KYMR Stock — Kymera Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company dedicated to reinventing the treatment of human disease through the development of innovative, highly differentiated oral medicines that address significant health problems and meaningfully improve patients’ lives.

Source: 10-K FY2025 via SEC EDGAR

Share price

$131.73

Market cap

$11,246.0M

Cash

$1,645.9M

Enterprise value

$9,600.1M

Balance sheet

Cash	$1,645.9M
Debt	$0.0M
Net cash	$1,645.9M
Enterprise value	$9,600.1M
Basic shares	85.4M shares
Fully diluted shares	112.2M shares
Fully diluted market cap	$14,779.7M
Cash per share	$19.28
Quarterly burn	$54.1M
Cash runway	27.8 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

83.2M

Pre-funded warrants

15.8M

Options

9.0M

RSUs

1.5M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

2.7M

FDSO

112.2M

Cap table as of 2026-06-30.

Price history

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Next catalyst

KT-621 (BROADEN2) · Dec 1-31 · guided in 24d

Recently reported

KT-579 Phase 1 Positive · 2026-10-29

KT-579

Primary: IRF5 degradation, pharmacokinetics, pharmacodynamics and safety in the completed first-in-human Phase 1 single- and multiple-ascending-dose healthy volunteer trial of KT-579 (oral IRF5 degrader) — The trial met or exceeded its objectives and established proof of mechanism: in the multiple ascending dose portion, deep, sustained IRF5 degradation in blood with ≥90% median degradation across multiple dose levels and saturation of degradation by dose level 3

· Ex vivo-stimulated IRF5-dependent biomarkers at Day 14 (median of all MAD dose cohorts): inhibition of 88% of TNFα, 87% of IL-12/23p40, 94% of IL-1β, and 98% of IFNβ

· Similar reductions in IRF5 levels observed in skin, demonstrating target degradation in tissue as well as blood

· Broad downregulation of inflammatory cytokine, interferon and B-cell associated gene transcripts

· LUMORA Phase 1b trial in approximately 30 adults with systemic lupus erythematosus (16 weeks of dosing) planned to start by early 2027

· KT-621 BROADEN2 Phase 2b atopic dermatitis trial: last patient completed the week 16 visit, topline data to be reported by year-end 2026

Safety: Comparable to placebo: no serious or severe adverse events, no AEs leading to discontinuation, very few mild treatment-related AEs, no dose-dependent pattern in treatment-emergent AEs, and no clinically relevant changes in vital signs, laboratory tests or ECGs

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDDec 1-31 in 24d	KT-621 (BROADEN2) BROADEN2 Phase 2b in atopic dermatitis	Phase 2b	atopic dermatitis	year-end 2026
Jan 12 - Feb 23 in 9 wks	KT-579	Phase 1	Healthy Participants	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
Jul 13 - Aug 24 in 8 mo	KT-621	Phase 2	Atopic Dermatitis	—
GUIDEDEst. Oct 31, 2027 in 10 mo guidance midpoint	KT-621 (BREADTH) BREADTH Phase 2b in asthma	Phase 2b	asthma	late 2027
Jan 12 - Feb 23 in 14 mo	KT-621	Phase 2	Eosinophilic Asthma	—
Mar 29 - May 10 in 17 mo	SAR447971	Phase 1	Hidradenitis; Healthy Volunteers	—
Jan 12 - Feb 23 in 27 mo	KT-621	Phase 2	Asthma (Diagnosis)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

KT-621

Phase 2 · Active Modality: oral targeted protein degrader

Target STAT6

Indications

Moderate-to-severe atopic dermatitis (BROADEN2 Phase 2b) (Phase 2)
Moderate-to-severe asthma (BREADTH Phase 2b) (Phase 2)

Status note STAT6 program lead; oral degrader targeting the IL-4/IL-13 Type 2 inflammation pathway. Two Phase 2b trials recently initiated.

KT-579

Phase 1 · Active Modality: oral targeted protein degrader

Target IRF5

Indications

not disclosed (Stage not disclosed)

Status note IRF5 degrader program; Phase 1 in healthy volunteers recently initiated.

KT-485

Phase 1 · Active Modality: targeted protein degrader

Aliases SAR447971

Target IRAK4

Partnerships Sanofi: collaboration on IRAK4 degrader; Sanofi advances KT-485 into clinical testing; Kymera eligible for up to $955M additional development/commercial milestones + tiered royalties.

Status note Next-generation IRAK4 degrader; first participant dosed in first-in-human Phase 1 in Jun 2026 ($20M milestone).

KT-474

Phase 2 · Terminated Modality: targeted protein degrader

Target IRAK4

Partnerships Sanofi (collaboration)

Status note First-generation IRAK4 degrader; Sanofi stopped development in Jun 2025 after electing to advance KT-485 instead. Had reached Phase 2 in two undisclosed indications.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	KT-621
Lead indication	Atopic Dermatitis
Lead phase	Phase 2
Active trials	4
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07217015	Phase 2	Active, not recruiting	Sponsor	KYMR	—	Atopic Dermatitis	year-end 2026
NCT07323654	Phase 2	Recruiting	Sponsor	KYMR	—	Eosinophilic Asthma	late 2027 Est. Oct 31, 2027 · guidance midpoint
NCT07677059	Phase 2	Recruiting	Sponsor	KYMR	—	Asthma (Diagnosis)	late 2027 Est. Oct 31, 2027 · guidance midpoint
NCT07412288	Phase 1	Recruiting	Sponsor	KYMR	—	Healthy Participants	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
NCT07629336	Phase 1	Recruiting	Collaborator	SNY	SNY	Hidradenitis; Healthy Volunteers	—

Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 5 active trials for Kymera Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	8,657,242	no change	4.97%	2026-08-14
Avoro Capital Advisors	7,474,747	no change	7.70%	2026-08-14
BVF Partners	3,872,052	-1,630,658	11.35%	2026-08-14
Boxer Capital	429,100	+100,000	3.71%	2026-08-14
Braidwell LP	378,163	+40,604	1.60%	2026-08-14
RTW Investments	240,000	no change	0.23%	2026-08-14
DAFNA Capital	27,000	+27,000	0.59%	2026-08-14
Deerfield Management	0	-561,170	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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KYMR — Kymera Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

KYMR — Kymera Therapeutics Inc.