Kymera Therapeutics, Inc., a clinical-stage biopharmaceutical company, reported a net loss of $311.4 million for the year ended December 31, 2025, compared to a net loss of $223.9 million for the previous year. The company's collaboration revenue decreased to $39.2 million in 2025 from $47.1 million in 2024, primarily due to the satisfaction of performance obligations under the Sanofi agreement, offset by revenue related to the Gilead agreement. As of December 31, 2025, Kymera held $1,619.4 million in cash, cash equivalents, and marketable securities.
The company's operating expenses increased significantly, with research and development expenses rising to $316.6 million in 2025 from $240.2 million in 2024. This increase was largely driven by a $46.8 million increase in costs related to the STAT6 program, as well as increases in personnel and stock-based compensation, and occupancy and overhead costs. General and administrative expenses also increased to $68.2 million from $63.5 million, due to higher employee compensation and occupancy costs, and increased legal and professional service expenses. An impairment of long-lived assets was recorded at $3.9 million for the year ended December 31, 2025, compared to $4.9 million for the year ended December 31, 2024.
Strategic developments for Kymera in 2025 included a collaboration with Gilead Sciences, Inc. to develop novel oral molecular glue degraders for CDK2, for which Kymera received a $40.0 million upfront payment. Sanofi also exercised its full participation election to advance KT-485/SAR447971 into clinical testing. As a result, Sanofi stopped development of KT-474. The company also initiated Phase 2b trials for KT-621 in atopic dermatitis and asthma, and a Phase 1 trial for KT-579 in healthy volunteers.
Kymera's disclosed immunology programs target STAT6, IRF5, and IRAK4. The company is developing KT-621 as part of its STAT6 program and KT-579 as part of its oral IRF5 degrader program. Sanofi plans to advance KT-485 into clinical testing in 2026. As of December 31, 2025, the company had 238 full-time employees, with 189 engaged in research and development and 49 in business development, finance, legal, and general management and administration. The company anticipates that its existing cash, cash equivalents, and marketable securities will be sufficient to fund operations into 2029.
About Kymera Therapeutics, Inc.
Kymera Therapeutics is a biopharmaceutical company focused on developing targeted protein degradation therapies for immune-inflammatory diseases. Its pipeline includes oral small molecules targeting STAT6, TYK2, and IRAK4, aiming to treat conditions like atopic dermatitis, asthma, and hidradenitis suppurativa. The company leverages innovative degradation technology to create highly selective, potentially first-in-class medicines with advantages over biologics, targeting high unmet medical needs globally.
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