Kymera Therapeutics, Inc.
KYMR evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · KYMR
Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degradation (TPD) medicines, with a lead STAT6 program (KT-621) in Phase 2 for immunology indications and a cash runway into 2029.
Key risk: No approved products
BioSniper Score
Based on 6 of 6 signals
Market Cap
$9.82B
Cash Runway
37.5 moLead Asset
KT-253 (Phase 1)
Next Catalyst
Phase2_Topline · Dec 31, 2026Financial data as of Jun 30, 2026.
Tracking 5 pipeline candidates · 5 clinical trials · 3 catalysts for Kymera Therapeutics, Inc..
Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degradation (TPD) medicines, with a lead STAT6 program (KT-621) in Phase 2 for immunology indications and a cash runway into 2029.
- Kymera is a clinical-stage biopharmaceutical company focused on developing oral small-molecule targeted protein degraders (TPD) for diseases with high unmet medical need [sec · filed 2026-04-29].
- Lead candidate KT-621 (STAT6 program) commenced a Phase 1 clinical trial in healthy volunteers in October 2024 [sec · filed 2025-04-29].
- As of June 30, 2026, the company reported cash & equivalents of $124.5M, total revenue of $65.0M, and a net loss of -$61.2M [sec].
- Accumulated deficit was $1,196 million as of June 30, 2026, up from $1,066 million at December 31, 2025 [sec_mda · as of 2026-08-05].
- Management believes existing cash, cash equivalents and marketable securities of $1,546 million as of March 31, 2026 will fund operations into 2029 [sec_mda · as of 2026-04-30].
What works
- Kymera's TPD platform targets previously undruggable proteins, addressing high-impact targets that drive serious diseases [sec_mda · as of 2026-08-05].
- The company has a robust pipeline with two immunology programs (STAT6 and TYK2) and a lead candidate (KT-621) already in Phase 1 [sec · filed 2025-04-29].
- Cash runway is projected into 2029, providing a long development horizon without near-term financing pressure [sec_mda · as of 2026-04-30].
What to weigh
- Kymera has no approved products and has never generated revenue from product sales; it relies on external financing to fund operations [sec_mda · as of 2025-11-04].
- Accumulated deficit has grown rapidly, reaching $1,196 million as of June 30, 2026, reflecting heavy R&D spending [sec_mda · as of 2026-08-05].
- The company faces substantial clinical and regulatory risks, including potential delays or failures in obtaining marketing approval [sec_mda · as of 2025-05-09].
From the filings
Quoted directly from source documents.
Kymera is a clinical-stage biopharmaceutical company developing oral TPD medicines.
“We are a clinical-stage biopharmaceutical company dedicated to reinventing the treatment of human disease through the development of innovative, highly differentiated oral medicines”
SEC filings · April 29, 2026
KT-621 (STAT6 program) entered Phase 1 in October 2024.
“Our lead molecule in our STAT6 program,KT-621,commenced a Phase 1 clinical trial in healthy volunteers in October 2024”
SEC filings · April 29, 2025
Cash runway is expected into 2029.
“We believe the existing cash, cash equivalents and marketable securities of $1,546 million as of March 31, 2026, will enable us to fund our operating expenses and capital expenditure requirements into 2029.”
SEC MD&A · April 30, 2026
Accumulated deficit was $1,196 million as of June 30, 2026.
“as of June 30, 2026 and December 31, 2025, we had an accumulated deficit of $1,196 million and $1,066 million, respectively.”
SEC MD&A · August 5, 2026
Catalyst timeline
- 2026-12-31 · Phase2_Topline · kt-621 — Phase 2 Readout: kt-621 — First Phase 2 topline data for lead candidate KT-621; will inform efficacy and safety in immunology indication.
- 2027-06-30 · Phase2_Topline · kt-621 — Phase 2 Readout: kt-621 — Second Phase 2 readout for KT-621; may provide additional dose-ranging or longer-term data.
- 2027-12-31 · Phase2_Topline · kt-621 — Phase 2 Readout: kt-621 — Third Phase 2 readout for KT-621; could support registration or further development decisions.
Risks & what to watch (4)›
Key risks
- No approved products — Kymera has no marketed drugs and may never generate product revenue; it depends on external financing [sec_mda · as of 2025-11-04].
- Clinical development risk — KT-621 and other candidates may fail in trials or face regulatory delays, which could materially harm the business [sec_mda · as of 2025-05-09].
- Rising accumulated deficit — Accumulated deficit grew to $1,196M as of June 30, 2026, reflecting sustained high R&D spending [sec_mda · as of 2026-08-05].
- Need for additional capital — Despite runway into 2029, the company expects to require more funding to complete development and commercialization [sec_mda · as of 2026-04-30].
What to watch
- Phase 2 topline data for KT-621 expected by end of 2026 [catalyst].
- Further Phase 2 readouts for KT-621 in mid-2027 and late-2027 [catalyst].
- Progress of the TYK2 program (KT-295) and any IND filings for new candidates [sec · filed 2025-04-29].
- Cash burn rate and any future equity or debt financings [sec_mda · as of 2026-04-30].
Sources: SEC filings · SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
37.5 months
D/E 0.09 · 0% dilution
Lead: Phase 2
5 candidates
3 upcoming, next in ~123d
0 buys · 201 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
254
Total value held
$6.05B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 11,699,950 | $974.5M |
| baker bros. advisors lp | 8,657,242 | $721.1M |
| vanguard capital management llc | 5,760,648 | $479.8M |
| bvf inc/il | 5,502,710 | $458.3M |
| blackrock, inc. | 5,060,876 | $421.5M |
| wellington management group llp | 3,889,687 | $324.0M |
| vanguard portfolio management llc | 2,874,056 | $239.4M |
| state street corp | 2,389,767 | $199.0M |
| capital research global investors | 1,673,275 | $139.4M |
| geode capital management, llc | 1,645,350 | $137.1M |
Showing top 10 of 254 institutional holders of Kymera Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 15.3%
- Days to cover
- 14.5
- Shares short
- 10,402,722
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
KYMR short interestGovernance
Frequently asked questions
What is the AI investment thesis for Kymera Therapeutics, Inc.?
Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degradation (TPD) medicines, with a lead STAT6 program (KT-621) in Phase 2 for immunology indications and a cash runway into 2029.
What is Kymera Therapeutics, Inc.'s lead drug candidate?
Kymera Therapeutics, Inc.'s most advanced tracked candidate is KT-253 (Phase 1) for Treatment of relapsed or refractory high grade myeloid malignancies, acute lymphocytic leukemia (ALL), lymphomas, and solid tumors; orphan designation for acute myeloid leukemia.
What is Kymera Therapeutics, Inc.'s next catalyst?
Kymera Therapeutics, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: kt-621" — expected December 31, 2026.
Who is the CEO of Kymera Therapeutics, Inc.?
Dr. Nello Mainolfi M.D., Ph.D. is the chief executive officer of Kymera Therapeutics, Inc. (KYMR).
Where is Kymera Therapeutics, Inc. headquartered?
Kymera Therapeutics, Inc. (KYMR) is headquartered in Watertown, MA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.