Kymera Therapeutics Inc at UBS BioPharma Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Of course. And listen, there's a lot of talk around targeted protein degradation. What this could mean as a modality? I think investor feedback recently has been come back in terms of excitement, so relative to 2 years ago. In your view, what do you think people are missing? What have we learned about this modality in the last couple of years from all the clinical data? And what do you see as the value of this modality relative to, say, traditional modalities like to the small molecule inhibitors and antibodies?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Great. Let's talk about 474. You recently moved into Phase II in atopic derm and HS. Can you tell us a little bit about the value of IRAK4? There's a lot going on in the I&I space. What's so promising about IRAK4 relative to the many other targets and walk us through some of the early data we've seen so far.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. And it seems like you have Phase II data coming from both of those programs in the first half of '25. That's a very important catalyst for you guys, and thinking about the proof of concept for degraders, as you mentioned. How should we think about what's clinically meaningful in these indications? And tell us a little bit more about the designs here? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 08, 2023 / 3:30PM, KYMR.OQ - Kymera Therapeutics Inc at UBS BioPharma Conference

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. And a common question I get from investors is how to think about the safety, both because we're using a novel modality. But also because of some of the QT prolongation effects that we're seeing in some of the very early data, maybe walk us through what was seen there? And what gives you confidence in the safety of your IRAK4 degrader?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Certainly very excited to see the data in the first half of 2025. Turning to oncology. You recently had a pretty meaningful update where you showed initial clinical efficacy data from your STAT3 and MDM2 degrader. Maybe starting with STAT3, can you tell us a little bit about the mechanism behind this target in oncology and where you see the potential role for this in future development?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Yes, certainly looking at the number of patients that you've dosed, but we haven't yet seen efficacy for. It's too early. Maybe what should we expect at this update at ASH?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Okay. And help us think about the potential opportunity in these T-cell lymphomas, the unmet need. And then also from a biology perspective, why do we think we're seeing efficacy in these particular lymphomas?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. And as you do cohort expansion and continue to dose escalate, how should we think about the degree of data in terms of -- that we could get next year and the time line from here?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : That will be interesting. Turning to the MDM2 degrader. Walk us through the rationale there, particularly relative to inhibitors and what we've seen from the early data?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : And the update for MDM2, would that include both from Arm A and Arm B?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Okay. And in terms of indication collection, both particularly in solid tumors where you're exploring that as well as in the heme, can you talk about the rationale, particularly in the cohort B for the indication selection, but then also in solid tumors where you think the biology might make the most sense? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 08, 2023 / 3:30PM, KYMR.OQ - Kymera Therapeutics Inc at UBS BioPharma Conference

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : It will be interesting to get more data next year on that at a midyear update?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Understood. Well, heading into your R&D Day in early January, what can we expect there?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. You started out at the beginning by saying that the most important part will be ultimately seeing the clinical impact specific drugs. How do you prioritize indication selection and therapeutic areas? Oncology, you seem very excited about the emerging immunology portfolio. What's your priority in terms of the strategic focus?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Okay. Absolutely. Well, with that, Nello, thank you so much for joining us, and we look forward to all the updates.