Kymera Therapeutics (NasdaqGM:KYMR) FY Conference December 04, 2025 08:45 AM ET Company ParticipantsJared Gollob - CMOBruce Jacobs - CFOBruce JacobsAwesome.ModeratorAll right. We're going to go ahead and get started. So thanks so much for joining, everyone. Next up, we have Kymera Therapeutics. Really big year for you guys. Next year will be big, too. But maybe we can just start off with an overview of the company. So we have Bruce Jacobs, the CFO, Jared Gollob, who is the CMO. And over to you guys for an o ...

Financial Data and Key Metrics Changes - Kymera Therapeutics has a cash position of $980 million, providing a runway into the second half of 2028, which supports ongoing phase 2B studies and initial phase 3 studies for STAT6 and IRF5 programs [28][29]. Business Line Data and Key Metrics Changes - The company is focusing on two wholly owned programs: the STAT6 program, which is nearing data readout, and the IRF5 program, set to enter the clinic next year [3][4]. - The STAT6 program has progressed through phase 1A and is currently in phase 1B, with plans to initiate phase 2B studies in atopic dermatitis and asthma [10][24]. Market Data and Key Metrics Changes - The atopic dermatitis market has over 40 million diagnosed patients, but only about 1 million are treated with Dupixent (Dupy), indicating a significant unmet need for effective treatments [20][21]. - The company sees a large opportunity for oral medications in the market, especially for pediatric populations who currently face challenges with injectable treatments [32][33]. Company Strategy and Development Direction - Kymera aims to leverage its unique platform technology to develop drugs that provide biologic-like efficacy with a similar safety profile, focusing on immunology as a key area of opportunity [2][3]. - The company plans to conduct phase 2B studies in atopic dermatitis and asthma, which will serve as sentinel studies for future phase 3 trials across multiple indications [24][26]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of their STAT6 and IRF5 programs, highlighting the transformative potential of their oral drugs in treating Th2 allergic diseases [32][33]. - The company is committed to maintaining control over its development process to accelerate timelines and ensure the right patient populations are included in trials [43][46]. Other Important Information - Kymera has made a strategic decision to not partner its programs at this stage, believing it can execute phase 2B studies effectively on its own [24][26]. - The company is exploring the use of AI to enhance clinical operations and improve efficiency in patient recruitment and data analysis [51][52]. Q&A Session Summary Question: How does the company view the competitive landscape for its STAT6 and IRF5 programs? - Management believes that while many companies are interested in protein degradation, Kymera's focused approach and deep expertise give it a competitive edge in developing effective therapies [68]. Question: What are the key objectives for the upcoming phase 1B and phase 2B studies? - The main objectives include confirming safety and pharmacokinetics, validating dosing for phase 2B, and demonstrating biomarker effects similar to those seen with Dupixent [6][7][10]. Question: How does the company plan to address the commercial opportunity for its drugs? - The strategy involves focusing on the largest markets first, such as atopic dermatitis and asthma, and potentially expanding to other indications based on the success of initial studies [22][23].