Overview

• US biopharma firm's Q1 revenue rose sharply, beating analyst expectations

• Net loss widened in Q1 as R&D and G&A expenses increased

• Company received $45 mln milestone from Gilead for KT-200 licensing

Outlook

• Kymera expects KT-621 atopic dermatitis Phase 2b trial data by mid-2027

• Company expects KT-621 asthma Phase 2b trial data in late 2027

• Kymera expects KT-579 Phase 1 trial data in 2H26

Result Drivers

• GILEAD MILESTONE PAYMENT - Collaboration revenue increase attributed to $45 mln milestone from Gilead for KT-200 licensing

• R&D SPENDING - Higher research and development expenses due to investment in STAT6 program and pipeline growth

• G&A COSTS - General and administrative expenses rose due to higher legal, professional, and operational costs to support growth

Company press release: ID:nGNX2FNTbP

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$34.37 mln	$8.61 mln (19 Analysts)
Q1 EPS		-$0.71
Q1 Net Income		-$69.23 mln
Q1 Operating Expenses		$118.52 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Kymera Therapeutics Inc is $119.00, about 46% above its April 29 closing price of $81.51

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