Why Kymera Therapeutics Shares Are Falling Today

In its Q1 earnings release, Kymera Therapeutics Inc KYMR announced the selection of the equivalent of 100 mg, in the fed state, as the dose for the Phase 1 patient cohort (Part C).
The cohort is expected to enroll up to 20 patients with hidradenitis suppurativa (HS) and atopic dermatitis (AD).
In alignment with the FDA and partner Sanofi SA SNY, the Part C protocol has been amended to extend the dosing period from 14 to 28 days.
Related: JPMorgan Sees 'Limited Upside Potential' In Kymera Therapeutics' KT-474.
The change will allow for the exploration of clinical endpoints in both HS and AD patients and an extended safety dataset.
The company closed the March quarter with a cash balance of approximately $523 million, providing a cash runway into 2025.
Kymera will present clinical data from the HS and AD patients cohort in 2H 2022.
Deliver data package to Sanofi for a decision to proceed to Phase 2 in 2H 2022.
The company posted a Q1 EPS loss of $(0.71), missing the consensus of $(0.66)
Collaboration revenues were $9.6 million, compared to $18.7 million a year ago and missing the consensus of $16.23 million.
Price Action: KYMR shares are down 20.50% at $26.10 during the market session on the last check Tuesday.