Kymera Therapeutics, Inc.

Listed Company

KYMRCIK 0001815442NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$39.21M

Net Income

$-311.35M

Total Assets

$1.74B

Equity

$1.58B

Shares Out

82.26M

Op. Cash Flow

$-232.89M

Business

Kymera Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing innovative small-molecule medicines using targeted protein degradation (TPD) to selectively eliminate disease-causing proteins. It offers TPD degraders and small-molecule therapeutics and discovery capabilities, with disclosed programs including KT-621 (STAT6), KT-295 (TYK2) and KT-474/SAR444656 (IRAK4), plus proprietary proteomics, AI-enabled screening and lead optimization tools. Key business areas include an immunology-focused clinical and preclinical pipeline, broader research initiatives, and partnered development (notably with Sanofi). Its programs advance through global clinical trials and rely on third-party contract manufacturers and collaborators for development, manufacturing and commercialization.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	39	47	79	47	73
Research and development	317	240	189	164	137
General and administrative	68	64	55	44	36
Impairment of long-lived assets	4	5	0	0	—
Total operating expenses	389	309	244	208	173
Loss from operations	−349	−262	−166	−161	−101
Interest and other income	38	38	19	7	488,000
Interest and other expense	−370,000	−249,000	−196,000	−176,000	−175,000
Total other income	38	38	19	6	313,000
Net loss	−311	−224	−147	−155	−100
Unrealized gain (loss) on marketable securities	3	−933,000	4	−4	−532,000
Total comprehensive loss	−308	−225	−143	−159	−101
Net loss attributable to common stockholders	−311	−224	−147	−155	−100
Net loss per share, basic	−3.69	−2.98	−2.52	−2.87	−2.09
Net loss per share, diluted	−3.69	−2.98	−2.52	−2.87	−2.09
Total weighted average common stock outstanding, basic and diluted (shares)	84	75	58	54	48
Total weighted average common stock outstanding, basic and diluted (shares)	84	75	58	54	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	357	120	110	68	48
Marketable securities (Note 4)	491	368	265	339	394
Prepaid expenses and other current assets	23	22	12	10	9
Total current assets	871	510	405	419	451
Marketable securities, non-current (Note 4)	771	362	61	152	125
Property and equipment, net (Note 6)	43	50	48	13	12
Right-of-use assets, operating leases	42	47	53	9	9
Other non-current assets	9	2	2	3	2
Restricted cash	6	6	6	6	6
Total assets	1,743	978	576	603	606
Accounts payable	4	6	7	4	4
Accrued expenses (Note 8)	42	35	34	28	23
Deferred revenue	23	14	38	35	62
Operating lease liabilities	12	12	5	3	2
Finance lease liabilities	2	2	1	1	1
Other current liabilities	242,000	223,000	524,000	303,000	228,000
Total current liabilities	83	68	86	71	93
Deferred revenue, net of current portion	11	0	17	28	39
Operating lease liabilities, net of current portion	67	72	77	12	13
Finance lease liabilities, net of current portion	1	2	1	1	1
Total liabilities	163	142	181	113	146
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	—	—	—
Common stock, $0.0001 par value; 150,000,000 shares authorized at December 31, 2025 and 2024, 81,323,532 and 64,890,193 shares issued and outstanding at December 31, 2025 and 2024, respectively	8,000	7,000	6,000	6,000	5,000
Additional paid-in capital	2,644	1,592	926	879	689
Accumulated deficit	−1,066	−755	−531	−384	−229
Accumulated other comprehensive income (loss)	2	−1	−552,000	−5	−660,000
Total stockholders' equity	1,580	836	395	490	460
Total liabilities and stockholders' equity	1,743	978	576	603	606

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−311	−224	−147	−155	−100
Stock-based compensation expense	60	55	43	35	25
Impairment of long-lived assets	4	5	0	—	—
Depreciation and amortization	8	7	4	3	2
Premiums and discounts on available for sale marketable securities	−9	−14	−5	889,000	6
Prepaid expenses and other assets	−2	−9	−2	−992,000	−4
Accounts receivable	0	15	−15	0	577,000
Contract asset	947,000	3	−1	−2	721,000
Accounts payable	−2	−307,000	2	253,000	54,000
Accrued expenses and other current liabilities	7	4	3	5	13
Deferred revenue	21	−41	−9	−38	−69
Operating lease right-of-use assets	3	3	5	517,000	419,000
Operating lease liabilities	−5	2	19	−1	−1
Other non-current assets	−7	168,000	909,000	−998,000	−2
Other non-current liabilities	18,000	−310,000	−28,000	257,000	86,000
Net cash used in operating activities	−233	−195	−103	−153	−129
Purchase of property and equipment, net	−1	−13	−34	−3	−2
Purchase of marketable securities	−1,008	−901	−189	−446	−456
Maturities of marketable securities	488	510	364	469	358
Net cash provided by (used in) investing activities	−521	−404	140	21	−100
Proceeds from issuance of common stock through At-The Market Sales Agreement, net of issuance costs of $1.2 million	0	49	0	0	8
Issuance of common stock and accompanying pre-funded warrants from August 2024 public offering, net of issuance costs of $12.2 million	0	247	0	0	—
Issuance of common stock from December 2025 public offering, net of issuance costs of $36.2 million	656	0	0	—	—
Proceeds from stock option exercises	62	12	3	3	788,000
Issuance of common stock and accompanying pre-funded warrants from June 2025 public offering, net of issuance costs of $15.7 million	273	0	0	—	—
Proceeds from employee stock purchase plan	2	2	1	1	—
Payments on financing leases	−1	−2	−76,000	−1	−849,000
Net cash provided by financing activities	991	609	4	153	250
Net increase (decrease) in cash, cash equivalents and restricted cash	237	10	41	20	21
Right-of-use assets obtained in exchange for operating lease liabilities	0	0	49	0	—
Cash paid for interest	312,000	206,000	162,000	179,000	158,000
Purchases of property and equipment through finance and lease liabilities	1	3	0	2	2
Property and equipment purchases included in accounts payable and accrued expenses	80,000	60,000	4	87,000	42,000

Filings

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