KYMR · Kymera Therapeutics, Inc.

Kymera Therapeutics reported first quarter 2026 financial results showing collaboration revenues of $34.4 million, up from $22.1 million in the prior year quarter, entirely from the Gilead Sciences collaboration, reflecting progress in partnered programs. Research and development expenses rose to $98.2 million from $80.3 million, driven by investments in the STAT6 program (KT-621), platform, and discovery efforts, plus organizational growth; stock-based compensation in R&D was $8.6 million. General and administrative expenses increased to $20.4 million from $16.3 million due to higher legal and professional fees, personnel, and public company costs, with stock-based compensation at $7.4 million. This resulted in a net loss of $69.2 million, compared to $65.6 million last year. Balance sheet remains strong with $1.55 billion in cash, cash equivalents, and investments as of March 31, 2026, supporting operations into 2029 past key clinical milestones. CEO Nello Mainolfi emphasized disciplined execution on KT-621 (STAT6 degrader in Phase 2b for AD and asthma, with Fast Track in asthma) and KT-579 (IRF5 degrader in Phase 1), plus Gilead's $45 million milestone for KT-200 option exercise and Sanofi's KT-485 progress. No forward guidance on financials was provided, but pipeline catalysts include KT-579 data in 2H26 and KT-621 readouts in 2027.