KYMR - Earnings call 4 2023 | Kymera Therapeutics, Inc.

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Operator

Good morning, and welcome to the Kymera Therapeutics Fourth Quarter 2023 Results Call. [Operator Instructions] Please note this event is being recorded.I now turn the conference over to Justine Koenigsberg. Thank you. Please go ahead.

Justine Koenigsberg

Good morning, and welcome to Kymera's investor update.

are Medical President our Officer; Officer. morning Gollob, CEO; Chief this Chief our and me Nello and Mainolfi, Jared Financial Joining Bruce Jacobs,

differ assume now are our description address speak with statements to one in forward-looking future and obligation call to turn Nello. relevant forward-looking any no uncertainties follow-up will open subject that will Following include enough the can on results our statements limit materially these we a found to we forward-looking we expectations, Any time begin, that allow prospects. only actual to We call.With discussion to you the to our from questions. update These questions.Before as and plans those ask A be the that, cause made filed questions your over I SEC. to statements of remarks, of prepared projected. everyone's about most statements to today's call risks today's XX-K and recent may and will risks date, today's

Nello Mainolfi

Justine. you, Thank

joining Watertown, for the from As reporting appreciate everyone our our office. we're in call headquarters This for particularly down us always, us that today. our quarterly corporate from new Massachusetts, is we just a in call exciting previous road

to areas to our for future. like who other in to the Our and especially forward scale enhance we of growing welcome visit development new for maintain the offices team, R&D us functions. in provides those you on-site added organization, presence as a as a look critical building CNC space enabling strong opportunity at well would We us to our like capabilities as

we'll topics site know, prepared you a X we're today. main of cover days our X many As on week.During remarks,

in immunology industry First, I'll best our build provide to pipeline. oral update on the strategy an

to strategic medicines.As building Bruce million existing differentiated first oral this well will the the start cash half a into well with comments goals. focus protein know, highly We was immune-mediated program, treatment the with pipeline degrader funded or programs in time our programs. We're only program degradation heard in and Day significant I'd Jared the thought and what program with you dedicated will change early positioning commercial few of on questions, have January, capitalized to IRAKX that strong in and you And immunology ambitious disclosed reflecting and results.At Kymera for our of clinical path value first-in-class early you inspire believe by we're or when genetic innovative early create financial opportunities the clinical drug us that oral immunology in our or programs. call we positioned which And drugged review clear best-in-industry our that biologic-like potential.As which strategy increase indications before targets 'XX, and activity validation, protein our deep clinical particular, we reported open efficacy, an to update helped know, X course, of we we're continue selection it's the all of whether early morning, as $XXX provide been with to And clinical with to uniquely on pioneered large an that paradigms for -- with immunology. for results oncology runway the pipeline to IRAKX at shareholders.As which XXXX. unique to these STATX, for signs clinical degradation, us our represent were in oral also have innovative has We're immunology fully pathways KT-XXX, for Immunology with degraders Kymera and clinical initial addition that a on as diseases our a driven R&D is long immunology in our the of differentiation. on our been us our opportunities first best-in-class is in discuss those newly was first focus the been the current on Next, very focused the have our and solution. with clinical a I it well-tolerated for we strategy. targets of target degrader either support patients to and it led following have best those valuable

trial that platform success Additionally, immunology this XX% survey, would the we of for immunology an a many in for outcomes you been I the landscape important KT-XXX aspect These effective for have in new oral in current patients. particular, oral an creates well-tolerated medicines TPD immune-inflammatory can treatment a the profile. as in with patients be significant that biologics particularly in of costly equivalent recent is and a creates injectable industry to have manufacture in programs.One this are notable read-through market they time, We dominance to antibodies, of the Kymera what, believe biologics. they of therapies can and the taking and for same Phase and context, significant our and is switch with in of STATX of the transformed said cases, inconvenient revolutionized translation degraders. antibody-based orals and diseases protein opportunity monoclonal and our activity as clinical At the of informs of serves put and be fidelity TYKX for the probability injected, believe great know, opportunity patients.To

molecules potential offer In don't these same but with shown believe small have with degraders and fact, powerful they pathways at of the small provide the have as the protein level.We and biologics convenience the ability pharmacology flexibility that data and early cannot oral molecules. biologics-like preclinical unique match a specificity solution activity, clinical with have to of while block to frequently benefits, they traditional the

as reach to broadly convenience believe and biologics believe as that comparable enormous. modalities potential the specifically.So if of opportunities we of in Kymera immunology pipeline, but think portfolio profile, creating our about the we for that is because we much potentially the can, inhibition significant this we patient can a dosing, you molecules Importantly, oral with build for we they populations, can pathway one provide believe broader

have the a resulted in I'm to innovation to pipeline, commercial unique it of execution pipeline. and detail clinical across our and protein believe and our technology future happening the will approach one We yet robust, proud lot pipeline fundamental continued industry. this now our activities opportunities.I in address including pass edge and using of We're Jared early clinical, haven't pipeline needs at our to plenty the degradation of we that that really you has in in disclosed. through growth.I of Jared? our very team walk to the most clinical support high-volume more soon-to-be by cutting

Jared Gollob

our KT-XXX in Thanks, In our initiated expected the fourth be X quarter, II Nello. line top both to X ongoing first partner, X Sanofi, with trials the and reported IRAKX program. in trials, dermatitis. XXXX. Phase of suppurativa atopic is Enrollment data hidradenitis with Starting in half in

have We in HS program. of for are received. Importantly, that trials first collectively the $XX year, we development we million from and milestones dosing late and which and last patients this about with Sanofi enthusiastic already start Sanofi, these disclosed the the AD earned of we the potential

STATX, been pathway this explore central year. to clinic later is the targets to program.Specifically, addition degrading once-daily all to Type with initial we signaling IL-X/IL-XX we believe that to slated discuss indications, X in plan potency to well the Day, we STATX of an exceptionally is fully this in and studies, transcription our the more set phenocopying full programs. able of selectivity. X STATX, exciting indications, particularly human have selectively supports will in additional What a pathway are contexts pathway now and this upstream R&D dupilumab importantly, details relevant as demonstrated is we oral pathway the and our our has we that such data continue compelling share level picomolar have announced the can block inhibition preclinical inflammation superior shared enter driver IL-X/IL-XX dupilumab. IL-X/IL-XX preclinical the as preclinical and the exquisite pathway of which At to of single high is potentially we degrader, we potential essential believe what X allergic immunology this to very future.Moving KT-XXX our In only, program and validated. makes this we and recently biologics factor the KT-XXX, in confidence cell in enthusiasm we diseases.By

as would this us for are very we demonstrated preclinical potential indications, setting, that models biologic-like clinical also which of be of we deliver clinical to to program data gives have into poised be confidence we strong in multiple clinical replicate with programs, well-established something high able the multiple advance a KT-XXX accomplished this year.If stage We later our in KT-XXX preclinical activity the activity trials best-in-class a in our therapeutic opportunity. option is multibillion-dollar we to representing believe levels

interferon, to potential could that We lack TYKX molecule IL-XX, function currently of small full biologic-like XXXX degrader. of sparing pathway which inflammatory to X we have Phase are I limited also overcome type TYKX half human We diseases. first-in-class autoimmune target the KT-XXX while us has IL-XX IND-enabling a lack expect to an potent engagement of believe to degradation also treat due believe the the a the advance potential studies and TYKX inhibition believe from best-in-class near of of in unveiled of selectivity, recapitulate second data type the activity of limitations IL-XX, TYKX in into testing XXXX.We recently midst study and to of with in degradation agent. a and/or oral range potential of has biology inhibitors, X profile, our interferon.Importantly, KT-XXX, We creating also allow KT-XXX TYKX representing of and opportunity loss against challenges

programs the starting Dermatology first-in-human move XXXX.Across medical into we to Our is preclinical from at this program American present of data our STATX Academy the intend TYKX Meeting year, Annual portfolio, scientific and plan immunology meetings to in with next and this multiple studies month.

our in clinical Phase gears oncology study, the as as I these we KT-XXX is from also to as year.To We multiple of to to plan switching Phase from next summarize, in portfolio. top planned which, data data data half the later mentioned, expect KT-XXX share from well first XXXX, start readouts trials the XXXX.So line programs II

expect line have and and We KT-XXX tumors expectations. escalation readouts data in programs are both in activity for demonstrated and this year. dose progressing antitumor KT-XXX our initial through proof-of-concept encouraging with additional solid liquid Both

to STATX response gamma of tumors showed our to strong preclinically and generally associated KT-XXX's data STATX engagement as with a as Arm in was activity solid solid activation potential well blood This clinical single and seen lymphomas objective share disclose in A and the signs trial activity response anti-PD-X and XXXX, a is tumor tumors Ia or of CTCL intent interferon at our an in doses hematological and reported antitumor the preclinical tolerated therapies.Our the agent of in really KT-XXX, November, as KT-XXX, supports translation of solid in of December, with both development in targeted the is for this malignancies in We as hematological point, in data well target we lastly, substantial clinical the toxicity For small at initial program. blood anti-PD-X molecule of traditional enhance early both dose ongoing. tumors exciting demonstrating lymphoma, MDMX responses is antitumor degrader, as to and at and the lack results program.And ASH Hodgkin's we in and And degrader. knockdown Phase induction that potential to plans the combination study will shared complete were as address tumor.Our which evidence demonstrating with our next novel therapy a shown other pXX well drugs. another to phase that believe pathway Phase in for of escalation we inhibitors. Ia

program. with the at point, STATX, malignancies, that in AML.For we XXXX, our is which We for complete study, with in enrollment the progressing we arms plans both development of myeloid high-grade for will the we with escalation in of next expect expectations. also our including dose to phase commenced line enrollment patients for announced disclose Like Arm B

As the strategy solid selection that liquid data to this later studies.I'll we financials. part patient expect of a review and a and of translational over inform to development preclinical and ongoing comprehensive the Bruce? Bruce future KT-XXX clinical year, also QX our turn and tumors now clinical for across plans, will for present presentation

Bruce Jacobs

of the quickly the back press the can Thanks, review financial Jared. the I'll release and today. quarter fourth results, certainly you tables in reference

XXX was other spend of of We comp earned as from million, we of of our HS Sanofi. received that, in received to total advancement of up quarter, the the the with mentioned, was II on million in expenses, in the from receipt about in G&A potential million portion million, the then received $X.X stock-based early years, fourth quickly the $XX remaining respect year receivable Nello receive AD, As fourth million. $XX.X the the added the into a was any ago.On reflects The million at that several quarter which was revenue that consideration to At of R&D adjusted comparable and we was with revenue year-end, operating the XX% Phase excluding quarter, total compensation. next recorded that were milestones.And with our R&D part the the in the balance revenue that million. trials milestones sheet payment for $XX stock-based the quarter excluding side, deferred end spending in That $XX cash a $XX.X XXXX.These balance Sanofi growth again, to equity $XXX over then recognized under expect a the milestones offering the that our approximately collaboration revenue. received for deferred and to to and was as and noncash $XX.X quarter the the partnership Of totaled as future first data million, cash month mentioned, II XXXX, approximately to data, That from enable net KT-XXX answer stated oncology our a quarter then points from critical several be the Phase early any X and And brought was TYKX that $XX million, that finishing for end will runway adjusted the proof-of-concept is now the into of results $X.X our year that G&A year expected million was in you this we cash balance our last of at million. terms in a happy half January STATX inflection of I was for next stock-based of excluding up noncash today what questions. of readouts, it And X% million proceeds that's and prepared referenced as to the of XXXX, million, earlier, including, we'd the and which our balance million $XXX of year-over-year.And $XXX clinical remarks. deliver it have equivalent and Sanofi programs.So spend this us increase provide including is comp unaudited the with stock-based of stage our Jared $X.X $XX comp. as Operator?

Operator

The comes [Operator Vikram Purohit from Instructions] question first from Morgan Stanley.

Vikram Purohit

We both immunology. X, on had

First, next the how XXX. you pipeline year wondering if to that a and in next bit of with clinical was assessing and possible, prepared where remarks subsequent feed think for and XXX. decision related for expansion AD the the get potential to What into to your in going be getting data sets go for alluded XXX speak year you be this To will to Sanofi what's about next from a similar could about I question to prioritize extent in be development the you we help half HS initial for indications I&I molecule?And to data with first indications? so might we're going you how then

Nello Mainolfi

Thanks, Vikram.

I'll start. maybe So

with collaboration as is a just it's XXX, with more because in Sanofi. know, this you bit challenging So

and But that So years as things why actually, disclose this the XXXX, past, programs we're not today and several 'XX. STATX were we reason IRAKX several in the program we the first we ago, the around liberty decision-making to in said built timing. in said

indications opportunity tolerability in idea profile.So possibility there's GI. could this anti-inflammatory And goal, be drug been generate to with disclosed is the a probability the it one always skin good the be develop of could and our be and potential respiratory, it could after, beyond some So go a move broad degradation to high IRAKX around we've indications. rheumatology, could that other

indication these inform I about spend Sanofi, probability value believe -- early ready disclose actually happy shown forward, do the the question. path are So the decision-making -- our hours so.Obviously, now STATX, dupilumab.We've think feels diseases. -- match longer-term Phase that the that it's studies. I with a months. for I necessarily on don't early like clinical with it's think months, STATX can to personally, match skin characterize could success of upstream Maybe be drug level of been few would when will phenotype. activity for of preclinical it's but type I obviously, that we'll we're I us to to mean other and confirming that then talking it indications. to your in confidence months, activity will that's a TYKX, our I as just how Maybe that types we've a high can think it and the bolster such high saying safety degrader this X of level, But studies few the move comment into in II we I today.For partner, we data is oral antibodies biologics-like -- of It's proposition with monoclonal beyond other

Some maybe to potent it argue but some we would have we're context, more go in there. than don't

plans pretty front a blueprint have us. in we of of So development exciting

-- is a to allow the the think, we would translation biologics us, the are what ability for again, inhibitors humans match the very well-characterized TYKX And about it's other know that this upstream I mechanism. year which that that things. We I later with I in strategy are other programs, we'll to have be knockdown, we've inhibition say pathway beautiful predictable go missing, several we biomarker that talking do. done safety, of TYKX of elegant will think we've then type target imperative and validate think with I briefly, that we all seen PK/PD.And us into for demonstrate other predictable as this programs this,

in target block other the Some like genetics, sure, function what happy, for looks are then more [ the functions.And and Phase and will are we to know share phenotype. And our we what that's engagement And scaffolding so some all confirm selectivity that us plan. based we're all his ] of a ability loss on late Jared details good like development looks like human about I'm to once be team is and tests there, in want to what I.

Operator

line of next the Guggenheim. is The from Schmidt question Michael from

Paul Jeng

This is Michael. for are Mine on on Paul KT-XXX.

is in solid for ASH one on tumors. bar that about pursuing first believe the X/X of I had disease. your with development the the data So stable patients

further So to rates stable biomarker of be would Or program really the is solid and then valuation autoimmune pipeline? STATX data in need just before commit see responses evolve for combinations? to would to and to higher making into second into some you put data current objective And further now your disease are to of sufficient for tumors?And commitment? thinking how sort advance XXX you waiting your does

Nello Mainolfi

to comments Jared, the one? maybe, the on I'll take So one. do And second make you want first then

Jared Gollob

Sure.

see regard will patients look combinations either the interferon with as that what expect inform continues a combination preclinical tumors be studies preferably combination responses give think Ia also with in we and Hodgkin's to continue as We're dose responses, if enroll think moving tumors, can to shown additional this we you our continued of along, to and interested anti-PD-X on on patients tumors.I patients bringing signals promising and idea solid we'll major bar activity of this we we've approach, our study on be a regard lymphoma have I cutaneous blood, tumor that with guiding we're to who interest for we in biomarkers even solid or we monotherapy to noted, that, further combination And of do as Phase solid lymphoma on forward very be for with onto study, that as sort T-cell learn will that especially better tumor us. would we interest on we the some continue those some data. our solid stable gamma targeted based and and whether something been a as opportunities anti-PD-X. there to And a all it can to preclinically preclinically.So can to have hematologic on think in actually looking as based continue, major to course, malignancies, escalate what for facilitate had we ultimately, as is what that a induce is we of move agent activity solid your we'll into response I to at combination monotherapy, of tumors, us including disease. patients what us, question in continue had which And be we've responses.With the are explore disease of well. to and activity ongoing stable bring seeing to prolonged

Nello Mainolfi

the that to Thanks, We something great. together are That's Day. and unmet want at Yeah. Jared. also on back with needs do the is go about the to that our technology STATX be I&I, done and the R&D maybe I commercial, cannot believe would technology, And opportunity say that other this we bring I to talked we've to exist just technologies. things strategy, with which clinical, of both the power

I that way. these that on that are why And been proposition. I exceptional this of we feel And so with one.And we disclosing IRAKX, degradation I we argue that target to in. years. X marry feel in you've have well for with guys at details those at you reason because this this far.And than think seen the we STATX, to several -- haven't at better anybody also our we've only go of very, point, on more would point, least easy I&I another TYKX, articulated guess know STATX STATX I when will hand So to with working seen unmet the us all together, that it fit far. a more. in we disclose I profiles of so when hope tolerated, profile When the that the and would think programs complete type technological say anti-inflammatory don't end does And to so we'll need, it's do able we've type -- articulate being of to a do targets as able all and to going be we're very the we you so, are that program obviously value have is lead information

Operator

question comes Merle next from The Ellie UBS. from

Unknown Analyst

This over Ellie. about Or given success your and your both is whether Jasmine that on each the be for would the What's on one take in and STATX your into no-go would II? And thinking you other, you'll what for latest MDMX the Phase for prioritize is program thinking thinking focus go on immunology? decisions? threshold

Nello Mainolfi

you. Thank

were I questions. think the think there But I that felt we I I'm there X people. got question. sure were anyway, similar

So great question.

maybe to will almost we've saying be decisions X with our data the start past all at that driven. So that years, done everything for Kymera going are as I

and large that in behaving for our extent, obviously, was even clinical, whether to we'll well data, or the So molecule rigor example, we for apply oncology. these driven programs that and in was decisions XXX, ] was of -- tolerated, for all analysis to commercial by also though and are example, we've pipeline, even well same programs we made landscape in the a did.So plethora immunology discontinued, [ NPP that

we X need in us said, of in we've say, invest be programs, order to to front see As for let's patient in oncology populations. these to opportunities able to impact us broad in,

only and exactly driven I is say the shown disclose on in strategy probably that is be STATX, this small We've an will has an year. to should at not look generally we the really programs MDMX, at are in tumors of later level.And opportunities is set active it'll have target together clearer few look more both later data much to year.So will data, and is our year think been later showed think an I We've December shown process we when that before, be. for in active we've in show decision-making that drug. which for at November, both criteria go patients the wait our drug. able heme I we're data will What totality when like. the ASH. in what in in solid have what We'll by shown the And will show we the be also more going think I this data for the much active a we something So

Operator

the The Bank line next from question America. of Meacham Geoff from is of

Unknown Analyst

strategy prior for to for for on you programs, the look data what This the and and immunology what TYKX the selection maybe Geoff. through kind is initiating the Can -- commenting IL-X, going of indication is you're on walk or competitive us the the Susan first-in-human just STATX sorry, to maybe landscape and specifically at studies?

Nello Mainolfi

this more we comfortable don't not that development about it that Okay. I competitive. information don't -- at reasons.One, needed. I This two, because is to I point this feel been and least And for we which talk And is want STATX get to landscape, we think studies, have about disclose message, for several will just the you as high TYKX, are as consistent at point, in really to our necessary so said, level talking I'm at it's later volunteer has that this take be now. going into to for with clinic our believe healthy

been say but say, that -- oral a as just well-tolerated believe at STATX, want has high what level, So approved are dupilumab which strong indications level is I have, drugs activity. in there well-tolerated to that the I in high for don't I

from asthma, because a drugs So them I well-established rhinosinusitis others, soon they're have for we chronic indications. with area and a have of actually good all in AD, name potential safety hopefully wide COE.There that oral don't profile. is COPD, a variety to huge in space

that more development our actually inhibitors, say and believe, peptide different are is regard right of design we interferon our to in data Protagonist/JNJ, several that going we're how more get now the TYKX So as and biologics, well while especially terms there molecule biopharma while timing room in we once obviously would putting that IL-XX going trials small be position active. a you'll is molecule trials.With into plans, an recently a investments be match it's I forward. as to would there, in immunology, see those to also able, seen of well obviously, all single unique really from disclose TYKX, X of from landscape. IL-XX of a tolerated indications type we've we given competitive And our large there are But actually competitive is still to oral really

the to fill I we're so is gap our that And think that with going programs.

we the but So as get they come will patience studies. design, the I on just into Phase

Operator

from Leerink. comes from The next Smith Thomas question

Unknown Analyst

Will on Thomas. the for trials. This and on A ADVANTA ZEN is couple

If sense and is what progressing are And you like? enroll on thus any information wait you patient how just those until a complete then to I trials, release? is could give has follow-up. to that data And enthusiasm the us planning have or looked for when enrollment share of willingness enrollment the and a color far

Jared Gollob

for the Thanks question. Great.

know, you those Sanofi of both is running trials. Phase As II

there on are sites right that say the enthusiasm with studies. those various are global These of see first meet the year. you those publicly If those stated half That's being to all time the time half track.Our on you are on next can on now really can which estimated is track is look is of pretty the are regard for staying significant studies, knowledge, completion still clinicaltrials.gov, lines. both much studies how our lines And for of primary of to sort we both engaged. who to both in understanding

And of think in from in that's terms been engagement. heard site Sanofi of terms so I we've what encouraging very

that in sharing that exactly of think, how will stated those would year, the again, still we're think year work data, so are readouts in lines.In be time And read that studies will when the out I on of both Kymera terms will something first occur. publicly sort Sanofi of expecting of those half of next out look to need next to terms and that expected I

Unknown Analyst

Okay. That's And helpful. as well. [indiscernible] then follow-up

Operator

The from Jefferies. comes Shi next from question Kelly

Unknown Analyst

could indications, for and will required will And the on based there confident STATX [ you that in the indications, your targeted think that And data to to the I&I be to have on reached with of are is escalation threshold for experience a preclinical is you have for program? you you also the efficacy? human able thought how Are in XX% specific dose oncology And disclose status into able translate share indication also the oncology achieve? -- you are degradation also, Kelly. you This data? Yun degradation like XX% ] clinical that MDMX you

Nello Mainolfi

questions. I of them. I think with X But even so lost oncology the track program. let's -- start

generally updates obviously. provide in not disclose meetings. calls when is updates We we provide recruitment try medical we going. data, do target on to So how And these quarterly we

to -- the XXXX.If you have STATX, very it's to manner.For be through of now year we're the seems update to we full abstract targeted degradation, look that has degradation. to So look the of here, where commission our at should far, just will the earlier. plan MDMX, and a programs because and know, and targeting molecule, the of exactly the from be getting design impact each preclinically there disclosed the hear you study and a obviously, provided.We that seen reach what reached to happened a translation meetings but to this in conferences, is an escalation able there know not at design testament those in need at predictable high you place love within be on we're we meetings confidently believe continue really But that's which we so really will where. say And dose medical both we as presented above we've the later in our MTD, for because we're share X positive a targeted is we just for plans, as

comment hard worth to I we it's based patients' for in shared think X November. that X, of on data us

next stay where be with clear are it'd our we for update where engagement. regards target to So just tuned

look you have both in look deck data degradation all with we've programs, XX% if profile.With good think you STATX, each reached one XXX, patients tumors. complete more R&D corporate than we've our I today, immunology, around reached With or targeted blood. at we our With our or that actually even -- reached blood whether oncology more, degradation. XX% clinic on on depending of a the targeted we will and or our in safety IRAKX, in if reached degradation programs, see you our at

how our and know molecule the really we design well those clinic. profiles So translate in to

not TYKX, and immunology for just profile STATX the here should about same thing that at our the we're in that in what preclinical to Kymera.With in we one concerned is profile So that that seen the is expect happen like what regards way, is immunology, you've data.

AD those You've models for asthma or XX%, anywhere example, for can even models. you XX% activity preclinical, STATX example, and seen that if match degrade, you in between dupilumab

late-stage know we lot doesn't TYKX.So Phase So the past, IRAKX once dose the in do target need data, degradation, will like you it our I similarly like as in look with done we but obviously the complete design, but target STATX program I and about a more can we've clinic, that the immunology. complete generate exploration can will, removal, for we what is talk design we look

Operator

from comes with question Wells next The Vogel Fargo. Adam

Adam Vogel

Derek. for on I'm

questions a through data arms, from data in be or the perhaps reading then just your in oncology partner to KT-XXX? And focus either Will XXX looking what future? us you maybe out efforts both So further you from you pipeline. I&I, us on XXX given B? quick share few in A Can from be deepening walk to will and expect with you

Nello Mainolfi

right. All

first. one. want take you the just maybe second Jared, to take one So first the I

impact. oncology could So translates hope really turns it, a that the us, for pipeline, on if for invest that I large data, those you is opportunities are we believe that the if at the and pipeline, extremely It also all our another return unlock be MDMX, immunology to believe investment in of think analysis, preclinical we programs. if program valuable be these think need programs current way our philosophy outset.I based biology really that in-patient program. by in think that on -- can we we decision valuable at our on to programs going about our based look to is driven out we that and

commercial, tumor unlock For also will around the expertise in that terms I discussion of to the conversation opportunity, I we're late-stage if type of think and still that comes given company. with the build solid want early think partnering an of we're STATX, we able clinical to be too.So what the case,

we point, think hopefully, won't anymore. be asked some at I

other stage seen, can You disease company. successful do only the naive. And we're multiple one navigate trying not one all commercial areas, because build can are as the large but you've versus to a we also

late-stage one we're understand that said stage, already committed And in in clearly of makes immunology. invest we heavily much that in at so to capabilities, probably terms area.We've more sense it this

think right in that, is for the value this the if to right that through. program drivers fits key one positioned to if can are able wants on but these the question what data I you we value of with the to And believe we are then so collaboration a company feel creation, own value oncology, maybe the the XXX. advance reserve programs our Jared, or best drive of this of also being on can proposition do the now. type philosophy program Kymera comment that And programs that we on we maximum these

Jared Gollob

Sure.

lymphoma types we're in And at across as then Phase year. A myeloid trials XXX, and malignancy present for update both high-grade for well those as this that and on year enrolling mentioned, meeting complete medical in yes, XXX XXX Ia Arm the is you enrollment, later the MTD, and plan studies, in would So course, to as of including. AML That include, the the of establish dose B. both our an data we're a Arm to to patients escalation solid tumor the

of to to of in efficacy have next and to programs.As lot earlier in for into upfront, where profile for also types of are and terms Ia kind we work development of insights to like go us also mentioned of enrolled, Phase seeing patients doing both clinical the what the for on next what really preclinical safety I of been we development. work of look So both does in PD selection, we've whether what and presentation clinical it's give patient to stage work the show start the for but a XXX, want the these we understand remainder steps

data meeting sometime think I also so for opportunity, think those year tumors for a either further get how as we to present we're patient solid and/or into medical about with XXX. well this an And to selection liquid potentially looking at insights

Operator

The next TD Marc from comes from Frahm question Cowen.

Marc Frahm

to but when decision. Sanofi their or IRAKX, you not, next have guys we own opt-in will also -- if with will Nello, you make get have decision forward, year, and well, move guys chooses data of an the Maybe, Sanofi forward will going

important commit the from of you and kind on? are approaching exposures STATX kind how is would how resources you data the early that decision TYKX to that to want opt-in? making of Phase of What you and So see do for you seeing want the And kind IRAKX? Kymera's I

Nello Mainolfi

and question, very answer. great a requires a nuanced That's probably

short So I'll try and do the we my in best have. time

we just So said earlier, IRAKX. are first, as I extremely on bullish

has be drugs inflammatory the potential proposition only largest the data. value with one diseases. Our to in This of has grown more

know We Actually, with is but how we're just until profile in be we well-powered randomized data, safety Sanofi. which honest, that study, recognizing active with what have I we doing positive we're to run it's X active as good are this for drug, here don't is, that, this oral early doing a all of we think and drug proposition earlier, AD. a an in value I well our HS indications beyond them.The view, is go said drug

decision are the the are right. downstream, us, think that time it should these profile. of it way would positioned the the only the the built. end company co-development, of that that intriguing, will so very We've phase think vast is our if and exciting a no that back early done financially be it the drug but analysis, the on at even view And in might value be growth that Again, means, the that that not reasons our a opt-in collaboration the though be fulfills sorts the that opt-in all we while different is this we've analysis cost -- this bit sustain see value X, way we're I is all believe where doing is and company can no-brainer with the capital company indications. mean, our created creation early pipeline. to be the more I the we if we expensive TYKX, support for only.I today, have if obviously believe the I support to to growth by be we is that easy.Yes, But will which go so programs to that Phase of profile, drug the that drug STATX successful and suppose fulfills the continue we will, of when can is for we done

this So answers that hopefully, the how that's question, point. at we're but it viewing

Operator

comes Brad Canino Stifel. next The question from from

Bradley Canino

data data patients, to any be the prior process, watch? be to disclosure MDMX in to decision-making maybe is a of will broader disease And disclosure, just types. This scope more expansion the just It'd you in great development elements at key for questions outline the clear would thesis? that you really present position an the flag terms on be get of year. this of the Brad. Perhaps expect of you And to this in to a

Nello Mainolfi

totality high of and to disclosure of But so. think our I specifics clear just our willing our maybe which comment I'll do some we're level, from press plans, then was release data from comments from and enough more So if earlier. -- let Jared if he's hopefully Jared on the

I large, program escalation in patient a think we're to that So XXXX. leukemias, And lymphomas sure if on 'XX be be those level we releases activity have to differentiated complete for space.I from we should -- but smart is data sets, think attention hear things But while this hopefully, from that's and enable data? believe[Audio in what the others The and of should around together the a decision this work are there, be development share believe sets. that investment the data those, But high is able we come we're expectation.I think many to lot continuing programs the have the data excitement the also we and married Gap] those a immunology with dose doing drug, we way that these different. totality because things of build stratification together also data Obviously, the I and data of both around depending set close the also those impactful in think XXXX would paying want obviously be we all develop I let's the call to decisions totality a, programs, make solid then it, to of suggesting could a of that I those data nuances both a no-brainer. come to extremely year, if us will sets, the

Jared Gollob

[Audio that Gap]Comprehensive in update We is this here one on therapeutic small safety, is premises PD going molecule inhibitors. molecule mind have a superior from differentiated index important Keeping MDMX that and we to that inhibitors. small the of efficacy. show to again that want be to is very MDMX

efficacy.And going that aim from a molecule show safety able be hopefully solid a presentation very is account our set data what to and inhibitors show part potential potentially to this in sort we both tumors strategy, that forward selection to a differentiated are into of on is so do that which we think presentation as as well takes both what also real I MDMX I. with to potentially be And will small well the patient that Phase our liquid in superior of important for superior is establish So drug tumors. and separate moving marry after

Operator

Riley Securities. R. Patel from comes question next The with B.

Kalpit Patel

for and TYKX One STATX the program.

coverage Can shown proteome those the rule in effects. selectivity were proteome rate those confirm from what studies many and how proteins studies? You've the the was data out share off-target and you maybe identified to study the in

Nello Mainolfi

advantage actually do cell run going these going every maintain we're But And we more And We that here. north to not can of usually we doesn't program. detect we proteins your study. our we're today sensitive we about on what honest, else to to -- that based several quite to proteomic be in question.So what want across mean we're studies. answer I'm types. any we've just Kymera, to share in to look XX,XXX have going share proteome data not so on So high competitive at coverage going be,

were because cell diseases degrade the PBMCs I in And hopefully, believe, proteome, for say of actually is that types, would shown, what cover true So STATX. slide And one for after. we relevant for XXX% bind as IRAKX, that's STATX. the actually number we us wrong here.So going are get really for that the in roughly, a know, to whole we've only TYKX consistent. the always XX,XXX believe to for we're We more in which, picture and we go program But proteome. also the the the I proteins many seen cover really it's STATX. didn't order And and you've the across so actually you I our of we the

Sorry, I can going. keep

Operator

Research. comes The next question Andy with from Wolfe Chen

Unknown Analyst

for the guess KT-XXX for is you just the a on we're see market? curious and Andy. I Emma how entrant just on with market weaknesses improvement current TYKX much on there TYKX, is with focusing This inhibitors where headroom potential degrader like into

Nello Mainolfi

[indiscernible] weakness. The

Sorry, I didn't it hear well.

I layers there mean, before, said as we are differentiation. So several of

scaffolding full is inhibitors, some inhibitors molecule of these and kinase allosteric are block this that that So not the function, small the the first function. scaffold there but actually function also

and profile, matches, the the where marries shows phenotype of type. basically you the molecule, loss function loss IL-XX. slide than X And sorry, to the actual to versus spare with -- wild so a and function inhibitor is which loss interferon even allosteric shows versus IL-XX deck means have block kinase our dead profile.We a kinase type of of only closer is function of in small degrader pluses And we inhibitor, the that IL-XX,

a right order the so the profile. the would pathway the able able, believe shown that the you that in blockade, by an maybe find and be also Other allosteric the the we've pathway with but have inhibitor hit in blocking with shown full mode big able have they're it higher to is detriment compounder to engagement. impact also that and the So biologics. match should actually say, with approved, JAKX loss GI the not of at of a very they all play IRAKX, more, STATX, to for match not molecules function the around selective, IL-XX, target target also block clinic I indications.It's doses a reasonable as you as function we and is not we which selective, now, again, profile, so we've selectivity And is to upstream once drug fully, approved impacts is should which scaffolding be is actually

don't type molecule.So So you in We PASI X to at there. into the single get IL-XX biologics, the yes, biologics biologics in XXs, the in oral is translate maybe clinic? going mid-XXs. pushing that example. a psoriasis, interferon don't they the into reached So the XX% number, XXs, Small to They look XX, a close -- what of get molecules have right? for if

slightly or we're we maybe the inferior. that I It to is but might fill. So think that But filling degrader, extent we we have maybe that a don't know. can of a going be of superior even our biologics, be gap gap actual with goal actually that

a we clinical a and we all differentiated have drug. is that I to meaningfully differentiated in that saying think here clinically is that, confidence will we profile, have experiment run.And have a that we're that biologically, result

Operator

any over to turn concludes closing This the to would remarks. for like question-and-answer Koenigsberg session. our Justine conference I back

Justine Koenigsberg

In we'd the call. hesitate today's Thank you. Thank on you you. are Kymera like and us please look any out morning don't forward thank following to our there And everyone the joining reach meantime, keeping questions this if behalf team, to progress. updated of on additional to for

Operator

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

You may now disconnect.

Kymera Therapeutics (KYMR) 22 Feb 242023 Q4 Earnings call transcript