KYMR - Earnings call transcript Q1 2024 | Kymera Therapeutics, Inc.

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Operator

Good day, and welcome to the Kymera Therapeutics First Quarter 2024 Results Conference Call. [Operator Instructions]. Please note that this event is being recorded.

I would now like to turn the conference over to Justine Koenigsberg. Please go ahead.

Justine Koenigsberg

you. Thank welcome update and Kymera's to morning, call. quarterly Good

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

time open prepared our to have questions, limit you remarks, ask will your X to Following relevant the questions follow-up. everyone's address to we questions. call To that please we enough and a

risks and discussion prospects. like results will I update those statements With may Before would that, the to future and these made remind of today's expectations, over can that XX-Q call. that date, our recent forward-looking we any on in A assume projected. to plans today's turn now as filed forward-looking to most include to subject today's no obligation These statements of Nello. are from uncertainties risks about forward-looking SEC. we begin, be statements to with statements call you description differ the and materially found our actual I'll Any speak cause only

Nello Mainolfi

you, financing we our It's clinical R&D very and XXXX, development subsequent and beginning of our capital provide with been in in update Day everybody. Justine. January Good productive starting immunology an pipeline. growing a a will extensive Thank invest that to morning, at efforts expanding

rest conferences. for and as the expecting been on as time plan quarter our update well a catalysts, as and news of engagement well external early preclinical a this and 'XX. Today, and we're as has share focused pipeline across medical Past of on programs execution our on lines year is through clinical both our brief variety to business

clinical a company, and opportunity existing the medicines the with the believe this the significant new evidence a Many pathways case been expand immunology And mediated of selection compelling are focused back to taken molecular without a limitations, markets paradigms that all biologic for approach we these we within in due critical [indiscernible] drugs. degrader success on play and dominate the not pathways year, penetration. to role these activity, to strong earlier differentiated and/or through biologics genetics, we target they many a in activity. often we timing key flight it disease molecule pathology. their have developing which of human injectable by As while Has way the small can have treatment approved well shared are to instances validated limit address of

an a expand in are believe these convenient options profile safety we represents opportunity result, agents. good activity a developing enormous patient oral to injectable dominated by and markets As biologics access currently that with like of many

target program, our broad enter for the patient was clinical a impact. IRAKX pathway simplifies has it and which program development, a Our to first potential a that

as past the reasons in talked have IRAKX around We target for about and for enthusiasm a our rationale our it. pursuing

an the need the large in pathway, is degradation IL-X/TLR we to multiple in signaling node that indications. its obligated higher the block only IRAKX approach creating opportunities met fully development believe is

of signs and we future position In pipeline and to of such from models success. well immunology high translation the our our programs key observed for provide STATX as preclinical I programs and early which degradation, efficacy clinical KT-XXX/RFX deep trial, insights Phase and for growing tolerated fidelity patients TYKX

degraders a be our meeting, and major shared data in of a and our TYKX which American presentations, highlighted poster In Annual and Meeting. immunology support Academy as medical at pathways. significant from KT-XXX the robust STATX opportunity potential TYKX Dermatology propreitory programs, showcase to packages the a oral degrader preclinical first of to March, at KT-XXX, had degrader targeted the degrader we agent as the marked these STATX our The

model. dupilumab to the KT-XXX In atopic we've preclinical in efficacy studies KT-XXX [indiscernible], comparing a highlighted dermatitis our preclinical

dosing, vivo up in EPO tolerated [indiscernible] studies dupilumab. activity or doses in robust preclinical degradation projected above superior the profile TH-X-driven paradigm patients concentration well STATX in human KT-XXX efficacious once-daily safety safety concentration. could showed KT-XXX believe and If information. to multiple we can of KT-XXX we treatment to indeed this was activity, with flight millions the of deliver model, change suffering oral and biologic from Importantly, good

healthy In our terms enter to testing XXXX. volunteer is studies currently doses single intent and multiple assess KT-XXX Phase of from track ascending is to invitations. of of labeled the KT-XXX timing, in conduct to half their move It's on in I and second a X Phase I and quickly study

more and and we We strategy, sharing our we development finalized move the development. to look as forward clinical details have plan into closer

inhibitors was shown Moving was IL-XX, small IL-XX treatment syndrome we is differentiation interferon to TAK-XXX, alone inhibition human X pathway biology of including to is showing poster for Type partners, a inhibition loss-of-function AAD recapitulate shared to demonstrated demonstrating through relevant IL-XX and potency, well [indiscernible] inflammatory as molecule mutation. that as sparing the superior the through nanomolar several diseases, of diseases. biological [indiscernible] which potential [indiscernible] degradation compared important from bowel TYKX to of of interferon which TYKX KT-XXX's The of KT-XXX Type-X compared in picomolar

Additionally, pathway IL-XX/XX knockdown data with multiple oral deliver interferon productivity [indiscernible]. a to degrader I blockade Type potential that KP-XXX TYKX and has with deep best-in-class across doses. daily sustained this We TYKX demonstrates in believe the vivo low and TYKX that

continue medical intend We to to across meetings our updates XXXX. in share and pipeline

data. Digestive These highlighting THX American in was on In the potential [indiscernible] additional built and R&D, in allergic present week poster what Conference are at diseases fact, which D.C. for later to new, Disease the exciting shared month, in both previously San they well its as presentations Diego willing Society this International at treat Thoracic KT-XXX we as

pipeline. a my To intro strongly demonstrated whole the we consistent to degradation, days, a clinical and scalable activity of clinical ago, sum we X years innovation, will up our few since and here, in which finding commemorate just safety across translation milestone, have including

and new modality. concept the for significant achieved We is proof early oncology, immunology a also we have accomplishment in believe both of which

we expanding capabilities and to early commercial transitioning programs global development to pipeline, early the that building we become deliver mid-late to on remain from and team to across our the our stage commercial opportunities committed As substantial success offer medicine our clinical on our company. are ultimately in

important to Jared? data in program. In forward we oncology year pause from readouts this pipeline here meantime, and look I'll near-term our to Jared 'XX. immunology on in the multiple update and readouts ask clinical provide an our

Jared Gollob

morning Thank with immunology an and oncology update you, our then Nello. discussion round programs. X out this I'll on IRAK-X give clinical the

to in studies that share Phase XXXX. clinical being first-in-class be first top on we program Our this oral degrader, line Phase generated II half Sanofi the our we Recall data trials II hidradenitis and atopic in dermatitis. data collaboration, and early to by trial. IRAKX patients the a progressing into position in under trials based moved X in AD are in I expect in suppurativa is conducted KT-XXX of These Phase Sanofi

terms and HS also longer evaluate AD not treatment represent generally and of demonstrate encouraging trials placebo-controlled degradation that offer but and convenient of trials. the II specifically In only clinical the oral delivered for patients effective signs and IRAKX study, to period that randomized transform well-tolerated, KT-XXX complex to to we an inflammatory and diseases objectives activity we potential of did of opportunity the Phase These medicines. we a over study in PK/PD also our dosing safety, in achieve will

noting session start AACR to presented oncology recently switching both our poster Meeting. symposium the oncology. Now data I'll pipeline the now we during the on gears by Annual major that in scientific late-breaking and at

other clinical a and preclinical shared in molecular our degraders over at of past, and for early month the and the differentiated we findings advance support agents selection medicines our generation As the patients. further design, technologies existing target new to and strategies meeting, highlighted advantages of translational validate last

MDMX typical and our that to tumor of highly our most evidence activation suppressor therapeutic in improve Phase treatment dose-limiting [indiscernible] to toxicities, activity MDMX findings tumors. molecule I solid trial and toxicity. small from of data the modulates for compared of the [indiscernible] for currently KT-XXX, degraders hypothesis antitumor and Preliminary common index These potent without pathway XXX initial clinical liquid of with target degrader hematological potential the showed inhibitors. along including signs development the engagement therapeutic is MDMX support ligates

Phase As year, activity this strategy, And see inform we to plan of in these the tumor in to dose next biomarker I we antitumor a types. we trial assess hope collectively to variety escalation data coupled selection finish with steps. our

provide Finally, to later present presentation where we've completed, a the on that had medical data trial in we MDMX, clinical a at are update. June, full a today an we Once in for data announcing expect year. will at set meeting we the accepted is abstract ASCO poster the

the pathway signaling of in undrawn transcription a tumor selective treatment effects intrinsic the cell highly microenvironment multiple as the our hematological JAK-STAT dependent solid cell with for of of degrader KT-XXX, including key is factor tumor both currently a extrinsic on malignancies STATX traditionally and tumors. and component pathologies, recognized tumor STATX, development

tumor. from with data knockdown associated signs substantial tolerated blood trial STATX generally doses early the I Preliminary anti-tumor activity well and of demonstrated Phase that were in at and

clinical some responses encouraging Our showed both in preclinical translation lymphoma. to but CTCL early, Hodgkin's and

to antitumor solid the in in simulation I safety encouraging This is blood, demonstrated activity escalation anti-PD-X in respond tumors goal Phase response interferon given gamma also of and of inherent the is tumors. study ongoing, correlation We to how liquid the gamma which and assess and KT-XXX tumor an drugs. both between with further

to complete to study development. additional the proof to concept late-stage of expect define We deliver and KT-XXX's year this path data

June, an update. that full Hematology later clinical year. announcing Meeting at in a Association, the meeting abstract medical present accepted set the in where or plan to also at presentation had we will present ECOG are the European a we've data We We for

Now the over Bruce? to the Bruce quarter. share I'll financials call for to hand

Bruce Jacobs

first quickly quarter today's XXXX the you review quarter reference release. tables certainly I'll in $XX.X press can financial Thanks, of XXXX -- Jared. first quarter found highlights, the million. the Revenue was our and in

result expenses, to was XX% or collaboration. that respect of comparable just Phase that million, quick about in of for II total . With as resulting stock-based cash to the R&D spend quarter of $XX.X from amount the milestones million, start the the comp, a fourth have operating of we And noncash XXXX. Sanofi decrease of our $XX.X an truck fourth quarter in $X.X last X of the received million reminder, a represented a $XX year. have attributable studies quarter R&D in adjusted received as million the was of in All

our X% for million was which The $X.X comp. -- million, G&A noncash from $XX.X decrease the stock-based million, reflects On G&A comp, of spend -- cash was a stock-based adjusted the the stock the quarter quarter. quarter sequential of comparable $X.X excluding side, spending again,

quarter of Our million was the $XXX balance end cash the January. at first in

net $XXX mentioned, our in we approximately offering. equity proceeds million realized As from we

data enable will multiple and Our runway into data the on including to a first results XXXX. should for II to first in cash execute of XXXX to oncology execute of also I multiple provide will KT-XXX, XXXX expected STATX and several balance that on quarter half programs the clinical is in half say, us inflection of first 'XX, and readouts, us expected that our the enable TYKX proof-of-concept XXXX in and points or Phase

our questions. your for line So if this questions. be Operator, the concludes take you prepared to happy We'd Thank you. remarks. can open

Operator

The first line question Brad Canino the Instructions] from is [Operator of Stifel. from

Bradley Canino

Xa generally, material. we're be biomarker looks the this of out year. would later most data for And completed that the X like would going bites assume I MDMX the to It get year this apple and

decision have be I the and So And the What coming can to it how the ASCO, overlook just investors within you view talk focus? present should should asset? strategy about not trial broader what's for the to at here?

Nello Mainolfi

thanks, So Brad.

on this we the second November, program a of year, more data well half, the then taking as a that present And back, middle is of update made will right the started clinical tumor create we've across medical more enthusiasm the the as believe potential more who the recruit to shine obviously, of important the and light investor both was with arms trial, the just the as in arm our recall, [indiscernible] in of community arm. subset So update community that I patients first since of the development of are we [indiscernible] many an in on the lymphoma to MDMX we give studied. last recruited in roughly can solid and connect as We progress with patients to it you type also to year. if open thought limited and we last patients . AML step continue

development by this So there the escalation given multiple the end investor is as Phase obviously, in audiences full the to and be of them. further dose between in and progress a substantial recruited showcase provide study well year. and complete thought I when November program. as of press yes, year being release, update we the the patients are update a community we this share the then, for now, would The X delta of we the data, But said later good as to goal planned the of

Bradley Canino

Okay. general in this degradation part exiting about And the insights know a then were your Nello, targeted area? therapeutic took love that AACR. evolution I I'd symposium you at what to thoughts of hear just were protein

Nello Mainolfi

that's great a Yes, Brad. question,

first, was you meeting, a So saw great it believe I I there.

with long. very probably attended, [indiscernible] hadn't many If well symposium focused you companies actually presenting, too call been would I in in let's it symposium

in see space. amount it's I so the physicians, saw a great to And and many from interest companies. stakeholders many small huge large of

are the especially sharing. companies with increasing is data interest different of level the think that data, clinical I So

like with target I of selection, home are also the leading terms here Kymera companies of capabilities, came approach. sophistication really that field in feeling great a

And so example but to still others we lot I others for to a are for hopefully, the generally, do and glad follow. providing, I'm think there's that work a leading good of in field,

Operator

next from Merle, UBS. Ellie The the line of from is question

Unknown Analyst

study? about any forward? on And efficacy the And the for guys are you from of for just the provide look of path from guess could the guess, update from expecting MDMX to should what at measures with think be color you anticipate that in development line Sam data I can It's like as kind question, looking previous we guess, ASCO, the extent on I data I the Ellie. we you what for?

Jared Gollob

the that show we've for dose mean to November. a Ia question. since be Thanks is planned to the I made Great. update the for so this really Phase last clinical really progress escalation,

malignancies we've solid been as the of effect information both well share patients data dose share to we've patients escalating been enrolled, share as to that So patients hematologic the pharmacodynamic drug. types on the on goal here as to safety the we've the additional is more tumor with of seeing

impact is in back downstream show an that this on Recall [indiscernible], November, MDMX. of just did we key biomarker, which

whatever on more response our malignancies. that show to clinical So to and that aim patients of we sort for provide response engagement of we course, data with provides pharmacologic and, data is data patients solid information tumors have hematologic have, with

Unknown Analyst

guess I quick a just Okay. follow-up. Great. And

the updates the And pursuing? biomarker patient any going selection you progress there? strategy are of kind for Just color the on guys how is

Jared Gollob

Yes.

question. I think an important that's

see Nello being program degrader think to earlier, MDMX which mentioned is been selection a has patient or who we I part most with to sensitive patients be this sort index so-called we to an is therapeutic important that what that of able of [indiscernible] for with for be [indiscernible] to the in to superior our the will addition selecting demonstrate evolve treatment. MDMX inhibitors, strategy strategy think

patient more is providing will our those provide of If later we anticipation preclinically we at would sensitive that have a that we showing data be to biomarker but think ability perhaps our medical been develop our to progress we'll at those and most don't our a on the informing on be plan ASCO, focusing in strategy, patients selection some even clinical year, MDMX [indiscernible] to able update meeting, particular of data predict degradation. that

Operator

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

Unknown Analyst

what's future for for AD biologics of related your as your studies shift head-to-head superiority showed overall think IRAK-X strategy thoughts data level your Michael. the We degrader. potential II indications. This and results for a [indiscernible] STATX oral to your opportunity agent that for portfolio? bar over the an recent on [indiscernible] on the about other And you as in question, Do wanted against get is DUPIXENT and

Nello Mainolfi

great a It's question. Yes.

that So look [indiscernible], being kinase AD, think [indiscernible] learning inhibitors mechanism. is antivamatory you today in I extremely several only inhibiting I think powerful if we're not you extremely don't across JAK active. indications, see

believe don't learned I So new. we anything

to the safety think at best protein are is that degradation provide efficacy after here to we I proposing what Kymera . targets use profile. to

events. opportunity testing patients tolerated, is blood here of not that or is well or blood drug severe an that does require cardiovascular So have monitoring for oral the monitor to

bar has think I moved at the So don't all.

the for each we a really Obviously, active [indiscernible] -- we And individually. think is I profile. what in [indiscernible] trying are that to both a and IRAK different that's still for program agents have do get STATX that looking oral we're field way. discussed

Operator

is the The JPMorgan. next Eric question from line Joseph of from

Eric Joseph

And will wonder Just focus moving you wanted of to the to get ] moving whether [ bar enough? monotherapy combination you would with a hemalignancy be sense to what tumors attractive be [indiscernible] Or well. is do a little on broader than solid strategically want approaches? bit strategy, development. more of in think a I encompasses your better is stage internal forward for XXX additionally, amenable opportunities as

Nello Mainolfi

Eric. I'll start Thanks, then Maybe Yes. it Jared. to and pass

is to which that reason molecule as removal really why [indiscernible] that I extremely by inhibition So is so view past the the interaction for the types would involved to got with XX has do from have so we us sensitive industry broad we of that MDMX, -- quite pursued of needed. so is are know, is unlock the target a tumor first, years reason or the say to variety seen in in all MDMX, which, small different we a whole -- been our

they to preclinically start point saying, we seen second not, seen Looking to When of across both far be but extremely sensitive as go preclinically let's tumors and [indiscernible] these data, so to say, which tumor say clinical well tumors. solid some have to [indiscernible] sensitivity the develop across sharing we'll cards, those we've as mechanisms. in subset we've

some refractory well is as an we've we activity. of as a relevant given opportunity really opportunity both both that shown tumors, for that preclinically but already for the agent independently [indiscernible] need pursue area combo, think be high the but especially best-in-class unmet this seen that still would we've almost for commercial I AML. as really, single And AML also

I on beyond So to would impetus say a solid the tumor, go AML hemo-oncology. but say I that would also in work opportunity the that is to I to think was want of MDMX independent way,

So we as us can have hopefully in that well. based plans strategy we the on exciting that see you expanding solid with biomarker share

Operator

is question The next of Kalpit line Riley. from Patel from B. the

Unknown Analyst

This is Kalpit. for Jay

Sanofi the [indiscernible] another -- have your into with opportunity collaborate to you instead? could X the the if so, perhaps you The degrader on question why [indiscernible] Just of is company if opted discuss Sanofi to divestment any show with insight program. [indiscernible]

Nello Mainolfi

Yes.

So the we started as say we this ago. years program said repeatedly I again few in today, a past, this

I not have program to that have foreseeable We is we with early ability immunology clear has the we pipeline a global the to partnerships, obviously in to our share but around in this want to to built a our been stand-alone pursued conviction a in from partnering decided have for generally, been order a we oral quite terms heavily communication that that no in days discussions use immunology, list from would company. in that potential [indiscernible]. company program we of degraders our is very has believe . I'm parties But in foreseeable this future fulfill say, going order develop other in And interest as independent -- IRAKX. to future. integrated building our starting vision

preclinical overall behind we clinic, I actually, to agent is first I are first demonstrate company and will an everybody remind agent everybody take of activity such static [indiscernible] in also years to say, the that would the a the us. obviously else the we company

Operator

question of from Andy next line Chen is from Wolfe the Research. The

Andy Chen

on also questions related STATX. Two

you can if tissue about distribution. talk Just curious

and well highly the how primary I'm And primates. is where precedents you're deep translates to several in distribution going nonhuman distribution I'm degradation cite humans. so this see to curious humans. tissue correlated this if curious I skin just to nonhuman

metrics gain acting in the is when to also have on 'XX, first in half skin are of And STATX on determining humans? any exact indeed of the insight this we whether What we going kind topic. will

Nello Mainolfi

a it's great No, Yes. question.

presented, presentation, relation past that at that first, besides So years look shown across lung distribution of believe and those point. skin we've for at few not confidential THX show I'm we all this and in and and as that over the I the we data if that big data believe [indiscernible] in would degradation ourselves spleen our will that the STATX data But preclinical too, our that in equally equivalent that for that's followed we only that you generally we've say, keep drug relevant degrade But we've highly sure I distribution shown, the don't say discuss several are for will allows in tissues. KT-XXX have shown effectively I not or us the and not. because people of [indiscernible] data important we -- tissues we

-- into first data level of different biomarkers. is say and our that, both in And response. of see expectation distribution I and terms is in goal species. I translation half 'XX, seen we've yes, skin so same disclosed, And data, clinic, it's preclinical the blood we the Phase in of would of I good to our publicly will clinical been to the Phase across share the involve

Operator

is of Archila question from Fargo. next Derek line The Wells the from

Unknown Analyst

This on Derek. is [indiscernible] for

of last So the X us question. from on up a like quick following kind

patients like of volunteers? like this only will On of did with the kind concept including including you I STATX a be Phase proof XXX? of how be you will this to study, achieve cohort healthy Or

Nello Mainolfi

point, we said I more Well, volunteers, date. at evaluation we'll initial later today being all that share was [indiscernible] this the a think at

Operator

Rao is next with The from TD Cowen Company. of Divya the line question and

Divya Rao

KT-XXX and This I kind the which, I More both earlier in the continue you're end liquid to get liquid tumors tumors? from on trial, at need is EHA? question, disclosure of then and -- in a is Phase follow-up, you guess, Marc. And year to Divya, solid see of do the of we at completing on that this what the what to for planning guess, the as scope I should development

Nello Mainolfi

question. I'll answer and take first part I'll Jared Divya, of second, your let the Look the

see. we second to need the around part So was what

said opportunity continuing a past with population in a the sizable investment having clinical I patient with is for to clear meaningful path bar commercial our big and as impact. also, So

to the that is be more able make so for answer much case your to opportunities easier a And question would further obviously, investment. obvious solid tumor

I've preclinically, in with as biomarker tumor solid evaluating but we've tumor in haven't expect in already to we're see to potential past, effect data we solid the the tie we that preclinical combo we've single-agent then the said this -- As opportunities. tumor don't activity seen biomarker, that demonstrated

So that is one.

to And antitumor that with be X having a then strong that the reasons. important drug on is for are but as the also [indiscernible] further in sizable Jared, obviously, is activity to tumor worthwhile because it's expanding agent a active you there One, to the interesting, EHA? opportunity. for single opportunities potential liquid investment are tumor us confirm comment do want expectations and bit

Jared Gollob

Recall strong on strong with knockdown that effects and showed data, blooding well showed such we escalate. enrolled as so in far. [ was very very that as that to XX We And as in December, dose of blood clinical immunomodulatory data tumor, response show we to was this including we strong Hodgkin's lymphoma. presented combination encouraging continue And pharmacodynamic well us tumor Sure. responses potential ] in safety indopurian-gamma past ASH promising also predictive these as anti-PD-X. statuary at [indiscernible] as that patients we which had data, allowing

blood as been immunomodulation in provide additional we've EHA on pharmacologic and on the escalating target for So to further to dose around to response data. build in safety really we provide and continue whatever dose and that the escalate data knockdown clinical as provide tumor to is aim data we have may additional to presentation

escalation the year said, we we later set anticipate this XXXX. as be a clinical provide will and medical then meant a final a data in the is in at meeting be Again, once plan to dose then completing later update to

Operator

The Partners. next from of the Leerink question is line from Smith Thomas

Unknown Analyst

This on Tom for [indiscernible] Smith. is

X, [indiscernible]. both have We in

for data in gating is [indiscernible] help me is initiate in KT-XXX, would from development whilst for to expect first 'XX, subsequent X readout indications [indiscernible] the Phase trial I indication? first you be what's the So the half the and factor

Nello Mainolfi

Okay. Great.

we've So press today call and release. as in said the on the

on to that. exactly we're We usually are update and we at So leave going studies, in specific IND-enabling a we're provide don't process. on where it the

So initiating IND I and is between Phase obviously, phase, filing that and [indiscernible]. us completing what's

starting In to terms think possible, said for as we thing have are on penetration for we've focused say many as can I injectables the really where would of we seen low prioritization with indication the many only large indications I is, patients in drug reasons. past getting static, many, also, this as

So I would say but will we larger others. we're doesn't prioritizing pursue mean not indications, that the

I a but think that will just in probably different manner. [indiscernible] happen,

Unknown Analyst

Got and for a year, how well as decision but data need program you half you [indiscernible] in decision? expected with first the of have And next an approaching it. [indiscernible] [indiscernible] the like of opt-in a forward what see decision do also going are or not you -- to to make

Nello Mainolfi

Yes.

cash the to maybe it around drug an the easy have be the would be us is in open -- III to so excitement investments believe the it's have I vacuum. decision as would we our when decisions obtain know, probably you the have needs Phase active make. is if III I a to pipeline, will make say the would the based accretive to pipeline. across across planning to case our decide stage across that hard be for the And it But with needs reasons, needed the and not. would to value Phase decision will before or that we investment in we so be obvious be on II, Phase after the the So be, drug, opportunity will we base expected opportunity it

all decisions the there, mentioned. the will So I other based we when we're on parameters make

Operator

Stanley. Morgan line Vikram from Purohit The of next from question is the

Vikram Purohit

HS be coming AD half and data XXX. some we decisions made how being in missed So your the thinking we prior ahead are AD HS curious also year? it, could in had sets currently indication if of and for you expansion and the XXX you're -- Sanofi a of couple and just the of were first and those but this how on beyond when next Apologies of and mentioned Q&A, about questions we time them you about thinking on

color point, a necessarily on that or logistical this that be get your expectation would that point we secondly, which might to be which not appropriate then is from hold and have sets AD case? should on Or And the visibility come a data together? would HS the more those venues the forms helpful data, at showcase if perspective. you any And to

Nello Mainolfi

We've done. in, Thanks, X got Vikram. questions well

we're have clinicaltrial.gov to presented in seeing 'XX. where. early of it's the with the too start separately. together [indiscernible] to and or out they timing still or I disclosures will us and studies know Sanofi we're feel last So first disclosed the half able whether both one, both know said read been I from that time be for program to lines hard us, should be in the

so give more us time. And

we I think might able answer be closed, when we're question. to that

many I this or expansion, the to In is in said are that [indiscernible] indication of terms the in validated be have also known these opportunities, other evaluating relevant. many indications other being past, on biology as we've of obvious

color. believe disclosing and the first, is executing because then I team these sensitivity what think be the Sanofi to think about on is focused there X happy studies, maybe disclosing more on provide I other be indications we'll I are just will they right now

through this I points, personal terms some more. In share can't But opinion, of on to of focused again, able get we now, inflection say, let's speak as executing on these I these believe a we'll them. be timing, we're studies. is for And for

Operator

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

Unknown Analyst

where your partner have would take quick I a guess potential consideration on you think when factors Like assets? I what do a you that giving a partnership? scenario out the might you into there's of evaluating constraints, capital question guys oncology some for So

Nello Mainolfi

Yes.

question. the for thanks So

So an generally, win-win grow and continue is the but we've company partnerships, They that we purpose, always, really to I would partnering believe like say financial as to opportunity. rarely financials to drive it to a need right? will be primarily, only, said, not option has to the serve be

of programs. I that specifics of just days do own some past. -- oncology might of the given still speak in on something once it's generating open we're in that oncology that be that us of level this think important the Kymera -- for discussed something we is commitment will first I invest partnering tell can't that and be its the in all, program. to [indiscernible], in we've It midst to we'd the our

the I able for be have clear of view creation after that, . to with value think a we'll for our pipeline. best oncology path

that we in program. always company every use wheel should any creation the partnership tool about think single can't is long-term As as reinvent value to

Unknown Analyst

Okay. then Great. for your priorities year? are this And what

Nello Mainolfi

[indiscernible] .

Unknown Analyst

[indiscernible]

Nello Mainolfi

that mean I I've . question Yes. think I already. answered

Operator

the line from from Shi The next Kelly Jefferies. of is question

Dingding Shi

I'm have this like interesting [indiscernible]. also advocacy the in question [indiscernible] IRAKX [BTK] degrader space to is features -- on MOA I inhibitor on [indiscernible]. based see deposition development clinical curious, and and the clinical We to the socially [indiscernible], inhibitor a expanding and JAK of our anticipated other be how would targeted strategy differentiated should what . the be the agents also

Nello Mainolfi

were small talking if understood compared it other I [indiscernible] So [indiscernible]. correctly, not was JAK is But you sound the was about how -- great. molecule to like maybe the a

Jared Gollob

I essentially receptor other on as the the cytokines. whereas a based the pathway mean, in there I both well the XXX as agents, Yes. as safety. on multiple more IL-X pathway targeted different have to mechanism impacting well particular, these on because for effect receptor in single is IRAKX as ability has I&I differentiation impact certainly, [indiscernible] space, a with of efficacy potentially degrader think The pro-inflammatory the cytokines, it's proinflammatory agents restricted many all compound, the

on broader opportunities us autoinflammatory so an give diseases. think with different broader that And effect development multiple the can cytokines

I differentiating is . important factor. think X that

something the have there adult genetic in do fact We've the adults human summarized knockouts to IRAK-X who is before that think who or which overlooked. infections. are safety I can't not any be any presented also or factor before phenotype susceptibility

And cytopenias, individuals studies. anti-inflammatory the malignancies. essentially is not but IRAKX inhibitors risk compromising so has human preclinical That efficacy broad knock IRAKX do to of in have liabilities factor JAK for either infection, something there's that without terms a or been effects, like being drugs out potentially is in to game safety think, and example, knockdown in I even safety, risk real of have optimize risk of central maximize significant of seen they of think changer JAK able chronically other from inhibitors, differentiating I

maximize moderate patients, modalities. this seen that this safety be really were broadly think not just optionality be severe by And having I ability indications, I to think challenged milder also or to other in while so different could degraded patients. but also really to with developed not really can't an strongly this And any provides really issues allow multiple potentially drug efficacy IRAKX and chronically knockdown to across

the standpoint value XXX we the and this of real so that is of the both on safety as differentiation on potentially And well efficacy standpoint. as think X a composition

Operator

is Jones question The next Oppenheimer. line of from from the Jeff

Jeffrey Jones

evidence X There's from could in targeting question. both for Just ] IL-XXA comment IL-XX improved to And pathway just ANS you [indiscernible]. some -- IRAKX targeting the a be [ efficacy would expected technical quick whether versus just on forms, us. of ones impact

collaboration forward And financial side, be versus we thinking then the should Sanofi going revenues how about on the payments? milestone

Nello Mainolfi

Right.

take and So first Jared then. will the

Jared Gollob

Yes.

mean IL-XX, a here one. the efficacy. anti-inflammatory you targeting potentially question of, where the sort to than more the advantage say, able we isoforms is to think broaden an being think still just, AA, restricted impact, speaks may think, broader HS in ANF versus the more increase but like already activity having versus broadly out AS the a is can be I hit I effect of I I you as especially a, to showing that IL-XX like speaking, diseases further, rather there restricted advantage of around

at across does isoform, impact specifically that, the as while broad as we multiple IL-X do Now well IRAKX by know [indiscernible] probably even that is target [indiscernible] not the they pathways though IL-XX [indiscernible] the that, pathways, IL-XX versus impacting assume would specifically in we haven't production. isoforms. fact, pathway, And looked IL-XX we different

restricted think and AD efficacy And the within inflammation diseases XX come versus another many others to and broader advantage and is I is having going making HS the anti-inflammatory I an includes that just have pleiotropic broader more that to earlier, a and very AF both A the a point way I think advantage which drug being of these having -- is narrow. autoimmune of was highlight that so effect sort versus that have to more and back

Bruce Jacobs

don't term additional are revenue of to obviously your there's recognize And no deferred included expect of over in additional That's to near Jeff, our number. see guide $XX though, amount the our in performance sheet, answer milestones on that the can you revenue just balance collaboration while we inclusion revenues, number, as fulfill the question million. we revenues, milestones, it's over obligation. The we to just

achieved those be respect in So anything would at that's recognized with milestones, point to time. largely future that

tell I on what you that's can that. So

Operator

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

Justine Koenigsberg

Okay. look you see progress. Thank and this be us morning thank updated there. on Later BofA month, the this participating to to you. our like for joining you to of many everyone We'd we'll and hope keeping conference forward at

reach In the This meantime, Thank if today's concludes you. call. following please are don't hesitate additional call. out to there questions today's

Operator

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

now You disconnect. may

Kymera Therapeutics (KYMR) 2 May 242024 Q1 Earnings call transcript