Kymera Q2 2026: $65M Revenue, $1.5B Cash, Runway Into 2029

summarizeSummary

Kymera Therapeutics posted Q2 2026 revenue of $65 million and ended the quarter with $1.5 billion in cash, extending its runway into 2029. The results were bolstered by milestone payments from Gilead and Sanofi.

check_boxKey Events · Earnings and Guidance · KYMR

• Q2 Revenue of $65M

  Collaboration revenue reached $65.0 million, up from $11.5 million in Q2 2025, driven by a $45.0 million option exercise payment from Gilead and a $20.0 million milestone from Sanofi for dosing the first patient in the KT-485 Phase 1 trial.

• Cash Runway Extended to 2029

  Cash, cash equivalents, and marketable securities totaled $1.505 billion as of June 30, 2026. Management expects this to fund operations into 2029, beyond multiple clinical inflection points.

• New $500M ATM Program

  In February 2026, Kymera entered into a new at-the-market sales agreement with Cowen for up to $500 million in common stock. No shares have been sold under this program as of June 30, 2026.

• Net Loss Narrows

  Net loss was $61.2 million ($0.62 per share) compared to $76.6 million ($0.95 per share) in Q2 2025, reflecting higher collaboration revenue and increased interest income, partially offset by higher R&D spending.

auto_awesomeAnalysis · KYMR · Life Sciences

Kymera reported $65 million in collaboration revenue for Q2 2026, driven by a $45 million option exercise payment from Gilead and a $20 million milestone from Sanofi. The net loss narrowed to $61.2 million from $76.6 million a year ago. Cash and marketable securities stand at $1.5 billion, which management expects to fund operations into 2029 — beyond multiple clinical readouts. The quarter also saw the establishment of a new $500 million at-the-market equity program, providing additional financing flexibility but creating potential dilution overhang. Against a backdrop of heavy insider selling in recent months, the strong cash position and extended runway are the key takeaways.