In a report released on August 28, Thomas Smith from Leerink Partners reiterated a Buy rating on Kyverna Therapeutics, Inc., with a price target of $25.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Thomas Smith’s rating is based on several positive developments surrounding Kyverna Therapeutics, Inc.’s KYV-101 program. The company recently hosted a virtual event where they shared promising updates about their Phase 3 trial design for KYV-101 in treating myasthenia gravis (MG), as well as long-term data from compassionate-use programs in MG and stiff person syndrome (SPS). These updates showed encouraging results, including drug-free and disease-free remission in patients treated with KYV-101.
Furthermore, Kyverna Therapeutics has reached an agreement with the FDA to advance their Phase 2 trial into a registrational Phase 2/3 program, with plans to begin pivotal patient enrollment by the end of 2025. The company also presented impressive long-term follow-up data from initial MG patients, demonstrating sustained clinical benefits. Additionally, the development in SPS showed significant improvements in patient mobility and reduced autoantibody levels. These factors collectively highlight the potential of KYV-101 to address unmet medical needs, supporting Thomas Smith’s Buy rating.
In another report released on August 29, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 price target.