Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF KYVERNA THERAPEUTICS, INC. (NASDAQ: KYTX)

Kyverna Therapeutics, Inc. (NASDAQ: KYTX) is a clinical-stage biopharmaceutical company focused on developing cell therapies for patients suffering from autoimmune diseases. The Company’s lead product candidate is KYV-101. This class action was filed against Kyverna, eleven individual Defendants, and four underwriter Defendants.

On February 8, 2024, Kyverna conducted its IPO, offering 14.5 million shares of its common stock to the public at a price of $22 per share for anticipated proceeds of over $296 million. Kyverna granted the Underwriter Defendants a 30-day option to purchase up to an additional 2.175 million shares of its common stock at the Offering Price, less underwriting discounts and commissions.

An underlying securities fraud class action complaint alleges that the registration statement and prospectus issued in connection with the Company’s IPO misstated and/or omitted facts concerning the results of the Company’s ongoing evaluation of KYV-101 in clinical trials. The Complaint further alleges that unbeknownst to investors, these representations were materially inaccurate, misleading, and/or incomplete because they did not disclose adverse data regarding one of Kyverna’s trials, which adverse data was known to the Company at the time of the IPO.

If you purchased Kyverna (NASDAQ: KYTX) on or near its February 8, 2024 IPO and still hold shares today, you are encouraged to contact Joshua Grabar at [email protected], or call 267-507-6085.  You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

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