Kymera Therapeutics sweetened news of a setback Wednesday, revealing that Sanofi is pulling back from its lead IRAK4 degrader alongside details of the selection of a follow-up prospect and a $750 million deal with Gilead Sciences.

Kymera Therapeutics, Inc.'s stock rose on KT-621 data, but Sanofi's exit casts doubts. A Gilead Sciences, Inc. deal offers hope. Click for my GILD and KYMR update.

The core value driver remains KT-621, Kymera’s STAT6-targeting program. “STAT6 remains [the] primary driver to the story,” the analysts said, citing its potential to rival blockbuster drugs like Sanofi and Regeneron’s dupilumab.