Kyverna Therapeutics Inc. Common Stock (NASDAQ: KYTX)
11 Days left to seek lead plaintiff status.
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.
The 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.