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Benzinga
Benzinga
Technology
Vandana Singh

Why Kymera Therapeutics Shares Are Falling Today

  • In its Q1 earnings releaseKymera Therapeutics Inc (NASDAQ:KYMR) announced the selection of the equivalent of 100 mg, in the fed state, as the dose for the Phase 1 patient cohort (Part C).
  • The cohort is expected to enroll up to 20 patients with hidradenitis suppurativa (HS) and atopic dermatitis (AD). 
  • In alignment with the FDA and partner Sanofi SA (NASDAQ:SNY), the Part C protocol has been amended to extend the dosing period from 14 to 28 days. 
  • Related: JPMorgan Sees 'Limited Upside Potential' In Kymera Therapeutics' KT-474.
  • The change will allow for the exploration of clinical endpoints in both HS and AD patients and an extended safety dataset. 
  • The company closed the March quarter with a cash balance of approximately $523 million, providing a cash runway into 2025.
  • Kymera will present clinical data from the HS and AD patients cohort in 2H 2022.
  • Deliver data package to Sanofi for a decision to proceed to Phase 2 in 2H 2022.
  • The company posted a Q1 EPS loss of $(0.71), missing the consensus of $(0.66)
  • Collaboration revenues were $9.6 million, compared to $18.7 million a year ago and missing the consensus of $16.23 million.
  • Price Action: KYMR shares are down 20.50% at $26.10 during the market session on the last check Tuesday.
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