Atlas Venture Just Harvested $45 Million in Kymera Therapeutics
Atlas Venture Fund X and Atlas Venture Opportunity Fund I sold $45.3M in Kymera shares under December 2025 10b5-1 plans at $90-$104. Booth also exercised $20 strike options personally. Core Atlas stake retained. Full breakdown inside.
π΄ Insider Activity Score: 95/100
Bruce Booth, independent director of Kymera Therapeutics and Atlas Venture partner, filed a Form 4 on June 22, 2026 disclosing the aggregate distribution of 478,198 common shares across Atlas Venture Fund X and Atlas Venture Opportunity Fund I β executed under Rule 10b5-1 plans adopted in December 2025 β at prices ranging from $90.38 to $104.87 for approximately $45,286,413 in combined gross proceeds. Booth separately exercised 11,741 personal options at a $20.00 strike and sold the resulting shares in the same window. The December 2025 plans are the analytical anchor. The $90 to $104 execution range is what Kymera's protein degrader momentum delivered to plans designed before the current appreciation cycle's full magnitude was knowable.
The December 2025 Plans: Venture Fund Lifecycle Distribution
The Rule 10b5-1 plans adopted in December 2025 β approximately six months before the June 2026 execution window β govern both Atlas fund vehicles simultaneously, confirming a coordinated fund-house capital return decision rather than individual vehicle portfolio management.
Atlas Venture Fund X and Atlas Venture Opportunity Fund I are separate vehicles with distinct LP bases and vintage timelines, but both plans were adopted in December 2025 and both execute in the same June 2026 window β the fund-house lifecycle decision to begin systematic capital return to both LP bases simultaneously, timed to the Kymera appreciation cycle that the protein degrader platform's clinical validation has produced.
The $90.38 to $104.87 execution range across the multi-day distribution reflects the plan's price-agnostic character: the December design did not target a specific price tier within that $14.49 spread β it ran the designated sessions at whatever Kymera offered across the execution window, collecting the full range that the protein degrader momentum cycle produced day by day.
The Personal Option Exercise: Separate Track
Booth's personal exercise-and-sell of 11,741 options at a $20.00 strike is analytically separate from the Atlas fund distributions β a director-level personal compensation realization running alongside the institutional venture fund lifecycle event.
At the $90 to $104 execution range, the $20.00 strike options deliver approximately $70 to $84 per-share spread β the accumulated appreciation of a director compensation grant issued when Kymera traded near that level, now being collected as the protein degrader thesis has delivered the clinical validation that elevated the stock into triple digits. The personal exercise-and-sell is the compensation calendar delivering its designed output. The Atlas fund distributions are the venture capital lifecycle delivering theirs.
The $90 to $104 Range: Protein Degrader Momentum
Kymera Therapeutics operates at the frontier of targeted protein degradation β a therapeutic modality that deploys bifunctional small molecules to recruit E3 ubiquitin ligases and tag disease-causing proteins for proteasomal destruction. The platform's ability to degrade previously undruggable targets β transcription factors, scaffolding proteins, and other non-enzymatic disease drivers β has attracted intense institutional attention as the clinical validation of early degrader candidates has progressed.
The $90 to $104 execution range reflects the market's current pricing of that clinical validation momentum β prices that the December 2025 plans collected across a multi-day window as Kymera's protein degrader pipeline advanced through its development calendar.
For Atlas funds retaining a dominant multi-million share position after the December plans' June execution, the protein degrader platform's continued clinical progress is the commercial thesis the retained allocation is backing.
About Kymera Therapeutics, Inc.
Kymera Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing targeted protein degrader therapeutics using its proprietary Pegasus platform to address disease targets previously inaccessible to conventional drug modalities. Atlas Venture Fund X and Atlas Venture Opportunity Fund I distributed 478,198 shares under December 2025 Rule 10b5-1 plans for approximately $45.3 million while retaining a dominant multi-million share core position. Director Bruce Booth separately exercised 11,741 personal options at a $20.00 strike. Kymera trades on the Nasdaq under the ticker KYMR.
How to Think About This
The Atlas dual-fund distribution scores 95/100 β the alarm-management calibration for a $45 million venture capital lifecycle harvest at a clinical-stage protein degrader company, with December 2025 plan insulation across both vehicles and a dominant retained core stake confirming the thesis is not concluded.
The December plans ran the $45 million across the $90 to $104 range. The core Atlas stake is backing what the protein degrader pipeline delivers from here. The personal option exercise ran the $20 strike compensation delivery alongside it.
Three separate transactions. Two fund vehicles. One analytical conclusion: December calendars executing the venture fund lifecycle at whatever Kymera's protein degrader momentum offered in June.