Why Kymera Therapeutics Stock Popped This Week
This week was an eventful one for Kymera Therapeutics (NASDAQ: KYMR). The clinical-stage biotech announced the early completion of enrollment in an important clinical trial. It also earned a clutch of analyst price target raises. These developments were tempered by news of an insider stock sale.
Regardless, by Friday's market close, Kymera had risen by almost 30% over the five trading days, according to data compiled by S&P Global Market Intelligence.
Kymera, which specializes in medicines that use a process called targeted protein degradation (TPD), announced Thursday morning that it completed enrollment in a global Phase 2b trial of its leading drug candidate. This is KT-621, which will be tested in a trial to assess its efficacy in treating severe atopic dermatitis, a chronic skin condition.
Source Fool.com
