Earnings

Kymera's KT-579 Degrades At Least 90% Of IRF5 In Blood, With Placebo-Like Safety In Healthy Volunteers

The company plans a lupus trial by early 2027 and says its $1.6 billion in cash lasts into 2029, as its third-quarter loss widened.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Kymera's KT-579 Degrades At Least 90% Of IRF5 In Blood, With Placebo-Like Safety In Healthy Volunteers

Kymera Therapeutics, a clinical-stage drugmaker developing oral protein-degrading medicines for immune diseases, said its experimental pill KT-579 cut median levels of the IRF5 protein by at least 90% in blood across several doses in a Phase 1 trial in healthy volunteers. The company reported the results Thursday alongside third-quarter earnings, which showed a net loss of $132.0 million.

Deep degradation, clean safety record

In the multiple-dose portion of the trial, degradation of IRF5 in blood saturated by dose level 3, and skin showed similar reductions, the company said. Kymera said the results met or exceeded study objectives.

Blood tests of immune signals under stimulation showed the drug inhibited 88% of TNFα, 87% of IL-12/23p40, 94% of IL-1β and 98% of IFNβ at Day 14, using the median of all multiple-dose cohorts.

Safety was comparable to placebo. There were no serious or severe adverse events and none that led to discontinuation. Very few mild treatment-related events occurred, with no dose-dependent pattern.

CEO Nello Mainolfi said the findings "exceed our expectations in terms of depth of degradation, safety and pathway suppression."

Next step: a 30-patient lupus study

KT-579 is the company's seventh degrader to enter the clinic. Its LUMORA Phase 1b trial is planned to start by early 2027. The randomized, placebo-controlled study will test the drug in about 30 adults with systemic lupus erythematosus over 16 weeks, with a focus on whether it changes underlying disease biology.

Preclinical lupus-model data will be presented at the American College of Rheumatology's Convergence conference, held November 6-11 in Orlando.

Loss widens as STAT6 spending climbs

Net loss was $132.0 million, or $1.32 per share, against $82.2 million a year earlier. Research and development spending rose to $128.5 million from $74.1 million, which the company attributed mainly to its STAT6 program, platform and discovery work, and to a growing R&D organization.

There was no collaboration revenue in the quarter, compared with $2.8 million a year earlier, all from Gilead. Kymera does not expect more collaboration revenue in 2026.

Cash, cash equivalents and investments stood at $1.6 billion on September 30, which the company says funds operations into 2029.

Lead STAT6 drug nears its readout

The last patient has finished the week 16 visit in the Phase 2b atopic dermatitis trial of KT-621, which targets STAT6. Topline data are due by year-end 2026. Subject to talks with regulators, Kymera expects to begin a first Phase 3 atopic dermatitis trial by mid-2027. Data from the Phase 2b asthma trial are expected in late 2027.

The KT-621 atopic dermatitis readout, due by year-end 2026, is the next major data point for the company's lead program.

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