Kymera Therapeutics, a biopharmaceutical company, presented its strategic focus on oral degrader pipeline at the Morgan Stanley 24th Annual Global Healthcare Conference. The company, founded in May 2016, has narrowed its attention to immunology over the past six years.
Kymera Therapeutics' stock price has surged 142% over the past year to $114.63, with a market capitalization of $9.5 billion. The stock has a beta of 1.96, and Wall Street analysts have price targets ranging from $111 to $180.
The company's pipeline includes KT-621, a wholly owned oral STAT6 degrader, and KT-579, a wholly owned oral IRF5 degrader. KT-621 is targeted at atopic dermatitis, asthma, chronic obstructive pulmonary disease (COPD), eosinophilic esophagitis, chronic rhinosinusitis with nasal polyps, and chronic spontaneous urticaria. KT-579 is targeted at lupus and other autoimmune conditions.
Kymera Therapeutics has collaborations with Sanofi, Gilead, AstraZeneca, and AbbVie. The company's KT-485, a second-generation IRAK4 degrader, is in Phase I testing in partnership with Sanofi.
The BROADEN1 study, a Phase I-B study of KT-621, evaluated 22 patients with moderate to severe atopic dermatitis. The study demonstrated near-complete STAT6 degradation in blood and tissue at most doses above 1 milligram daily. The BROADEN2 study, a Phase IIb study of KT-621, is expected to read out by the end of 2024. The company expects to initiate a Phase III program for atopic dermatitis in 2025.
Kymera Therapeutics' KT-579 Phase I healthy-volunteer data is expected in the fourth quarter of 2024. The BREADTH asthma study data is due in 2027.
The company's pipeline is focused on oral degrader therapies, which target the pathway of Dupixent, a reference drug with annual sales of about $25 billion. Only about 20% to 25% of the proteome has been drugged so far.
Kymera Therapeutics' CEO, Nello Cristianini, and CMO, Terence, presented the company's pipeline and expected milestones at the Morgan Stanley conference.
