Kymera Therapeutics (KYMR) Q3 Earnings call transcript Oct 31, 2024
2min read In a recent earnings call, Kymera Therapeutics shared significant updates on their immunology pipeline, highlighting their first-in-class oral STAT6 degrader, KT-621, and their first-in-class IRAK4 degrader, KT-474. The company also discussed their plans for advancing their TYK2 program and their strategic focus on immunology.
STAT6 and KT-621: A Transformative Treatment for Th2 Inflammation
The most notable update from the call was the start of the Phase 1 study for KT-621, the first STAT6 degrader to enter clinical development. With the potential to have a dupilumab-like profile in a daily oral pill, KT-621 could transform treatment paradigms for diseases associated with Th2 inflammation, such as atopic dermatitis, asthma, COPD, and eosinophilic esophagitis. The company aims to expand access to millions of patients currently waiting for a convenient, safe, and effective oral pill that doesn't require needles, refrigeration, syringes, or frequent doctor visits.
IRAK4 and KT-474: Accelerating the Path to Registration
Kymera also highlighted the progress of their IRAK4 degrader, KT-474, which is the first program to transition from proof-of-concept Phase 2 studies to fully powered Phase 2b studies. The program is transitioning from Sanofi, with a focus on accelerating the path to registrational Phase 3 studies upon completion of the ongoing trials.
TYK2 and KT-295: A New Lead Clinical Candidate
The company announced that they have decided to advance KT-295, a new compound with an even more compelling profile than KT-294, as their lead clinical candidate for TYK2. This decision is expected to have minimal impact on the previously stated development timelines for the Phase 1 trial, which is set to start in the first half of 2025.
Strategic Focus on Immunology
With the increased focus on immunology, Kymera is now positioned to develop the potential best-in-industry portfolio of oral immunology assets, with opportunities to impact millions of patients. The company's internal resources, both capital and people, are being strategically allocated to this area, with a goal to create outsized value.
Financial Highlights
In terms of financials, Kymera recognized $3.7 million in revenue for the quarter, all attributable to Sanofi and the collaboration. The company ended the quarter with $911 million of cash on their balance sheet, providing a cash runway to mid-2027. The third quarter financial results showed a combined spending of R&D and SG&A of $61 million, down about 2% sequentially from the previous quarter.
Looking Ahead
The next 6 to 12 months are expected to provide multiple value-creating catalysts for Kymera, with exciting updates on KT-621, TYK2, and other pipeline programs. The company is well-resourced to advance their best-in-industry pipeline of degrader therapeutics and looks forward to keeping stakeholders updated on their progress.
Overall, Kymera Therapeutics' earnings call underscores their commitment to advancing their immunology pipeline and transforming the treatment landscape for diseases associated with Th2 inflammation. With a robust pipeline and strategic focus, the company is poised for significant growth and impact in the biotech industry.