Kymera Therapeutics, Inc. - KYMR STOCK NEWS

Kymera Therapeutics (NASDAQ: KYMR) has successfully closed its upsized public offering, raising $258.75 million in gross proceeds. The offering included 2,830,533 shares of common stock at $40.75 per share and pre-funded warrants for 3,519,159 shares at $40.7499 per warrant. The underwriters fully exercised their option to purchase additional shares. Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel acted as joint book-running managers for the offering. The securities were offered through an automatically effective shelf registration statement filed with the SEC on October 1, 2021.

Kymera Therapeutics (NASDAQ: KYMR) has priced a $225 million public offering of common stock and pre-funded warrants. The company is selling 2,002,313 shares at $40.75 per share and pre-funded warrants for 3,519,159 shares at $40.7499 each. Kymera has granted underwriters a 30-day option to purchase up to 828,220 additional shares. The offering is expected to close on August 21, 2024.

Proceeds will be used to advance Kymera's pipeline of preclinical and clinical degrader programs, for working capital, and other corporate purposes. The company may also use funds for in-licensing, acquisitions, or investments in complementary businesses or technologies. Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are acting as joint book-running managers for the offering.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company focusing on targeted protein degradation, has announced a proposed public offering of $200 million in common stock and pre-funded warrants. The company plans to grant underwriters a 30-day option for an additional $30 million in shares. Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are acting as joint book-running managers. Kymera intends to use the proceeds to advance its pipeline of preclinical and clinical degrader programs, for working capital, and potentially for in-licensing or acquiring complementary businesses or technologies. The offering is subject to market conditions and is being made through a shelf registration statement filed with the SEC.

Kymera Therapeutics (NASDAQ: KYMR) reported Q2 2024 financial results and provided a business update. Key highlights include:

1. Sanofi plans to expand KT-474/SAR444656 Phase 2 trials in HS and AD.

2. STAT6 degrader program on track for Phase 1 initiation in H2 2024.

3. TYK2 degrader program set to initiate and complete Phase 1 in 2025.

4. KT-253 (MDM2) and KT-333 (STAT3) oncology degrader programs showed major responses in clinical trials.

5. $702 million cash position as of June 30, 2024, with runway into H1 2027.

6. Q2 2024 collaboration revenues: $25.7 million; R&D expenses: $59.2 million; G&A expenses: $17.4 million; Net loss: $42.1 million.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company focused on targeted protein degradation (TPD), has announced it will report its second quarter 2024 financial results on August 7, 2024. The company will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Investors can access the call via phone or through a live webcast available on the company's website. A replay of the webcast will be archived for future reference. This announcement indicates Kymera's commitment to transparency and regular communication with investors regarding its financial performance and progress in developing new small molecule medicines using TPD technology.

Kymera Therapeutics (NASDAQ: KYMR), a clinical-stage biopharmaceutical company specializing in targeted protein degradation (TPD) therapies, will participate in a fireside chat at the UBS Virtual TPD Day.

The event is scheduled for July 15, 2024, at 1:00 p.m. ET. A live webcast of the presentation will be accessible on the company's website under the 'News and Events' section in the Investors area. An archived replay will be available post-event.

Kymera Therapeutics announced that Sanofi will expand the ongoing Phase 2 trials for KT-474 (SAR444656) in Hidradenitis Suppurativa (HS) and Atopic Dermatitis (AD) after an interim review of safety and efficacy data. The expansion aims to accelerate progress toward pivotal studies. CEO Nello Mainolfi highlighted KT-474's potential to address significant unmet needs in large markets. Further details on trial designs and updated timings will be provided as the expanded Phase 2 trials progress.

Kymera Therapeutics presented new clinical data from its ongoing Phase 1 trial of KT-333, a STAT3 degrader, at the EHA Annual Meeting. KT-333 showed promising results in treating various hematological malignancies, including complete responses in two Hodgkin's lymphoma patients. The trial enrolled 47 patients across seven dose levels, achieving up to 95% STAT3 degradation. Notably, KT-333 was well-tolerated, showing mostly minor side effects. The company plans to continue dose escalation and expects to release more data in the second half of 2024.

Kymera Therapeutics presented new clinical data from its ongoing Phase 1 trial of KT-253, an MDM2 degrader, at the ASCO Annual Meeting. Results showed initial clinical proof of concept with efficacy in patients with tumor types such as MCC and AML. KT-253 demonstrated target engagement and upregulation of p53 pathway biomarkers even at low doses. The compound was generally well tolerated without the hematologic adverse events seen with traditional MDM2 inhibitors. The trial continues with more data expected in the second half of 2024.