Business
Kymera Therapeutics Announces Third Quarter 2023 Financial Results and Provides a Business Update
First patient dosed in KT-474/SAR444656 (IRAK4) Phase 2 HS clinical trial, generating a $40 million milestone payment from partner Sanofi; dosing of first
About this update from Kymera Therapeutics, Inc.
[{"type":"text","content":"First patient dosed in KT-474/SAR444656 (IRAK4) Phase 2 HS clinical trial, generating a $40 million milestone payment from partner Sanofi; dosing of first patient in Phase 2 AD trial expected in the fourth quarter of 2023 ASH abstract to be released today highlights KT-333 (STAT3) safety, PK/PD and initial anti-tumor activity in Phase 1 clinical trial KT-253 (MDM2) degrader achieved clinical proof-of-mechanism in Phase 1 clinical trial and demonstrated anti-tumor activity in first solid tumor cohort without dose-limiting toxicities or hematologic adverse events KT-413 (IRAKIMiD) development to be discontinued for strategic reasons despite reaching expected degradation levels and lack of dose-limiting toxicities Kymera to focus resources on its growing immunology pipeline targeting large opportunities with oral degrader mechanisms, to be disclosed at a virtual Immunology R&D Day on January 4, 2024 Cash balance of $435 million, representing an extended runway to the first half of 2026 Company to hold call and webcast today at 8:00 a.m. ET WATERTOWN, Mass., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of small molecule medicines using targeted protein degradation (TPD), today reported financial results for the third quarter ended September 30, 2023, and provided business updates on its pipeline of protein degraders. “This was an important quarter for Kymera, with our clinical programs demonstrating encouraging progress and reinforcing the promise of protein degradation to change the way we treat disease,” said Nello Mainolfi, Ph.D., Founder, President and CEO, Kymera Therapeutics. “Our partner Sanofi has begun Phase 2 studies of KT-474, and our oncology programs KT-333 and KT-253 have both shown signs of anti-tumor activity in liquid and solid tumor types, providing a critical foundation for how we intend to build even more value for patients, physicians and shareholders.” “In addition, with increased focus on the transformative opportunity we have in immunology, our discovery engine has produced several promising programs that we believe can have a significant impact on the way these complex diseases are managed. We intend to share more details on our strategy and these emerging programs, including the path to clinical data, in early Ja...