Business
Kymera Therapeutics Announces First Quarter 2023 Financial Results and Provides a Business Update
Phase 1 clinical trial of MDM2 degrader (KT-253) initiated KT-474 (SAR444656) Phase 2 planned to start in 2023;Kymera to present Phase 1 clinical data at EADV
About this update from Kymera Therapeutics, Inc.
[{"type":"text","content":"Phase 1 clinical trial of MDM2 degrader (KT-253) initiated KT-474 (SAR444656) Phase 2 planned to start in 2023;Kymera to present Phase 1 clinical data at EADV Symposium in May Phase 1 trials for STAT3 (KT-333) and IRAKIMiD (KT-413) degraders ongoing, with program updates at ICML in June March 31, 2023 cash balance approximately $516 million, with cash runway into second half of 2025 Company to hold quarterly results call at 8:30 a.m. ET WATERTOWN, Mass., May 04, 2023 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation (TPD) to deliver novel small molecule protein degrader medicines, today reported business highlights and financial results for the first quarter ended March 31, 2023. “Kymera made important progress in the first quarter against our ambitious goal of building a fully integrated degrader medicines company, and 2023 promises to be a year rich in data and milestones that build upon our prior scientific achievements and further establish the potential impact of our pipeline,” said Nello Mainolfi, PhD, Founder, President and CEO. “We have recently initiated the Phase 1 study of our MDM2 degrader KT-253, our fourth clinical program, where we believe targeted protein degradation has the potential to overcome the limitations of small molecule inhibitors, and we plan to investigate the potential of KT-253 for patients with liquid and solid tumors. With a growing pipeline, including the first-in-class IRAK4 degrader KT-474 currently in development with our partner Sanofi in hidradenitis suppurativa and atopic dermatitis, a robust discovery engine focused heavily on immunology, and a cash runway into the second half of 2025, we are well positioned to continue to deliver first in class therapies for patients around the world.” Business Highlights and Recent Developments In January, at the J.P. Morgan Healthcare Conference, Kymera shared its key research, development and corporate goals for 2023 and newly highlighted multiple programs, heavily focused on immunology, that Kymera is advancing toward clinical development. In February, Kymera presented an overview of its innovative platform capabilities at the Society for Laboratory Automation and Screening Annual International Conference & Exhibition, including quantitative proteomics techni...