Companies /Healthcare

Kymera Therapeutics Inc

NASDAQ: KYMR Biotechnology
$120.23
▼ $5.32 (−4.24%) today
Markets closed · 1:09am ET

Q3 2025 Earnings

Reported Nov 4, 2025, 7:10am ET · SEC source
$-0.94
Miss −19.50%
EPS · est. $-0.79
$2.8M
Miss −88.06%
Revenue · est. $23.1M
+9.7%
Beating market
KYMR vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%Nov 3Nov 11report 7:10am ETearnings−0.1%+6.4%
−4%0+4%Nov 3Nov 11earnings−0.1%+6.4%
KYMR +6.4%S&P 500 −0.1%
−4%0+4%Nov 3Nov 11report 7:10am ETearnings−1.7%+6.4%
−4%0+4%Nov 3Nov 11earnings−1.7%+6.4%
KYMR +6.4%NASDAQ −1.7%
+0.32%
Day of report
−0.03%
Next session
+5.78%
One week
+11.20%
30 days

S&P 500 over the same 30 days: +1.55%.

Did KYMR Beat Earnings? Q3 2025 Results

Kymera Therapeutics delivered a sharply disappointing third quarter, missing on both the top and bottom lines as the clinical-stage biotech continued to funnel capital into its targeted protein degradation pipeline. The company posted a loss of $0.94 per share, coming in 19.50% below the consensus estimate of $0.79, while collaboration revenue of $2.76 million fell 88.06% short of the $23.14 million Wall Street had anticipated and declined 26.1% from the year-ago period. The primary culprit was a surge in R&D spending to $74.09 million, reflecting intensified investment in KT-621, the company's first-in-class STAT6 degrader, which has completed enrollment in its BroADen Phase 1b atopic dermatitis trial with full data expected in December 2025. Despite the shortfalls, Kymera's $978.74 million cash position provides runway into the second half of 2028, supporting parallel Phase 2b programs in atopic dermatitis and asthma alongside the anticipated Phase 1 entry for its IRF5 degrader KT-579 in early 2026, keeping the longer-term pipeline story largely intact even as quarterly results disappointed.

Key Takeaways
  • Increased R&D investment in STAT6 program, platform, and discovery programs
  • Collaboration revenue from Gilead Sciences partnership
  • Interest income of $10.4 million partially offsetting operating losses

“Our team has made impressive research, clinical, and regulatory progress this quarter to advance our first-in-class oral degrader medicines, and we look forward to several important milestones through the fourth quarter and early next year. We've completed patient enrollment and dosing in the KT-621 BroADen Phase 1b trial in AD, marking a significant moment in the industry as the first STAT6-directed agent in patients, and we plan to share the full data set next month. Additionally, we've initiated the KT-621 BROADEN2 Phase 2b trial in AD and are on track to start BREADTH, the Phase 2b asthma study, in the first quarter of 2026, positioning us on an accelerated development path to multiple registrational studies across areas of significant unmet need.”

Kymera Therapeutics CEO, on the earnings call

Forward Guidance & Outlook

Kymera expects to report full data from the KT-621 BroADen Phase 1b trial in atopic dermatitis in December 2025. The BROADEN2 Phase 2b trial in AD has been initiated with topline data expected by mid-2027. The BREADTH Phase 2b trial in asthma is on track to start in Q1 2026. KT-579 (IRF5 degrader) is expected to enter Phase 1 clinical testing in early 2026. The partnered IRAK4 degrader program with Sanofi expects clinical entry in 2026. The company's cash position of $979 million provides runway into the second half of 2028, beyond multiple clinical inflection points.

KYMR YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$-120,000,000$-80,000,000$-40,000,000$0$3.7M$2.8MRevenue$-129,003,067$-92,521,000Operating Income$-119,981,019$-82,175,000Net Income
$-120,000,000$-80,000,000$-40,000,000$0RevenueOperating IncomeNet Income

KYMR Revenue by Segment

Sanofi Collaboration
Gilead Sciences Collaboration$2.8M

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