Overview

A class action lawsuit has been filed against Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NASDAQ: KYTX) and certain of the Company’s senior executive officers alleging violations of the federal securities laws.  The Kyverna class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Kyverna common stock issued in connection with the Company’s initial public offering (‘IPO”) (the “Class Period”).  Investors have until February 7, 2025, to seek appointment as lead plaintiff in the Kyverna class action lawsuit.

Kyverna, headquartered in Emeryville, California, is a clinical-stage biopharmaceutical company focused on developing cell therapies for patients suffering from autoimmune diseases.  The Company’s cell therapy approach to treating autoimmune diseases focuses on multiple autoimmune case studies using CD19 chimeric antigen receptor (“CAR”) T-cell treatment, a type of immunotherapy that genetically modifies T cells, which are a type of white blood cell called lymphocytes, to target CD19 on the surface of malignant B cells, another lymphocyte.

The Company’s lead product candidate is KYV-101.  The Company maintains, among others, a clinical development program for KYV-101 studying lupus nephritis (“LN”), a kidney disease that commonly develops in patients with systemic lupus erythematosus (“SLE” or “lupus”).  The Company initiated two clinical trials of KYV-101, KYSA-1 (NCT05938725) and KYSA-3 (NCT06342960), respectively, to evaluate, among other things, the incidence of adverse events and laboratory abnormalities, the frequency of dose-limiting toxicities, efficacy, and immunogenicity (the ability of a substance to cause an immune response in an organism).  As the sponsor of the trials, Kyverna monitors and receives data from trial participants in an ongoing basis.

The Kyverna class action lawsuit alleges that the registration statement and prospectus used to effectuate the Company’s IPO misstated and/or omitted facts concerning the results of the Company’s ongoing evaluation of KYV-101 in clinical trials.  Specifically, the Company touted patient improvement in certain indicators while failing to disclose adverse data regarding one of Kyverna’s trials, which adverse data was known to the Company at the time of the IPO.  As a result, investors purchased Kyverna shares at artificially inflated prices.  As these true facts emerged after the Offering, the Company’s shares fell sharply, severely harming investors.  By the commencement of this action, Kyverna’s shares traded as low as $3.92 per share, a decline of more than 82% from the Offering Price.

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If you purchased or otherwise acquired Kyverna common stock issued in connection with the Company’s IPO and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Kyverna class action lawsuit is February 7, 2025.