Kymera (KYMR) Jumps to All-Time High as Eczema Treatment Results Impress

We recently published 10 Stocks Standing Tall Amid Market Fall; 6 Hit Record Highs. Kymera Therapeutics, Inc. (NASDAQ:KYMR) is one of the best performers on Monday.

Kymera Therapeutics soared to a new all-time high on Monday after rallying for four consecutive days, as investor sentiment was boosted by the stellar results of its clinical trial to test the efficacy of KT-621 in patients with moderate to severe eczema.

At intra-day trading, the stock soared to its highest price of $103 before trimming gains to end the day just up by 41.55 percent at $94.30 apiece.

According to Kymera Therapeutics, Inc. (NASDAQ:KYMR), it tested KT-621 on 22 enrolled patients for four weeks and nearly eliminated by 98 percent and 94 percent a transcription factor called STAT6, which fuels allergic inflammation in both blood and skin, respectively.

In other news, Kymera Therapeutics, Inc. (NASDAQ:KYMR) announced plans to raise $500 million from the issuance of new shares, with the potential to increase the size to $575 million.

The company said that proceeds from the offer will be used to finance its ongoing pipeline of preclinical and clinical degrader programs, while the balance will be used for working capital and other general corporate purposes.

In line with the offer, Kymera Therapeutics, Inc. (NASDAQ:KYMR) granted its underwriters an option to purchase an additional $75 million at the public offer price.

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