Kymera Therapeutics(KYMR) - 2025 Q1 - Quarterly Results

Financial Performance - Net loss for Q1 2025 was $65.6 million, compared to a net loss of$48.6 million in Q1 2024[13]. - The net loss attributable to common stockholders for Q1 2025 was $65.6 million, compared to a net loss of$48.6 million in Q1 2024, indicating a deterioration of 35%[21]. - The net loss per share attributable to common stockholders was $0.82 in Q1 2025, compared to$0.69 in Q1 2024[21]. - Total operating expenses in Q1 2025 were $96.5 million, up from$68.1 million in Q1 2024, reflecting an increase of 42%[21]. - Research and development expenses increased to $80.3 million in Q1 2025 from$48.8 million in Q1 2024, driven by investments in STAT6 and TYK2 programs[11]. - General and administrative expenses rose to $16.3 million in Q1 2025 compared to$14.4 million in Q1 2024, reflecting increased legal and professional service fees[12]. - Other income for Q1 2025 was $8.8 million, slightly down from$9.3 million in Q1 2024[21]. Collaboration and Revenue - Collaboration revenues for Q1 2025 were $22.1 million, up from$10.3 million in Q1 2024, primarily due to a $20 million milestone from the Sanofi collaboration[10]. - A milestone payment of$20 million was recognized in Q1 2025 as part of the collaboration with Sanofi[10]. - Collaboration revenue for Q1 2025 was $22.1 million, a significant increase from$10.3 million in Q1 2024, representing a growth of 115%[21]. Assets and Liabilities - Total assets decreased to $918.3 million as of March 31, 2025, down from$978.0 million as of December 31, 2024, a decline of 6.1%[19]. - Total liabilities decreased to $132.1 million as of March 31, 2025, from$142.4 million as of December 31, 2024, a reduction of 7.2%[19]. - Total stockholders' equity decreased to $786.2 million as of March 31, 2025, down from$835.6 million as of December 31, 2024, a decline of 5.9%[19]. Clinical Development - The KT-621 Phase 1 healthy volunteer trial data will be reported in June 2025, with the BroADen Phase 1b trial data expected in Q4 2025[1]. - The company plans to initiate two Phase 2b studies for KT-621 in AD and asthma patients in late 2025 and early 2026, respectively[5]. - KT-579, a new oral IRF5 degrader program, is expected to enter Phase 1 clinical trials in early 2026[1]. - The strategic decision was made not to advance KT-295 into clinical development, allowing a focus on the STAT6 and IRF5 programs[4]. Stock Information - The weighted average common stocks outstanding increased to 80,146,531 in Q1 2025 from 70,770,320 in Q1 2024[21].