Kymera's Q4 Loss Wider Than Expected, Pipeline in Focus

Kymera Therapeutics, Inc. KYMR reported a fourth-quarter 2024 loss of 88 cents per share, wider than the Zacks Consensus Estimate of a loss of 76 cents. In the year-ago quarter, Kymera reported a loss of 25 cents per share.The year-over-year deterioration was due to lower collaboration revenues and higher operating expenses.Collaboration revenues totaled $7.4 million, which missed the Zacks Consensus Estimate of $13 million.In the year-ago quarter, Kymera earned collaboration revenues of $47.9 million due to the recognition of milestone payments related to the advancement of KT-474 into phase II testing under its collaboration with pharma bigwig Sanofi SNY.Shares of KYMR have lost 30.1% year to date compared with the industry’s decline of 8%. Image Source: Zacks Investment ResearchStay up-to-date with all quarterly releases: See Zacks Earnings Calendar. KYMR’s Operating Expenses Increase in Q4Research and development expenses totaled $71.8 million, up 35.6% year over year. This was primarily due to increased expenses related to the investment in the STAT6 and TYK2 degrader programs, platform and discovery programs, as well as a rise in occupancy and related costs due to continued growth in the research and development organization.General and administrative expenses totaled $16.3 million, up 14.7% year over year due to an increase in legal and professional service fees.As of Dec. 31, 2024, Kymera had $851 million in cash, cash equivalents and investments. The company expects its cash and cash equivalents to provide it with an anticipated cash runway into mid-2027.KYMR’s 2024 ResultsRevenues of $47.1 million were down from $78.6 million in 2023 but missed the Zacks Consensus Estimate of $52.9 million.Loss per share was $2.98 compared with a loss of $2.52 in 2023. The figure was wider than the Zacks Consensus Estimate of a loss of $2.79 per share.Key Pipeline Updates From KYMRIn October, Kymera initiated the phase I study on KT-621 in healthy volunteers. KT-621 is an investigational, first-in-class, once daily, oral degrader of STAT6.The phase I study is evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics of single and multiple-ascending doses of KT-621 compared to placebo. The study is completing its final cohorts and data from both doses are expected in 2025.Kymera also plans to initiate a phase Ib study in moderate to severe atopic dermatitis (AD) patients in the second quarter of 2025, with data expected to be reported in the fourth quarter of 2025.Two parallel phase IIb studies in AD and asthma patients are expected to begin in the fourth quarter of 2025 and the first quarter of 2026, respectively.Kymera intends to advance KT-295, an investigational, first-in-class, once daily, oral degrader of TYK2, into a phase I healthy volunteer study in the second quarter of 2025, with data expected to be reported in the fourth quarter of 2025. IND-enabling studies are ongoing.IKT-474 (SAR444656) is a first-in-class IRAK4 degrader in development for the treatment of immune-inflammatory diseases with significant patient needs, such as hidradenitis suppurativa (HS) and AD.In collaboration with partner Sanofi, two phase IIb dose-ranging clinical trials for the treatment of HS and AD are ongoing with primary completion expected in the first half of 2026 for HS and mid-2026 for AD.KYMR’s Zacks Rank and Other Stocks to ConsiderKymera currently carries a Zacks Rank #2 (Buy).A couple of other top-ranked stocks in the biotech sector are Gilead Sciences GILD and BioMarin Pharmaceutical BMRN, each carrying a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 30 days, Gilead Sciences’ EPS estimate for 2025 has increased from $7.56 to $7.85 per share. In the past 30 days, Gilead Sciences’ EPS estimate for 2025 has increased from $7.56 to $7.85. During the same timeframe, the metric for 2026 has increased to $8.17 from $7.82.GILD’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.47%.In the past 30 days, estimates for BioMarin Pharmaceutical’s 2025 EPS have increased from $4.01 to $4.19. Estimate for 2026 EPS has decreased from $5.21 to $5.20 during the same timeframe. BMRN’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.36%. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sanofi (SNY): Free Stock Analysis Report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report Gilead Sciences, Inc. (GILD): Free Stock Analysis Report Kymera Therapeutics, Inc. (KYMR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks