Kymera Therapeutics Soars as Sanofi Expands Studies of Its Skin Diseases Drug
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Key TakeawaysKymera Therapeutics shares soared Tuesday, a day after it said partner Sanofi agreed to expand research into its experimental treatment for skin diseases.The biotech firm explained that Sanofi's decision came after an independent review board looked at the safety and efficacy of the drug, known as KT-474.Kymera and Sanofi signed a collaboration agreement in 2020.
Shares of Kymera Therapeutics (KYMR) jumped Tuesday, a day after it said partner Sanofi (SNY) agreed to extend a Phase 2 trial of its experimental drug to treat certain autoimmune skin diseases.Kymera announced that Sanofi made the decision after a preliminary safety and efficacy data review of its KT-474 medicine by an Independent Data Review Committee.KT-474 is being studied as a treatment for patients suffering from hidradenitis suppurativa and atopic dermatitis. It targets a key protein that plays a critical role in triggering the immune system response against invading pathogens.Founder and Chief Executive Officer (CEO) Nello Mainolfi explained that the expansion of the Phase-2 study, supported by the results of the interim analysis, “is intended to accelerate overall timelines and inform future registrational trials.”Kymera, Sanofi Have Collaborated Since 2020The two companies announced their partnership in 2020, with Kymera receiving $150 million in cash up front with the potential for an additional $2 billion or more in development, regulatory, and sales milestones, along with significant royalty payments.Kymera Therapeutics shares surged almost 19% to $37.90 as of 10:41 a.m. ET Tuesday and are up nearly 50% year-to-date. American depositary receipts (ADRs) of Sanofi were down about 1% to $49.78 and are essentially flat in 2024. Read the original article on Investopedia.
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