Why Kymera Therapeutics, Inc. (KYMR) Skyrocketed On Monday

We recently published a list of These 10 Stocks Blew Past Expectations. In this article, we are going to take a look at where Kymera Therapeutics, Inc. (NASDAQ:KYMR) stands against other top-performing stocks on Monday.

Kymera Therapeutics saw its share prices surge by 45.51 percent on Monday to end at $43.13 apiece following the early-stage success of its drug candidate for the treatment of the moderate to severe form of eczema.

In a statement, Kymera Therapeutics, Inc. (NASDAQ:KYMR) said that its primary objective to demonstrate that its drug candidate, KT-621, could achieve robust STAT6 degradation in blood and skin went “well beyond our expectations.”

A biopharmaceutical laboratory with scientists in lab coats working on medicines.

The first phase of the trial enrolled 118 healthy volunteers who tested the safety and tolerability of KT-621.

“Building from the compelling preclinical data … is a powerful demonstration of what we believe is an impeccable translation into humans,” it said.

If the drug succeeds all trials and secures regulatory approvals, it would rival Sanofi and Regeneron’s blockbuster therapy, Dupixent.

Following the trial results, Kymera Therapeutics, Inc. (NASDAQ:KYMR) earned a “buy” recommendation and a higher price target of $51 from Bank of America, versus $44 previously.

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Disclosure: None. This article is originally published at Insider Monkey.