Kymera doubles cash to $1.5B, extends runway to 2029 on Gilead CDK2 deal and Sanofi pivot

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

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  Gilead exercised option on KT-200 (CDK2 degrader) in April 2026, triggering $45M milestone due Q2 2026; company remains eligible for up to $665M in additional milestones plus royalties. Original collaboration announced June 2025 with $40M upfront.

  MD&A: Gilead CDK2 collaboration verify on EDGAR →
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  Cash and marketable securities doubled from $775.5M (Q1 2025) to $1,546M (Q1 2026), extending projected cash runway from mid-2028 to 2029. Total capital raised to date increased from $1.71B to $2.75B, reflecting collaboration payments and equity issuances.

  MD&A: Cash runway extension verify on EDGAR →
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  Sanofi discontinued KT-474 (IRAK4, in Phase 2 for hidradenitis suppurativa and atopic dermatitis) in June 2025, electing instead to advance second-generation degrader KT-485 into clinical testing in 2026. Company remains eligible for up to $975M in IRAK4 program milestones.

  MD&A: Sanofi program shift verify on EDGAR →