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KYMR Q1 Earnings Top Estimates, Revenues Gain on GILD Collaboration
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Key Takeaways
KYMR reported Q1 loss of 71 cents, beating estimates, while revenues jumped 55.5% to $34.37M.
KYMR's growth is being driven by Gilead collaboration, with KT-200 option triggering a $45M milestone.
KYMR advances KT-621 into phase IIb trials, with Fast Track status boosting development momentum.
Kymera Therapeutics, Inc. (KYMR - Free Report) posted a first-quarter 2026 loss of 71 cents per share, narrower than the Zacks Consensus Estimate of a loss of 89 cents. In the year-ago quarter, the company reported a loss of 82 cents per share.
The company primarily earns revenues from collaborations with bigwigs like Gilead Sciences, Inc. (GILD - Free Report) and Sanofi (SNY - Free Report) .
Quarterly revenues totaled $34.37 million, which rose 55.5% year over year and surpassed the Zacks Consensus Estimate of $11 million.
All collaboration revenues recognized in the first quarter of 2026 were derived from the company’s partnership with GILD.
Year to date, shares of KYMR have gained 5.3% against the industry’s 1.1% decline.
Image Source: Zacks Investment Research
KYMR's Spending Rises as Clinical Execution Scales
Operating expenses increased as Kymera raised investment in its clinical pipeline and discovery engine. Research and development expenses amounted to $98.2 million, up 22.3% year over year, reflecting higher spending on the STAT6 program, platform and discovery efforts, along with continued growth in the R&D organization.
General and administrative expenses increased 25.1% to $20.4 million. This can be attributed to higher legal and professional service fees and increased personnel and facility-related costs to support growth as a public company.
Kymera exited the quarter with $1.55 billion in cash, cash equivalents and investments, supporting operating runway into 2029.
KYMR's Partner Momentum Expands With KT-200 Option
The quarter’s top-line strength reflected collaboration activity, with recognized revenues tied to Kymera’s partnership with Gilead Sciences. Management noted that the upfront payment received upon signing the licensing and option agreement last year has now been fully recognized, setting the stage for milestone-driven revenue variability going forward.
A key post-quarter development was Gilead’s decision to exercise its option to exclusively license KT-200, a first-in-class oral CDK2 molecular glue degrader. The exercise triggers a $45 million milestone payment expected to be received in the second quarter, and the agreement includes eligibility for roughly $700 million of additional milestone payments.
Kymera's KT-621 Advances in Two Mid-Stage Trials
KT-621 remains Kymera’s lead wholly owned program, an investigational once-daily oral STAT6 degrader for type II inflammatory diseases. The company is running two parallel phase IIb trials to accelerate decision-making and gather dose-ranging data across dermatology and respiratory indications.
In atopic dermatitis (AD), the BROADEN2 study is a global, randomized, double-blind, placebo-controlled, dose-ranging trial evaluating three doses in about 200 patients aged 12 to 75 over 16 weeks. The primary endpoint is the percent change from baseline in EASI at Week 16, with additional safety and quality-of-life measures as secondary endpoints. Enrollment is expected to be completed in 2026, with data anticipated by mid-2027.
KYMR's Fast Track Adds to STAT6 Development Tailwinds
In asthma, Kymera’s BREADTH study is evaluating three doses in approximately 264 adult patients with moderate-to-severe eosinophilic asthma over 12 weeks. The primary endpoint is the change from baseline in pre-bronchodilator FEV1, with a broader set of secondary endpoints spanning safety, efficacy, and quality-of-life measures. The company expects data in late 2027.
The FDA granted Fast Track designation to KT-621 for moderate-to-severe eosinophilic asthma, adding to a prior Fast Track designation in atopic dermatitis.
Kymera's KT-579 Sets Up a 2H26 Clinical Readout
Beyond STAT6, Kymera is progressing KT-579, a first-in-class oral degrader of IRF5, a transcription factor positioned as a master regulator across autoimmune diseases. After IND clearance, the company began dosing a first-in-human phase I study in healthy volunteers to evaluate safety, tolerability, pharmacokinetics and pharmacodynamics across single- and multiple-ascending dose cohorts.
Management emphasized that the near-term goal is to demonstrate robust IRF5 degradation in blood at doses that remain safe and well tolerated.
KYMR’s Partnership With Sanofi
KT-485/SAR447971, a selective and potent oral IRAK4 degrader developed in partnership with Sanofi, is positioned as a novel oral therapy for a range of chronic immuno-inflammatory diseases. The program has completed IND-enabling studies and is expected to enter clinical trials in 2026.
Our Take on KYMR’s Performance
Kymera’s pipeline progress is impressive. R&D expenses continue to increase as the company advances its pipeline.
The investment thesis centers on pipeline execution in targeted protein degradation, led by KT-621 in phase II for AD and asthma. Additional positive pipeline updates on KT-621 will be a boost for the stock.
Kymera reiterated that its cash resources are expected to fund ongoing Phase IIb execution for KT-621, advance KT-579 into early proof-of-concept planning, and support continued pipeline expansion as the company prepares for later-stage development.
Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.42 to $1.40.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.
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KYMR Q1 Earnings Top Estimates, Revenues Gain on GILD Collaboration
Key Takeaways
Kymera Therapeutics, Inc. (KYMR - Free Report) posted a first-quarter 2026 loss of 71 cents per share, narrower than the Zacks Consensus Estimate of a loss of 89 cents. In the year-ago quarter, the company reported a loss of 82 cents per share.
The company primarily earns revenues from collaborations with bigwigs like Gilead Sciences, Inc. (GILD - Free Report) and Sanofi (SNY - Free Report) .
Quarterly revenues totaled $34.37 million, which rose 55.5% year over year and surpassed the Zacks Consensus Estimate of $11 million.
All collaboration revenues recognized in the first quarter of 2026 were derived from the company’s partnership with GILD.
Year to date, shares of KYMR have gained 5.3% against the industry’s 1.1% decline.
Image Source: Zacks Investment Research
KYMR's Spending Rises as Clinical Execution Scales
Operating expenses increased as Kymera raised investment in its clinical pipeline and discovery engine. Research and development expenses amounted to $98.2 million, up 22.3% year over year, reflecting higher spending on the STAT6 program, platform and discovery efforts, along with continued growth in the R&D organization.
General and administrative expenses increased 25.1% to $20.4 million. This can be attributed to higher legal and professional service fees and increased personnel and facility-related costs to support growth as a public company.
Kymera exited the quarter with $1.55 billion in cash, cash equivalents and investments, supporting operating runway into 2029.
KYMR's Partner Momentum Expands With KT-200 Option
The quarter’s top-line strength reflected collaboration activity, with recognized revenues tied to Kymera’s partnership with Gilead Sciences. Management noted that the upfront payment received upon signing the licensing and option agreement last year has now been fully recognized, setting the stage for milestone-driven revenue variability going forward.
A key post-quarter development was Gilead’s decision to exercise its option to exclusively license KT-200, a first-in-class oral CDK2 molecular glue degrader. The exercise triggers a $45 million milestone payment expected to be received in the second quarter, and the agreement includes eligibility for roughly $700 million of additional milestone payments.
Kymera's KT-621 Advances in Two Mid-Stage Trials
KT-621 remains Kymera’s lead wholly owned program, an investigational once-daily oral STAT6 degrader for type II inflammatory diseases. The company is running two parallel phase IIb trials to accelerate decision-making and gather dose-ranging data across dermatology and respiratory indications.
In atopic dermatitis (AD), the BROADEN2 study is a global, randomized, double-blind, placebo-controlled, dose-ranging trial evaluating three doses in about 200 patients aged 12 to 75 over 16 weeks. The primary endpoint is the percent change from baseline in EASI at Week 16, with additional safety and quality-of-life measures as secondary endpoints. Enrollment is expected to be completed in 2026, with data anticipated by mid-2027.
KYMR's Fast Track Adds to STAT6 Development Tailwinds
In asthma, Kymera’s BREADTH study is evaluating three doses in approximately 264 adult patients with moderate-to-severe eosinophilic asthma over 12 weeks. The primary endpoint is the change from baseline in pre-bronchodilator FEV1, with a broader set of secondary endpoints spanning safety, efficacy, and quality-of-life measures. The company expects data in late 2027.
The FDA granted Fast Track designation to KT-621 for moderate-to-severe eosinophilic asthma, adding to a prior Fast Track designation in atopic dermatitis.
Kymera's KT-579 Sets Up a 2H26 Clinical Readout
Beyond STAT6, Kymera is progressing KT-579, a first-in-class oral degrader of IRF5, a transcription factor positioned as a master regulator across autoimmune diseases. After IND clearance, the company began dosing a first-in-human phase I study in healthy volunteers to evaluate safety, tolerability, pharmacokinetics and pharmacodynamics across single- and multiple-ascending dose cohorts.
Management emphasized that the near-term goal is to demonstrate robust IRF5 degradation in blood at doses that remain safe and well tolerated.
KYMR’s Partnership With Sanofi
KT-485/SAR447971, a selective and potent oral IRAK4 degrader developed in partnership with Sanofi, is positioned as a novel oral therapy for a range of chronic immuno-inflammatory diseases. The program has completed IND-enabling studies and is expected to enter clinical trials in 2026.
Our Take on KYMR’s Performance
Kymera’s pipeline progress is impressive. R&D expenses continue to increase as the company advances its pipeline.
The investment thesis centers on pipeline execution in targeted protein degradation, led by KT-621 in phase II for AD and asthma. Additional positive pipeline updates on KT-621 will be a boost for the stock.
Kymera reiterated that its cash resources are expected to fund ongoing Phase IIb execution for KT-621, advance KT-579 into early proof-of-concept planning, and support continued pipeline expansion as the company prepares for later-stage development.
KYMR’s Zacks Rank & Stock to Consider
Kymera Therapeutics currently carries a Zacks Rank #3 (Hold). A better-ranked biotech is Castle Biosciences (CSTL - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.42 to $1.40.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.