Operations and Strategy
Kymera Therapeutics Advances KT-485 in Sanofi Collaboration
Positive
Jun 25, 2025

On June 25, 2025, Kymera Therapeutics announced an update on its collaboration with Sanofi, highlighting the advancement of KT-485, an oral IRAK4 degrader, into clinical studies for immuno-inflammatory diseases. This decision, which includes a $20 million milestone achievement for Kymera, marks a strategic shift from KT-474 to KT-485, reflecting its superior preclinical profile and potential to transform immunology treatments. The collaboration could yield up to $975 million in clinical, regulatory, and commercial milestones, positioning Kymera strongly in the biopharmaceutical industry.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 04, 2025