Kymera Therapeutics unveiled promising results for its skin-disease treatment on Wednesday, which snagged interest from Sanofi and catapulted KYMR stock.
The biotech company tested its drug in patients with skin diseases hidradenitis suppurativa and eczema. The drug works by degrading a protein associated with immune responses. After four weeks, patients had low levels of that protein in their blood and skin lesions. Most patients had "substantial responses."
Kymera's partner on the drug, Sanofi, now is planning to move the drug into midstage testing. Protein degradation is a nascent technology that has shown early promise in cancer. Kymera Chief Executive Nello Mainolfi called the results "a pivotal moment for Kymera and the field of protein degradation."
"We believe that, for the first time, we have demonstrated clinical impact of a degrader, (called) KT-474, outside of oncology and in complex inflammatory diseases," Mainolfi said in a written statement.
On the stock market today, KYMR stock rocketed 14.6% to 29.62.
KYMR Stock: Validating Its Approach
Protein degradation harnesses the body's natural process for ridding itself of bad-actor proteins. In this case, Kymera is trying to knock down an immune responses protein called IRAK4.
After four weeks of treatment, patients with eczema and hidradenitis suppurativa had low levels of that protein in their blood and skin lesions. The drug also suppressed other substances related to inflammation. Patients also showed symptom improvement.
The results exceeded Kymera's own expectations and validated the strategy of knocking down the IRAK4 protein for these diseases, Chief Medical Officer Jared Gollob said in a written statement.
Bullishly for KYMR stock, Sanofi is planning to move the protein degrader into Phase 2 testing. The companies expect that study to begin next year.
Kymera shares opened at their highest point in eight months. The move also sent KYMR stock above its key moving averages, according to MarketSmith.com.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
