KYMR - Updating PT for accelerated AD timeline and excitement around recent Biotech M&A news. PT to $136 vs. $116 prior.

研报英文原文证据摘录

KYMR - Updating PT for accelerated AD timeline and excitement around recent Biotech M&A news. PT to $136 vs. $116 prior.

Truist Securities

Equity Research Report June 26, 2026

HEALTHCARE: Biotech Kymera Therapeutics Inc. (KYMR)

KYMR - Updating PT for accelerated AD timeline and excitement Srikripa Devarakonda, Ph.D.

212-303-4173 around recent Biotech M&A news. PT to $136 vs. $116 prior.

Srikripa.Devarakonda@truist.com

Alexander Xenakis We remain positive on Kymera following accelerated timelines for lead KT-621 in AD,

212-590-0954 a highly competitive indication where we see differentiation evidenced by ~6-month

Alexander.Xenakis@truist.com accelerated timeline signaling potential clinician enthusiasm for an oral drug with biologic-

like efficacy. Following the news, we caught up with a few derm experts and note consistent

Anna Li feedback indicating there is demand for an oral Dupi and would be satisfied with Dupi-like

212-326-6090 efficacy; we continue to see a high level of enthusiasm among derm KOLs.

Anna.Li@truist.com

After faster than expected progress for KT-621 in Ph2b atopic dermatitis (AD) enrollment,

we adjust our model to account for increased POS in AD trial, in part based on positive Ph1

Stock Rating BUY results, and pull launch timeline forward one year to 2029 from 2030 given anticipated Ph3

Unchanged start in mid-2027. Although Ph2b asthma readout remains forecasted for late 2027, we think

timelines have potential for acceleration with oral enthusiasm as well, but note that asthma

Price Target $136.00 trial enrollment timelines have historically taken longer than that of AD.

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from Further, we note recent news around Apogee (APGE, Hold, Brill), which is being acquired by