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Pipeline (5 active programs)

Technology platforms

Discontinued (2)

• KT-474 — Hidradenitis Suppurativa · Sanofi stopped development of KT-474 following decision to advance KT-485/SAR447971
• KT-474 — Atopic Dermatitis · Sanofi stopped development of KT-474 after exercising full participation election to advance KT-485/SAR447971

Capital (as filed)

Cash

$373M cash and cash equivalents · Sep 30, 2026 (10-Q)

Short-term investments

$598M Sep 30, 2026

Long-term investments

$675M Sep 30, 2026

Operating cash flow

−$77.9M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$1.65B cash, runway 2029 per the update of Oct 29, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (10)

• 2026-10-30 UPDATE: Kymera Therapeutics (KYMR) - The Second Binary Lands Clean (and a Quiet $220M Raise) 🔒 Paid
• 2026-08-06 UPDATE: Kymera Therapeutics (KYMR) - Two Binaries Now, Not One 🔒 Paid
• 2026-07-28 UPDATE: Kymera Therapeutics (KYMR) - The CMO Swap Five Months Before the Binary 🔒 Paid
• 2026-07-07 UPDATE: Kymera Therapeutics (KYMR) - They Hired the Person Who Built Dupixent 🔒 Paid
• 2026-06-30 UPDATE: Kymera Therapeutics (KYMR) - BVF Took the Trim I Flagged 🔒 Paid
• 2026-06-25 UPDATE: Kymera Therapeutics (KYMR) - The Binary Just Got Pulled Six Months Forward 🔒 Paid
• 2026-06-12 UPDATE: Kymera Therapeutics (KYMR) - The Japanese Bridge and a 12% Pop
• 2026-06-09 UPDATE: Kymera Therapeutics (KYMR) - The Sanofi Shield Cashes Another Check
• 2026-04-13 UPDATE: Kymera Therapeutics (KYMR) - Cashes a $45M Lottery Ticket and Greases the Regulatory Skids 🔒 Paid
• 2026-04-09 Kymera Therapeutics (KYMR) - Scientific Deep Dive on KT-621 and Pipeline Products 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (10 calls)

Every verdict Biotech Distilled has published on Kymera Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-04-09 Buy core Kymera Therapeutics (KYMR) - Scientific Deep Dive on KT-621 and Pipeline Products KT-621's compelling Phase 1b data phenocopying Dupixent, a fortress $1.6B cash runway removing near-term dilution risk, and a massive TAM for an oral STAT6 degrader justify a high-conviction buy ahead of 2027 Phase 2b catalysts.
2. 2026-04-13 Buy core UPDATE: Kymera Therapeutics (KYMR) - Cashes a $45M Lottery Ticket and Greases the Regulatory Skids Gilead's $45M CDK2 milestone and FDA Fast Track for KT-621 in asthma modestly de-risk the thesis without changing the core BUY conviction ahead of 2027 Phase 2b readouts.
3. 2026-06-09 Buy core UPDATE: Kymera Therapeutics (KYMR) - The Sanofi Shield Cashes Another Check Sanofi's $20M IRAK4 first-dosing milestone further fortifies the balance sheet and validates the platform; the 13% pullback from April highs improves the entry point without any thesis breakage.
4. 2026-06-12 Buy core UPDATE: Kymera Therapeutics (KYMR) - The Japanese Bridge and a 12% Pop Japanese bridging Phase 1 confirms ≥98% STAT6 degradation across a new population, reinforcing translation consistency ahead of BROADEN2, though the 12% pop is partly technical rather than new clinical de-risking.
5. 2026-06-25 Buy core UPDATE: Kymera Therapeutics (KYMR) - The Binary Just Got Pulled Six Months Forward BROADEN2 enrollment completing six months early pulls the AD binary to year-end 2026, compressing the risk-adjusted IRR positively, but the 35% run tightens asymmetry and makes trimming into strength defensible for existing holders.
6. 2026-06-30 Buy core UPDATE: Kymera Therapeutics (KYMR) - BVF Took the Trim I Flagged BVF's 1.63M-share trim at $106.50 validates the June 25 trim call; the science and catalyst path are unchanged, but discipline matters more at $109 than it did at $76 with the binary now six months away.
7. 2026-07-07 Buy core UPDATE: Kymera Therapeutics (KYMR) - They Hired the Person Who Built Dupixent Hiring the former Dupixent development head as SVP for KT-621 is an on-thesis operating signal suggesting Phase 3 and launch readiness, though the +9% pop on an org-chart move demands more discipline at $119 than at $86.
8. 2026-07-28 Buy core UPDATE: Kymera Therapeutics (KYMR) - The CMO Swap Five Months Before the Binary CMO Gollob's retirement looks like a deliberate stage-gate upgrade to a late-stage registration operator rather than a red flag, with the advisory bridge through December substantially undercutting the 'he saw something' narrative; thesis intact heading into year-end BROADEN2.
9. 2026-08-06 Buy core UPDATE: Kymera Therapeutics (KYMR) - Two Binaries Now, Not One Q2 confirms the fortress balance sheet ($1.505B into 2029) and KT-579's Phase 1 tightening to 4Q26 with a lupus POC queued adds a second near-term binary, thickening catalyst cover ahead of the year-end BROADEN2 readout.
10. 2026-10-30 Buy core UPDATE: Kymera Therapeutics (KYMR) - The Second Binary Lands Clean (and a Quiet $220M Raise) KT-579 Phase 1 cleared with ≥90% IRF5 degradation and placebo-like safety, validating the platform with a second human data point; BROADEN2 topline is ~two months out and remains the entire ballgame, though a previously undisclosed $220M ATM raise warrants acknowledgment.

• Long call · opened Apr 9, 2026 at $87.35 · +50.8% vs XBI +15.5% (Nov 6, 2026)

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (2 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

• 2026-08-05 8-K in filings ↓

  • “The earlier than expected completion of enrollment enabled the Company to accelerate its expected topline data readout by six months to year-end 2026, earlier than prior guidance to share data by mid-2027.”

    matched to KT-621 · topline data · read as mid-2027
• 2026-08-05 8-K in filings ↓

  • “The earlier than expected completion of enrollment enabled the Company to accelerate its expected topline data readout by six months to year-end 2026, earlier than prior guidance to share data by mid-2027.”

    matched to KT-621 · topline data · read as mid-2027

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (32)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 6, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Oct 29, 2026ReleaseKT-579 (IRF5) Phase 1 healthy volunteer data demonstrated deep, sustained IRF5 degradation, robust modulation of disease-relevant biomarkers and a favorable safety profile KT-579 LUMORA Phase 1b trial→ BD updateSummary on the 8-K
• Oct 29, 20268-KCurrent report: results of operations · EX-99.1→ BD updateThe "high-risk moonshot" just earned its stripes: KT-579's Phase 1 data shows ≥90% IRF5 degradation in blood and skin, deep cytokine suppression across three inflammatory pathways, and clean safety — while BROADEN2's last patient has completed their final visit, setting up a year-end 2026 binary for KT-621.BD extracted 2 program updates from this document → KYMR pipeline
• Oct 29, 202610-QQuarterly report→ BD updateSummary on the 8-K
• Oct 28, 2026ReleaseWATERTOWN, Mass., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicinesThe KT-579 Phase 1 healthy volunteer data — the IRF5 readout I flagged as a "near-term, dated event" in the August update — drops tomorrow morning (October 29) alongside Q3 earnings. Here's what to watch for and why it matters beyond the BROADEN2 binary.BD extracted 1 program update from this document → KYMR pipeline
• Oct 22, 2026ReleaseWATERTOWN, Mass., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines
• Sep 2, 2026ReleaseWATERTOWN, Mass., Sept. 02, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicine
• Sep 1, 2026ReleaseEnrollment completed in KT-621 BROADEN2 Phase 2b AD trial with topline data expected by year-end 2026; Phase 3 trials in AD planned to initiate by mid-2027 KT-621 BREADTH Phase 2b asthma trial ongoingBD extracted 1 program update from this document → KYMR pipeline
• Aug 5, 2026ReleaseEnrollment completed in KT-621 (STAT6) BROADEN2 Phase 2b AD trial nearly six months ahead of anticipated timeline, with data expected by year-end 2026 KT-621 Phase 3 trials in AD planned to initiate bBD extracted 1 program update from this document → KYMR pipeline
• Aug 5, 20268-KCurrent report: results of operations · EX-99.1
• Aug 5, 202610-QQuarterly report
• Jul 28, 2026ReleaseWATERTOWN, Mass., July 28, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines
• Jul 27, 2026ReleaseDr. Rooney, former immunology leader at Johnson & Johnson, will lead clinical development strategy across Kymera’s industry-leading oral immunology portfolio Jared Gollob, MD, will retire from his rol
• Jul 27, 20268-KCurrent report: officer / director change, Reg FD disclosure · EX-99.1
• Jul 7, 2026ReleaseDr. Laws, former immunology leader at Sanofi, will oversee global development of Kymera’s KT-621 program KT-621 parallel Phase 2b trials advancing in AD and asthma, with data expected by year-end 2026
• Jun 26, 2026SCHEDULE 13D/A13D amendment
• Jun 25, 2026ReleaseBROADEN2 enrollment completed nearly six months ahead of anticipated timelines KT-621 Phase 3 trials in AD planned to initiate by mid-2027 KT-621 BREADTH Phase 2b asthma trial ongoing, with data expecBD extracted 1 program update from this document → KYMR pipeline
• Jun 25, 20268-KCurrent report: Reg FD disclosure, other events · EX-99.1
• Jun 24, 2026ReleaseBruce Booth, DPhil, Co-Founder and Chairman, to remain an Independent Director WATERTOWN, Mass., June 24, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmac
• Jun 24, 20268-KCurrent report: shareholder vote
• Jun 12, 2026ReleaseOral presentation at JDA features new data from the KT-621 Phase 1 study in healthy Japanese adults, with safety and PK/PD results consistent with previously reported KT-621 clinical studies KT-621 pBD extracted 1 program update from this document → KYMR pipeline
• Jun 9, 2026ReleaseFirst-in-human Phase 1 trial evaluating KT-485 (SAR447971) initiated, triggering a $20 million milestone payment from Sanofi WATERTOWN, Mass., June 09, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, In
• Jun 8, 2026ReleasePenny Carlson will oversee global clinical development operations across Kymera’s oral immunology portfolio Jeremy Chadwick will retire from his role as Chief Operating Officer WATERTOWN, Mass., June
• Jun 8, 2026ReleaseKT-579 demonstrated consistent disease-modifying activity comparable or superior to approved and clinically active therapies in multiple preclinical lupus models KT-579 Phase 1 healthy volunteer tria
• Jun 8, 20268-KCurrent report: officer / director change
• May 27, 2026ReleaseWATERTOWN, Mass., May 27, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines
• May 15, 2026ReleaseLate-breaking presentation at SID and featured presentation at the ATS Respiratory Innovation Summit highlight KT-621 BroADen Phase 1b clinical data and potential across Type 2 inflammatory diseases K
• May 6, 2026ReleaseWATERTOWN, Mass., May 06, 2026 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines
• Apr 30, 20268-KCurrent report: results of operations · EX-99.1
• Apr 30, 202610-QQuarterly report
• Apr 29, 2026DEFA14AProxy soliciting material
• Apr 29, 2026DEF 14AProxy statement
• Mar 27, 20268-KCurrent report: charter / bylaws / fiscal year