Kymera Therapeutics Inc. debuted on NASDAQ Friday by pricing its upsized IPO of 8.68 million common shares at $20 each as it eyes gross proceeds of $173.3 million. By the end of the day, Kymera stock (NASDAQ:KYMR) had soared 66.3%, with shares closing at $33.26 each.
The industry's expanding quest for protein degraders grew a little larger on July 9 with Sanofi SA tapping Kymera Therapeutics Inc. to advance two new protein degrader programs, one of which will target IRAK4 in patients with immune-inflammatory diseases and another for an undisclosed target. Each program could yield multiple therapies.
