Kymera Q2 net loss $76.6M; cash ~$1B; KT-621 Phase 1 data positive; Gilead CDK2 deal up to $750M

Kymera Therapeutics, Inc.

2025-Q2 EPS reported -$1.77 revenue$33,576,000

Net loss widened to $76.6M in Q2 2025 ($42.1M Q2 2024); R&D spend rose to $78.4M from $59.2M.
Cash ~$1B as of July 31, 2025 (including $250M equity offering and Gilead upfront); runway into H2 2028.
KT-621 Phase 1 healthy volunteer: deep STAT6 degradation, safety undifferentiated from placebo; Phase 1b AD data expected 4Q25; Phase 2b AD/asthma start 4Q25/1Q26.
Gilead partnership for CDK2 molecular glue: up to $750M total payments including up to $85M upfront/option; Kymera leads research.
Sanofi to advance KT-485 (IRAK4) into Phase 1 in 2026; $20M preclinical milestone achieved.

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