0001193125-26-193967
SEC filingQ1 revenue surged 55.5% to $34.4M from Gilead collaboration momentum, outpacing prior-year $22.1M, while operating losses widened 13.1% to -$84.2M as clinical development costs escalated, narrowing net loss to -$69.2M and improving EPS 13.4% to -$0.71.
Kymera Therapeutics reported Q1 FY2026 revenue of $34.4 million, a 55.5% increase from $22.1 million in the prior-year quarter. This growth stems from collaboration agreements, notably with Gilead, replacing prior recognition patterns from Sanofi and highlighting the company's progress in monetizing its targeted protein degradation platform through partnerships.
Operating income stood at -$84.2 million, representing a 13.1% widening from -$74.4 million year-over-year. Product candidates in later stages of clinical development generally incur higher costs due to the increased size and duration of trials, driving elevated research and development expenses. Management notes that these expenses are expected to rise substantially with planned clinical activities, reflecting investment in advancing degrader therapies toward potential commercialization.
Net income was -$69.2 million, a 5.6% improvement from -$65.6 million, with diluted EPS at -$0.71 versus -$0.82. The EPS enhancement arises from revenue gains partially mitigating expense growth and share count dynamics. Operating margin was -244.9%, underscoring the pre-revenue biotech model's focus on R&D over near-term profitability, consistent with the company's history of significant operating losses since inception without product sales revenue.