Q2 25 EPS
$-0.95
MISS 19.12%
Est. $-0.80
Q2 25 Revenue
$11.5M
MISS 52.51%
Est. $24.2M
vs S&P Since Q2 25
+178.0%
BEATING MARKET
KYMR +196.4% vs S&P +18.4%
Market Reaction
Did KYMR Beat Earnings? Q2 2025 Results
Kymera Therapeutics delivered a difficult second quarter, missing on both the top and bottom lines as accelerating pipeline investment weighed heavily on results. The clinical-stage biotech posted a net loss of $0.95 per share, falling short of the $… Read more Kymera Therapeutics delivered a difficult second quarter, missing on both the top and bottom lines as accelerating pipeline investment weighed heavily on results. The clinical-stage biotech posted a net loss of $0.95 per share, falling short of the $0.80 consensus estimate by 19.12%, while revenue collapsed 55.3% year-over-year to $11.48 million, a 52.51% shortfall against the $24.16 million analysts had anticipated. The revenue drop was largely mechanical: Q2 2025 captured the final recognition of deferred revenue from the Sanofi collaboration, leaving no recurring base to offset the quarter's elevated spending. R&D expenses climbed to $78.39 million from $59.20 million a year ago, reflecting intensified investment in lead STAT6 degrader KT-621, which posted compelling Phase 1 healthy volunteer data showing complete STAT6 degradation and Th2 biomarker reductions comparable to dupilumab. With a $750 million Gilead partnership signed and roughly $1 billion in cash as of late July, Kymera expects its runway to extend into the second half of 2028, well ahead of Phase 1b atopic dermatitis data anticipated in Q4 2025.
Key Takeaways
- • Recognition of all remaining Sanofi collaboration deferred revenue in Q2 2025
- • Increased R&D spending driven by STAT6 program investment, platform and discovery programs
- • $20 million Sanofi milestone achieved related to KT-485 preclinical activities
KYMR YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
KYMR Revenue by Segment
With YoY comparisons, source: SEC Filings
“The first half of this year has been rich in data and milestones that build upon our scientific achievements and further validate the potential impact of our industry leading oral immunology pipeline. This includes the exceptional data from the healthy volunteer trial for KT-621, our once-a-day oral STAT6 degrader, which exceeded expectations across every measure showing robust target and pathway engagement, as well as safety undifferentiated from placebo.”
— Nello Mainolfi, Q2 2025 Earnings Press Release
KYMR Earnings Trends
KYMR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KYMR EPS Trend
Earnings per share: estimate vs actual
KYMR Revenue Trend
Quarterly revenue: estimate vs actual
KYMR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.85 | $-0.71 | +16.07% | $34.4M | +317.57% |
| Q4 25 MISS FY | $-0.79 | $-0.97 | -23.10% | $2.9M | -80.61% |
| FY Full Year | $-3.47 | $-3.69 | -6.46% | $39.2M | -26.90% |
| Q3 25 MISS | $-0.79 | $-0.94 | -19.50% | $2.8M | -88.06% |
| Q2 25 MISS | $-0.80 | $-0.95 | -19.12% | $11.5M | -52.51% |
| Q1 25 BEAT | $-0.91 | $-0.82 | +9.90% | $22.1M | +105.88% |