Kyverna prices 13.3M shares at $7.50 in underwritten public offering

Kyverna Therapeutics (KYTX) announced the pricing of an underwritten public offering of 13,333,333 shares of its common stock at a public offering price of $7.50 per share. The gross proceeds to Kyverna from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Kyverna, are expected to be approximately $100M. All shares in the offering are being sold by Kyverna. The offering is expected to close on or about December 18, subject to the satisfaction of customary closing conditions. In addition, Kyverna has granted the underwriters a 30-day option to purchase up to 1,999,999 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. J.P. Morgan, Leerink Partners, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers for the offering.