Kymera Therapeutics Announces Third Quarter 2025 Financial Results and Provides a Business Update

Core Insights - Kymera Therapeutics has made significant progress in its clinical trials, particularly with KT-621, which is the first STAT6-directed agent for atopic dermatitis (AD) patients, with data expected in December 2025 [1][2][3] - The company is well-capitalized with $979 million in cash as of September 30, 2025, providing a runway into the second half of 2028 [1][14] - Upcoming milestones include the initiation of the KT-621 BROADEN2 Phase 2b trial in AD and the BREADTH Phase 2b trial in asthma, both expected to accelerate development across multiple indications [2][9] Clinical Development Updates - Enrollment and dosing have been completed in the KT-621 BroADen Phase 1b trial for moderate to severe AD, with results anticipated in December 2025 [1][3] - The KT-621 BROADEN2 Phase 2b trial has been initiated, evaluating three doses in approximately 200 patients over 16 weeks, with data expected by mid-2027 [3][4] - KT-579, an oral degrader of IRF5, has completed IND-enabling studies, with a Phase 1 clinical trial expected to start in early 2026 [1][10] Financial Performance - Collaboration revenues for Q3 2025 were $2.8 million, down from $3.7 million in Q3 2024, primarily from the collaboration with Gilead Sciences [11] - Research and development expenses increased to $74.1 million in Q3 2025 from $60.4 million in Q3 2024, driven by investments in the STAT6 program [12] - The net loss for Q3 2025 was $82.2 million, compared to $62.5 million in Q3 2024, with cash and cash equivalents totaling $978.7 million as of September 30, 2025 [14][22]