Kymera Therapeutics, Inc. · NASDAQ:KYMR

Kymera Therapeutics — Technical Presentation (December 2025)

57 slides from Kymera Therapeutics's technical presentation, December 2025

  1. Slide 1: KT-621, Oral STAT6 Degrader, Phase 1b Results

    KT-621, Oral STAT6 Degrader, Phase 1b Results 1

  2. Slide 2: Agenda

    Agenda Introduction Justine Koenigsberg Vice President, Investor Relations Revolutionizing Immunology with Oral Medicines Nello Mainolfi, PhD Founder, President and Chief Executive Officer KT-621 BroADen Phase 1b Data Jared Gollob, MD Chief Medical Officer Closing Remarks Nello Mainolfi, PhD Founder

  3. Slide 3: Forward Looking Statements

    Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements include, but are not limited to, implied and express statements about our strategy, business

  4. Slide 4: Revolutionizing Immunology with Oral Medicines

    Revolutionizing Immunology with Oral Medicines Nello Mainolfi, PhD Founder, President and CEO 4

  5. Slide 5: Kymera: Revolutionizing Immunology with Oral Medicines

    Kymera: Revolutionizing Immunology with Oral Medicines • Leader in Targeted Protein Degradation (TPD) • Unique target selection strategy pursuing traditionally undrugged targets in highly validated pathways • Best-in-industry capabilities in hit finding and optimization of oral degraders Strategical

  6. Slide 6: Immunology Remains a Large Underserved Market

    Immunology Remains a Large Underserved Market Millions of Patients Do Not Have Access to Advanced Systemic Therapies Untreated ~62M (39%) ~160M Advanced Therapies >$100B PATIENTS ~5M (3%) IN ANNUAL SALES DIAGNOSED WITH FOR ADVANCED IMMUNOLOGICAL THERAPIES2 DISEASES1 Non-Advanced Therapies ~90M (58%)

  7. Slide 7: Advanced Systemic Therapies Are Mostly Injectable Biologics

    Advanced Systemic Therapies Are Mostly Injectable Biologics Biologics Have Numerous Limitations, Making Orals Preferred by Most Patients • Inconvenient, burdensome, >90% and often painful for patients WOULD SWITCH TO AN ORAL • Immunogenicity risks OPTION1 • In-office injection training costs HCPs va

  8. Slide 8: Small Molecule Oral Degraders Can Transform Treatment of Diseases

    Small Molecule Oral Degraders Can Transform Treatment of Diseases Oral Drugs with Biologics-like Activity Unlike Traditional Small Molecule Inhibitors (SMI), Degraders Allow for Continuous, Complete Pathway Blockade TYPICAL PK OF ORAL DRUGS PD OF DEGRADERS VS SMI SMI Suppression Drug (follows exposu

  9. Slide 9: STAT6 Transcription Factor, Highly Validated but Undrugged Target

    STAT6 Transcription Factor, Highly Validated but Undrugged Target STAT6 • STAT6 is the specific transcription factor in TRANSCRIPTION the IL-4/IL-13 pathway FACTOR • IL-4/IL-13 pathway is clinically validated by Dupilumab IL-4 Dupilumab IL-4 IL-13 dupilumab across multiple Type 2 allergic IL-4Rα γC

  10. Slide 10: STAT6 Opportunity to Serve Millions of Patients with Type 2 Inflammation

    STAT6 Opportunity to Serve Millions of Patients with Type 2 Inflammation DERMATOLOGY PATIENTS1 AD 43M CSU 4.4M PN 305K >140M <2M BP 166K GASTROENTEROLOGY TOTAL EoE 1.6M TREATED WITH POTENTIAL SYSTEMIC ADVANCED RESPIRATORY THERAPIES2 PATIENT IMPACT1 Asthma 55M COPD 34M CRSwNP 2.8M An oral STAT6 degra

  11. Slide 11: KT-621: Compelling Preclinical Profile

    KT-621: Compelling Preclinical Profile Preclinical Package Suggests Potential for Dupilumab-like Activity in a Pill Full Inhibition of IL-4/IL-13 Excellent Preclinical Exquisite Robust Degradation Pathways, More Potent Activity Comparable or Selectivity in Relevant Cell Types than Dupilumab Superior

  12. Slide 12: KT-621: Compelling Clinical Profile

    KT-621: Compelling Clinical Profile KT-621 Phase 1 Healthy Volunteer Data Suggests Potential for Dupilumab-like Activity in a Pill Robust STAT6 Degradation in Blood and Reductions in Multiple Disease-Relevant Skin Following Low Daily Oral Doses Type 2 Biomarkers 100 Serum TARC1 with Serum Eotaxin-32

  13. Slide 13: KT-621 Development Plan Enables Efficient Path to Registration

    KT-621 Development Plan Enables Efficient Path to Registration Across All Type 2 Diseases Ph3 Ph2b AD Dose Ph3: AD (Initial), Dose Ranging EoE, CSU, PN, BP Ongoing Data expected by Mid-2027 Ph1 HV Ph1b AD SAD-MAD Single Arm, Open Label ✓ Complete ✓ Today’s Release Ph3 Ph2b Asthma Dose Ph3: Asthma (I

  14. Slide 14: BroADen KT-621 Phase 1b AD Study Surpassed Objectives

    BroADen KT-621 Phase 1b AD Study Surpassed Objectives Effects on All Type 2 Biomarkers and Clinical Endpoints Were in Line with or in Some Cases Numerically Exceeded Published Data for Dupilumab at Week 4 BroADen Endpoints Phase 1b Results Highlights ü Strong fidelity of translation from Phase 1a he

  15. Slide 15: KT-621: Phase 1b Atopic Dermatitis Trial Results

    KT-621: Phase 1b Atopic Dermatitis Trial Results Jared Gollob, MD Chief Medical Officer 15

  16. Slide 16: Agenda

    Agenda • Atopic Dermatitis Overview • Trial Design • Demographics/Baseline Characteristics • STAT6 Degradation • Type 2 Inflammation Biomarkers • Clinical Endpoints • Safety 16

  17. Slide 17: Atopic Dermatitis: Intensely Pruritic, Chronic and Underserved Disease

    Atopic Dermatitis: Intensely Pruritic, Chronic and Underserved Disease Opportunity Exists to Transform the Treatment Paradigm • Chronic inflammatory disease that causes inflamed and irritated skin, making it itchy and painful • Majority of patients have disease onset as children and carry the diseas

  18. Slide 18: Design Phase 1b in Moderate to Severe Atopic Dermatitis Patients

    Design • Single arm, open label • 22 patients Phase 1b in Moderate to Severe • Oral, once daily dose for 28 days Atopic Dermatitis Patients • 14-day follow-up after dosing completed Baseline entry criteria: • Adult, moderate to severe AD patients Dosing • Two sequential dose cohorts EASI ≥16 • 100 m

  19. Slide 19: BroADen Phase 1b Demographics

    BroADen Phase 1b Demographics Generally Well-Balanced Across Treatment Cohorts 100 mg 200 mg Overall (n=10) (n=12) (n=22) Gender, n (%) Female 6 (60) 7 (58.3) 13 (59.1) Male 4 (40) 5 (41.7) 9 (40.9) Age, years, mean (SD) 30.1 (8.5) 33.0 (11.4) 31.7 (10.1) BMI, kg/m2, mean (SD) 32.8 (11.5) 30.8 (9.2)

  20. Slide 20: BroADen Phase 1b Baseline Disease Characteristics

    BroADen Phase 1b Baseline Disease Characteristics Generally Well-Balanced Across Treatment Cohorts 100 mg 200 mg Overall (n=10) (n=12) (n=22) vIGA-AD, n (%) Moderate (3) 6 (60) 6 (50) 12 (54.5) Severe (4) 4 (40) 6 (50) 10 (45.5) EASI Score, mean (SD) 23.5 (7.5) 26.1 (9) 24.9 (8.3) Other Disease Char

  21. Slide 21: STAT6 Degradation

    STAT6 Degradation apeutics,Inc. |KYMERA 21

  22. Slide 22: Achieved Deep STAT6 Degradation in Blood

    KT-621 Achieved Deep STAT6 Degradation in Blood Degradation Maintained for 28 Days Across Both Dose Cohorts Median % Change from Baseline in STAT6 Method: Flow Cytometry % STAT6 Change from Baseline • Median STAT6 degradation of 98% in blood in both dose groups after 4 KT-621 100 mg QD (n = 8) Media

  23. Slide 23: Achieved Deep STAT6 Degradation in Skin

    KT-621 Achieved Deep STAT6 Degradation in Skin Median % Change from Baseline in STAT6 Method: Targeted Mass Spec • Median STAT6 degradation of 94% in % STAT6 Change from Baseline skin in both dose groups after 4 weeks of treatment using targeted Mass Spec Median (Q1, Q3) • Deep skin degradation with

  24. Slide 24: Type 2 Biomarkers

    Type 2 Biomarkers apeutics,Inc. |KYMERA 24

  25. Slide 25: Disease-Relevant Biomarkers of Type 2 Inflammation

    Disease-Relevant Biomarkers of Type 2 Inflammation Eotaxin-3 TARC (CCL17) IgE IL-31 FeNO (CCL26) • TARC drives • Eotaxin-3 drives • IgE activates mast cells and • IL-31 is a key pruritogenic • FeNO (fractional exhaled chemotaxis of CCR4- chemotaxis of CCR3- basophils to release Type 2 cytokine produ

  26. Slide 26: Higher Baseline TARC Levels Associated with Greater TARC Reductions Across Dupilumab Studies

    Higher Baseline TARC Levels Associated with Greater TARC Reductions Across Dupilumab Studies Dupilumab data Median Median % Change from Baseline in Serum TARC Dupilumab Median Baseline Time of TARC Studies1 TARC % Change Measurement Median Baseline TARC (pg/mL) 1000 2000 3000 4000 5000 EOE POC 293 -

  27. Slide 27: Higher Baseline TARC Associated with Greater Reductions Across Dupilumab and KT-621 Studies

    Higher Baseline TARC Levels Associated with Greater TARC Reductions Across Dupilumab and KT-621 Studies KT-621 Ph1b AD 100 mg Dupilumab data KT-621 Ph1b AD 200 mg Median Median % Change from Baseline in Serum TARC Dupilumab & Median Baseline Time of TARC KT-621 Studies1,2 TARC % Change Measurement M

  28. Slide 28: Similar TARC Reductions with KT-621 and Dupilumab at Similar Baseline Levels

    Similar TARC Reductions with KT-621 and Dupilumab When Selecting for Similar Baseline TARC Levels KT-621 TARC BL < 1600 pg/mL Dupilumab data KT-621 Overall KT-621 TARC BL ≥ 1600 pg/mL Median Median % Change from Baseline in Serum TARC Dupilumab & Median Baseline Time of TARC KT-621 Studies1,2 TARC %

  29. Slide 29: Achieved Median TARC Reduction of 74% in Patients with Comparable TARC Levels

    KT-621 Achieved Median TARC Reduction of 74% in Patients with TARC Levels Comparable to Dupilumab AD Studies Stratified by Baseline TARC Stratified by Median Baseline TARC Stratified by Dose (1600 pg/mL) (800 pg/mL) Median % Change from Baseline in Median % Change from Baseline in Median % Change fr

  30. Slide 30: Achieved Median Serum Eotaxin-3 Reduction of up to 73%

    KT-621 Achieved Median Serum Eotaxin-3 Reduction of up to 73% Median % Change from Baseline in Eotaxin-3 KT-621 100 mg QD (n=7) Median % Change from Baseline KT-621 200 mg QD (n=11) in Serum Eotaxin-3 (Q1, Q3) • Rapid and robust median Eotaxin-3 reduction in both dose groups • Reduction exceeds the

  31. Slide 31: Achieved Median Serum IgE Reduction of up to 14%

    KT-621 Achieved Median Serum IgE Reduction of up to 14% Median % Change from Baseline in IgE Median % Change from Baseline KT-621 100 mg QD (n=10) in Serum Total IgE (Q1, Q3) KT-621 200 mg QD (n=12) • IgE reduction comparable to dupilumab data in AD studies at week 41 • More robust IgE reduction oft

  32. Slide 32: Achieved Robust Serum IL-31 Reduction of up to 56%

    KT-621 Achieved Robust Serum IL-31 Reduction of up to 56% Median % Change from Baseline in IL-31 KT-621 100 mg QD (n=8) Median % Change from Baseline KT-621 200 mg QD (n=8) in Serum IL-31 (Q1, Q3) • Robust reduction of pruritogenic cytokine IL-31 in both dose groups • First known demonstration of IL

  33. Slide 33: Achieved up to 33% Reduction in FeNO in AD Patients

    KT-621 Achieved up to 33% Reduction in FeNO in AD Patients Median % Change from Baseline in FeNO 40 KT-621 100 mg QD (n=10)1 KT-621 200 mg QD (n=12)2 20 Median % Change from Baseline 0 in FeNO (Q1, Q3) • Rapid and robust median FeNO -20 reduction in both dose groups -40 • First known demonstration o

  34. Slide 34: Skin Biomarker Changes

    Skin Biomarker Changes apeutics,Inc. |KYMERA 34

  35. Slide 35: Significantly Downregulated Core Type 2 Inflammation Gene Set in Skin Lesions

    KT-621 Significantly Downregulated Core Type 2 Inflammation Gene Set in Skin Lesions of AD Patients p < 0.01 KT-621 (n=18) Dupilumab2 (n=23) • Genes in signature1: • CCL26/Eotaxin-3 Signature Score • CCL17/TARC • CCL18/PARC • CCL13/MCP-4 • Changes in transcriptome comparable to published data for du

  36. Slide 36: Significantly Downregulated AD Disease-relevant Gene Set in Skin Lesions

    KT-621 Significantly Downregulated AD Disease-relevant Gene Set in Skin Lesions of AD Patients p < 0.01 KT-621 (n=18) • Genes in signature1: Dupilumab2 (n=23) • CCL26/Eotaxin-3 (Type 2) • CCL17/TARC (Type 2) • CCL18/PARC (Type 2) • CCL13/MCP-4 (Type 2) Signature Score • CXCL1/GRO-⍺ (Th17) • PI3/Pept

  37. Slide 37: Clinical Endpoints

    Clinical Endpoints apeutics, Inc. |KYMERA 37

  38. Slide 38: Achieved 63% Overall Mean Reduction in EASI

    KT-621 Achieved 63% Overall Mean Reduction in EASI Mean % Change from Baseline in EASI Mean (±SE) Percent Change from 0 KT-621 100 mg QD (n=10)1 Baseline in EASI Score KT-621 200 mg QD (n=12) • KT-621 achieved rapid and robust -20 KT-621 Overall (n=22)1 mean EASI reduction in both dose cohorts -40 •

  39. Slide 39: Achieved Consistent EASI Reduction Across All Patient Subgroups

    KT-621 Achieved Consistent EASI Reduction Across All Patient Subgroups, Regardless of Baseline TARC/EASI Mean % Change in EASI: Stratified by Baseline TARC Mean % Change in EASI: Stratified by Baseline EASI Mean (±SE) Percent Change from Mean (±SE) Percent Change from 0 0 BL TARC ≥ 1600 pg/mL (n=6)1

  40. Slide 40: Achieved Robust Clinical Improvement Across EASI-50, EASI-75, and vIGA-AD 0/1

    KT-621 Achieved Robust Clinical Improvement Across EASI-50, EASI-75, and vIGA-AD 0/1 Measures EASI-50 and EASI-75 vIGA-AD 0/1 Responders 100 KT-621 100 mg QD (n=9) 50 KT-621 200 mg QD (n=12) 83% KT-621 Overall (n=21) 80 76% 40 67% Responders (%) Responders (%) 60 30 22% 40 20 19% 33% 17% 29% 25% 20

  41. Slide 41: Achieved 48% Overall Mean Reduction in SCORAD

    KT-621 Achieved 48% Overall Mean Reduction in SCORAD Mean % Change in Total SCORAD Total SCORAD 10 Mean (±SE) Percent Change from 0 Baseline in Total SCORAD KT-621 100 mg QD (n=10)1 • SCORAD is a validated composite -10 KT-621 200 mg QD (n=12) measure of AD severity, integrating -20 KT-621 Overall (

  42. Slide 42: Achieved Robust and Consistent Reductions in Itch

    KT-621 Achieved Robust and Consistent Reductions in Itch Across Independent Clinical Measures Mean % Change in Peak Pruritus NRS Mean % Change in SCORAD Itch Mean (±SE) Percent Change from Mean (±SE) Percent Change from 20 20 Baseline in Peak Pruritus NRS 10 KT-621 100 mg QD (n=10) 10 KT-621 100 mg

  43. Slide 43: Achieved Consistent Reduction of Peak Pruritus NRS Across Subgroups

    KT-621 Achieved Consistent Reduction of Peak Pruritus NRS Across All Patient Subgroups, Regardless of Baseline TARC/EASI Mean % Change in PPNRS: Stratified by Baseline TARC Mean % Change in PPNRS: Stratified by Baseline EASI BL TARC ≥ 1600 pg/mL (n=6) BL EASI ≥ 22 (n=12) Mean (±SE) Percent Change fr

  44. Slide 44: Achieved 76% Overall Mean Reduction in SCORAD-Sleeplessness

    KT-621 Achieved 76% Overall Mean Reduction in SCORAD- Sleeplessness Mean % Change in SCORAD - Sleeplessness KT-621 100 mg QD (n=9)1 Baseline in SCORAD - Sleeplessness 20 KT-621 200 mg QD (n=11) Mean (±SE) Percent Change from 10 KT-621 Overall (n=20)1 0 -10 • SCORAD-Sleeplessness is a validated -20 m

  45. Slide 45: Achieved Robust Improvement in Patient Quality of Life (POEM)

    KT-621 Achieved Robust Improvement in Patient Quality of Life (POEM) 2 Mean Point Change in POEM POEM Responders (Improvement ≥4 Points) Baseline in POEM Score (Points) KT-621 100 mg QD (n=10) 0 KT-621 200 mg QD (n=12) Mean (±SE) Change from -2 100 KT-621 Overall (n=22) -4 MCID -6 80 75% 73% 70% -8

  46. Slide 46: Achieved Robust Improvement in Patient Quality of Life (DLQI)

    KT-621 Achieved Robust Improvement in Patient Quality of Life (DLQI) Mean Point Change in DLQI DLQI Responders (Improvement ≥ 4 points) 2 KT-621 100 mg QD (n=7) 0 100 KT-621 200 mg QD (n=11) Baseline in DLQI Score (Points) -2 KT-621 Overall (n=18) Mean (±SE) Change from -4 MCID 80 -6 64% Responders

  47. Slide 47: Example of Clinical and Biomarker Response in Patient with Severe AD and Prior Dupilumab

    Example of Clinical and Biomarker Response to KT-621 in BroADen Patient with Severe AD and Prior Dupilumab Treatment Pre and Day 29 Photos for EASI-75 Responder STAT6 Staining IHC Baseline Day 29 Baseline Day 29 % Change in EASI and Itch1 EASI SCORAD ITCH and PPNRS Percent Change from Baseline in Pe

  48. Slide 48: Achieved Robust Impact on FeNO and ACQ-5 in AD Patients with Comorbid Asthma

    KT-621 Achieved Robust Impact on FeNO and ACQ-5 in AD Patients with Comorbid Asthma ACQ-5 Responders Median % Change from Baseline in FeNO (n=4) Mean Point Change in ACQ-5 (n=4) (Improvement ≥ 0.5, n=4) Baseline in ACQ-5 Score (Points) 100 Median (Q1, Q3) Percent Change from 0.0 60 Mean (±SE) Change

  49. Slide 49: Achieved Robust Impact on TNSS and RQLQ in AD Patients with Allergic Rhinitis

    KT-621 Achieved Robust Impact on TNSS and RQLQ in AD Patients with Comorbid Allergic Rhinitis Mean Point Change TNSS Responders Mean Point Change RQLQ Responders in TNSS (n=7)1 (Improvement ≥ 0.55, n=7)1 in RQLQ (n=6)2 (Improvement ≥ 0.5, n=6)2 Baseline in RQLQ Score (Points) 100 100 Baseline in TNS

  50. Slide 50: Demonstrated Robust Improvements Across All Key Clinical Efficacy Endpoints

    KT-621 Demonstrated Robust Improvements Across All Key Clinical Efficacy Endpoints Results in Line With or in Some Cases Numerically Exceeded Published Data for Dupilumab at Week 4 KT-621 100 mg QD KT-621 200 mg QD KT-621 Overall Dupilumab 300 mg Q2W Day 29 (n=10) Day 29 (n=12) Day 29 (n=22) D28 Ph3

  51. Slide 51: Safety

    Safety apeutics,Inc. |KYMERA 51

  52. Slide 52: BroADen Phase 1b Safety Summary

    KT-621 BroADen Phase 1b Safety Summary • Well-tolerated with favorable safety at both 100 mg and 200 mg with a profile similar to what was observed in the Phase 1a healthy volunteer trial • No SAEs or Severe AEs • No dose-dependent pattern in the TEAEs • No related TEAEs or TEAEs leading to disconti

  53. Slide 53: Positive BroADen Phase 1b Data Underscore Significant Potential of KT-621

    Positive BroADen Phase 1b Data Underscore Significant Potential of KT- 621 in AD and Other Type 2 Allergic Diseases ü Once-a-day, Oral Dosing of KT-621 Achieved Deep STAT6 Degradation in Blood and Skin with Strong Translation from Healthy Volunteers ü Strong Effect on Disease-relevant Type 2 Inflamm

  54. Slide 54: BroADen Phase 1b Summary

    BroADen Phase 1b Summary Nello Mainolfi, PhD Founder, President and CEO 54

  55. Slide 55: Kymera Completes the Clinical Translation of STAT6 Degradation

    Kymera Completes the Clinical Translation of STAT6 Degradation Potential for Study Data “Dupilumab-in-a-pill” Profile Human Genetics STAT6 is a key driver of Type 2 inflammation ✓ Preclinical KT-621 degraded STAT6 and blocked IL-4/13 Type 2-driven inflammation in vitro/in vivo as effectively as dupi

  56. Slide 56: Summary & Upcoming Milestones

    BroADen Phase 1b Data Achieved Objectives and Underscore Significant Potential of KT-621 Summary & Upcoming Milestones • KT-621 BroADen AD patient data represent strong translation from Phase 1a healthy volunteer trial results • Results further validate KT-621’s oral, biologics-like profile with pot

  57. Slide 57: Thank You Q&A

    Thank You Q&A To ask a question, raise your virtual hand

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