Kymera Q2 2026: $65M Revenue, $1.5B Cash, Runway Into 2029
KYMR has more than doubled off its 52-week low of $36.65.
Summary
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.
Key Events · Earnings and Guidance · KYMR
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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.
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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.
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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.
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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.
Analysis · 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.
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In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, KYMR was trading at $104.52 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.6B. The 52-week trading range was $36.65 to $130.05. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.