Kymera Therapeutics reported two notable clinical developments: an oral STAT6 degrader produced biologics‑like biomarker activity in a Phase Ib atopic dermatitis study, and its oral pill KT‑621 showed Dupixent‑comparable efficacy in a small Phase 1b eczema cohort. The degrader readout triggered a substantial share rally while the pill reinforced Kymera’s multiple‑modality strategy. The STAT6 program demonstrated target engagement and downstream biomarker changes resembling injectable biologics; degraders are targeted molecules that induce selective protein destruction rather than simple inhibition. The KT‑621 pill produced a rapid reduction in EASI scores across 22 patients, per company presentations. Together the readouts position Kymera as a contender across both small‑molecule degradation and oral immunology, prompting questions about durability, larger‑scale tolerability and paths to registrational trials.