Earnings call transcript Q1 2023

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Operator

Good morning, and welcome to the Kymera Therapeutics First Quarter 2023 Earnings Conference Call [Operator Instructions]. Please note that this event is being recorded today.

I would now like to turn the conference over to the Chief Financial Officer, Bruce Jacobs. Please go ahead, sir.

Bruce Jacobs

Good morning, everyone, and welcome to the Kymera Therapeutics quarterly conference call. Officer. Financial Nello Kymera, CEO; Mainolfi, Gollob, Chief Chief joined I'll and Jacobs, our by today Founder Medical Bruce Officer and at be Jared I'm President and the After call our we prepared will to questions [Operator remarks, your Instructions]. open

or to outlined I'd the any management release. results events in on the get make that include call could that everyone from and like press I some remind differ those Before forward-looking may this started, of comments statements, expressed materially as including as Actual risks, set recent statements by that uncertainties may with and and forth most the various implied result of filings make SEC the forward-looking a Kymera's other the other those filings SEC. future company any factors, with in

undue any reliance obligation law. place to on disclaims forward-looking and as not cautioned update are to required statements any statements, Kymera such except by those You

now that said, call With Nello. I'll over to hand the

Nello Mainolfi

on Over novel that platform a needs uniquely ability demonstrating high-value treatment. hypotheses. to by that our that for the novel reach we've to Kymera of areas today. meaningfully thank medicines few significant and us to build advance have This on have our on joining from it time, building addressed transform minutes potential we Bruce, our milestone, benefit to this the patient reflecting selection this reached medicines therapeutic in company. our founding. integrated marks on us disease areas made month ambitious and be and would our cannot thought the I of the you, spend programs modality Thanks, I would a design in anniversary and year to And everybody, molecules drug Since funding, plans that the seven evolving pipeline focused target a best-in-class would progress allow platform fully strategy conventional to we've global capabilities use target enhance as that continued

discovered positive December KT-XXX/nHS seen, Sanofi. of we bifunctional this a the in for and of in trials early I is and first accomplishment for clinical separativa company and indications first we new developed pioneering hydrotenatic into inhibitor. partner, clinic. degrader With differentiation and Phase molecule first the last study through our have II dermatitis of a KT-XXX, of IRAKX we proof-of-concept shared planned molecule for followed that both time, In by of Sanofi clinical program, strong compared a degrader in hydro to study benefits Phase a is that year, patients of first-in-class Our degrader a our is a data translation II this by a immunology initiate to preclinical start modality. is year, small the PK/PD the Phase program, substantial safety This demonstrated in expects to models atopic conducted inflammation AD.

brief preclinical creating the index. be the next the reduction, as a We normal of potential to we and opportunity first wild-type image stabilize Our and Association effect trial MYDXX-mutant lymphoma, three to been Phase with the oncology of the and have any concept acute Near that apoptotic PXX KT-XXX's so make potential time European of trial been response PXX B-cell Congress of manner. on does programs stabilizing an clinical note, The mechanism a of may a to in single removes the trial our while to pharmacological Hematology improved the present MDMX the safety indices. target handful the limited on inhibitors makes the dose reduced data genetically PXX molecule such to loop inhibition therapeutic [Indiscernible] an catalytic initiated harder block of in the potent a induce a to of We giving able clinic tumor makes small to given mechanism including defined Phase treat KT-XXX, aligning by later it some believe profile in the molecule to the other the pursued with loop, precision the degrader therapeutic including a small which of in hand, the remove advances, feedback Unfortunately, be term, activity a With generated been extensively and has at of MDMX has and KT-XXX, in we substrates, explore industry. biopharma KT-XXX I clinical degrader, sharing continue Araracumid to powerful data plan KT-XXX. IRAK-X has more progress. forward sales, MDMX tumor DLBCL. types. overcome in activity a inhibitors us has we can that MDMX are leads recovery Of has is MDMX protein proof additional look to There subset month. the and clinical KT-XXX variety leading overcome exposure creates to for This small affected, targets the program, updates year. I fully. the protein that designed in a have feedback of KTE-XXX occupancy-driven for medicine that we that transcriptional may currently more lymphomas, potential it escalation a believe which we're feedback highly with candidates because tumors. to loop and molecule be irreversible

initial engage toxicities. from without that some we the in the showing any shared trial December, dose-limiting target data We

transcription enter has escalation an tumor patients, oncology currently cancers the in in program, I shown subset Phase liquid of We're factors which solid dose and also XXX degrader we've been is numerous clinic. autoimmune STATX, third inflammatory of linked Our and trial to and proof targets broad the against and first where to of diseases the KT mechanism. on-track the early

both biological target profile Our degradation in clinical their be evaluating and KT-XXX will patient KT-XXX impact XXXX the focus for in and and the appropriate populations.

Lymphoma, degradation June. in focused to in We the year. in and for populations clinical activity the safety Conference the for disclosed and to update on we later ICML, on provide intend plan evaluating KT-XXX at antitumor present both KT-XXX As patient today, programs or Malignant data target a International

to In identify and to push first-in-class the transform disease. addition, continue of the TPD opportunities signs forward best treatment and of we

detail to exciting of have in well of in several and oncology patient our EX pathways to to each progress need turning our high-value cover for as recent now able newly before reach We and for generation early next. glues, of targets. tissue-selective are program significant agrees on-drug on to ligase exploiting this or areas our immunology to disclosed pipeline more opportunity. call share over preclinical financial year new include will well-validated designed that more nonregundable be restricted molecular treatment identified programs address programs We the the later to developing these Jared as efforts a expand and a commercial Bruce These hope in update.

session I remarks I call a will operator Q&A Bruce concluding be the will and with the handing before to available. which then for finish in Jared, some Jared?

Jared Gollob

where Thanks, Nello. I'll clinical we a what coming brief with and we of months. the expect stand provide recap in programs our

which our to and on I degraders. everyone Turning our programs, pipeline. oncology MDMX want include update our Aracamid StatX, to disclosed

dose even from first solid I close wide degrader, induce mentioned, of MDMX in XXX-fold has in of the our apoptosis, degrader hematological loop overcome a a Nello to inhibitors year. compared last believe shown of to our and cell MDMX MDMX the potential molecule with MDMX KT-XXX brief regulator trial potential improvements common the and patient crucial to in to and at the Phase demonstrated expect potent end both cancers. As of effective XX% has range most that highly preclinically received initiated with the the IND shortly. vitro malignancies clearance have has growth superior preclinically small FDA and pXX, March feedback has to We inhibition than intact functioning in small shown tumor been rapidly to inhibitors the is KT-XXX molecule the be pXX. to greater and the We exposures. remains KT-XXX and ability suppressor unlike KT-XXXX, tumors apoptosis. be We've that which activity

acute presented of last leukemia, KT-XXX a in data potential using dosing AML, safety Annual of Additionally, and the we schedule an at improved which supporting the efficacy degrader year, Meeting for ASH has myeloid tolerability, intermittent acute activity leukemia, with approach. and high-grade malignancies, lymphocytic solid the and refractory pharmacodynamics The patients myeloid Phase relapsed tumors. safety, lymphomas or I ALL, trial clinical is or pharmacokinetics, in KT-XXX evaluating

will II with comprised of in Ia study dose in administered Patients of three weeks. receive escalation KT-XXX of doses KT-XXX will ascending the is IV arm. every recommended and KT-XXX label open intended to arms study the be dose for two once each KT-XXX Phase The doses identify Phase

mechanism of will share clinical from We myeloid with second consist will arm trial solid initial malignancies of the first and The this ALL. of consist lymphomas year. tumors to and Phase the plan arm and later patients safety with proof high-grade advanced in I patients data

other been linked our oncology two diseases. has to ongoing. STATX to as to cancers trials are well as that numerous is turning autoimmune inflammatory transcriptional and that regulator Now a

KT-XXX's hematological clinical Our is Phase I in malignancies and solid potential trial tumors. evaluating

activity expect toxicities on knockdown relapsed degradation on consist well safety, in with target the and to solid STATX as hours trial's is from adult followed trial at antitumor in patients in level lymphomas and continuing stage KT-XXX of to cohorts The T-cell KT-XXX the pharmacologically PK/PD by dose-limiting showed or clinical of Phase patients. enroll, and active and recovery, preclinical and/or in and/or December, the of we Ib for evaluating in activity second solid Specifically, reported relapsed DLX PK/PD December, is be previously PK/PD tolerability, DLX, expansion of refractory We the in with dose in stat-redependent by we tolerability, the tumors. refractory tumors. robust first models mechanism to proof will doses XX based no announced. good initial showing safety, malignancies to translation of as PBMC characterize for The as trial PK/PD with further

the the the synergistically is KT-XXX novel degradation Ailos heterobifunctional mutant evaluating B-cell degradation in PK/PD safety KX-XXX, targets pathway broaden image type that showing no the and as trial, a IRAK-X, to relapsed X designed of both malignancies. on in models dose stage the to IL-XR initial December in escalation of tolerability, and reported with Ailos. and/or was PBMC and with non-Hodgkin's similar We have degrader been Our completed MYDXX and timeline KT-XXX safety, IRAKIMiD the KT-XXX against Ikaros good in both of signals substrates, and and program, activity the and patients lymphomas. is of preclinical that PK/PD a address for two to Ikaros is tumor translation IRAKX TLR and mechanism patients. I first B-cell interferon refractory currently proof activity levels Phase clinical with dose of KT-XXX

expansion be as second further cohorts in similar DLX The DLBCL. by mutant doses KT-XXX, enrollment active pharmacologically DLX relapsed/refractory PK/PD stage and We antitumor Ib are and trial's of continuing will MYDXX tolerability, or consist MYDXX and safety, to announced. a to activity expect the DLBCL wild-type we in of Phase characterize to previously KT-XXX

forward sharing will appear the poster two As ICML We'll these the Nello an we abstract safety on present data at KT-XXX on updated KT-XXX look degradation in and mentioned, update a and programs June. book. conference to at in ICML on

said and at to share clinical of we've expect populations previously, later target respective to KT-XXX meeting assess patient the that in impact data medical As KT-XXX for we both a this degradation year. the and

our end with IRAKX program, I'll KT-XXX.

time with starting in Sanofi expectations. of the be There start you will additional to in is Phase Sanofi's HS which Phase than for limited this tracking place our into information trials planned II initiating share year. Nello are mentioned, in first is and plans at the taking AD, with to HS this say I II and As other can KT-XXX and

comments presenting Finally, program to forward at EADV KT-XXX, look clinical this respect symposium exciting these share I call now first to will quarter. will data I for our the from with Phase month, to the major the our first data sharing scientific which brief in financial Bruce, the Sevilla the a results mark on will time later hand who meeting. at we some

Bruce Jacobs

quickly the concluding back remarks. Nello for Thanks, call Jared. some to cover the turning before financials I'll

as and events for all support removed very held to surrounding the wanted credit operating the Before was the of letter further and Valley of also investments into coupled our we our limits March, above our of briefly and Bank our the modest limited that our to I a that and our new prioritizes cash cash STB at operating specific needs. we the it guides the in financial recent was corporate banking relationships to At to financial needs all reminder, Silicon bonds. liquidity bank. lease. that response to government the the excess held securities is Kymera's time of relates quarter, asset to our and to with principal have support At this Kymera. highly protection been of management results STB, And This outstanding our exposure and there we getting approach, current expansion investment rated And policy it's the receivership time, to events address policy brief risk. in had as there moved investment of diversify

for That Sanofi recognized reflects noncash was revenue. we expect represented $XX.X and including amount $XX our of revenue recognized we recognize At total any stock-based to the said, decrease to million. potential a the This The approximately was reflects over deferred partnership milestones. quarter, of balance the from back million about 'XX. With total the of sheet reflects operating our the revenue adjusted $XX.X to fourth financials R&D the Vertex the quarter respect end revenue $X.X of That quarter, R&D quarter of cash pursuant for on next the compensation. which expenses, to comparable collaboration. X% future years, million the spend million, the comp, million, stock-based several of in excluding receipt $X.X

excluding was the the the the adjusted balance And the comparable stock-based from approximately million. first was also $XX.X and quarter cash G&A spend XX% which stock-based a increase for quarter spending SG&A $X.X $X.X quarter of million Our fourth XXXX. cash of exited reflects in amount compensation, comp, of with finally, $XXX we equivalents of million, noncash million,

Nello. second in half trials KT-XXX. first projection, the will XXXX the runway into X now for earlier includes the only which back II of milestones of cash related As extends to to we we the the our believe shared turn start Phase year, I call

Nello Mainolfi

engine our reminding our boundaries to Propelling company hasn't a forward enables on company well rigorous Kymera us. participating to like that was Thanks, and built I'd the to by identifying that and achieve funded for Over push what to everybody relentless point, we history, desire revolutionize journey candidates us best-in-class signs, seven treat our new least may At harness Kymera delivering have diseases. we approaches of clinical patients a done We sharing to year culture Bruce. at at a this capable a IND and discovery way discovery I'd the a the novel we the to in pace can so drug sharing conclude with accelerated thank exciting the we invest assets X approach stage every what support can as we now to possibilities of what scientific our to expand impossible. updates do and areas, our and improve and our in the across clinical maturing seen coming the year. have patients' do of to been platform expand disease-agnostic X different to disease look pipeline is We trials team lives. our before like clinical capabilities rapidly in partners of to continue that future programs, evolve platform this months. build therapeutic as

you I our that microphone forward hand in operator and look can participating to take so questions. the all to questions. now your I your for we Finally, will call, back thank the

Operator

begin will session the We question-and-answer Instructions]. now [Operator

question here from will Purohit Morgan first Vikram Stanley. Our with come

Unidentified Analyst

This is Vikram. Gospel for on

have We one question.

versus the the good going mixed one? the a each is When X available, activity best this KT-XXX determining is have activity. data you you clinical each and program What to for to it would think mentioned benchmark expect be for the Level to molecule? demonstrate gauge you your more KT-XXX, in what X those for and do interpret of clinical strength way So that to is outcome

Nello Mainolfi

expect we active December to at that will those question we X be So to do first, be level and clinical of clear, like Level Obviously, activity, and those be X be at clear. levels clinically we exposures said I'd those in to just just degradation. see the doses,

some across XXX, and really IRAKX mutant remind between we've are Remind we hours, to XX just you we've shown Ikaros XXX, XX% So complete data. midi for mechanisms. proteins, for to that remissions. XX% the shown tumors if And XXX these can and for anywhere mechanisms for Ailos everybody, about and drive both three compelling you, degrade preclinical first-in-class

for LGL, about shown tumors. some for about able For to of if remission. models that at least to XX% talked subset able that XX we've CTCL, about leukemias to hours, some were preclinical XXX, drive liquid you We've we we're degrade PTCL to run in that complete

look clinical perspectives. X So at the want question always we to from that ask, we translation

able molecule one what translate was it is designed first the The to to do.

so X preclinical molecules our ask to And we profile. replicate of degradation these

degradation degradation is XX what XX% said, X mentioned, be we I hours XX% program for for, XX I second. as this it the XX% as XXX believe for XXX relevant to for to clinically and hours for So and

we safety as what on clinic, an make tolerated going and want So reach in we said sure molecules to doses those fact, profile. that. We in the is ICML our degradation at and a give we're are and PK/PD to continue able that that explore to with profiles on exposures to update tolerated

And said. of -- degradation that's data that effect. antitumor in is and we're is to the to derisking then that into part year, be second profile particular answer show the studies later going and he the the try had preclinical this going as question done And translating translation clinical the we as in

of it's us broad we're clear, just relatively patient studies a hard population. So escalation a for dose I terms set bar running to Phase be because to in

of patients of tumor disease in fit we that right the type criteria will types. So a the probably and have handful of terms

we patients ability to of what translation of is the in effect. those would so see And antitumor like

because that? on want the now anything comparing clinical and you Jared, add still right think to And we're bar away setting just in development. to so early I we're staying a

Jared Gollob

that covers all. think No, it I

Operator

will Schmidt Guggenheim. come from question with Michael next Our

Michael Schmidt

dose? and XXX point, about have at the Phase studies about update XXX, on how or talk I conference, tracking around towards now how in do can XXX, are had a identifying December. and knockdown were And those that you in to go? ICML you to you are higher as a on-target those recommended much do XXX% targets need already not then data one over to the you toxicities or seeing And the follow-up in XX% last I how this issues a two patients of you go guess, you How this two you Phase higher. Ikaros much I think many you bit think you potential at Ailos on confident two? dose how Just upcoming II far are beyond related

Jared Gollob

We really are haven't both across terms enrollment to right been guiding of the now we regards externally studies. in where with

As at updates both KT-XXX when we across dose enroll which first terms presented be really that levels time, really present on we we to for on numbers for and that dose first in on update can studies. at we'll back showed we ICML, levels. of data And December, two level where And we able the do in KT-XXX. to dose we're are say DLX, all continuing is the

first that the the XX% right of very regard knockdown yes, Ailos to question, did peripheral particular, in knockdown terms we those XX%, with robust In knock Ikaros on, than you're back show greater in is XXX blood, levels a shared dose and in data with December. of two and we

dose XX% we XX% set serial tumor of showed tumor from think level blood. knockdown around and XX%, and the knockdown of around where For had approximately IRAKX, that Ikaros We the had XX% we and of knockdown in Ailos IRAKX. of at IRAKX one time, first I biopsies

earlier possible, range our continue to blood, Akoros want of XX% is Nello see knockdown of is in activity to strong show be activity associated in get where voluntary, that we with we it's I show to models. so further levels that in dose And think can IRAKX, subsequent Ailos able And preclinical also we'd into like as up there continued and levels alluded getting XX% to the to levels knockdown what antitumor biopsies well. tumor to if

Nello Mainolfi

to add thing, probably benefit. want just I everyone's for and one Michael,

I time at think Kymera. be it's an exceptionally to exciting

is it we're with now witness doing of with translation luxury direct have mechanisms, and We've mechanisms. done We the for into in first-class other three what patients.

don't trying I biology So we're It's at deflect really here. think we questions. to play observing new like are

how for STATX, so want -- for a to on is thoughtful there opportunities wealth especially And we we're exploring. be that of

Operator

Our next with Canino from question Brad will Stifel. come

Brad Canino

dose questions December's question that feel check specific the a to in I just numbers to And include neutropenia KT-XXX drug through dose you of will last as the do want presentation. comfortable escalate, disclosure? a going different I in DLBCL marching safety with, which have care? be of grades rest with we like of the as then treatment evolve data going year, paradigm, because Will a to these way upcoming watch I'm be relative across when about earlier this you cohorts especially the ask that you Lugano think you're on on and in additional range combination to standards Michael's patient to lines the eventually

Nello Mainolfi

more Yes, asking great an clear data, on programs be wouldn't we be weren't -- present. that's data ICML. there the meaningfully a Otherwise, thanks I maybe be There and that presenting more will will for obviously. enough. we again Yes, know, because we

this actual response the the synergistic neutropenia ability Ailos. hours question biology around want alternative clinic? antitumor here profound The question to Jared, from that between is, any in the comment of to question. I'll biology to let to us potential neutropenia the immediate again, grade is type before, is If XXX allows On to days the the the this required it Ikaros because drive to that immediate maybe is, that's part which few which the want by -- think of translate will is apoptotic coming other the on and XX better first in on-target knockdown? pharmacology the question. then dose in able we've that being effect we've safety programs, to be translate dosing, you preclinically, with response to the managed And only really here? capture I anything than we have this IRAKX repeat neutropenia driven able image apoptotic and going Is of something I seen we add opportunity the much navigate synergistic just on -- the be an allow said PARADIGM. apoptotic by and Jared

Jared Gollob

issue IV The lymphocytes. in is seen every neutropenia, suppressed mean, And IMiDs, three The In see isn't neutropenia I what IMiDs. on that which referring gave see potent lowering have recover GLP real we in the every on week X really in we we'll one that, any terms especially the they saw recovery dose clearly, of with based is this as continue adequate whether to neutrophils. noted as we well our after neutrophils recovery And to weeks dosing, that we issue with the we three neutrophils animal levels to we're of of see events. us tox our is December neutropenia didn't infusion lowering time preclinical because is We adverse XXX, dose expect, do with back studies, first see time. escalate. tox data were to as as

particular be, to tolerability And that so dosing tell for lot us each I will neutrophil see as do to of which will recovery prior therapeutic regimen in to And we is lowering within. expect the toxicity, here seen where we and about commonly and think intermittent I mitigate that ability index the this the a dose. see some think we escalate, us key

Operator

come with Chris Shibutani next Goldman question will Sachs. our And from

Chris Shibutani

a assets, Perhaps questions you the on Nello, terms we strategically seem comment of anniversary. oncology about that on of to a the portfolio them things going allocation. phase in those think kind development your in can couple of the how about you capital noted assets. optimizing and of some tandem. there's of When Following you're next thinking of be the fleet specific

of will investors steer Do in you assets attention investment driver. brought you the I a about could relationship know the kind immunology kind terms couple but are that of of You roam, catalyst so immunology lead tranche capital Sanofi sort anticipate of you like there's areas also development, you believe be in then you more that a as timing trio? this How thinking you to of other optimize the can for on these the someone the strategic And next that indications. to kind first or pay you that like have the next business of potential role in-house. with board assets of that have? taking asset, banking oncology

Nello Mainolfi

which to great a do question, in day try a a on, could couple I'll spend I It's but it minutes. of

commit on company, we new really, that through. committed capitalize power and order First, of have to that like taken to potentially commit company to in different the use recognize modality seeing an definition programs development it through and to phases of new because I'd early company. a to often real to we've the building a meaning from see path sitting to eventually commercialization transformative believe this I the a on decided was drug that this of really strong real modality, you

to taught on You other so partners industry what depend history that's us. has do cannot because

New modalities at companies only have in companies biotech biotech developed and been best.

So that's our commitment.

targets have And the the that targets years were power of technology. We best have this execution, out, fortunate into our say, we've from enough demonstrating of of Now the year's seven development, been first the but type played learned technology. we early also that benefit clinical I learning. would early shown extremely full a well

type on of don't at targets technology we've think that focused, we've early type And the enough, been good really with not the and again. is we've and targets technology. -- worth I work we of been We've broadly understanding applying also this been not learned discuss this well maybe

the the sequence, disease And degradation the so impacts human power in to and condition. then our of first wave demonstrate human patients of and catalyst with targets, are I rich degrading positioned of well human that think, targets on power

our So next in across four two of programs I we will proof would concept see say clinical pipeline. have we years, that the

and will KT-XXX, see We AD. in proof-of-concept HS of

of see the we we we'll proof I will oncology. potential. to full build if KT-XXX of see or there. cancer disease of be potentially realization of company several would And think, lymphoma, see We concept of stop outside and in we MDMX, a of not concept final Kymera could type types want proof KT-XXX types But in of

higher our first, or years And we've let's actually for on that of new so of decided of new we else. a we've a with heavily our technology we And six everybody areas focus five in opportunities the learned investment has where define generation years clinical ahead since focus say, forward, that slightly success taken been need, to going believe from large an there is funding will learnings two of the targets. into have is where pipeline which the area generation applying this maybe larger to in they're biotech commercial immunology,

We first We've immunology. were clinical take into company a shown to already data. the meaningful degrader the

all have be We are haven't to from amass learnings really development a we through novel in of to immunology the and talked able that series we disclosing -- next asset, about we of that the will learned been that able that months. programs that have to we platform translate the few

enough that that I own. think not also do can on to our believe we all of we're naive

impossible, be clear. would be to just that think I

the For programs to commercialize want our type of it next develop, to on indications or the we own would eight in that and seven five years. years programs impossible be

as we will other do in maximize will can terms ecosystem, is XXX, position creation of how as I is this in value progress new with focused them to that world in the we question suspect done And think on And on then be here. now obviously in us. partnerships we're the about in the program I biopharma best yet. build share we've into the synergies strategic the one choices generation clinic and there We're in maybe in really clinic. not that don't quite more We're the that just because programs are which for advancing translating talk these optimize the this we part, a what of clinic businesses. Sanofi So on in the the of front there have business

Operator

will Frahm from question TD Cowen. Our next Marc with come

Marc Frahm

that both of the midyear. after the start just ICLML Maybe one degradation? terms target again profile you but just data there, -- of timing for the guidance through to also Can kind right degradation walk in of depth, those MDMX initial

Nello Mainolfi

just be an I this ICML, maybe So is right? clear, presenting MDMX, misunderstood, So but… to be we'll MDMX, not

Marc Frahm

[Indiscernible] right after…

Nello Mainolfi

safety term suffered what early the of mechanism the we're safety year, see we all is clear the early a think the target presenting way, this cohorts we to we meaningful EHA past right and be on have I fully in how to going what will conference. managing presenting engage program, data clinical much from MDMX just be in the And ability call to in the at data. preclinical is degradation and this Later in the in MDMX proof So be for profile, programs short what because which profile. it's

have what type what how that kind in and more So dose the these, full believe require will for a what team really we And that a is we we actually to elegant of done. observed say is us on terms really deeply, Once has is to that, in need able we're pathway. will a we haven't about are even have variety say extent in transcription again, talked not biological of achieve for commitment even to knock to to we And data I is this, in we short days. biology hours, see degradation presenting order a seen regulation, needed sell But limited tumor for apoptosis call feedback this deeply of time, the species. that another MDMX of period profound actually commitment work would and wide weeks. even believe later will I the to response say, dose but EHA, MDMX profile dosing down of and I a loop is the of the -- talk overcome degradation about of I MDMX to preclinical types. deep data enough degradation What at we I also not impact that preclinical year we the in

fact, once with three we're going into clinic In program the dosing. with every this weeks

is around. seeing program again profile, which preclinical in characterized, to trying these seeing we're really So that a we're of what demonstrate the the do first, in safety to we few feel confident this innings and hours, manageable and early degradation also profound species, we're in we've again,

Marc Frahm

the And and maybe XXX trials. then to XXX back

might you criteria who and the broad But the earlier, you necessarily have the early just of seeing we in the there enrollment not from the towards As enrollment patient most or is in what bias entirely pretty out should the robust is are particularly real testing, population think kind focused on given we'll parts mentioned the singulation there that populations, some MYDXX, activity. really target a is epidemiology see?

Jared Gollob

Phase interest. XXX as opportunity these give to onto the on sites into mutant patients show do B as to as get also with Ia. us Waldenstroms we and to likewise, have into we activity. are are putting or we enrolling STATX the of and tumors to onto sites sites that trial, likewise, those is broadly the ability broadly the so for higher study earlier, Nello MYDXX doses. do non-Hodgkin's know especially as And we we're that PTCL as be active those of lymphoma CTCL, sites on well those have lymphomas those LGL think we'd and as either Ia. identify Phase as T-cell DLBCL get like enrolling have higher program, to those enrolling But an get antitumor patients of that a indications patients are the targeted have and into noted, solid have We patients, are doses pharmacologically patients and capable those alluded I well, able number of initial that doses, some as B-cell the And sites study you've -- to enrolled higher

target indications. antitumor So once those activity opportunity have in to again, we show an would

Operator

Mike next will SVB. Kratky our from come question with And

Mike Kratky

results, could to expect be KT-XXX be at these will new the data we info incremental in presented to analysis there what any and EADV, included new get? Regarding

Nello Mainolfi

No.

I presentation, our summary past, I of the we what past, the it maybe What shared it in we've be the to into as be have in I in will shared. more short the working a that, a presentation, So relatively expect for would we've will on said we're think that manuscript would oral a data. is insights say data presentation. that But given that already also it's

Operator

And Eric will next Joseph question from from JPMorgan. our come

Unidentified Analyst

for is Eric. This Hannah

And you're are planning be in level MDMX And to degradation? are you evaluated response to biomarkers evaluate that, at then the based change evaluate being to that can expect levels on in dose secondly, And expect you you study? dose pharmacologically on that degradation? specific escalation used which these the the how to would doses many being commenting you are as in quickly comment that study. how to KT-XXX wondering begin And at expected do active doses? on Just this time to

Jared Gollob

really on and really haven't at GLP biomarkers mean should other publicly actually levels pXX are dose I if look have to to and the that planning tox bring in way do the With haven't prosecute. we the we activation commented of that addition pharmacology in biomarkers specifics we We because the even ability us expectation to in that regard MDMXregulation, studies, we we're data with preclinical dose included study to, hitting upregulation help want see I measuring on of associated lower Phase that in various it's some into result have pathway with But pXX our will MDMX dose activation. provided we studies, our the doses know, that many are we're you that at are how study sort the downregulation pathway on as potential that the target. on usually to that. an looking based our of have we levels whenever

this these different study dose to built I in the blood we'll be into we've we Phase biomarkers as escalation. able measure proceed that our So with

Nello Mainolfi

if all we've thing levels disclosed the of measurable you the to Maybe always the only I first programs would with at been dosed has look add, say, dose of degradation.

obviously, be study have to expected that in we run So line, see. to the I we but to think

Operator

question Shu Berenberg. with will come Zhiqiang from And next our

Unidentified Analyst

This is for Andy Zhiqiang. on

is, program, clinical I'm The STATX that? the communicated I is ability think program, you make and for there's and that what's And you're window. the therapeutic ideal first available? knockdown or other the so what's orally like them degradation any or question if IRAKIMiD your the question willingness wondering STATX targeting your And for your window just rationale to

Nello Mainolfi

of past, the this more of tolerated. that types. course the about we've lots sufficient tumor degradation weeks where said duration also two over and And well that we've So shown hours question that of -- so then drive of have strong effects in through done variety a the is XX the the XX% antitumor of of degradation to profile in around profile the deep even week really recovery degradation first even or empirically days or or we've is work is wide two you preclinically,

hypothesis every hours but start we're the once decided that we that actually dose a week in that is to two with of the first program. into clinic. particular this Once profound degradation to even could the a So drive bringing XX and being weeks, so we or once able week,

usually it And That really so is oral, start when unknown, this the in by along mechanism. the driven program, With usually species. forward. preclinical around the on if to I we is based And really regards males what mean, start effective the that's tolerated we learned what well and is bringing we both is with we're -- TPP the also way.

the building to frequent of we these because both in the the recovery this both And and to and need programs, been the of compound biological of target the as the distribution to that days manage dosing a has the hypothesis in as and able were for the activity PK well So therapeutic use degradation translational index. multiple fact maintain dose. the of single with we

program, these is are IV you by it least the profile orally it's if So in programs switched type on in to to this infrequent started early and parenteral XXX, are to as molecules we again, do naturally, species manageable then dosing actually a the development every and not manage preclinical activity day for dosing, were which safety. led paradigm, dosing the we've different -- but lot not These At because an and it both more drug, administration. of that of available. oral this we shown it the the two a

Operator

question next UBS. our will And with Ellie come from Merle

Unidentified Analyst

Ellie. is This for on Jasmine

to tumor we MDMX AML particularly as a disclosed that been type sensitive MDMX the has On degradation. program, RR know

when help could potentially you might types sensitive would of we're be? color characteristics kinds about mechanism. be of understand thinking the tumors us tumor the also any this give So that other in Can you that

Nello Mainolfi

question think Jared, the this? probably do you around take was AML. want I to

Jared Gollob

sort think what that is model tumor in Well, And on on been we've what doing our was even be tumor systems, a has tumors? the lot say a presented can where every and though models with types three identify can we that profound the same those weeks in tumor We we solid dose doing tumor have tumors, that question assume solid to MDMX regressions. once intermittently exclusive see we we of degradation solid are of I preclinically much as that can data we AML AML. AML as sensitive to work to that haven't sensitivity

that solid identified to solid cell at types tumor tumor one, have looking very this year those reveal so this what And lines to perhaps sensitive later some number of determine are able we different we could different be those been and at most various those two, us that mechanism. then use moving to number allow the tumor associated that biomarkers trying types presentations. subsets And will have But in are with of patients potential to solid nail forward select as an go beyond we've to we had X. down those Phase to that responsive active also effort are

really making of that solid I get area types, where decision own important our preclinical forging active on guys our as us with really we this of MDMX have think tumor in data-driven an solid Phase for exploring tumors, a we not found end So is path up other us, I. terms beyond sure data, based is before with just and very for research this it's going it's

Nello Mainolfi

disclose that more we would follow everybody kind to as also I encourage preclinical of And add data.

of where MDMX both be combined have call modality it see when mechanisms, patient existing We're I in really, combination covering this mechanisms. systems. these really some both applicable broad think can both can these you three for with both almost fascinating, variety that meaningful with new interesting with agents new -- with would XXX, that of biology, and and alone KT-XXX I path for impact in a mechanism you wide are really

see stay and those you'll the upcoming meeting. much in more medical of So tuned,

Jared Gollob

Phase again, and Ib which study, one then just myeloid we Phase lymphomas. then high-grade in malignancies. And is a We plan second in other solid tumors in AML, quickly on activity maybe a that, we but arm, and ALL our and which also our tumors to add select will have or cohorts And those is one on that having seeing AML I expansion arm, certainly that models. solid on also plan to we activity based based be Ia in of expansion in cohorts, also have see we're Phase preclinical

Operator

come from with will question James. Timur next our And Ivannikov Raymond

Timur Ivannikov

So I just pronation wanted moment. to for come back to a QTC

in of the recently, a sarcoma. synovial our prolongation grade TPD players one in So event reported study four of

about ion streclinically? interaction talked So you XXX in I see could you just that's potential believe still XXX, you've the channel channels. interaction Do the think past, a with did in assets ion like remind effect case? newest us and you saturation the testing with XXX, your on preclinical an for the And

Nello Mainolfi

in you the discovered I industry QT impacted seen confidence that can and since QTC the the molecules. channel, we prolongation as and something it's mean, since not XX small is say that is that I past would So understood prolongation a with we see Ion effect. more or QT class prolongation know, for years we've is we discovered -- we actually, many

the industry, I we that see. have think this we continue suspect and molecule-specific So phenomenon I is a seen to will in

might by you of And exposures express examples I subclinical reach a other have ion response, is And what that with company doses obviously, typical some probably of spontaneously kind it finding, what the often we've the seen With unique, the I is And around which that compound suspect dose. remind and phenomenon. all QTC that clinic. I a that's to that -- don't the subclinical four hypothesis. molecules. what remind several compartment seen in that we four. given not cardiomyocytes across and something to the steady was you initially requires an very which a we've not mechanism, have study. it's where see it all responsive then is happened just that where Kymera, and regards It KT-XXX, drug. a one you in degraders that think of prolongation. several in the want high QT see the at I prolongation, that distribution just out driven that you which have not effect That's to enough is time we've our higher dosing. atypical resolves it's there think we time-limited very been subclinical But think believe state, is the I we it's seen the concentration QT bring example with seen appearance is continued I a said grade different this a know MAD is about different the particular that they've same of I most dose intracellular channel. up with

So by normal again, [Indiscernible]… saying that this different mechanism was a a driven than QX

Operator

And question Kelly Jefferies. our from next with come Shi will

Unidentified Analyst

is This on Kelly. Sean for

have Phase II evolving into with cetera? have Can share the We trial the evolved the of recent the the a recent factored specifically efficacy design, your of thoughts being positioning space, in selection rapidly any a landscape. on question development how KT-XXX, in et competitor data of you of has light HS and endpoint,

Nello Mainolfi

by a higher about driven HS all I we a talking question need, cytokine. believe a don't single HS also. is It's that met great is patients know.

is agents to have. of a IL-XX is that believe don't great the and I will arsenal patients to going So that in I'm tools solution HS. be But that to pleased doctors see work. tool IAS-XX it the

antibodies is great developed that obviously, that we agent. it's believe being both -- And IRAKX are a to be disease, we that and this have evolving uniquely think broad see anti-inflammatory to the and broad an local believe and active and This space. likes oral is I be and well systemic a So agent. of inflammatory the positioned requires class in tolerated

in an an this the we broad still impact changed. disease. active to we opportunity have So of high opportunity There the has need, agent believe a our is view unmet need oral unmet for and and not can have a

we has that trial have wouldn't how design, that see that is seen from on validation to studies confirm learned and we II. primary I I elegant study, want that what of learned believe about Sanofi how to obviously, we what we've endpoints in of our we've clinical really done of drugs. Phase the think activity secondary anything think to don't been changed one have terms are In And design collaboration with key run wants on view our which we've

again, to active totally So and I that there it's great active. tolerated. The an that well see, again, think other being agents opportunity drug in for oral still active space is is,

Operator

And have with Law come one time which Rich Credit more Suisse. will from question, for we

Unidentified Analyst

Grace is This for on Rich.

first the in you with one path combo see and will The combo regimens other and program the any that what's for PD-X sense? timelines make is STATX development do

Nello Mainolfi

agent, have was what We we working the answer the is, combo have. academic that's happening of combined cohort, which in this on collaborators will we laser now we're that second -- antitumor published earlier. conclude the be our and to see a synergistic patients part And regards of here. combo will the some several of biopsies effects. what's also microenvironment, with to dose opportunities yes, to for drive any to also as learning we will happen publish are What STATX the question we're So single continue yes, of when this. we Ia. timing, also to as obviously expansion you focused, escalation we biology With is and machines, after new so the allow when be bit I one know, with beauty had referring with goals can learning can, And tumor that Phase on

Jared Gollob

take more. Operator, we probably two or can one

So be great. queue, if to the you that to would want go

Operator

of Our Bank Meacham with next will here Geoffrey America. come question from

Unidentified Analyst

This thank is for question. in calling accepting much the and Jeff for so Meacham, you Hao for [Indiscernible]

KT-XXX, about you a have If the side implication you that the think for some and on across extent, could you maybe on We recovery the opinion, of IRAKX. Ailos the talk see I talk just data, seen? So helpful some choice neutral touched QXW. so efficacy this, you it's could of for about follow-up to

Jared Gollob

I preclinical MYDXX every and shown mean and models IV PDX of shown responses And our run consistently CDx in models models, models, xenograft we've that infusion multiple that are once mutated three in a we've of both results those preclinical very week in complete we've DLBCL. durable.

-- not in think patient learned accounts, the our commits activity dosing every these nice index we a we've that accounts even comes feeling recovery and week antitumor vitro drop do clinical once you anticipate GLP if of having we're activity the therapeutic targets the that washout to being think population. the that's regard experiments, see to safety, in can studies when I these see confident three that seeing those really but at schedule. to an with week target a acceptable of later. of maximize what from the same why for fairly sort by in intermittent a that drug, that's we're every to ability know lines, dose And while we've to weeks is learned every we cell illicit which even So regimen, an And three responses we with that these in tox regimen three dosing of back mutant MYDXX these the mid apoptosis. next the With prior three that able of still we xenograft to driven XX about cells activity we time, week we dosing And neutral profound models. why the down hours, and think

Operator

with last from Patel will our question Kalpit B. here And Riley. come

Kalpit Patel

it these molecules, been of be to for you might I industry for for there guess to one do early that differentiation recent making degraders. the collaborations developing crucial focus any think in from are comparisons? the Maybe want other specific on maybe And There landscape. you IRAKX what when greater information other the for the IRAK have metrics points highlight? available

Nello Mainolfi

serious. a I of very field and new would Eric year I'm with having proud we're say being initiated

approach. a recognized think you mechanism So case, have and once good to been -- degrader this that it's approach in the right I finally with recognized see has the

advancing. a quite some early We data is We've XX% have the really that was, blood. at I that know it's know which and the HS it's match. a are to AD, think, don't a going collaboration seen is a there hard be in We drug skin in option which profile others degrade both I that and I degrade can exciting molecules plus. to target can exceptional. molecule in We the in DC.

of of at least a clearly, -- a years So behind. couple couple

those look molecules. like. We know what are molecules don't there think just other also I

of of type We haven't seen any presentations any data.

So to hard for activity me And and we're to something we PK/PD obviously, in have molecule competition. safety. really, point it's to also good besides hard ahead match saying really would a further be

Operator

to question-and-answer the closing I'd remarks. Mainolfi Nello for this conference any concludes And our turn back like session. over to

Nello Mainolfi

presentation we continue continued what It's an with we two, both have be clinical, mechanisms large company next we'll data and first-in-class expect then And ICML. I of today. cadence that for we'll to KT-XXX preclinical of across half exciting actually ATB, three first pipeline whole on starting case, we've with the fees of early in broad is programs. more have seven in be And the some oncology the across announced from made year. new in quarter we'll readouts. clinical XXXX, year thanks. discovery to have some where at where clinical about in the really in would potential will Well, want pipeline, data our and we choices disclosing we next for with then in of and strategic years, pipeline, that the MDMX talking XXX in clinical second engine been our our XXX both this EHA. preclinical And this then a joining our at this everybody clinical and and thank weeks, we've when the terms call been platform the have producing when we're have taking data the Also,

So time. an it's exciting

exciting has seven been of fun Kymera more the next be first seven. a The the but will years ride,

interactions weeks. very in and more forward So on looking to thank you the much call being the next few for

Operator

very conference for much presentation. now attending Thank concluded. The has you today's

now may your lines. You disconnect

Kymera Therapeutics (KYMR) 4 May 232023 Q1 Earnings call transcript