Kymera posts a $1.32 per-share loss as clinical-trial investment expands
Key Facts
Kymera Therapeutics reported third-quarter 2026 results on October 29, posting a loss of $1.32 per share against a consensus estimate of $1.26, missing expectations by $0.06, according to MarketBeat. The announcement came a day after the stock closed at $122.51 on October 28, up 4.20% during the session. The cited share-price move therefore preceded the results and does not reflect subsequent trading. The quarterly loss puts the company's financial performance at the forefront of the report, but its trajectory also depends on funding its drug programs and advancing clinical trials. The company reported its financial results and an update on the KT-579 trial on the same date.
Against the backdrop of research spending, the company recorded research and development expenses of $119.5 million in the second quarter of 2026, compared with $78.4 million in the same period of 2025. Kymera attributed the increase to investment in its STAT6 program, as well as its platform, discovery programs and growth in its research and development team. In the same second quarter, net loss was $61.2 million, down from $76.6 million a year earlier. This comparison provides context for expanding research investment alongside ongoing losses, but it relates to the second quarter and does not represent third-quarter figures. The company also said in an August filing that it had $1.5 billion in cash, cash equivalents and investments as of June 30, and expected its cash runway to extend into 2029.
In its latest liquidity update, Kymera said cash, cash equivalents and investments would provide a cash runway through 2029, extending beyond several clinical milestones. This horizon gives the company stated funding capacity to continue its programs, but does not guarantee research or commercial outcomes. Among the key clinical milestones the company identified was preliminary data expected by the end of 2026 from the Phase 2b BROADEN2 trial of KT-621 for atopic dermatitis. It said enrollment in the study was completed about six months ahead of schedule. The company planned to begin Phase 3 trials of the same drug by mid-2027.
The KT-621 program also extends to asthma, with Kymera expecting to report data from the Phase 2b BREADTH trial in late 2027. In addition, the company was awaiting data from a Phase 1 trial of KT-579 in healthy volunteers during the fourth quarter of 2026. It announced that it would present results on October 29 from the study evaluating single and multiple ascending doses of KT-579 in healthy volunteers. The announcement coincided with its quarterly financial results. These timelines add near-term checkpoints to the company's trajectory, while the KT-621 data expected by the end of 2026 and the planned start of Phase 3 trials in mid-2027 remain among the key upcoming milestones.