Why Kymera Therapeutics Stock Crushed it This Week
According to data compiled by S&P Global Market Intelligence, Kymera Therapeutics (NASDAQ: KYMR) notched an almost 23% share price gain across this week. That made it a standout in the ever-volatile biotech sector. Investors were cheered by a pair of announcements published by the company.
Kymera is a clinical-stage biotech that specializes in a mechanism known as targeted protein degradation in its medicines. On Tuesday, the company delivered encouraging news from the laboratory, writing in a press release it had initiated dosing in a phase 1b clinical trial of its investigational drug KT-621.
That medication is intended to treat severe atopic dermatitis (AD), more popularly known as eczema. This is a common disorder that presents in dry and inflamed skin. Kymera anticipates that it will be able to report data from the trial at some point in the fourth quarter of this year.
Source Fool.com
