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Kymera Q3 net loss widens as R&D costs rise

By Reuters News


Overview

  • US biopharmaceutical company's Q3 net loss widened yr/yr, with no collaboration revenue

  • Operating expenses rose sharply, driven by higher R&D investment in STAT6 and other programs

  • Company ended Q3 with $1.6 bln in cash, expects runway into 2029


Outlook

  • Kymera expects to report topline data from KT-621 BROADEN2 Phase 2b AD trial by year-end 2026

  • Company plans to initiate first Phase 3 atopic dermatitis trial by mid-2027

  • Topline data from KT-621 BREADTH Phase 2b asthma trial expected in late 2027


Result Drivers

  • R&D SPENDING - Higher R&D expenses driven by increased investment in STAT6 program, platform and discovery programs

  • REVENUE DECLINE - Absence of collaboration revenue after prior-year contributions from Gilead partnership

  • ADMINISTRATIVE COSTS - Higher legal, professional, and personnel costs to support company growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$1.32

Q3 Net Loss

$132 mln

Q3 Operating Expenses

$147.23 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Kymera Therapeutics, Inc. is $139.50, about 13.9% above its October 28 closing price of $122.51


Reuters Recommended Reads

  • Oct 28 - Geron discontinues late-stage trial of blood cancer drug, shares plunge

  • Oct 28 - Lilly's retatrutide outshines Ozempic on weight loss, blood sugar control in trial

  • Oct 28 - Viking Therapeutics posts bigger-than-expected Q3 loss as costs rise


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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