Kyverna Therapeutics, Inc.
| Company Name | Kyverna Therapeutics, Inc. |
| Stock Symbol | KYTX |
| Class Period | February 04, 2024 to December 09, 2024 |
| Lead Plaintiff Motion Deadline | February 07, 2025 |
On or about February 8, 2024, Kyverna conducted its IPO selling 14.5 million shares of common stock for $22.00 per share.
On June 14, 2024, Kyverna provided an update on its lupus nephritis drug, KYV-101, and published an investor presentation disclosing adverse data regarding one of its clinical trials, despite having previously touted patient improvement.
Investors have suffered significant losses since the IPO. At the time of filing, Kyverna’s stock price traded as low as $3.92 per share, more than 82% the IPO price.
The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) adverse data it possessed related to one of its trials; (2) the risk posed by the Company’s withholding of adverse data regarding one of its clinical trials; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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