Kyverna Therapeutics, Inc. · NASDAQ:KYTX
Kyverna Therapeutics — AAN 2026 Annual Meeting
38 slides from Kyverna Therapeutics's conference presentation, Apr 22, 2026
Slide 1: Highlighting New Data from Our Neuroimmunology Franchise at AAN
Highlighting New Data from Our Neuroimmunology Franchise at AAN April 22, 2026 ©2026 Kyverna Therapeutics, Inc.
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements This presentation contains forward-looking statements that are based on management’s beliefs and assumptions and information currently available to management of Kyverna Therapeutics, Inc. (“Kyverna”, “we”, “our,” or the “Company”). All statements other than
Slide 3: Today's Agenda
Today’s Agenda Solidifying our Leadership in Speakers Autoimmune CAR T Stiff Person Syndrome (SPS) – Primary Analysis Review Warner Biddle Naji Gehchan, M.D., MSc, MBA Chief Executive Officer Chief Medical & Development Officer Generalized Myasthenia Gravis (gMG) – Phase 2 Data Update Advancing Valu
Slide 4: Positioned to Deliver the First Approved Autoimmune CAR T, Miv-cel
Positioned to Deliver the First Approved Autoimmune CAR T, Miv-cel Lead indications, SPS and gMG, addressing significant unmet medical need Transformative clinical results reinforce potential to change the treatment paradigm by delivering drug-free, disease-free remission with a single dose BLA subm
Slide 5: New Data Reinforce Kyverna's Differentiated Neuroimmunology Franchise Opportunity
New Data Reinforce Kyverna’s Differentiated Neuroimmunology Franchise Opportunity SPS Registrational Primary Analysis gMG Phase 2 Longer-Term Follow-Up Further supports path to approval & confidence in launch Further supports confidence in Phase 3 Trial ✓ Statistically significant, durable clinical
Slide 6: Miv-cel: Potential First-in-Class and Best-in-Class CAR T Designed for Potency & Tolerability
Miv-cel: Potential First-in-Class and Best-in-Class CAR T Designed for Potency & Tolerability Mivocabtagene Autoleucel (miv-cel)1,2 Fully Human Autologous CD19 CAR T • More than 100 patients dosed with With CD28 Costim miv-cel across multiple indications3 • Deep and broad depletion of peripheral- An
Slide 7: Patient Perspective from KYSA-8: Before and After Treatment with Miv-cel
Patient Perspective from KYSA-8: Before and After Treatment with Miv-cel View Video View Video 7
Slide 8: SPS – Primary Analysis Results from KYSA-8 Registrational Trial
SPS – Primary Analysis Results from KYSA-8 Registrational Trial Naji Gehchan, M.D., MSc, MBA – Chief Medical and Development Officer Amanda Piquet, M.D., FAAN – University of Colorado Anschutz, Céline Dion Foundation Endowed Chair ©2026 Kyverna Therapeutics, Inc.
Slide 9: SPS is a Debilitating, Progressive Autoimmune Disease with No FDA-Approved Therapies
SPS is a Debilitating, Progressive Autoimmune Disease with No FDA-Approved Therapies SPS impacts the inhibitory signaling Devastating Impact on Patients pathways, which are the body’s braking system and the target of 80% of patients lose mobility, needing autoantibodies produced by B walking aid ass
Slide 10: SPS Natural History Study Reinforces Significant Unmet Medical Need
SPS Natural History Study Reinforces Significant Unmet Medical Need Large, multicenter, retrospective study assessing T25FW in patients with SPS (n=153) Key Takeaways • Majority of patients had no or limited (<20%) improvement in T25FW • Disability (mRS) did not improve over time • Walking aid use i
Slide 11: Registrational Trial Designed to Support Path to BLA
Registrational Trial Designed to Support Path to BLA Received Both ODD and RMAT Designations KYSA-8: Open-label, single-arm, multicenter study N = 26 Primary endpoints: • Age 18 to 75 years Miv-cel • Change from baseline in T25FW at 16 weeks Low-Dose Cy/Flu • Safety • Diagnosis of SPS lymphodepletio
Slide 12: Primary Endpoint Outcome Assesses Impact of SPS on Walking Ability
Primary Endpoint Outcome Assesses Impact of SPS on Walking Ability Timed 25-Foot Walk (T25FW) 20% improvement • Validated tool to assess walking ability1 considered clinically • Used to evaluate stiffness and loss of mobility in SPS2 meaningful1 • Healthy adults can perform the T25FW in ~4-5 seconds
Slide 13: Secondary Endpoint Outcomes Assess Extent of Disability and SPS-Specific Symptoms
Secondary Endpoint Outcomes Assess Extent of Disability and SPS-Specific Symptoms Modified Rankin Degree of 0 1 2 3 4 5 6 Scale (mRS) disability1 No symptoms Nonsignificant Slight Moderate Moderately Severe Death Disability Disability Disability Severe Disability Disability Hauser Time and degree Am
Slide 14: Primary Endpoint Met: Significant Improvement in T25FW
Primary Endpoint Met: Significant Improvement in T25FW 46% Median Improvement at Week 16 Significant T25FW Improvement and Reduced Walking Aid Use • 81% of patients achieved clinically meaningful improvement (≥20% reduction from baseline)1 • 31% completed T25FW in <5 seconds; P = .0003 typical time
Slide 15: Secondary Endpoints Met: Significant Improvements in Disability, Mobility, Stiffness, Hypersensitivity
Secondary Endpoints Met: Miv-cel Achieved Significant (P < .0001) Improvements in Disability, Mobility, Stiffness, and Hypersensitivity Modified Rankin Scale Hauser Ambulation Index 0 1 2 3 4 5 6 0 1 2 3 4 5 6 7 8 9 • Significant (P < .0001) mean improvements in mRS and HAI of -0.8 (SD, 0.86) and -1
Slide 16: Additional Efficacy Measures: Substantial Improvements in Physical and Mental Functioning
Additional Efficacy Measures: Substantial Improvements in Physical and Mental Functioning 36-Item Short Form Health Survey (SF-36): 6-Minute Walk Test (MWT): >4-fold improvement Week 16 scores comparable to healthy adults over clinical minimally important change1 for most domains2,3 89-meter median
Slide 17: Robust Miv-cel Expansion Led to Complete Peripheral B-cell Depletion
Robust Miv-cel Expansion Led to Complete Peripheral B-cell Depletion and Significant Reductions in Autoantibody Titers Robust CAR T-cell Expansion Deep B-cell Depletion Reduced GAD65-IgG Median Median P < .0001 56% IQR IQR median GAD65-IgG by RIA, nmol/L 750 reduction 500 250 0 Baseline Week 16 n=20
Slide 18: Miv-cel Treatment Induced Markers of Broad Immune Reset
Miv-cel Treatment Induced Markers of Broad Immune Reset B-Cell Phenotypes Regulatory T Cells Regulatory T Cells Naïve Non-Class Switched Class Switched Memory Memory • Newly emerging B-cell population showed significantly increased • Significant increase in naïve phenotype with concomitant decrease
Slide 19: Miv-cel Demonstrated a Well-Tolerated Safety Profile
Miv-cel Demonstrated a Well-Tolerated Safety Profile Treatment-Related Adverse • No high-grade CRS or ICANS observed N=26 Events, n (%) • Most common treatment-related AEs were CRS (92%), fatigue (54%), diarrhea (38%), and CRS (any Grade) 24 (92) headache (31%) Grade 1 10 (38) • 4 patients had Grade
Slide 20: Potential to Achieve Durable, Drug-Free, Disease-Free Remission and Reverse Disability
Potential to Achieve Durable, Drug-Free, Disease-Free Remission and Reverse Disability In KYSA-8 trial, a single dose of miv-cel resulted in: Significant, robust, rapid improvements in mobility, disability, stiffness, and hypersensitivity 100% free of immunomodulatory or immunosuppressive therapies
Slide 21: gMG – Updated Data from Phase 2 KYSA-6 Trial
gMG – Updated Data from Phase 2 KYSA-6 Trial Naji Gehchan, M.D., MSc, MBA – Chief Medical and Development Officer Sri Muppidi, M.D. – Stanford University ©2026 Kyverna Therapeutics, Inc.
Slide 22: Patient Perspective from IH Pathway: Before and After Treatment with Miv-cel
Patient Perspective from IH Pathway: Before and After Treatment with Miv-cel View Video View Video 22
Slide 23: Despite Available Treatment Options, High Disease Burden Remains in Generalized Myasthenia Gravis
Despite Available Treatment Options, High Disease Burden Remains in Generalized Myasthenia Gravis Current State of Treatment • gMG is a B-cell and antibody-mediated for Patients With gMG neuromuscular autoimmune disease that causes fluctuating muscle weakness and Inadequate symptom control3,4 fatigu
Slide 24: KYSA-6: Phase 2/3 Study of Miv-cel in gMG
KYSA-6: Phase 2/3 Study of Miv-cel in gMG Phase 2 design: Open-label, single-arm, multicenter study N=7 • Age 18 to 75 years Miv-cel Primary endpoints • Diagnosis of gMG, Class IIB-IV per MGFA criteria • MG-ADL at 24 weeks Low-Dose Cy/Flu • Autoantibodies to AChR, lymphodepletion • Adverse events 18
Slide 25: Miv-cel Demonstrated Rapid and Robust Reductions in MG-ADL and QMG Sustained Out to 52 Weeks
Miv-cel Demonstrated Rapid and Robust Reductions in MG-ADL and QMG Sustained Out to 52 Weeks MG-ADL score QMG score Change from BL Change from BL Baseline Baseline Week 2 Week 24 Week 2 Week 24 Mean MG-ADL 10.6 –6.4 –8.5 Mean QMG 16.9 –8.6 –11.3 Data cutoff: February 25, 2026. 25 BL, baseline; MG-AD
Slide 26: After a Single Dose of Miv-cel, Patients Achieved Substantial Reductions in MG Outcome Scores
After a Single Dose of Miv-cel, Patients Achieved Substantial and Clinically Meaningful Reductions in MG Outcome Scores and Treatment Burden Substantially improved clinical outcomes MG-ADL QMG 100% had clinically meaningful response 100% had clinically meaningful response (≥2-point reduction vs base
Slide 27: Miv-cel Demonstrated a Well-Tolerated Safety Profile
Miv-cel Demonstrated a Well-Tolerated Safety Profile • No high-grade CRS and no ICANS observed Treatment-related AEs, n (%) Patients (n=7) CRS (any grade) 7 (100) • CRS was low-grade and manageable in all patients Grade 1 5 (71) − 5 of 7 patients only experienced fever (grade 1 CRS) Grade 2 2 (29) I
Slide 28: Robust CAR T-cell Expansion Led to Deep B-cell Depletion
Robust CAR T-cell Expansion Led to Deep B-cell Depletion Robust CAR T-cell expansion Deep B-cell depletion • B-cell recovery was detected in 2 patients at weeks 12 and 16, respectively Data cutoff: February 25, 2026. 28 BL, baseline.
Slide 29: Miv-cel Reduced Autoantibody Levels While Preserving Humoral Immune Responses
Miv-cel Reduced Autoantibody Levels While Preserving Humoral Immune Responses Reduction of autoantibodies Preservation of humoral immunity Autoantibody Ref Range BL Last visit (Wk) AChR, nmol/L Neg: ≤ 0.3 5.6 0.8 (Wk 52) 20 Autoantibodies Percent Change from Baseline, % AChR, nmol/L Neg: ≤ 0.3 71.5
Slide 30: Potential to Change the gMG Treatment Paradigm by Delivering Durable, Drug-Free, Disease-Free Remission
Potential to Change the gMG Treatment Paradigm by Delivering Durable, Drug-Free, Disease-Free Remission In KYSA-6 trial, a single dose of miv-cel resulted in: Robust, rapid, and sustained improvements regardless of prior biologic exposure 100% free of immunotherapies, including NSISTs, high-dose ste
Slide 31: Phase 3 Trial Advancing with First Patients Enrolled and 14 Sites Activated Globally
Phase 3 Trial Advancing with First Patients Enrolled and 14 Sites Activated Globally ~60-patient, global, open-label, randomized controlled Phase 2/3 trial with crossover design Co-Primary Endpoints (MG-ADL & QMG) Miv-cel Low-Dose Cy/Flu lymphodepletion + Screening, Single infusion of 1×108 CAR T ce
Slide 32: Single Dose Miv-cel Achieved Unprecedented gMG Clinical Outcomes
Single Dose Miv-cel Achieved Unprecedented gMG Clinical Outcomes All other therapies require chronic Approved Investigational* background immunotherapies FcRn Complement CD19 BCMA mRNA Miv-cel Inhibitor1 Inhibitor2,3 mAb4 CAR T5 CD19 CAR T VYVGART® ULTOMIRIS® UPLIZNA® Descartes-08 (KYSA-6, n=6) Prim
Slide 33: Advancing Valuable Market Opportunity in SPS
Advancing Valuable Market Opportunity in SPS Warner Biddle – Chief Executive Officer ©2026 Kyverna Therapeutics, Inc.
Slide 34: Miv-cel: Potential to Be First and Only Approved Therapy in SPS
Miv-cel: Potential to Be First and Only Approved Therapy in SPS with Patients Ready for an Effective Treatment Option Miv-cel Addressable Market2,3 ~6k Initial Total Miv-cel Priority Addressable Market U.S. Diagnosed SPS Patients1,2 ~2.0 to 2.5k Patients ~5.5k Patients 30-40% of total diagnosed 90%
Slide 35: SPS Treaters Show Strong Enthusiasm for Early Adoption of Miv-cel
SPS Treaters Show Strong Enthusiasm for Early Adoption of Miv-cel Survey of 20 high volume Product profile based on SPS treaters in U.S. miv-cel topline data 80% view efficacy data 90% view profile as 85% would use miv-cel and one-time treatment compelling versus current for moderate-to-severe as ke
Slide 36: Focused Launch Strategy Targets ~10 High-Value SPS Centers
Focused Launch Strategy Targets ~10 High-Value SPS Centers • Thought leaders / high-volume treaters SPS Leadership • Institutional support for miv-cel • Existing patients ready at center Addressable Patients • Strong referral network • Commercial CAR T experience CAR T Expertise • Accreditation • Ro
Slide 37: Kyverna: Delivering the Curative Potential of CAR T in Autoimmune Diseases
Kyverna: Delivering the Curative Potential of CAR T in Autoimmune Diseases CAR T Leadership Best-in-Class Profile Focused Strategy Potentially first approved Demonstrated durable drug- Neuroimmunology-led autoimmune CAR T free, disease-free remission franchise Valuable Commercial Pipeline-in-a-Produ
Slide 38: Q&A
Warner Biddle Naji Gehchan, M.D., MSc, MBA Marc Grasso, M.D. Chief Executive Officer Chief Medical Chief Financial Officer Q&A & Development Officer Amanda Piquet, M.D., FAAN Sri Muppidi M.D. University of Colorado Anschutz Stanford Medicine Céline Dion Foundation Endowed Chair ©2026 Kyverna Therape