Kymera Therapeutics, Inc. Stock Price, News & Analysis

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company, announced participation in two upcoming investor conferences. The first is the Morgan Stanley 19th Annual Global Healthcare Conference, featuring a live webcast on September 9, 2021, at 1:15 p.m. ET. The second is the H.C. Wainwright 23rd Annual Global Investment Conference, with an on-demand presentation available from September 13, 2021, at 7:00 a.m. ET. Webcasts can be accessed on the Company's website, where archived versions will be available for 30 days.

Kymera Therapeutics (NASDAQ: KYMR) reported positive interim results from its Phase 1 trial of KT-474, a first-in-class oral IRAK4 degrader, demonstrating a 94% degradation rate. The company initiated dosing for the Multiple Ascending Dose (MAD) portion of the trial and expects Investigational New Drug Applications (IND) for KT-413 and KT-333 in 2H 2021. Following a successful follow-on offering, Kymera now has a pro forma cash position of $647 million to support ongoing development and pipeline expansion. Collaboration revenues rose to $18.5 million while net loss for Q2 2021 was $24.7 million.

Kymera Therapeutics (NASDAQ: KYMR) announced the appointments of Karen Weisbach as Vice President of People and Culture and Jolly Bhatia as Vice President of Quality. Weisbach brings over 15 years of HR experience from bluebird bio, focusing on talent strategies. Bhatia, with 25 years in quality oversight, previously held roles at X4 Pharmaceuticals and Alnylam Pharmaceuticals. These appointments are part of Kymera's effort to strengthen its capabilities in targeted protein degradation and expand its pipeline, which targets immune-inflammatory diseases and various cancers.

Kymera Therapeutics (NASDAQ: KYMR) has completed an upsized public offering of 5,468,250 shares at a price of $47.00 per share, raising approximately $257.0 million in gross proceeds. The offering includes an additional 713,250 shares from underwriters' options. The funds will support Kymera's mission to develop novel small molecule protein degraders to tackle difficult disease targets. The company is focused on the treatment of immune-inflammatory diseases and certain cancers through its innovative Pegasus™ platform.

Kymera Therapeutics (NASDAQ: KYMR) announced the pricing of its public offering of 4,755,000 shares at $47.00 per share, raising approximately $223.5 million in gross proceeds. All shares are offered by Kymera, with underwriters granted a 30-day option to purchase an additional 713,250 shares. The offering is expected to close on July 6, 2021, pending customary conditions. Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities are acting as joint book-running managers for the offering.

Kymera Therapeutics (NASDAQ: KYMR) announced an underwritten public offering of 4,000,000 shares of common stock, with a potential additional 600,000 shares for underwriters. The offering is subject to market conditions and aims to enhance Kymera's ability to advance its protein degradation therapies. Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities are joint book-running managers. A registration statement is filed with the SEC but not yet effective, and the offering will be made only via a prospectus.

Kymera Therapeutics announced positive interim results from the Phase 1 clinical trial of KT-474, showing over 85% target degradation in the Single Ascending Dose (SAD) portion, with a median degradation of 90% at the 300 mg dosage. The degradation was sustained for at least six days without any treatment-related adverse events. The FDA has lifted the partial clinical hold on the Multiple Ascending Dose (MAD) component, allowing Kymera to initiate repeat dosing in July 2021. The study represents a significant step in validating Kymera's targeted protein degradation platform.

Kymera Therapeutics (NASDAQ: KYMR) has appointed Elaine Caughey as Chief Business Officer, bringing over 20 years of biotechnology experience. Caughey previously held leadership roles at Cygnal Therapeutics and Biogen. CEO Nello Mainolfi expressed confidence in Caughey's capabilities to drive growth in Kymera’s pipeline, particularly in targeted protein degradation. This transition is crucial as multiple clinical programs are expected to advance this year. Founded in 2016, Kymera focuses on innovative small molecule degraders targeting disease-causing proteins, aiming to develop transformative therapies.