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KYTX.US
id: 1422

Kyverna Therapeutics (KYTX) IPO Misrepresentation Case

N.D. California
Court
5:24-cv-08869
Case number
02/08/2024
Class period Start
12/09/2024
Class period End
02/07/2025
Lead Plaintiff motion deadline
  • $KYTX investors sued Kyverna Therapeutics for misleading them about clinical trial results and risks tied to its lead product, KYV-101.
  • On June 14, 2024, Kyverna revealed negative trial data at an industry conference, contradicting its earlier positive IPO statements. Following this news, $KYTX dropped by 25%
  • $KYTX investors can join this case to be notified about potential recovery.

Case Details:


Kyverna Therapeutics held its IPO on February 8, 2024, raising over $296 million by selling 14.5 million shares at $22 each. In its filings, the company highlighted early positive results from KYV-101 trials for lupus nephritis, showing improvements in urine protein creatinine ratio (UPCR).

However, Kyverna failed to disclose existing adverse trial data, including safety concerns and dose-limiting toxicities, misrepresenting the risks of KYV-101.

On June 14, 2024, at the European Alliance of Associations for Rheumatology conference, Kyverna revealed the adverse data.

By December 2024, $KYTX had fallen to $3.92, an 82% decline from its IPO price, as the withheld information came to light.

Based on these events, $KYTX investors filed a lawsuit against Kyverna Therapeutics, accusing the company of the following:
  • It misled investors by omitting adverse trial data from its IPO filings.
  • It failed to disclose risks associated with its lead product candidate, KYV-101.
Investors believe Kyverna misled them by withholding critical information about safety concerns and trial risks related to KYV-101.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements, 
Failure to Disclose
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06/14/2024
Filing date
12/09/2024
Lead Plaintiff Deadline
02/07/2025
Collecting participants…

Kyverna Therapeutics, Inc.

Kyverna Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, ...

    Ticker
    KYTX.US
    CIK
    1994702
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    5980 Horton Street, Emeryville, CA, United States, 94608