SDGR · Schrodinger, Inc.

KYMR

Kymera Therapeutics, Inc.

Oral STAT6 degrader (KT-621) re-rated on early BROADEN2 enrollment (6/25) and the $10.9B AbbVie–Apogee read-through, but the analyst upgrade cycle topped with RBC's 7/13 downgrade to neutral and the binary topline is 2H-2026 — a maturing, stretched theme structurally supported on a pullback to the $100 shelf rather than into the catalyst gap.

SYRE

Spyre Therapeutics, Inc.

Two of three lead binaries (SPY001, SPY002 anti-TL1A) printed potential best-in-class; the stock absorbed a ~$399.7M director-fund block sale and sits back near its ~$102 ATH (~$95). Next legs — SPY003 IL-23 Part A (guided mid-2026, overdue) and SPY072 RA topline (accelerated to Q3) — are the near-term binaries. Platform de-risked, but distribution flags plus ~1:1 R/R to $100–135 targets argue probe-only into an all-time high.

APGE

Apogee Therapeutics, Inc.

AbbVie's all-cash $135.11 takeout is now funded as well as approved — nine tranches of senior notes priced 2026-08-05 (~$9.93B net, settling 2026-08-18), HSR expired 2026-08-05, stockholders approved 2026-08-11. The 2026-08-28 close of $134.97 leaves terminal settlement carry into a guided Q3-2026 close, capped at the bid with break gravity to the $90.38 pre-bid close, and a saturated narrative in which no published target sits above $135.11.

CRNX

Crinetics Pharmaceuticals, Inc.

The equity is a settlement claim now: stockholders adopted the Vertex $85.00 cash merger at the 2026-08-28 special meeting, every antitrust clock has run, and closing is guided to early September. The 2026-08-28 close of $84.84 leaves $0.16 to terms against roughly $42 of break exposure — a days-long deal calendar rather than a momentum leg.