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Kyverna Therapeutics, Inc.
(NASDAQ:KYTX)
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Rating:47Neutral
Price Target:
$6.00
▼(-30.56% Downside)
Action:Reiterated
Date:09/24/26
The score is held down mainly by very weak financial performance (no TTM revenue, widening losses, and heavy cash burn) and bearish technicals (price below key moving averages with negative MACD). Offsetting this somewhat are constructive corporate events—positive clinical durability/safety data with a near-term BLA timeline and steps to secure manufacturing and financing capacity—supporting a higher forward-looking outlook despite current funding and execution risk.
Positive Factors
Durable clinical efficacy
Durable, statistically significant clinical benefit with continued tolerability strengthens miv-cel’s case for regulatory review in stiff person syndrome. The results also support the platform’s potential in autoimmune disease and provide a more credible foundation for development and eventual commercialization.
Negative Factors
No commercial revenue
The absence of commercial revenue leaves Kyverna dependent on external financing while its therapies remain in development. Until an approval and launch generate sales, the company has limited internally funded operating capacity and remains exposed to delays in regulatory and clinical milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable clinical efficacy
Durable, statistically significant clinical benefit with continued tolerability strengthens miv-cel’s case for regulatory review in stiff person syndrome. The results also support the platform’s potential in autoimmune disease and provide a more credible foundation for development and eventual commercialization.
Read all positive factors
Kyverna Therapeutics, Inc. (KYTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$403.22M
Dividend YieldN/A
Average Volume (3M)836.32K
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue GrowthN/A
EPS Growth20.07%
CountryUS
Employees149
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.94
Shares Outstanding61,843,445
10 Day Avg. Volume1,139,267
30 Day Avg. Volume836,318
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)1.79
Price to Sales (P/S)0.00
P/FCF Ratio-2.71
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$30.33Price Target Upside251.08% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-2.76
Revenue Forecast (FY)N/A
Kyverna Therapeutics, Inc. Business Overview & Revenue Model
Company Description
Kyverna Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients with autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the trea...
How the Company Makes Money
Kyverna Therapeutics does not have product revenue from commercialized therapies (null). Its cash inflows have primarily come from financing activities typical of clinical-stage biotech companies, including proceeds from equity financings such as ...
Kyverna Therapeutics, Inc. Earnings Call Summary
Earnings Call Date:Nov 13, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The earnings call revealed significant advancements in Chimera's immunology pipeline, particularly with the initiation of KT61 and advancement of KT474. However, the deprioritization of the oncology program and extended timelines for KT474 indicate strategic shifts that could pose challenges. The financial stability and focus on promising immunology assets contribute to an overall positive outlook.Positive Updates
Phase One Study of KT61 Initiated
Chimera Therapeutics has started the phase one study of KT61, a first-in-class oral STAT6 degrader. This marks the first STAT6 medicine to enter clinical development, with potential to transform treatment paradigms for diseases like atopic dermatitis, asthma, and COPD.
Negative Updates
Oncology Program Deprioritized
Chimera has decided to advance only KT333 and KT253 beyond phase one with a partner, reallocating resources towards the immunology pipeline.
Read all updates
Q3-2024 Updates
Positive
Negative
Phase One Study of KT61 Initiated
Chimera Therapeutics has started the phase one study of KT61, a first-in-class oral STAT6 degrader. This marks the first STAT6 medicine to enter clinical development, with potential to transform treatment paradigms for diseases like atopic dermatitis, asthma, and COPD.
Read all positive updates
Company Guidance
During the Chimera Therapeutics Q3 2024 earnings call, significant guidance was provided, highlighting several key metrics and strategic directions. The company has initiated a Phase 1 study of KT61, an oral STAT6 degrader, with expectations to complete the Healthy Volunteer Study in the first half of 2025. The program aims to address diseases with TH2 inflammation, affecting over 150 million patients across the US, Europe, and Japan. Additionally, Chimera has advanced its KT474 program, transitioning it to expanded Phase 2B studies, supported by partner Sanofi, and is preparing KT295, a new lead candidate in their TIC2 program, for Phase 1 trials in 2025. Financially, Chimera raised approximately $600 million in 2024, boasting a cash runway into mid-2027, and reported $3.7 million in revenue for the quarter, attributed to their Sanofi collaboration. The company is strategically reallocating resources to prioritize their growing immunology pipeline, with plans to share further guidance on clinical developments next year.Kyverna Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 7.03M | 5.66M |
| Gross Profit | -351.00K | 0.00 | -2.13M | -1.71M | 7.03M | 5.66M |
| EBITDA | -149.28M | -159.02M | -125.20M | -58.47M | -27.78M | -25.76M |
| Net Income | -152.64M | -161.31M | -127.48M | -60.37M | -28.89M | -26.35M |
Balance Sheet | ||||||
| Total Assets | 219.82M | 293.83M | 304.64M | 75.19M | 66.92M | 85.49M |
| Cash, Cash Equivalents and Short-Term Investments | 199.43M | 279.25M | 285.98M | 57.54M | 51.32M | 76.07M |
| Total Debt | 33.00M | 29.03M | 8.24M | 9.08M | 10.56M | 5.55M |
| Total Liabilities | 54.27M | 61.55M | 38.06M | 26.02M | 140.92M | 131.74M |
| Stockholders Equity | 165.55M | 232.28M | 266.59M | 49.18M | -74.00M | -46.25M |
Cash Flow | ||||||
| Free Cash Flow | -159.43M | -153.72M | -116.45M | -53.03M | -36.88M | -23.44M |
| Operating Cash Flow | -158.75M | -153.71M | -114.25M | -52.41M | -36.11M | -22.16M |
| Investing Cash Flow | -8.80M | 40.02M | -160.90M | -8.79M | -14.10M | -1.29M |
| Financing Cash Flow | 145.92M | 141.17M | 337.11M | 58.12M | 11.88M | 72.52M |
Kyverna Therapeutics, Inc. Technical Analysis
Negative
8.64
Price Trends
7.71
Negative
8.07
Negative
8.36
Negative
Market Momentum
-0.38
Positive
29.58
Positive
5.80
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KYTX, the sentiment is Negative. The current price of 8.64 is above the 20-day moving average (MA) of 7.14, above the 50-day MA of 7.71, and above the 200-day MA of 8.36, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 29.58 is Positive, neither overbought nor oversold. The STOCH value of 5.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KYTX.
Kyverna Therapeutics, Inc. Risk Analysis
Kyverna Therapeutics, Inc. disclosed 86 risk factors in its most recent earnings report. Kyverna Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kyverna Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $409.04M | -2.47 | -64.25% | ― | ― | -29.71% | |
55 Neutral | $665.67M | -2.79 | -106.94% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $221.16M | -1.36 | -57.61% | ― | -94.10% | -122.58% | |
47 Neutral | $403.22M | -2.12 | -81.91% | ― | ― | 20.07% | |
47 Neutral | $148.93M | -4.05 | -74.36% | ― | 35.89% | 58.70% | |
42 Neutral | $67.57M | -1.86 | -300.90% | ― | 0.99% | -3014.75% |
* Healthcare Sector Average
KYTX
Kyverna Therapeutics, Inc.
6.22
0.70
12.68%
CDXS
Codexis
1.36
-1.18
-46.46%
HRTX
Heron Therapeutics
0.35
-0.97
-73.71%
SLN
Silence Therapeutics
10.64
5.64
112.80%
AVIR
Atea Pharmaceuticals
5.13
2.23
76.90%
TRDA
Entrada Therapeutics Inc
5.38
-0.62
-10.33%
Kyverna Therapeutics, Inc. Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Kyverna Reports Positive One-Year Data for Miv-Cel
Positive
Sep 24, 2026
On September 24, 2026, Kyverna Therapeutics reported positive one-year topline data from its KYSA-8 registrational trial of miv-cel in stiff person syndrome, showing sustained improvements in mobility, disability, and stiffness, with 92% of patien...
Business Operations and Strategy
Kyverna secures long-term miv-cel manufacturing partnership
Positive
Jul 27, 2026
On July 23, 2026, Kyverna Therapeutics entered into a five-year clinical and commercial supply agreement with ElevateBio that replaces a 2023 development and manufacturing pact for miv-cel. ElevateBio will provide flexible, scalable manufacturing ...
Business Operations and StrategyPrivate Placements and Financing
Kyverna Therapeutics Amends Term Loan, Extends Capital Access
Positive
Jul 9, 2026
Kyverna Therapeutics amended its existing $150 million term loan facility with Oxford Finance, originally agreed on October 31, 2025, after drawing $25 million from the initial Term A tranche on November 3, 2025. On July 8, 2026, effective June 30...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.