Business
Kyverna Therapeutics Provides Business Update and Reports Full Year 2023 Financial Results
Advanced clinical development in two broad areas of autoimmune disease: rheumatology and neurologyStrong balance sheet, bolstered by recent public offering,
About this update from Kyverna Therapeutics, Inc.
[{"type":"text","content":"Advanced clinical development in two broad areas of autoimmune disease: rheumatology and neurologyStrong balance sheet, bolstered by recent public offering, expected to fund operations into 2026EMERYVILLE, Calif., March 26, 2024 /PRNewswire/ -- Kyverna Therapeutics, Inc. (Nasdaq: KYTX), a patient-centered, clinical-stage biopharmaceutical company focused on developing cell therapies for patients suffering from autoimmune diseases, today reported its business highlights and financial results for the full year ended December 31, 2023.\n\n \n \n \n \n \n \n\n \n\"2023 was a momentous year for Kyverna as we brought KYV-101 into the clinic in both the US and Europe,\" said Peter Maag, Chief Executive Officer of Kyverna. \"We are excited to build on our leadership position in 2024 and continue to execute diligently on our promise to bring hope to patients living with autoimmune disorders.\" \nFull Year 2023 and Recent Business Highlights\nAdvanced clinical development of KYV-101, our proprietary CD19 chimeric antigen receptor (CAR) T-cell therapy for autoimmunity, in clinical trials and investigator-initiated trials across the US and EuropeTreated 14 autoimmune patients cumulatively with KYV-101 as of December 31, 2023, including two patients with multiple sclerosis, three patients with lupus nephritis, and six patients with myasthenia gravisReceived FDA clearance to initiate Phase 2 trials for KYV-101 in multiple sclerosis and myasthenia gravis, as well as a Phase 1/2 trial in systemic sclerosisInitiated enrollment and dosed patients in our two clinical trials for KYV-101 in lupus nephritis: a Phase 1/2 trial in Germany and a Phase 1 trial in the USReceived FDA Fast Track Designations for KYV-101 for the treatment of patients with refractory myasthenia gravis, for the treatment of patients with refractory progressive multiple sclerosis, and for the treatment of patients with lupus nephritisPartnered with ElevateBio's BaseCamp to advance Kyverna's Ingenui-T manufacturing processStrengthened balance sheet with approximately $366.9 million in gross proceeds from our initial public offering in February 2024Upcoming Milestones\nInterim patient data releases and symposia at EULAR in second quarter of 2024, ECTRIMS in third quarter of 2024 and ACR in fourth quarter of 2024Regulatory progress in rheumatology and neurology in the US and Europ...