Kymera Therapeutics Inc at UBS Global Healthcare 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 : And I guess maybe to kick it off before we jump into the programs. High level, what is it about targeted protein degradation that you think is so exciting and potentially disruptive as a novel modality?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. And maybe just kind of high level, in maybe 5, 10 years, where do you see protein degradation as a field?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Absolutely. And I mean we could sit here and talk about IRAK4 and QTc for quite some time. But maybe in lieu of that, let's start with STAT3 when it comes to your programs. Maybe just starting with STAT3, can you tell us a bit of how this has historically been an undruggable target and why this could potentially be such a high-value target in the context, I guess, starting with oncology.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Yes, it's exciting biology. And maybe just what we've learned from other modalities in STAT3, whether it's anti (inaudible) or if there have been prior inhibitors and what can give us confidence from what we've seen so far.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : All right. I don't know, Jared, if you have any other (inaudible).

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Maybe I guess just thinking about the initial Phase I/II dose escalation of the STAT3. Obviously, you're beginning dosing either or have dosed the first patient.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Okay. Well, soon to dose or have dosed the first patient?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Soon to be confirmed. How should we think about the initial study design and any initial data that we could be getting this year? I know, obviously, early to think about things like responses, but just anything in terms of proof of biology, target engagement, safety and what we should be looking for there? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 23, 2022 / 5:15PM, KYMR.OQ - Kymera Therapeutics Inc at UBS Global Healthcare Conference

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Got it. It's exciting. And then maybe just moving to the IRAKIMiD program. Maybe if you guys could tell us a little bit about this molecule kind of maybe a more unique contract to the traditional heterobifunctional and the biological rationale in the MYD88 heme malignancies.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Exciting. Maybe can you tell us a little bit more about MYD88 lymphomas and maybe just from the clinical side, sort of the prevalence and how to think about the path forward? Because theoretically, this could be a high unmet need, [possible. I know] these are my words, not yours, but like potential single-arm accelerated pathway type population. So just any more color on the patient population, standard of care prevalence?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Got it. That's helpful. And how should we think about what to look for in the initial data? Obviously, early and continuing to dose escalate, but what we could potentially see, say, by the end of this year, and what we should look for heading into next year?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Got it. It's exciting. And then I guess turning maybe to MDM2. I mean can you elaborate a bit on the target biology here as well as the time lines?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Interesting. So a lot going on in the pipeline. I guess turning back to your lead program, the IRAK4 degrader. I know it's been a topic of much conversation recently. Maybe high level, after kind of the update on the signal with QTc prolongation, I guess, what drives your confidence that in the development path forward for this molecule and confidence in the safety profile?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Okay. That's very helpful. And maybe just could you help us understand at least your current hypothesis around what caused this? Is this target specific, molecule specific related to degradation? And what drives your confidence that this won't affect other programs potentially in the future?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : And sort of this like low affinity for this ion channel, is this something you've seen with other molecules? And how should we think about this going forward and what to look for in some of your other readouts as well? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 23, 2022 / 5:15PM, KYMR.OQ - Kymera Therapeutics Inc at UBS Global Healthcare Conference

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : That's good to hear. Maybe just in terms of both the [food] study as well as the clinical studies, can you tell us a little bit about some of the monitoring that you're doing and maybe kind of your confidence level around the fact that this affinity might be saturated at the dose levels that are being studied or is it potentially already sort of hitting a plateau and we won't see further QTc prolongation.

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Got it. And I guess, to ask the million-dollar question, what are you looking to see at this data, the 28-day data from a potential efficacy perspective as well as also a safety perspective to give you guys confidence in the profile?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Makes sense. And I guess for you, Bruce, maybe just on the cash runway and how to think about, obviously, a lot of potential areas to invest in from the platform as well as the clinical programs, how you're thinking about sort of capital allocation as well as cash runway and the time frame in which we could learn about a potential Sanofi opt-in?

Question: Eliana Rachel Merle - UBS Investment Bank, Research Division - Analyst : Awesome. Well, with that, I think we're out of time, but thank you guys so much for joining us.