Kymera Therapeutics, Inc.
kymeratx.comWhat Do They Do?
Develops oral small-molecule drug candidates for patients with immune-inflammatory diseases, as well as therapies in other disease areas.
10-K for FY2025, filed Feb 26, 2026We are a clinical-stage biopharmaceutical company dedicated to reinventing the treatment of human disease through the development of…View ↗
Our current discovery and development efforts are primarily directed at high-value targets in immunology. We believe there are more than…View ↗
In addition to our immunology focus, we also have research initiatives in other therapeutic areas. Additionally, we believe many of our key…View ↗
How Do They Make Money?
Collaboration partners pay upfront fees for licenses, fees when they exercise options, and milestone payments; they also pay under contract billing schedules for research and development work. License fees are earned when the partner can use the license, while research fees are earned as the work is carried out.
10-K for FY2025, filed Feb 26, 2026For performance obligations which consist of licenses and other promises, the Company utilizes judgment to assess the nature of the…View ↗
Exclusive Licenses—If the license granted in the arrangement is determined to be distinct from the other promises or performance…View ↗
Research and Development Services—The promises under the Company’s collaboration and license agreements generally include research and…View ↗
Customer Options—The Company’s arrangements may provide a collaborator with the right to certain optional purchases, such as the right to…View ↗
Milestone Payments—At the inception of each arrangement that includes milestone payments based on certain events, the Company evaluates…View ↗
$39.2M
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10-K for FY2025, filed Feb 26, 2026
$39.2M ↗
Who Are Their Customers?
Works directly with pharmaceutical partners: Sanofi collaborates on an IRAK4 drug candidate, and Gilead collaborates on CDK2 degraders.
10-K for FY2025, filed Feb 26, 2026Our publicly disclosed immunology programs target STAT6, IRF5 and IRAK4, each of which addresses targets within validated pathways…View ↗
Do Revenues Turn Into Profits?
No. It lost $311.4M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$349.4MView ↗
10-K for FY2025, filed Feb 26, 2026
−$311.4MView ↗
10-K for FY2025, filed Feb 26, 2026
−$234.3MView ↗
How Are They Changing?
Shrinking. Revenue fell 46% in 4 years, from $72.8M in FY2021 to $39.2M in FY2025, about 14% a year.
Immunology takes center stage
The older report described clinical programs spanning immune-inflammatory diseases and oncology; the latest report centers discovery and development on immunology, while retaining research in other therapeutic areas.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 26, 2026Our programs exemplify our focus on addressing high impact targets that have been elusive to conventional modalities and that drive the…View ↗
Beyond protein degradation
The older report framed discovery around targeted protein degradation; the latest report also describes using small-molecule approaches beyond that modality.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 26, 2026We are a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics that selectively degrade…View ↗
In addition to our immunology focus, we also have research initiatives in other therapeutic areas. Additionally, we believe many of our key…View ↗
Who Do They Compete With?
Competes with Arvinas, C4 Therapeutics, Nurix Therapeutics, Foghorn Therapeutics, Gilead Sciences, Johnson & Johnson, Pfizer, and Sanofi
10-K for FY2025, filed Feb 26, 2026Companies developing small molecule protein degraders therapies for patients, include, but are not limited to, Arvinas, Inc., C4…View ↗
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