Why Is KYMR Stock Up 54% Today?

• Kymera CEO Nello Mainolfi stated that the BroADen study exceeded the company’s expectations.
• He said the findings also show that KT-621 has demonstrated its potential as a once-a-day oral treatment for Type 2 inflammatory diseases.
• Kymera said that KT-621 was well-tolerated with a favorable safety profile consistent with the Phase 1a healthy volunteer trial results.

Kymera Therapeutics Inc. (KYMR) shares were up nearly 54% in Monday morning’s trade after the company announced positive results from its Phase 1b clinical trial of KT-621 in patients with moderate to severe atopic dermatitis.

The company stated that its BroADen clinical trial of KT-621 showed that it achieved median reductions in STAT6 degradation of 94% and 98% in skin and blood, respectively, in the 100mg and 200mg dose groups.

Retail sentiment on Stocktwits around the Kymera stock trended in the ‘extremely bullish’ territory at the time of writing.

What Do The Findings Show?

Kymera CEO Nello Mainolfi stated that the BroADen study exceeded the company’s expectations. He added that the findings also show that KT-621 has demonstrated its potential as a once-a-day oral treatment for Type 2 inflammatory diseases, including STAT6 degradation, biomarker modulation, clinical activity, impact on other comorbid Type 2 diseases, and safety.

STAT6 degradation refers to the targeted breakdown of the STAT6 protein as a therapeutic strategy aimed at allergic and inflammatory diseases such as atopic dermatitis (AD), asthma, bullous pemphigoid (BP), and chronic obstructive pulmonary disease, among others.

Safety Results

Kymera said that KT-621 was well-tolerated with a favorable safety profile consistent with the Phase 1a healthy volunteer trial results. The company added that there were no serious or severe adverse events, or adverse events of conjunctivitis, herpes infections, or arthralgias.

Kymera also stated that there were no clinically relevant changes in the participants' vital signs, laboratory tests, or electrocardiograms. 

KYMR stock is up 149% year-to-date and 115% over the past 12 months.

Also See: With Fed Rate Announcement Scheduled For Wednesday, Here’s How US Treasury Yields Are Behaving

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