KYMR - Earnings call transcript Q2 2024 | Kymera Therapeutics, Inc.

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Operator

Good day, and welcome to the Kymera Therapeutics Second Quarter 2024 Results Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Justine Koenigsberg, Head of Investor Relations. Please go ahead.

Justine Koenigsberg

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

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

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

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

Nello Mainolfi

design, data-driven good we've of settings consistently commitment past made underserved over molecular we our from goal lives. biotechnology Thank Every potential to ability impact of to highlights you, large and pathways approach to translation target with to drug address development of clinic, strategies progress the development a the and emphasizes to patients' areas. maximize innovative quarter the validated important our company, to fully preclinical building morning. Justine, integrated that signed global best-in-class programs deliver improve steps The our towards that disease and novel the fidelity the day, our first demonstrating take

for as in and major in a the over and to degrader medical with peer-review updates approach Our potential diseases presentations past pipeline development months. to evident paradigms of treatment congresses has few unique exciting recent the at publication of led the journals our change medicines multiple

at Our and at static STATX and ASCO MDMX ATS featured DDW, for EHA. both program, AACR at and was example,

across these The our evaluating shared programs. forums expression our In data differentiated profile with Investigative Journal of Dermatology. published in addition, the in findings the of IRAKX patients trial, we noninterventional we've from HS highlight

overview, Before over immunology to handing our call highlight X the to pipeline. detailed updates IRAKX start program. our for important I will with a I wanted more Jared in

As with and been patients. Sanofi, molecule volunteers partnered in have and heterobifunctional AD to dosed a HS healthy IRAKX reminder, the then KT-XXX, degrader first

has with I We in and month, III of on accelerate allows trials to review I Phase setting. Last II seamlessly effectively we of TYK after and these efficacy degradation have shown systemically the HS of expansions goal our and skin Phase in to of of AD The in these study registration measured of AD expand Phase skin scores robust HS This intends into safety both the highest announced inflammation, in blood benefits score the both of by studies us has studied AD transition been IRAKX Phase in a both II degrader an expansive biomarkers impact likely dose-range for patients. provided trials interim KT-XXX, most in ongoing Sanofi that in and more Phase PD of and and profile and in studies. a resulting finding AD. path impact HS to and resulted clinical the HS. in easy [indiscernible]

Kymera's proposition the more the about a direct while trials quickly enable into be will Phase we've unique for will talking the been will concept larger that III degraders oral biologics in of like immunology, extended, result, a activity, with value modified than therapeutic As area. we this anticipated. Staying II and platform attractive is this a -- transition with expectation Phase

reach transformed largest able ThX with in the the block the XX an selective of that pathway lives Kymera, X drugs factor has transcription projected the the in superior oral static million is targeting are by industry. of become one drug STATX, IL-X/XX Our this have to sales this similar is At Dupilumab with almost program degrader and we patients pathway death developed mega blockbuster, a it way. doing concept. a or best And to has diseases. exemplifies in so, billion of a that

way shown potential impact we've COPD the dupilumab ThX in oral disease STATX We fact, and blocking such activity preclinical best convenience with this can and how others like superior data KT-XXX ThX diseases, in date studies and that the profile in drug In dupilumab believe signaling as active with the pill. ThX to preclinical of its more shifting is orally to a equal prudent oral or the generated are potential Overall, change models. an Asthma, blocking be KT-XXX preclinical for degrader, demonstrates systems that has opportunity given than picomolar at inflammation paradigm AD, treated. cell

of ongoing say we on have so, an not questions. of asked dose we update. millions all take change completed the program the target no comment forward Jared? XXX to IND-enabling we provide currently any a than Very in to the hopefully, future. is the receive the programs, have soon. globe. We're of questions did see and Phase KT-XXX to XXXX. I patients be more the details and for we our kind. of but first next in for all This us, the would will that when of biologics, at since of studies findings like first And is we frequently don't potential status our enabling in our mission expect happy trial excited GLP Kymera of most any behind current the only our more Our patients doing should the Kidding million update by program, Jared IND you With be that the we usually lives I'll to half milestone to And brief the results to wanted are sharing look I of at on millions studies, those I I activities are results not to the share subject. the point but not importantly, then currently an biologics. with on We start to around happy status on Phase that our adverse events toxicology for safety patients of doses the tested, is studies important time. one

Jared Gollob

with Nello. Thanks, KT-XXX. Starting

Kymera Sanofi's an development to program. interim month, As ongoing II and KT-XXX expand our announced the great monitoring safety an data mentioned, studies is of decision outcome last following by analysis Phase we This IRAKX in committee. and HS efficacy AD, a for and exciting independent

a reinforces to future enable dose-range step expansive really way should II that the necessary it Phase but lines. But program, The strong the potential selection also the overall commitment time allow back, trials just in not Importantly, Phase registrational inform will a only to III. to seamless transition studies Sanofi's provides perspective effectively to to studies. the more into the for regulatory dose expansion structure with finding is goal accelerate

this able to trial Once is to last we related update trials month, take complete and AD, to Phase X Sanofi that to be these meaningfully new overall Phase time releases. should HS is to data Therefore, on II complete, in longer to will update the support will II, undertaking will the ultimately, shorter. moving to will directly happens, registration III lines expanded expect clinicaltrials.gov. the work be protocols. completion be and And we Phase it updated While posted and details discuss Phase activities timing once III. the Since

result, we will half will shared a expect beyond results, first XXXX. following of this their in be entirety guidance which II As Phase our be prior expansion, the the of

no delivering of additional capable IL-X The disease well to in tolerated doses. our model, KT-XXX degrader be to inflammation inhibition recently all low tested Nello track first the in note, Founding including mentioned, cytokines, clinical of KT-XXX of our poster largest the next and antibody cell in pipeline, chemokines once-daily half to coming data We preclinical additional remain international to plan development studies We KT-XXX potential presented was our out as the Day. in ATS asthma more we I our presenting XXXX. our dupilumab-like a activity after oral should activity reduced EADV, Phase prevalent first-in-class in KT-XXX lungs ascending KT-XXX at on for infiltrates highly first-in-class at expected We meeting we commence in data non-GLP the robust this in daily the data immunology on dupilumab alpha X data comparable a to dose an and STATX mentioned, healthy oral a oral GLP the conference single that a plans any in allergic asthma. As and session the both forward with program preclinical of details also unveiled updates R&D at ThX KT-XXX share efficacy provide later Nello additional multiple demonstrated KT-XXX, of for also in beyond around now events of medicine, degrader in in look that to tox and safety TYKX severity subjects doses when with the dose year. month Phase dupilumab. I study has our comparable dermatology. We in testing involved adverse the months demonstrated Europe of saturating at and diseases.

inhibitors to function molecule that functions shown and are the of able therefore, not of the TYKX TYKX profile. have do We loss all block small scaffolding replicate not

just lupus at steady with TYKX for better for block arthritis and IBD, and a TYKX molecule depletion function opportunity than inhibitors, molecule biologic-like an small psoriasis, small best-in-class pathway oral not fully blocker to that cannot of program thereby conditions incrementally to like to have a is drug addition, deliver bring patients In agent is inhibitors psoriatic others. the catalytic state. among this The but

in to in program, data share a Phase year put exciting immunology I position For in X and In testing for Kymera. time lines up be us very to new complete busy our summary, programs, initiate STATX we expect TYKX and and a XXXX, XXXX. is this shaping Phase which for these to I

programs, oncology. liquid responses disease-modifying demonstrating ASCO of solid in tumors. has for a at clinical to and been busy This updates stretch shared X by recently KT-XXX, We've these also STATX, our KT-XXX and and highlighted EHA, targeting degraders the respectively. impact and MDMX Moving major

has to to dose encouraged our clinical been demonstrated, escalate tolerability, which to ability expected. cases. by has our higher That the have activity In addition exceeded in resulted than particularly that been in levels expectations both we has

suppressor tumor an common the pXX. is protein modulates MDMX reminder, a most As that oncogenic

efficacy and with molecule developed of update B to is provided KT-XXX with brief types Arm I X, and for XX to in data exposures that when preclinical Arm XX loop malignancies has encouraged Due from solid regulated. potent In profile. We're shown the believe tumors and KT-XXX X emerging MDMX stabilize its show We and opportunity a an our ASCO dose a MDMX with levels the poster ability April apoptosis of from This of June, We due to to the likely in level activity acceptable to patients in pXX toxicity be clinical by through leukemia, a up as studies. clinical safety X to biomarkers patients enter degrader the feedback Phase high-grade were trial. data and tumor patients guidance in STATX to with dose selective escalation patients without update X. of been strategy While KT-XXX sensitive degrader improved signs to well Annual the seen development up benefits X meaningful escalation the demonstrated and to to selection of pXX myeloid we complete X later unable preclinical dose neoplasm post poster That for lymphomas expect Phase safety inhibitors. Dose patients X. is of X.X on with update included and A multiple with steps. Hematology upregulation Meeting. is have we XX small clinical pXX inhibitors responses expression, they present shown this medical of upregulate doses Ia myeloproliferative level or is evaluable pathway patients antitumor dose in up the in inability hematological pXX clinic. or models, cell tolerated have loop on their Association myeloid been margins. and in stabilization in patient the overcome feedback protein overcome differentiated induce increases mechanism, program the Merkel second rapidly enrolled an at Phase that with potent a of a half carcinoma the provided XXXX, traditional including historically doses. with clinical and first the clinical against X In meeting phase June, year. we ongoing, share biomarker-based this and in Separately, update at acute next European molecule provided our a small the at enrollment expect we next KT-XXX our mean to The from STATX a heterobifunctional to of transcription of III factor trial to subsequently June X as X levels a undrugged highly provides set

in We tumor, and single-agent are encouraged clinical blood showing as a and of we in tumor date, Hodgkin's as activity strong do a handful trial. tumors, clinic active rationale induction CTCL heavily lymphoma. efficacy strong why particularly we target preclinical T seen This intriguing prior retargeting in we surprising who gamma signed interferon data or activity knockdown X lymphoma, solid pretreated agent in cell tumor curative for into lymphomas of we've complete the transplants. Because in NK-cell NK-cell inhibitor and checkpoint have We doses. and genetic in and emerging of subsequent enrolled to disease progressed has translated by robust in after at have anti-CDXX well lymphomas be see single well that in not should responses generated believe ADC, terms tolerated the in potentially of staff preliminary patients the a antitumor stable it's in therapy Hodgkin's strong enabling seen in response Preclinically, stem signals data been patients not in observed a is the the patients had X as with only responses lymphoma lymphoma. solid Hodgkin's blooded

opportunity STATX's combination activity seen with patients. with and mechanism, believe anti-PD-X This we models in for mouse have lymphoma is driven in likely provides we which an both tumor syngeneic by However, anti-PDX solid drugs. combination tumor solid Hodgkin's in immunomodulatory

expansion patients activity the also enrollment is encouraging the opportunity we've aforementioned further targeted on X observed lymphoma, to combination other includes and seen very there in the Given therapies. anti-PDX in Hodgkin's tumors believe lymphoma explore are future solid an we've activity we additional responses, which focused for complete Hodgkin's of with into there. We

in We We expect to second all to clinical the of updated study you this enrollment half complete of XXXX. share forward on and and preclinical keeping data our look programs.

the to review discussion Before Bruce our we hand results. questions, financial I'll quarter to take second

Bruce Jacobs

Thank you, Jared.

As please second in release. in press highlights, XXXX quarter the our reference $XX.X of second tables I financial found Revenue quarter today's review the was XXXX million.

$X.X compensation. excludes $XX.X of was XXXX. attributable XX% R&D expenses, Sanofi represented million was that adjusted comp that, noncash our increase comparable collaboration. from cash amount first operating of respect stock-based All to the $XX.X quarter a for With stock-based R&D the to million. The Of which in that spend reflects the approximately of million, quarter

million, the side, $XXX the from On $XX.X cash was the at our prior the million of G&A $X.X up noncash again, comp, G&A The quarter amount spending Finishing reflects million, comp. in XX% of our the stock-based $XX.X which excluding quarter balance the stock-based a increase spend cash end with for of was was quarter. adjusted comparable million.

including multiple into balance the XXXX, a data data to cash our runway Phase on to provide have. us readouts, in execute would our XXXX, KT-XXX, programs to expected any XXXX. This Operator? II first and enable expected proof-of-concept and will oncology and of we Our now prepared is you half be TYKX remarks, clinical questions and concludes happy in inflection address may STATX for points results several

Operator

Instructions] [Operator first from Joseph question comes with Eric Our JPMorgan.

Eric Joseph

we whether decision to it Phase if of review of you expand an bit Sanofi or parts further whether see when loose have be a wondering Phase was that I it's there efficacy as were interim on II type of sense was or through -- thereof. expanded wondering But data whether from there and just after And and their might little to a safety work some trial you could I'm might surrogate know do Just II on component there could data based there part the -- within? moving guess, to are program. whether some when safety you elaborate here. able the the readouts I be

Nello Mainolfi

for the Thanks Yes. Eric. question,

can't and there provided analysis update access the running weeks having in that we've Sanofi run So highlighting And again, and Kymera we into unwinded that multiple content supportive conclude this is obviously, efficacy, review access phase the to, parallel manner. to is data both that Sanofi questions programs one both is again was forget a that and this But where or ago, both the review the had of an now studies so few were should of we from interim the companies, in was few of what safety we said. blinded to without investment the previously there proof-of-concept I a obviously the as the placebo-controlled study in IDMC said, pipeline and data data. the asked. -- and speak was a blinded had that the further we're of program. Don't the of as

in we we on to to enthusiasm have that able it program. regards next also we again, for upcoming that hopefully, the With we be time, in update lines. on And expected be So to completion the comment at this will that able be include clinicaltrials.gov I -- should the to level will of dates. speaks think, lines, and an months, the time see -- both time able we'll

that more first not it's be to able point, said said of -- initially at was Jared 'XX we to accurate to. As provide guided beyond guidance. we're earlier, the But this going half

Operator

Our next comes question from Oppenheimer. Jones Jeff with

Jeffrey Jones

the on G&A quarter prior work R&D extensive Obviously, picked up on. the one have going significantly you quick a Just with the and trends. from

revenues forward? should on there? about a the should well the moving how in think Just follow-up jump then that trends collaboration How from And we we think as about Sanofi.

Bruce Jacobs

Yes, Thanks is the sure. for Bruce. call. Jeff. This

versus what quarter-over-quarter of terms in we the unusual had there's trends, terms nothing the in expected. growth of So there

STATX, growth R&D just of G&A through that obviously, As to is modest closer we in organization. either come the line. the you'll the see progresses, for start get studies year the

guided towards last We loaded generally front-end don't. I burn, and definitely annual than at see loaded. this But a the more year, little looked street, this right you'll what how typically our the represented they're haven't gone years ballpark. back-end But have as care that's in year. typically for And

there a In catch-up of the is just related was revenue the terms the that. a result all of revenue, in revenue alliance, to Sanofi

on think do revenue of so. the or sheet higher a coming quarter, for can you this but So vis-a-vis rest in a that the be resulted the I little year will balances on over high balance based look the and year, calculations level might you how unusually some our it deferred

helps little take you'd happy a if that as hopefully, to So offline like. bit more well

Operator

Kelly Our next from comes question Jefferies. Shi with

Dingding Shi

prioritize? Congrats on program been based With start preclinical studies, a discoveries single area multiple specific this be multiple I? all STATX to your plans the has preclinical it progress. the Maybe or please? I'll more one you comment on have on to on Phase presented indication for the that studies made indications which like from Would findings the

Nello Mainolfi

Yes, I'll Phase let thanks. I comment Jared Maybe the plans. on

We the our haven't of before healthy plans describe the details volunteers.

think -- the the accelerate Phase I, is maybe to studies. to our just and program to today update I to that on we complete remind really fact path conclude and on IND-enabling we're actually able were the we that what giving our we're able

I our are if provide to healthy track, studies. you can what said we the start Phase description we have so high-level earlier, study. Maybe of some on to volunteer And compared Jared, not

Jared Gollob

Yes.

IL-XX consist Phase number be critical healthy for opportunity different I XX of be MAD skin. And safety. at be biomarkers ascending in daily in single that several an even looking study to include able measures I at ThX at we Within to of an ascending volunteers. and through on move importantly, at Phase looking a dose expect being in of volunteer to which pathway impact in the to will biology will circulation, look IRAKX portion and will STATX for healthy opportunity be to blood study, It the IgE measures in pharmacodynamic example, and that we'll look particular, a healthy also to have study, quickly. did study have the And dose to giving So it TARC, those as we'll the show traditional will able we different IF addition Phase in volunteers, I, us doses. multiple to the

Operator

comes Vikram Our from next question with Purohit Morgan Stanley.

Vikram Purohit

X pipeline. had I&I on the We

those thoughts how could TYKX or selection get data And see what to to more First to beyond be might HS will initial those just decisions? expansion indication on XXX, what on we think secondly, yourself latest expansion your broad the and can decisions? you're thinking just looking be? from Sanofi for and when indication flowing on mean, how wanted and help rather, And you then you AD program, make indication wanted learn the I be do for program about in I development Phase the into

Nello Mainolfi

Vikram. Thanks, Yes.

XXX, the in this past, broad as relevance on believe we the we of in So has said a pathway variety diseases.

and skin derm. in is foray initial Our

respiratory and again, HS concept, based asthma traditional, as as of this pathway let's GI existing with to this relevant in and say, lupus. with agents both we and inflammation, target in be IBD on expect in So well rheumatology, AD proof both RA in pathway COPD

are opportunities vast. the So

there molecule is But support has said enthusiasm of TYKX, program to a the will we're that. in to, As Jared collaboration oral regard communicated opportunity And to an who prioritize profile provide seen, this and unique like biologics final -- I what past, that it us hopefully, think, and to the is I the potential closer to again, done. that an for and biologic-like timing team actually the leave really earlier, all least has the ongoing with the decision. With update profile. say expansion. again, is as recent eventual will team that we program I been to the the speak the Sanofi, cannot speak of to I I'll at this. within around that Sanofi getting has to a be have can continues process decision-making on series I -- say we've indications have for the that But

oral a X pathways interferon about and think this provide molecule small highly and a If you those block with XX being single to is involved type differentiated fully pathway should profile. X or in able IL-XX

of have that lots ones are diseases There lupus, could The So psoriasis, after that others are one interesting. there. go potential obviously gone be that psoriatic arthritis, could after. IBD, up there's potentially others

I think of blockade other far, be will Phase of mechanism to our action tested goal I these our to so unlike that plan a be proof-of-concept differentiated do demonstrate details to will an I for we're to our more -- once would pathways that and has profile. in able show demonstrate speak indication then is actually with food studies. the study that agents any in that we'll about been closer But Phase

Operator

Our from with Brad next comes question Canino Stifel.

Bradley Canino

me. for Two

efforts a question, shape and as highlighted to of the how second, the But the And efforts and of bit asking First, TYKX the the I Nello you some the external just about clinical discovery maintain ask, before you lot degree really target And given the a individually also are can Kymera. of And focus? for talk it at maybe to bit. tractable actually and do a lot is What pipeline today. areas of little of ago named would this this recent of a news, discovery questions mean characterize evolved you pull strategy confidence you discuss across I but a now? IBD? how while collectively years a today? then just of want back pipeline that

Nello Mainolfi

first the you want one. second don't I'll Thank the you to -- why take you. take Jared, question,

Jared Gollob

Yes. Sure.

I problem which affecting to TYKX, probably block JAK, just it's where also IBD. IBD. In that the it's some IBD around in the small and molecule interfere any [indiscernible] hitting component also show to for approach our activity is targeting hitting, that with inhibitors important challenges to in also you're mean question have if than terms been say, selective you because be activity that. there of mucosal of TYKX fact interfere not an don't while which it's IL-XX IL-XX, example, going for to real you due be can with might IL-XX, because be therapeutic sort our to a it's with IL-XX for of part in your healing, TYKX expectations going

derma we same ]. So degrader sparing at the our while And inflammatory block IL-XX time, type completely advantages be can Nello will our one this the real interferon, show TYKX distinct able to that's think IL-XX, as the we sickling room think in anticipate was lupus. in like disease, is and of we for well indications we a [ indications key advantage in discussing and the X like of psoriasis that the pathways, why and being IL-XX earlier, that, that activity that IBD other maximally approach as indications including

Nello Mainolfi

And a to add just recent the data. Yes. maybe statement on small

think the relevant I and look tested of blocking pathways. activity, profile important it's at the the molecule their to

as and believe STATX are scaffolding if an or been as -- drug what protein transcription main have example, be the that factors, what targets have that disease And drug that and X Brad, degree of TYKX. with of been well. the focus the you we top to to the pathways value so Kymera the high rises think well, a actual molecule after the have it's or the difficult, of think classes, going context been know the consistent of validation, that compare pathways to profile. With gone into regards comes that to to the without STATX the discovery of I And targets that testament on IRAKX in trials type you to we're not will as and use just look other taking within I general general biology continue after, philosophy efforts, I at one same. really thing those we've we've that has particular -- And

As with We've TYKX with great an profile the we have about mentioned Again, increased year, in about talked IRAKX potential. amazing so earlier substantially about far, we now. our years STATX we've for effort we've to immunology. talked talked

other the about as to again, drug within hopefully, modalities or programs, in next same difficult drug to new landscape. targets of You'll the with as immunology context early year, hear impossible

the vision our next years. that. where I already have should world pipeline, oral and and today, we have best the of what in and months will confidence think I goal industry our the if degree think highest few And immunology I in sit that's I us for the don't that have expect we is

Operator

Our Frahm Cowen. from next Marc TD question with comes

Marc Frahm

one on quick Maybe one oncology.

upticking. it's expect Can molecule you kind as that having presentation acceptable as the maybe view we a maybe every a if the this your XXX here Do and profiles Or going injectables? year kind the broader you just be the to approach. year that's happen next data also guys out should is much kind really the on biomarker have are there? of Just Kymera's approach? year, than year? the Or of portfolio of you not clinical is convenience the question anything of more, to so that as I&I this bit end important the full efficacy, clarify, up And good is develop to clinical that then just show is event? kind update of this idea it leading oral to that not Or molecules quite the

Nello Mainolfi

be based So recruitment we've for and about biomarker on to a your question, XXX for so first plan share and our escalation strategy complete we year. our been said we data total to this a at our able clinical that that our biomarker-based is MDMX talking said on will able forward-looking share year for is we've expectations are sensitivity about we what a be should strategy hopefully while commitment this What medical to meeting.

to our -- be how many profile but would it MTD. that you also of on know, depends reach us, on only the and is required doses safety As drug doesn't depend

As for safety anticipated up actually had than based probably you've more because than was had anticipated profile we better we preclinical we data. on our seen the ended escalating STATX,

of again, the MDMX, our for desire so to share totality And the data. escalation

when depends reason complete the the all that we seeing, why complete It the so we're escalation. escalation. we shared thereafter on And we

we by depend will end it and to able expect the the is on of be extremely trial safety to but the We year, profile do timing that MTD. should that recruiting again The the fast. reach

you actually it that so I the is blocking that to upstream critical actually, which IL-X we superior superior mean, recruitment or the than fully. pipeline, be patients of really for targets even in upstream definitely to those say, ] should year, the the true are [ IRAKX, immunology to pathways biologics It's have that on at to drug. With regards And said block selected pathway be not think evolve, be should of That profile the to should I able early I able individual biologics. superior is path. we've

[ activity I family blockers. that for We'll way. that clinic able in have be for is we for the combined [indiscernible] also same clinical the the park dupilumab, And hopefully true STATX Iowa the at to pathway the so It TYKX and show ] TYKX program. will a we've shown can

of So efficacy. is goal. is to in is immunology have trying does that do, biologics. development compromise are what I history oral on we Again, on not think which pathway to an That to the drug unprecedented compared our

the And experimented We we based so shown the to which just easiest we IRAKX I receptor the outline. is the have blocker. example and have that so far as that dupilumab, believe think again, block pathway that biology on is as a can well

to activity resulted as blockade that profile good And expect terms in the so in of clinical least we be as dupilumab. at pathway clinical

So to with I on oral an historically had we've drug. compromise think efficacy

to a We is our the say not -- really concept will here the the how our also patients a community And we that. take be should is to suffered can shift, about with I programs few that what our has drug change as the is think that's the are that, ambition which the just months for from case programs diseases. paradigm anymore. that trying broader paradigm. that been actually about raised It's ability we by that past think And when these that change say

Operator

with comes question from Kalpit Patel next Riley. B. Our

Kalpit Patel

You XXX-milligram additional IRAKX specifically you doses and that a need are be any doses. why And follow-up, to the the expansion the Maybe includes outside additional testing also doses the help as if new of you of XX can daily for tested decision-making us if range? now. trials Can understand dose more us mentioned of the color give share. to

Nello Mainolfi

Great question, Kalpit.

a have sponsor So to III dose relationship of safety. to study, a and the degree as you efficacy establish order Phase -- a it to know, expected from initiate in registrational ranging Phase is between III

Phase existing, a the impossible, have -- not at there that study into and from let's would dose look go you HS now that study II without difficult, X that been if placebo. Phase still if extremely of actually It type had to doses. III so study is multiple And use X clinicaltrials.gov, we exploring registrational actually

doses other into that's sooner in the Phase much acceleration point of a actually this that doses, what's is doses than liberty addition the in III again, driving the in the of to study also would getting revealed of after to not the -- type U.S. are regards Europe, So to comment. into study. With actually, we're I actually

be, comment is maybe I So some existing What will here. not investigative new you say. the if the And work, more can't what on that to out that the range stop versus say figure be. within the will where they will dose be doses but you doses unfortunately, would it's I I'll hard do that you

Operator

question next Michael Schmidt comes from Guggenheim. with Our

Paul Jeng

on This for Michael. is Paul

Can For biomarker your Just production talk you're Or healthy following that there to indication proof hoping data see? sufficient you that actually or the we out there the guide up just interpret in dose-dependent could instance, thinking establish just that a next follow-up, is on prioritization? should about toric as STATX. goal is coming of on directional on reductions is of a you threshold early year? And [indiscernible] how prior data a question certain to then confidence Or any of program? PD to target here give the concept? and volunteers

Nello Mainolfi

Paul. question, great No, Yes.

in we've to block we've vivo, asthma either a ability model, fully block able that We've we in downstream types. relevant a diseases, to than we to say as an or endpoints we're We've a shown model well So package, this that biology I obviously, shown better all receptor, right? are inhibition, the shown than have with in of all STATX, XX% a -- dupilumab. of whether term degrade built either with types, topic so these degradation robust concentrations, we or ThX really you pathway equally so in let HDM shown I preclinical If derm it's XX-day cell picomolar disease the with that model, as more respiratory, plethora look of IL-X/XX at first more actually in relevant, me pathway go cell target that's mean, start DUPIXENT. biomarker vitro ThX GI. cell translationally that they When if types, relevant potently human we

an this pharmacology pristine, probably profile to behaves be far, even So any about seeing of that very, tox, we've that the through we best-in-class seen the haven't non-GLP that in we going in robust, very preclinically pathway in shown year, update about any absolutely Today, GLP which in inhibitor. like talked tox. early drug we've that terms a We've our January events in shown safety tested. seen so we're events as doses adverse adverse we haven't also any

quite So compelling. safety also profile is the

in expected, that study again, to it's of So and To confirm extensively preclinial changes, we've demonstrate preclinical we're but everything models. we've shown importantly replicated the I has that far and is the honest, dose-dependent will to just in that which, biomarker modulated. PK in Phase done sorts of species be humans degradation DUPIXENT blood in totally leads to the preclinical downstream then skin. goal blocking least or human. And the lead done in to of that biomarker so things the that a species, And we've that all using at is most STATX robust confirm,

so aligned on I the that the to pics everybody If at expectations. data you kind of were look shown, encourage have that and they study that

the days. -- also you do TARC in reduce we that seen You've XX can IgE

you on the depending shows a you somewhere there inflammation. that that healthy use. volunteers pathway that Again, data, the And and look between so XX% biomarker at in is ongoing it ambition XX%, even in have don't if

I are confirmation decision-making biomarker for in qualitative we healthy it's a population. regards indication, a use of that to those will with so again don't engagement. believe And data target volunteer any given that

be thereafter will mechanism fund [ robust go to ]. soon proof goal a more in both good establish to of patients Our and

Operator

Our Ellie comes next question with Merle from UBS.

Jasmine Fels

Jasmine for is Ellie. This on

X have We in oncology.

could So secondly, in a on solid you your hear more when year? in give on your color the of we for are this this going opportunity to what action, And lymphoma? of give based tumors? you potential you an and tumors, solid little say view STATX, And strategy, Hodgkin's selection your what MDMX just update specifically about can then patient biomarker about the on you see set on the applicable most mechanism as update talk

Jared Gollob

on have responses gone who with in seen curative reported on STATX maybe lymphoma We've Yes, been starting that we've your and question Hodgkin's to complete Hodgkin's. in patients hopefully, transplant.

render amplification with targeting. the what STATX about there's JAK of responsive very encouraging tumors So known disease, potentially which both of those as is is that amplification, consistent to genetics well PD-LX Hodgkin's would as data where of and Hodgkin's

seen If the So the we focused to in of drug Hodgkin's now see sort as enrolling on monotherapy beyond. and development to and the I for opportunities enrollment opportunities date. drug. dose there the completed additional include for is activity we've patients. Those a we've escalation Phase continue now third that line study, as guided see previously, with really several being we We different have

a potential who and anti-PD-X. with opportunity prior anti-CDXX for or also combination anti-PD-X prior So second ADC, patients drugs up have in had line line in

certain safety ongoing we MDMX efficacy we the year, enrollment, had this and very update solid an types we've year see of reporting sort are update think potentially that selection, think patient once this that how are models. interesting at our for plan sensitive study present for provide process of this an extensive using of guiding, signature a additional those preclinically biomarker the we've referred solid this specifically for to a sensitivity data see MDMX and what the can it of tumor are types in showing meeting, and preclinical I on plan time. With of Nello medical enrich And patients tumor effort remainder that plan both identify Hodgkin's data solid those program. those further what various have would earlier, how be developing to action. And degrader terms to So of so the completed to to people to been we that year later can tumor regard I degrader at we is mechanism different later the in of

is strategy that can to later biomarker presentation, that more look for year, we details provide tuned where what going stay on So this hopefully like.

Operator

Chen from Wolfe comes Research. with question next Our Andy

Unknown Analyst

if -- Brent you Where in of [ progress can the on is thus stage ] greater IND And to please you another discovery Andy. discuss -- hurdles go degrader? Congrats company be? on to some challenges and puts the process their could Would STATX it? developing you difficult This from far. quickly mind would how the first they that to discover how were mind creating it, for the

Nello Mainolfi

Great question.

the can from target in tax on shown completely company has it relevant any that a are. this years target that space. clinical effort have. I our STATX that list [ I but we no had have any to about difficult what's proof for we've all been there be But think had timing effort stage with And ] will But made XX know that I of some work We're seen that first, blockade capabilities we've years or is others. And we one this the don't data priority to so molecule of biopharma believe early since quality and in the most haven't driving details. fundamentally the a concept an I clinical dupilumab can of of working been I take industry and would given that at from to program. we've So is say so talk that company. everything pharma inflammation. ambition at ThX to of pathway breadth and we own on view at there in to past And stages STATX, I all past best companies of spent have the of Kymera, years. speak what the far, will. point, that it's we've points I it's I other is that X the companies compete remember Kymera STATX this not far. This this the and going And pharmacological to nobody, other both done going has that is of think almost least know I the

the comment on hard So it's competition. me for to

Operator

Our with next Truist. Kripa Devarakonda question from comes

Srikripa Devarakonda

up STATX previous following the regarding Just degrader. question on

collaboration Sanofi. it's but said, close to you One of not clinic, anywhere it's a developing, your like peers Nello, stactic they're developing -- in not with is degrader the in the

study. trying STATX your a or help So can not collaboration But could announced, overlap? And acceleration might doses. impact you're the about then like there that dose Sanofi's an this discussed perspective, any KT-XXX develop they're degrader you -- patients, III be degrader? funnel how FDA can you net. towards develop just a talked collaboration a clarification you might big Can Do expanding understand expansion has with being the more just the adding on from seems there It Phase us to already? clarify you've a IRAKX been you think potentially whether for obviously, wide cost

Nello Mainolfi

Yes.

for question. the thanks So

independent Kymera on obviously we STATX Sanofi We goals So isn't. other. is do and the that companies obviously, each IRAKX. impact. that else aware come ours there, one, given everything independent of the together the goals. world first have are that have Sanofis in they interested available the highly STATX And only STATX know, agents out competitor in -- Sanofi as we we are as is obviously licensed But around accomplish their different different we -- to and strategies we're called that

a integrated. for is the we are important target, is valuable we collaborations target that's with and to think X if we so I from this point given -- of view, -- personally, But think company, And a molecule any do, have and right, but same how target at it, one validate strong again, for is very don't the relationship. Sanofi need X how I we inhibitor small this modalities

that I order if in Yes. think expansion, discussing what we an amazing regards have I there? any question say, that -- a don't both on to don't team ] asked entry know our let's our, works the believe, [ registrational about was the we to on impact into the the as doses XXX And don't -- NX goal so hands. competition for said, on have expect will XXX. With And the you've -- is that We specific STATX accelerate the study.

I a protocol given that Sanofi regard the But comment to in regard -- a with particular whenever there So path. they're the Obviously, that is charge is sponsor, on thank process. there of FDA, you, Jared. is to that. With can't official amendment,

Operator

question Shibutani comes with from Our next Chris Sachs. Goldman

Chris Shibutani

noting Many lot therapies, had my vast seem a in your indications, selection the any started patient are also R&D there? be how you about control data how arthritis, to out you you of side, on been of feeling might is larger? And that molecules, in sell you about to thinking patient questions patient indications that to day to advanced but MS small how how the end scientific to you that market thinking inform Sanofi enhance helping slide and indications very what to is there better starting that identify of existing think a development, population to like study sort degraders know into the potential can strategies of year, number is And are success additional are the the the about One, your figure traditional CNS have out two, success? in is work be bigger would terms enhance are thread but The biomarker expand the I twofold. in immunology strategies. to that type questions of industry Perhaps combinations one, being of clinical probabilities way playbook it patients, some rheumatoid a picture a asked. included. from better opportunities looking and selection tend there's X

Nello Mainolfi

Yes. Thanks, Chris.

center here mean, we of what is Kymera. So do at I and this front

comes think and of inflammation mechanism, a to the therapy obviously although it's patients few the -- something work it's in ThX one with STATX targeted that immunology. I with examples our way, of in ability select with that the

in one CNS COPD of But asthma the can prospectively and we let Jared the patients eosinophilic then also on more and select this just angle. terms know, brain population. I'll an in for patient with DUPIXENT selection. address actually on I'll now example you do you what example of how As comment are the

I say, the think extensively can have that we and others, I demonstrated would compartment. degraders access CNS

examples internal internal examples, have that several we've preclinically. We shown

by the target by -- the mechanism, ability will the side? choice comment of again, CNS or capability the into -- technology. Jared, we bit to led going -- the opportunity, do on driven indications generally you want need don't the unmet the a I be on, and of So

Jared Gollob

and patient of think terms the I of the to is the TYKX IRAKX sort in STATX as applied well. selection Maybe and on question,

also, across we transcytomic very a us profiles it's patient If differentiate is this whether also these believe will this skin than it's that and population, upstream be that subsets helping that broad these example, for psoriasis, for of expectations to assays I be important large we used and they drugs We to retrospectively other to order being blood patients these for because on certainly, that very very to include or have AD that from our our proteomics to for study, said, narrow and pharmacodynamic Phase come STATX competitive. we and the activity [ look it think extensive should we're not patient whether To STATX That emphasize think TYKX. With might benefiting of degraders Phase for even allow TYKX. us but building are are IRAKX approved when important at oral our greater and in us therapeutics. I in active with to question, II we the biologics, to in diseases the populations proteomic transcytomic broader on and understand on in lesions be I could might upfront as population there regarding important are that STATX for did with various that be studies. IRAKX and and that doing ] a with and and these upfront indications patients potentially be as extent skin help TYKX.

Operator

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

Nello Mainolfi

you. Thank

Actually, So almost thank want made X:XX. we the just I everybody. to it

recently, news Sanofi investment today, Phase II the So we programs was especially, Phase we've they that increased key really program. to weeks HS and more of their the study a news which IND-enabling today of in on and know safety of KT-XXX maybe to completed great We're we're shared thankful I the profile. confidence for had excited AD. And close the the just showing and with the and in expansion very highlight few with ago initiating one studies our XXX all then really, to

you soon. all those progress on excited our really incumbent And should we're updating towards our happen about that next in so first time

thanks with today. We're So follow-up again. available any

Operator

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

disconnect. now You may

Kymera Therapeutics (KYMR) 7 Aug 242024 Q2 Earnings call transcript