Companies /Healthcare

Kymera Therapeutics Inc

NASDAQ: KYMR Biotechnology
$120.23
▼ $5.32 (−4.24%) today
Markets closed · 10:48pm ET

Q2 2025 Earnings

Reported Aug 11, 2025, 7:10am ET · SEC source
$-0.95
Miss −19.12%
EPS · est. $-0.80
$11.5M
Miss −52.51%
Revenue · est. $24.2M
+19.2%
Beating market
KYMR vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Aug 11Aug 12report 7:10am ETearnings+0.6%−3.4%
−6%−3%0Aug 11Aug 12earnings+0.6%−3.4%
KYMR −3.4%S&P 500 +0.6%
−6%−3%0Aug 11Aug 12report 7:10am ETearnings+0.7%−3.4%
−6%−3%0Aug 11Aug 12earnings+0.7%−3.4%
KYMR −3.4%NASDAQ +0.7%
−5%0+5%Aug 11Aug 18report 7:10am ETearnings+0.8%+7.4%
−5%0+5%Aug 11Aug 18earnings+0.8%+7.4%
KYMR +7.4%S&P 500 +0.8%
−5%0+5%Aug 11Aug 18report 7:10am ETearnings+0.3%+7.4%
−5%0+5%Aug 11Aug 18earnings+0.3%+7.4%
KYMR +7.4%NASDAQ +0.3%
−7.24%
Day of report
+5.81%
Next session
+15.76%
One week
+22.61%
30 days

S&P 500 over the same 30 days: +3.41%.

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 $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

“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.”

Kymera Therapeutics CEO, on the earnings call

Forward Guidance & Outlook

Kymera expects KT-621 BroADen Phase 1b data in atopic dermatitis patients in Q4 2025. Phase 2b studies in AD and asthma are planned to initiate in Q4 2025 and Q1 2026, respectively. KT-579 IND-enabling studies are ongoing with Phase 1 clinical trial entry expected in early 2026. Sanofi is expected to advance KT-485 into Phase 1 testing next year. The Gilead upfront payment has been recorded as deferred revenue and will be recognized over the research term. With approximately $1 billion in cash as of July 31, 2025, the company expects a cash runway into the second half of 2028, beyond multiple clinical inflection points.

KYMR YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$-400,000,000$-200,000,000$0$25.7M$11.5MRevenue$-248,989,988$-84,557,000Operating Income$-429,210,084$-76,614,000Net Income
$-400,000,000$-200,000,000$0RevenueOperating IncomeNet Income

KYMR Revenue by Segment

Sanofi Collaboration$11.5M
Gilead Sciences Collaboration

Figures from SEC filings and company reports. Not investment advice.