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Kymera Therapeutics

Kymera Therapeutics (KYMR) Q2 2026 Earnings

Reported Aug 5, 2026 at 7:10 AM ET · SEC Source

Q2 26 EPS

$-0.62

BEAT +15.98%

Est. $-0.74

Q2 26 Revenue

$65.0M

BEAT +98.32%

Est. $32.8M

vs S&P Since Q2 26

-2.7%

TRAILING MARKET

KYMR -2.3% vs S&P +0.5%

Market Reaction

Did KYMR Beat Earnings? Q2 2026 Results

Kymera Therapeutics posted a blowout second quarter for Q2 2026, delivering revenue of $65.00 million against a consensus estimate of $32.78 million, a 98.32% beat fueled by collaboration payments that sent revenue soaring 466.4% year over year. The … Read more Kymera Therapeutics posted a blowout second quarter for Q2 2026, delivering revenue of $65.00 million against a consensus estimate of $32.78 million, a 98.32% beat fueled by collaboration payments that sent revenue soaring 466.4% year over year. The primary driver was $65.00 million in partnership receipts, including a $45.00 million option exercise fee from Gilead Sciences for KT-200 and a $20.00 million milestone from Sanofi tied to the first Phase 1 dosing of IRAK4 degrader KT-485. On the bottom line, Kymera reported a loss of $0.62 per share, beating the $0.74 consensus by 15.98%, even as R&D spending climbed to $119.48 million from $78.39 million a year ago. The clinical picture added further momentum, with enrollment in the KT-621 BROADEN2 Phase 2b atopic dermatitis trial completing nearly six months ahead of schedule, pulling topline data expectations forward to year-end 2026 and positioning Phase 3 to begin by mid-2027. The company closed the quarter with $1.50 billion in cash, providing runway into 2029.

Key Takeaways

  • • $45 million option exercise fee from Gilead Sciences for KT-200 licensing
  • • $20 million milestone payment from Sanofi for KT-485 first-in-human dosing
  • • Accelerated enrollment completion in BROADEN2 Phase 2b trial in atopic dermatitis

KYMR Forward Guidance & Outlook

Kymera expects topline data from the KT-621 BROADEN2 Phase 2b trial in atopic dermatitis by year-end 2026, pulled forward approximately six months from prior mid-2027 guidance. Phase 3 trials in AD are planned to initiate by mid-2027, subject to regulatory discussions. KT-621 BREADTH Phase 2b asthma data is expected in late 2027. KT-579 Phase 1 healthy volunteer data is expected in Q4 2026, with a Phase 1b proof-of-concept trial in lupus planned soon after. The company expects its $1.5 billion cash position to provide runway into 2029 beyond multiple clinical inflection points. The company aims to deliver at least one new development candidate per year from its discovery engine.

24/7 Wall St

KYMR YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

KYMR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q3 25

“Kymera is delivering in a pivotal period of execution, with multiple clinical-stage programs advancing, important data catalysts ahead, and growing conviction in the potential of oral degrader medicines to transform the standard of care for chronic, debilitating immunological diseases. The rapid completion of enrollment in our KT-621 BROADEN2 Phase 2b trial in atopic dermatitis nearly six months ahead of our original timeline is a powerful example of the immense interest from clinicians and patients in a once-daily oral therapy and excellent execution from the Kymera team. The accelerated timeline enables us to pull forward our expected topline readout to year-end 2026, positions us for an earlier than anticipated start to Phase 3 trials next year, and ultimately allows us to move faster for patients who are waiting for new options.”

— Nello Mainolfi, Q2 2026 Earnings Press Release

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