Kymera Therapeutics Inc: BROADEN2 Enrollment Completion Sets Up for Major YE26 Catalyst

研报英文原文证据摘录

Kymera Therapeutics Inc: BROADEN2 Enrollment Completion Sets Up for Major YE26 Catalyst

Update

June 25, 2026 12:00 PM GMT

Morgan Stanley & Co. LLCMKymera Therapeutics Inc | North America Judah C. Frommer, CFA

Equity Analyst

BROADEN2 Enrollment Judah.Frommer@morganstanley.comNicholas D Japhet +1 212 761-1270

Research Associate

Nick.Japhet@morganstanley.com +1 212 761-2721

Completion Sets Up for Major Parth Patel

Parth.Patel@morganstanley.com +1 212 761-5065

YE26 Catalyst

Kymera Therapeutics Inc (KYMR.O, KYMR US)

Biotechnology | United States of America

Key Takeaways Stock Rating Overweight

Industry View Attractive

Enrollment in the Ph2b BROADEN2 study of KT-621 in AD has been completed 6 Price target $119.00

months ahead of schedule. Shr price, close (Jun 24, 2026) $99.87

Mkt cap, curr (mm) $9,701

Topline data now expected by YE26 supporting potential Ph3 initiation by mid- 52-Week Range $105.00-36.65

2027.

Pace of enrollment offers incremental validation of the commercial opportunity

for KYMR's oral STAT6 degrader.

KYMR announced today that it has completed enrollment in the Ph2b

BROADEN2 study of KT-621 (oral STAT6 degrader) in AD six months ahead of

schedule (previous guide was completion by the end of the year). The update pulls

the topline readout forward to YE26 (vs. mid-2027 previously), supporting potential

Ph3 initiation by mid-2027 (subject to discussions with regulators). KYMR also

reiterated timing for the topline readout of the Ph2b BREADTH study of KT-621 in

eosinophilic asthma (late 2027). Recall, the BROADEN2 study randomizes ~200

adult and adolescent AD patients to receive one of three KT-621 doses or placebo,

with the primary endpoint (change in EASI score) evaluated at Week 16. The first

patient in the study was dosed in November 2025.