KYTX INVESTOR ALERT: Kirby McInerney LLP Reminds Kyverna Therapeutics, Inc. Investors of Looming Lead Plaintiff Deadline in Class Action Lawsuit

Core Viewpoint - Kyverna Therapeutics, Inc. is facing a federal securities class action due to alleged misstatements and omissions regarding its clinical trial data during its IPO, leading to significant share price decline [1][4][5]. Company Overview - Kyverna's lead product candidate is KYV-101, which is under clinical development for lupus erythematosus, a kidney disease associated with lupus [3]. - The company initiated two clinical trials, KYSA-1 and KYSA-3, to evaluate various aspects of KYV-101, including adverse events and efficacy [3]. IPO Details - Kyverna conducted its IPO on February 8, 2024, offering 14.5 million shares at $22 per share, aiming for proceeds exceeding $296 million [4]. - Initial results from the trials indicated improvement in urine protein creatinine ratio, a key indicator for lupus, but these results were later revealed to be misleading due to undisclosed adverse data [4][5]. Legal Action - A class action lawsuit has been filed on behalf of investors who acquired Kyverna securities between February 4, 2024, and December 9, 2024, with a deadline of February 7, 2025, to seek lead plaintiff status [1]. - The complaint alleges that the IPO registration statement and prospectus contained materially inaccurate information, leading to inflated share prices at the time of purchase [5]. Share Price Impact - Following the emergence of true trial data, Kyverna's shares plummeted to as low as $3.92 by December 9, 2024, representing a decline of over 82% from the IPO offering price [4].