Kyverna Therapeutics, Inc. KYTX
We are a late-stage clinical biopharmaceutical company focused on developing cell therapies for patients with autoimmune diseases. Our mission is to liberate patients from autoimmune diseases through the curative potential of cell therapy. Our development strategy is supported by our breadth of experience in treating more than 100 autoimmune patients with our lead product candidate, mivocabtagene autoleucel, or miv-cel, also known as KYV-101, an anti-CD19 autologous CAR T with a differentiated CAR construct. This has been documented through the scientific publication of multiple autoimmune case studies, our proprietary dataset of patients treated through named patient forms of compassionate use, our experience in ongoing investigator-initiated trials, or IITs, at leading academic institutions, as well as early clinical data from our ongoing company-sponsored trials illustrating the potential of these therapies to deeply deplete B cells with the aim of achieving durable treatment-free remission. This validation provides us with a clear path to continue advancing miv-cel through late-stage clinical development and commercialization across multiple autoimmune indications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| R&D | $133.7M | $112.5M | $49.9M | — |
| SG&A | $36.1M | $30.1M | $12.5M | — |
| Total operating expenses | $169.8M | $142.6M | $62.4M | — |
| Operating income | -$169.8M | -$142.6M | -$62.4M | — |
| Interest expense | $489.0K | $142.0K | $187.0K | — |
| Pre-tax income | -$161.3M | -$127.5M | -$60.4M | — |
| Income tax | $0 | $0 | $0 | — |
| Net income | -$161.3M | -$127.5M | -$60.4M | — |
| EPS, basic | -3.64 | -3.33 | -89.61 | — |
| EPS, diluted | -3.64 | -3.33 | -89.61 | — |
| Shares, diluted (wtd. avg.) | 44.3M | 38.3M | 673,622 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $124.1M | $96.6M | $34.6M | — |
| Short-term investments | $155.2M | $189.4M | $22.9M | — |
| Total current assets | $283.0M | $290.6M | $60.7M | — |
| Property, plant and equipment | $1.5M | $3.3M | $2.3M | — |
| Total assets | $293.8M | $304.6M | $75.2M | — |
| Accounts payable | $5.3M | $4.6M | $4.4M | — |
| Total current liabilities | $36.5M | $33.8M | $19.9M | — |
| Total liabilities | $61.5M | $38.1M | $26.0M | — |
| Retained earnings | -$424.8M | -$263.5M | -$136.0M | — |
| Total equity | $232.3M | $266.6M | -$13.1M | -$74.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$153.7M | -$114.2M | -$52.4M | — |
| Depreciation and amortisation | $1.8M | $2.1M | $1.7M | — |
| Stock-based compensation | $10.1M | $8.4M | $2.2M | — |
| Capital expenditure | $5.0K | $2.2M | $621.0K | — |
| Investing cash flow | $40.0M | -$160.9M | -$8.8M | — |
| Financing cash flow | $141.2M | $337.1M | $58.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-126242.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Net income | — | -$60.4M | -$127.5M | -$161.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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