2024-03-21 16:28:46 ET
Summary
- Kymera Therapeutics' shares have dropped from $81 to $39 since my note back in 2021, but have risen >130% in the past 6m.
- The company's technology targets the ubiquitin proteasome system to degrade disease-causing proteins.
- Kymera's lead candidate, KT-474, is being developed to treat autoimmune conditions and has shown promising results in Phase 1 studies.
- Partner Sanofi has opted to take KT-474 into Phase 2 studies, paying $55m to do so.
- Kymera has struggled since reaching post-IPO highs of >$80, but preclinical and clinical validation of several programs offers fresh hope of long-term recovery.
Investment Overview
Back at the beginning of 2021, I shared a note on Kymera Therapeutics ( KYMR ) with Seeking Alpha readers titled "Kymera Therapeutics Is A Protein Degrading Pioneer With A Triple-Figure Share Price In Waiting".
Looking back today, now that Kymera shares trade at a value of $39 (they were priced at $81 when I posted my note), it's clear I was over-optimistic, although my call was based on several factors which arguably still remain true today, and since I did not specify a time-line, perhaps Kymera can deliver the magical $100 per share price tag after all!...
Read the full article on Seeking Alpha
For further details see:
Kymera Therapeutics: Advancing Into Phase 2 With Partner Sanofi - I Still Have Faith