Quarterly ResultApr 30, 2026, 07:12 AM
KYMR Q1 Net Loss $69.2M; Gilead Licenses KT-200 for $45M Milestone
AI Summary
Kymera Therapeutics reported its first quarter 2026 financial results, with a net loss of $69.2 million, an increase from $65.6 million in Q1 2025. Collaboration revenues rose to $34.4 million from $22.1 million year-over-year. The company announced that Gilead Sciences exercised its option to exclusively license KT-200, a CDK2 molecular glue degrader, triggering a $45 million milestone payment. Additionally, KT-621 received FDA Fast Track designation for moderate to severe eosinophilic asthma, and Phase 2b trials for KT-621 are ongoing with data expected by mid-2027 and late 2027.
Key Highlights
- Gilead Sciences licensed KT-200, generating a $45 million milestone payment for Kymera.
- KT-621 received FDA Fast Track designation for moderate to severe eosinophilic asthma.
- Q1 2026 net loss was $69.2 million, compared to $65.6 million in Q1 2025.
- Q1 2026 collaboration revenues increased to $34.4 million from $22.1 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $1.55 billion as of March 31, 2026, with runway into 2029.
- KT-621 Phase 2b data expected by mid-2027 (atopic dermatitis) and late 2027 (asthma).
- KT-579 Phase 1 healthy volunteer trial data expected in the second half of 2026.