Kymera Therapeutics
Develops oral protein degraders for immunology and partnered oncology programs.
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Profile
Develops oral protein degraders for immunological diseases through internal STAT6 and IRF5 programs, while Sanofi and Gilead advance partnered IRAK4 and CDK2 assets. Operates as a single development segment with no drug sales, relying on collaboration revenue and external funding to advance its pipeline.
Develops oral small-molecule medicines that use targeted protein degradation to remove disease-driving proteins. Its internal immunology pipeline centers on KT-621, a STAT6 degrader in mid-stage trials for atopic dermatitis and asthma, and KT-579, an IRF5 degrader in early clinical testing for autoimmune diseases.
Partnered programs include Sanofi-led KT-485/SAR447971, an IRAK4 degrader in early clinical testing for immuno-inflammatory diseases, and KT-200, a Gilead-partnered CDK2 molecular glue program for oncology. The discovery engine combines target selection, structural methods, proteomics, and translational biology to pursue proteins that conventional inhibitors struggle to address.
Runs research from Watertown and operates as a single development segment, with no drug sales and collaboration-based revenue. Clinical progress, regulatory approval, partner execution, outsourced trials, and external manufacturing remain structural dependencies.
Company facts
Key statistics
Year to date +62.3% · Average volume (30d) 633.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Morgan Stanley | Reiterate | Overweight | $119 | $135 | |
| Aug 6, 2026 | Barclays | Reiterate | Overweight | $133 | $139 | |
| Aug 5, 2026 | Oppenheimer | Reiterate | Outperform | $120 | $125 | |
| Jul 30, 2026 | Deutsche Bank | Initiate | Hold | $120 | ||
| Jul 28, 2026 | Guggenheim | Reiterate | Buy | $90 | $135 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.71 | −$0.62 | +13.0% | $32.8M | $65.0M | +98.3% | +1.04% |
| Apr 30, 2026Q1 FY26 | −$0.89 | −$0.71 | +20.2% | $8.3M | $34.4M | +315.7% | −0.44% |
| Feb 26, 2026Q4 FY25 | −$0.78 | −$0.97 | −23.8% | $15.0M | $2.9M | −80.9% | −3.87% |
| Nov 4, 2025Q3 FY25 | −$0.71 | −$0.90 | −26.8% | $14.5M | $2.8M | −80.9% | −0.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $22.1M | $11.5M | $2.8M | $2.9M | $34.4M | $65.0M | |
| Gross profit | $22.1M | $9.4M | −$71.3M | $79.0M | $34.4M | $65.0M | |
| Operating income | −$74.4M | −$84.6M | −$92.5M | −$97.9M | −$84.2M | −$75.6M | |
| Net income | −$65.6M | −$76.6M | −$82.2M | −$87.0M | −$69.2M | −$61.2M | |
| Diluted EPS | −$0.82 | −$0.95 | −$0.94 | −$0.98 | −$0.71 | −$0.62 | |
| Gross margin | 100.0% | 81.8% | -2,580.7% | 2,763.6% | 100.0% | 100.0% | |
| Operating margin | -336.8% | -736.8% | -3,347.4% | -3,422.9% | -244.9% | -116.3% |
Fiscal years (4-quarter sums)FY21 $72.8M · FY22 $46.8M · FY23 $78.6M · FY24 $47.1M · FY25 $39.2M
Balance sheet, Jun 30, 2026Cash & short-term investments $691.0M · Total debt $82.2M · Total assets $1.65B · Shareholders' equity $1.51B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 82.26M · Float 72.95M · 88.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 12.35M | 15.01% | 13F | Aug 13, 2026 |
| Baker Bros. Advisors LP | 8.66M | 10.52% | 13F | Aug 14, 2026 |
| Avoro Capital Advisors LLC | 7.47M | 9.09% | 13F | Aug 14, 2026 |
| Price T Rowe Associates Inc /MD/ | 7.11M | 8.65% | 13F | Aug 14, 2026 |
| T. Rowe Price Investment Management, Inc. | 6.26M | 7.61% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 7, 2026 | Nello Mainolfi | director, officer: Chief Executive Officer | −50,000 | $119.00 |
| Jun 29, 2026 | Bruce Booth | director | −153,300 | $108.05 |
| Jul 1, 2026 | Nello Mainolfi | director, officer: Chief Executive Officer | −80,000 | $115.29 |
| Jul 1, 2026 | Noah Goodman | officer: Chief Business Officer | −3,389 | $114.29 |
| Jun 30, 2026 | Bruce N. Jacobs | officer: Chief Financial Officer | −77,109 | $114.96 |
Peers
- Sanofi (ADR)
Dominates Type 2 inflammation through Dupixent
- Nurix Therapeutics
Direct degrader-platform overlap in STAT6 and IRAK4
- Regeneron
Co-owns the Dupixent benchmark for STAT6 biology
- Arvinas
Public PROTAC leader competing for degrader validation
- Monte Rosa Therapeutics
Molecular glue immunology peer with VAV1 and NEK7
- Eli Lilly
Challenges KT-621 in atopic dermatitis with Ebglyss
- C4 Therapeutics
Clinical TPD peer with TORPEDO and IRAK4 adjacency
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kymera Therapeutics | $118.15 | +0.06% | $9.72B | — | — | 92.6 | +466.4% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Nurix Therapeutics | $26.64 | +1.72% | $2.72B | — | — | 74.0 | −79.5% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Arvinas | $9.18 | +0.05% | $592.3M | 57.4 | — | 1.9 | +1,014.7% |
| Monte Rosa Therapeutics | $13.38 | +0.04% | $1.13B | — | — | 39.3 | −61.2% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| C4 Therapeutics | $3.91 | +1.54% | $425.7M | — | — | 12.1 | +2.8% |
| Median | 48.4 | 20.9 | 12.1 | +11.2% |