| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 34.37 | 55.5% |
| Total Income | 34.37 | 55.5% |
| Expenditure | 118.52 | 22.8% |
| PBT | — | |
| Net Profit | -69.23 | 5.6% |
| OPM | — | |
| NPM | — | |
| EPS | -0.71 | 13.4% |
Kymera Therapeutics Reports Q1 2026 Collaboration Revenue Up 55.5% to $34.4 Million
30 Apr 2026 · 30 Apr, 4:42 pm
Summary
Kymera Therapeutics, Inc. announced its first quarter 2026 financial results, reporting collaboration revenues of $34.4 million, a significant 55.5% increase from $22.1 million in the prior year's first quarter. Despite the revenue growth, the company's net loss widened slightly to $69.2 million from $65.6 million in Q1 2025, primarily due to increased research and development expenses of $98.2 million. CEO Nello Mainolfi highlighted disciplined execution and progress in clinical development, including the advancement of KT-621 and KT-579, and the $45 million milestone payment from Gilead Sciences for KT-200. The company remains well-capitalized with $1.55 billion in cash, providing a runway into 2029.
Key Highlights
- 1
Collaboration revenues for the first quarter of 2026 reached $34.4 million, representing a substantial 55.5% increase compared to $22.1 million in the first quarter of 2025.
- 2
The company reported a net loss of $69.2 million for the first quarter of 2026, an increase from the $65.6 million net loss recorded in the same period of the prior year.
- 3
Research and development expenses grew to $98.2 million in Q1 2026, up from $80.3 million in Q1 2025, reflecting continued investment in pipeline programs.
- 4
As of March 31, 2026, Kymera maintained a strong financial position with $1.55 billion in cash, cash equivalents, and investments, providing a projected cash runway into 2029.
- 5
Gilead Sciences exercised its option to exclusively license KT-200, a CDK2 molecular glue degrader, which generated a $45 million milestone payment for Kymera.
- 6
The U.S. Food and Drug Administration granted Fast Track designation to KT-621 for the treatment of moderate to severe eosinophilic asthma, adding to its existing Fast Track designation for atopic dermatitis.
Management Comments
Nello Mainolfi
PhD
As we continue to advance KT-621 and KT-579 through clinical development, our focus remains on disciplined execution and delivering on multiple important milestones this year. We remain committed to translating our first-in-class science into better outcomes for patients. Our STAT6 and IRF5 oral degrader programs exemplify this mission, and the growing recognition of our work within the scientific and medical community further validates the potential of our approach. We are continuing to build on this foundation with the advancement of KT-200, our oral CDK2 molecular glue degrader partnered with Gilead, and through progress within our early-stage pipeline.
Informational and educational content only. Not investment advice.