Kymera Therapeutics (KYMR)
NASDAQ:KYMR
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Kymera Therapeutics
(NASDAQ:KYMR)
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Rating:50Neutral
Price Target:
$82.00
▼(-6.51% Downside)
Action:ReiteratedDate:04/30/26
The score is most constrained by weak financial performance (large losses and heavy cash burn) despite a supportive low-leverage balance sheet and improving revenue growth. Technicals are soft in the near term (below 20/50DMAs with weak RSI), while the latest earnings call provides a meaningful offset via strong cash runway and an active clinical pipeline with partner validation.
Positive Factors
Strong cash runway
A multi-year cash runway into 2029 funds planned Phase IIb programs and much of early Phase III planning, materially reducing near-term financing pressure. This durable liquidity allows focus on clinical execution, hiring experienced development leadership, and preserving strategic optionality.
Negative Factors
High cash burn
Sustained negative operating and free cash flow at this magnitude means the company must continue to allocate significant capital to R&D for years. Even with current cash, persistent burn elevates the risk of future dilution or additional financing if development timelines slip or milestone income underperforms.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash runway
A multi-year cash runway into 2029 funds planned Phase IIb programs and much of early Phase III planning, materially reducing near-term financing pressure. This durable liquidity allows focus on clinical execution, hiring experienced development leadership, and preserving strategic optionality.
Read all positive factors
Kymera Therapeutics (KYMR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.08B
Dividend YieldN/A
Average Volume (3M)590.36K
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue Growth-12.58%
EPS Growth-15.21%
CountryUS
Employees208
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.58
Shares Outstanding82,257,590
10 Day Avg. Volume478,426
30 Day Avg. Volume590,360
Financial Highlights & Ratios
PEG Ratio-0.89
Price to Book (P/B)4.16
Price to Sales (P/S)167.51
P/FCF Ratio-28.02
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue136.35
Enterprise Value/Gross Profit136.35
Enterprise Value/Ebitda-22.93
Forecast
1Y Price Target
$119.07Price Target Upside35.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)-3.42
Revenue Forecast (FY)$81.93M
Kymera Therapeutics Business Overview & Revenue Model
Company Description
Kymera 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 e...
How the Company Makes Money
Kymera Therapeutics does not primarily generate revenue from product sales because it is a clinical-stage company without publicly marketed therapies. Instead, its revenue has historically come mainly from collaborations and licensing/strategic pa...
Kymera Therapeutics Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call conveyed strong clinical momentum (notably KT-621 and KT-579), significant balance sheet strength (raised ~ $1B; $1.6B year-end cash) and multiple high-value collaborations, all supporting an ambitious development plan. Headwinds include elevated R&D spend (adjusted cash R&D +16% QoQ), limited current revenue, translational/measurement complexity for IRF5, and multi-year timelines to pivotal readouts and potential approvals. Overall, the positives—compelling early clinical data, IND/Phase I starts, partner validation and a multi-year cash runway—outweigh the noted operational and timing risks.Positive Updates
KT-621 (STAT6 Degrader) Strong Early Clinical Data
Phase I healthy volunteer and Phase Ib BroADen data showed robust STAT6 degradation, favorable safety/tolerability and meaningful reductions in Type 2 biomarkers (TARC, Eotaxin-3) and lung FeNO; clinical endpoints (EASI, Pruritus NRS, IGA, SCORAD, PROs) were in line with or numerically exceeded published dupilumab data at 4 weeks.
Negative Updates
High R&D Spend and Cash Burn
Q4 2025 R&D expense was $83.8 million (including $7.6 million noncash stock-based comp); adjusted cash R&D spend was $76.2 million, a 16% increase versus Q3 2025, indicating rising quarterly burn.
Read all updates
Q4-2025 Updates
Positive
Negative
KT-621 (STAT6 Degrader) Strong Early Clinical Data
Phase I healthy volunteer and Phase Ib BroADen data showed robust STAT6 degradation, favorable safety/tolerability and meaningful reductions in Type 2 biomarkers (TARC, Eotaxin-3) and lung FeNO; clinical endpoints (EASI, Pruritus NRS, IGA, SCORAD, PROs) were in line with or numerically exceeded published dupilumab data at 4 weeks.
Read all positive updates
Company Guidance
The company guided to an active 2026 development cadence: complete enrollment in the KT‑621 Phase IIb atopic dermatitis BROADEN2 trial (≈200 adults/adolescents; primary endpoint: % change in EASI at 16 weeks) this year with top‑line data by mid‑2027, and continue the BREADTH Phase IIb asthma trial (≈264 adults; primary endpoint: change in pre‑bronchodilator FEV1 at 12 weeks) after dosing the first patient in Feb 2026 and sharing data in late‑2027 — collectively generating data in roughly 500 patients next year and rolling AD patients into a 52‑week OLE; KT‑579 (IRF5 degrader) has initiated a SAD/MAD Phase I in healthy volunteers with data expected H2 2026 (target ~90% IRF5 knockdown and ~50–80% reductions in ex‑vivo TLR7/8/9 biomarkers) and a rapid move to lupus POC planned thereafter; partnered programs include Gilead (received $40M upfront; up to $750M milestones, including $45M on option) and Sanofi (KT‑485 HV Phase I expected this year; up to ~ $1B in milestones), while financials support these plans — 2025 fundraising near $1B, year‑end cash $1.6B (runway into 2029), Q4 collaboration revenue $2.9M, Q4 R&D $83.8M (noncash SBC $7.6M; adjusted cash R&D $76.2M, +16% vs prior quarter), and Q4 G&A $16.9M (noncash SBC $6.9M; adjusted cash G&A $10M, +1% vs prior quarter) — and the company expects to name at least one new program in H2 2026.Kymera Therapeutics Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
66
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.47M | 39.20M | 47.07M | 78.59M | 46.83M | 72.83M |
| Gross Profit | 51.47M | 39.20M | 47.07M | 78.59M | 46.83M | 72.83M |
| EBITDA | -306.05M | -303.06M | -216.24M | -143.20M | -151.66M | -97.64M |
| Net Income | -315.05M | -311.40M | -223.86M | -146.96M | -154.81M | -100.22M |
Balance Sheet | ||||||
| Total Assets | 1.67B | 1.74B | 978.03M | 575.76M | 603.13M | 605.90M |
| Cash, Cash Equivalents and Short-Term Investments | 650.93M | 848.28M | 488.74M | 374.88M | 407.17M | 442.42M |
| Total Debt | 80.47M | 82.25M | 87.76M | 84.67M | 17.34M | 17.96M |
| Total Liabilities | 129.38M | 163.15M | 142.42M | 180.79M | 112.98M | 146.27M |
| Stockholders Equity | 1.54B | 1.58B | 835.62M | 394.97M | 490.15M | 459.64M |
Cash Flow | ||||||
| Free Cash Flow | -244.00M | -234.34M | -207.34M | -137.31M | -155.92M | -130.54M |
| Operating Cash Flow | -242.58M | -232.89M | -194.50M | -102.83M | -153.09M | -128.95M |
| Investing Cash Flow | -712.52M | -521.06M | -404.08M | 139.89M | 20.52M | -99.83M |
| Financing Cash Flow | 1.01B | 990.71M | 608.85M | 4.19M | 153.00M | 250.28M |
Kymera Therapeutics Technical Analysis
Positive
87.71
Price Trends
83.81
Positive
79.68
Positive
65.18
Positive
Market Momentum
1.77
Negative
57.25
Neutral
67.85
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 87.71 is above the 20-day moving average (MA) of 83.54, above the 50-day MA of 83.81, and above the 200-day MA of 65.18, indicating a bullish trend. The MACD of 1.77 indicates Negative momentum. The RSI at 57.25 is Neutral, neither overbought nor oversold. The STOCH value of 67.85 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $6.39B | 453.36 | -17.76% | ― | -64.36% | -302.09% | |
56 Neutral | $5.25B | ― | 8.20% | ― | 42.46% | ― | |
54 Neutral | $3.95B | -7.39 | -43.96% | ― | 4905.26% | -34.49% | |
54 Neutral | $1.24B | -3.40 | -67.12% | ― | ― | -86.55% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $7.08B | -29.33 | -25.02% | ― | -12.58% | -15.21% |
* Healthcare Sector Average
KYMR
Kymera Therapeutics
86.08
56.01
186.27%
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MLTX
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-55.65%
Kymera Therapeutics Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Kymera Therapeutics Updates Bylaws on Federal Securities Litigation
Positive
Mar 27, 2026
On March 25, 2026, Kymera Therapeutics’ board amended its bylaws to make U.S. federal district courts the exclusive forum for complaints under the Securities Act of 1933 and the Securities Exchange Act of 1934, unless the company agrees othe...
Private Placements and FinancingRegulatory Filings and Compliance
Kymera Therapeutics Establishes New $500 Million ATM Program
Neutral
Feb 26, 2026
On February 26, 2026, Kymera Therapeutics entered into a new at-the-market equity offering program with TD Securities (USA) LLC, allowing the company to sell up to $500 million of common stock from time to time on Nasdaq at its discretion, with TD...
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.