Core Viewpoint - The Kyverna class action lawsuit alleges that the company's IPO offering documents were materially false and misleading, failing to disclose adverse data related to clinical trials, which negatively impacted the company's future operating results and share price [2][8]. Group 1: Lawsuit Details - The lawsuit, titled Rondini v. Kyverna Therapeutics, Inc., charges Kyverna and certain executives and underwriters with violations of the Securities Act of 1933 [6]. - Investors who purchased or acquired Kyverna common stock during the IPO, which took place on February 8, 2024, have until February 7, 2025, to seek appointment as lead plaintiff [6]. - The IPO involved the offering of 14.5 million shares at a price of 296 million for Kyverna [7]. Group 2: Impact of Adverse Data - On June 14, 2024, Kyverna disclosed adverse data regarding one of its clinical trials, leading to a significant decline in share price [8]. - By the time the class action lawsuit commenced, Kyverna's stock had fallen to as low as $3.92, representing a decline of over 82% from the IPO price [8].
KYTX INVESTOR NOTICE: Kyverna Therapeutics, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit