EMERYVILLE, Calif., Feb. 12,
2024 /PRNewswire/ -- Kyverna Therapeutics, Inc.
(Kyverna), a patient-centered clinical-stage biopharmaceutical
company focused on developing cell therapies for patients suffering
from autoimmune diseases, today announced the closing of its
upsized initial public offering of 16,675,000 shares of its common
stock, which includes the exercise in full by the underwriters of
their option to purchase 2,175,000 additional shares, at an initial
public offering price of $22.00 per
share. All of the shares were offered by Kyverna. The aggregate
gross proceeds from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
Kyverna, were approximately $366.9
million. Kyverna's common stock began trading on the Nasdaq
Global Select Market on February 8,
2024 under the ticker symbol "KYTX."
J.P. Morgan, Morgan Stanley, Leerink Partners, and Wells Fargo
Securities acted as joint book-running managers for the
offering.
A registration statement relating to the offering has been filed
with the U.S. Securities and Exchange Commission (SEC) and became
effective on February 7, 2024. A
prospectus relating to and describing the terms of the offering has
been filed with the SEC and is available on the SEC's website at
www.sec.gov. The offering was made only by means of a prospectus.
Copies of the final prospectus may be obtained from J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717,
by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY 10014, or by email at
prospectus@morganstanley.com; Leerink Partners LLC, Attention:
Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800)
808-7525, ext. 6105, or by email at syndicate@leerink.com; and
Wells Fargo Securities, 90 South 7th Street, 5th Floor,
Minneapolis, MN 55402, at
800-645-3751 (option #5) or email a request to
WFScustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Kyverna Therapeutics
Kyverna is a
patient-centered, clinical-stage biopharmaceutical company focused
on developing cell therapies for patients suffering from autoimmune
diseases. Our lead product candidate, KYV-101 is advancing through
clinical development across two broad areas of autoimmune disease:
rheumatology and neurology, including Phase 2 trials for multiple
sclerosis and myasthenia gravis, a Phase 1/2 trial for systemic
sclerosis, and two ongoing multi-center, open-label Phase 1 trials
in the United States and
Germany for patients with lupus
nephritis.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements." The words, without limitation,
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would" and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these or similar identifying
words. Actual results may differ materially from those indicated by
such forward-looking statements as a result of various important
factors, including: uncertainties related to market conditions, and
other factors discussed in the "Risk Factors" section of the final
prospectus. Any forward-looking statements contained in this press
release are based on the current expectations of Kyverna's
management team and speak only as of the date hereof, and Kyverna
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Kyverna Media Contact:
Consort Partners for
Kyverna
kyvernatx@consortpartners.com
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SOURCE Kyverna Therapeutics