Home Top Movers Why Did The KYMR Stock Rise Nearly 17% on Wednesday?

Why Did The KYMR Stock Rise Nearly 17% on Wednesday?

The shares of Kymera Therapeutics, Inc. (NASDAQ: KYMR) gained 16.76% during the trading session on Wednesday. The Kymera stock reached a low of $31.97 while ending the day at $37.00.

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During the trading session, a total of 0.55 million shares of KYMR stock were traded which represents a 59.76% incline from the average session volume which is 341.34K shares. KYMR stock had ended its last session trading at $36.29.

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The KYMR stock surged in absence of news that could drive the momentum but the recent development could provide a better insight into the stock’s potential.

Recent development:

Based in Boston, Kymera Therapeutics is providing targeted protein degradation therapies, a novel pipeline platform that addresses previously intractable targets of disease. Degrading disease-causing proteins is made easier by KYMR’s Pegasus targeted protein degradation platform. In addition, KYMR focuses on undrugged nodes in validated pathways that are not accessible with conventional therapies.

Kymera recently presented mid-stage preclinical data showing how dual targeting of IRAK4 and IMiDs parallels the impact of KT-413 on intracellular signaling and the clinical response to DLBCL resulting from a MYD88 mutation.

  • LB118: Mechanisms of synergistic activity and its interaction with MYD88MT DLBCL of KT-413, a degrader of IRAK4 and IMiD substrates, was presented at the AACR 2021 Annual Meeting.
  • With a single molecule, IRAKIMiDs degrade both IRAK4 and IMiD substrates, namely IRAK4 and IMiD substrates, Ikaros and Aiolos.
  • IRAKIMiDs enhance and broaden anti-tumor activity in MYD88-mutant DLBCL by targeting both the MYD88-NFkB and IRF4-Type 1 interferon pathways synergistically.
  • The treatment of MYD88-mutant DLBCL is being developed at KT-413, possibly expanding into other MYD88-mutant indications and IL-1R/NFkB-driven hematological cancers.

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Where is KYMR going next?

Kymera (KYMR) intends to submit an Investigational New Drug Application (IND) to the U.S. Food and Drug Administration (FDA) for KT-413. In the second half of 2021, KYMR plans to initiate a Phase 1 clinical study in relapsed or refractory follicular lymphomas, including follicular lymphomas with MYD88 mutations.

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