Kymera Therapeutics, Inc. (KYMR) SEC Filings & Earnings Calls

Clinical-stage biotech risk

“We are a clinical stage company and that may make it difficult for our stockholders to evaluate the success of our business to date and to assess our future viability.” · word for word

Continued operating losses

“We have incurred significant operating losses since our inception and anticipate that we will incur continued losses for the foreseeable future.” · word for word

Need for additional funding

“We will need to raise substantial additional funding. If we are unable to raise capital when needed or on attractive terms, we would be forced to delay, scale back or discontinue some of our product candidate development programs or future commercialization efforts.” · word for word

Clinical-stage biopharma; no approved products; reliance on pipeline success.

“Company is clinical-stage; no approved products; pipeline risk.”

Activist/insider selling pressure

“On June 26, 2026, the Reporting Persons and the Partners Managed Account sold an aggregate of 1,630,658 Shares at a price per Share of $106.50.” · word for word

Clinical trial risks remain; forward-looking statements caution about uncertainties.

“uncertainties inherent in the initiation, timing and design of ongoing and future clinical trials, the availability and timing of data... ability to successfully demonstrate the safety and efficacy of drug candidates.”

Loss of COO could impact operational execution, but transition to advisor role mitigates risk.

“Mr. Chadwick will remain an employee of Kymera Therapeutics, Inc. as an advisor until November 2026.” · word for word

Clinical trial execution risk for KT-621 and KT-579.

“Data expected by mid-2027 and late 2027 for KT-621; KT-579 data in 2H26.” · word for word

Clinical-stage company with no approved products

“We are a clinical stage company and that may make it difficult for our stockholders to evaluate the success of our business to date and to assess our future viability.” · word for word

Continued operating losses and need for additional funding

“We have incurred significant operating losses since our inception and anticipate that we will incur continued losses for the foreseeable future.” · word for word

Dependence on collaboration partners (Sanofi, Gilead)

“If we are unable to advance them through the clinic for safety or efficacy reasons or commercialize our product candidates or experience significant delays in doing so, our business will be materially harmed.” · word for word

Clinical-stage biotech with no approved products

“We are a clinical-stage biopharmaceutical company dedicated to reinventing the treatment of human disease through the development of innovative, highly differentiated oral medicines.” · word for word

Significant net losses and accumulated deficit

“Net Loss ($ thousands) 311,351”

Dependence on key clinical trial outcomes

“The shares vest upon achievement of certain milestones related to KT-621 clinical development and clinical development of our other programs.” · word for word

Potential dilution from equity compensation

“The 2020 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each January 1, beginning on January 1, 2021, by 4% of the outstanding number of shares of common stock.” · word for word

Concentration of ownership by large institutional holders

“Entities affiliated with Baker Bros. Advisors LP 8,680,353 10.56%” · word for word

Clinical Development Risk

“We are very early in our development efforts and our product candidates, whether conducted by us or our collaborators, are in early clinical development.” · word for word

Funding Risk

“We will need to raise substantial additional funding. If we are unable to raise capital when needed or on attractive terms, we would be forced to delay, scale back or discontinue some of our product candidate development programs.” · word for word

Novel Technology Risk

“Our approach to the discovery and development of product candidates is novel and unproven, which makes it difficult to predict the time, cost of development and likelihood of successfully developing any products.” · word for word

Dilution risk from ATM and resale registration

“Up to $500M ATM offering and registration of 31.4M shares for selling stockholders.”

Clinical trial execution risk for KT-621 and KT-579

“Phase 2b trials for KT-621 ongoing; Phase 1 for KT-579 initiated; data expected in 2027 and 2H26.”

Clinical trial risk; pipeline programs still in Phase 2.

“KT-621 BROADEN2 Phase 2b trial in AD ongoing, with data expected by mid-2027” · word for word

Dilution risk from equity offering

“Issuance of 8,050,000 shares at $86.00 per share”

Pre-revenue clinical-stage company with no approved products; reliance on pipeline success

“No revenue from product sales; net loss expected; cash burn for R&D”

Clinical-stage company with no approved products

“We are a clinical stage company and that may make it difficult for our stockholders to evaluate the success of our business to date and to assess our future viability.” · word for word

Continued operating losses and need for additional funding

“We have incurred significant operating losses since our inception and anticipate that we will incur continued losses for the foreseeable future.” · word for word

Novel and unproven technology platform

“Our approach to the discovery and development of product candidates is novel and unproven, which makes it difficult to predict the time, cost of development and likelihood of successfully developing any products.” · word for word

Dependence on third-party manufacturers and CROs

“We rely, and expect to continue to rely, on third parties to conduct our ongoing and planned preclinical studies and clinical trials for our current and future product candidates.” · word for word

Sublease market risk for vacated lab space

“The Company will continue to evaluate the potential recovery of the asset group under sublease scenarios, and thus it is possible that further additional impairments could be identified in future periods, and such amounts could be material.” · word for word