Kymera Therapeutics Q1 2026 Financial Results and Pipeline Update

Kymera Therapeutics, Inc. reported financial results for the first quarter ended March 31, 2026, and provided a comprehensive business update. The company ended the quarter with a strong cash position of $1.55 billion, which is expected to fund operations into 2029. Collaboration revenue increased to $34.4 million, primarily driven by the Gilead partnership. Net loss for the quarter was $69.2 million. Key clinical updates include the ongoing Phase 2b BROADEN2 trial for KT-621 in atopic dermatitis and the BREADTH trial in asthma, with data readouts expected in mid-2027 and late 2027, respectively. The FDA granted Fast Track designation to KT-621 for moderate to severe asthma. Additionally, Kymera's IRF5 degrader, KT-579, is currently in a Phase 1 healthy volunteer trial with data anticipated in the second half of 2026. On the partnership front, Gilead exercised its option to exclusively license KT-200, an oral CDK2 molecular glue degrader, triggering a $45 million milestone payment to Kymera. Sanofi and Kymera also expect clinical entry for their IRAK4 degrader, KT-485, in 2026.