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Kyverna Therapeutics, Inc. (KYTX)
NASDAQ:KYTX
RESEARCH TOOLSreports
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Kyverna Therapeutics, Inc.
(NASDAQ:KYTX)
36Underperform
Positive Factors
Clinical Trial Progress
KYTX has received FDA confirmation that the design of the ongoing Phase 2 KYSA-8 study of KYV-101 in stiff-person syndrome is valid for registration.
Corporate Strategy
Kyverna Therapeutics has a clear strategy focusing on stiff person syndrome, myasthenia gravis, and lupus nephritis, which outlines a defined path to market for KYV-101.
Financial Stability
Kyverna ended the fourth quarter of 2024 with $286 million in cash, which is expected to fund operations into 2027, providing financial stability.
Negative Factors
Financial Performance
Kyverna reported a net loss of $0.87 per share, vs. a prior estimate of a net loss of $0.70 per share.
Operating Expenses
Research and development, as well as sales, general, and administrative expenses, exceeded prior estimates.
Regulatory Risks
The broader development-stage biotech landscape has seen heightened regulatory risks stemming from the recent FDA shakeup.
Kyverna Therapeutics, Inc. (KYTX) vs. S&P 500 (SPY)
Market Cap
$88.60M
Dividend YieldN/A
Average Volume (3M)283.30K
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees112
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.46
Shares Outstanding43,218,872
10 Day Avg. Volume215,489
30 Day Avg. Volume283,301
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap-1.31
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.25Price Target Upside647.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Kyverna Therapeutics, Inc. Business Overview & Revenue Model
Company DescriptionKyverna Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial. The company is also developing KYV-201, an allogeneic CD19 CAR T-cell product candidate that is in preclinical stage to treat multiple autoimmune diseases. In addition, it is developing product candidates to treat other autoimmune diseases, such as inflammatory bowel disease that includes Crohn's disease and ulcerative colitis. Kyverna Therapeutics, Inc. has a license and collaboration agreement with Intellia Therapeutics, Inc. to research and develop an allogeneic CD19-directed CAR cell therapy product; and with Kite to research and develop programs for the treatment, diagnosis, and prevention of autoimmune, inflammatory, and allogeneic stem cell transplant inflammatory diseases. The company was formerly known as BAIT Therapeutics, Inc. and changed its name to Kyverna Therapeutics, Inc. in October 2019. Kyverna Therapeutics, Inc. was incorporated in 2018 and is headquartered in Emeryville, California.
How the Company Makes MoneyKyverna Therapeutics makes money primarily through the development and commercialization of its cell therapy products. The company may generate revenue through partnerships and collaborations with other biotech and pharmaceutical companies, which can include upfront payments, milestone payments, and royalties on sales of co-developed therapies. Additionally, Kyverna might engage in licensing agreements for its proprietary technologies, further contributing to its revenue streams. As a biotechnology firm, Kyverna may also secure funding from investors and grants to support its research and development efforts.
Kyverna Therapeutics, Inc. Financial Statement Overview
Summary
Kyverna Therapeutics, Inc. faces significant financial challenges, with zero revenue and consistent losses. The balance sheet is strong in equity but suffers from negative profitability. Cash flows are negative, though recent financing provides some liquidity.Income Statement
Kyverna Therapeutics, Inc. shows significant challenges in generating revenue with total revenue at zero for the latest period. Net profit margins are negative, reflecting continuous losses over the years. EBIT and EBITDA margins are also negative, indicating operational inefficiencies. The revenue growth rate cannot be calculated due to zero revenue, highlighting the company's struggle in revenue generation.15
Very Negative
Balance Sheet
The company has a strong equity base with a low debt-to-equity ratio due to significant stockholders' equity. However, the equity ratio is high, and the company is not highly leveraged, which is a positive sign. Return on equity is negative, reflecting the ongoing losses impacting shareholder returns. Overall, while the company maintains a relatively stable balance sheet, the profitability aspect is weak.40
Negative
Cash Flow
Free cash flow is negative, indicating that the company is not generating enough cash to cover its capital expenditures. Operating cash flow is also negative, underscoring operational challenges. However, the company has managed significant financing cash inflows, which may provide some liquidity buffer. The ratio of operating cash flow to net income and free cash flow to net income is not favorable, showing cash flow difficulties.30
Negative
| Breakdown | |||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|
| Income Statement | Total Revenue | ||
| 0.00 | 0.00 | 7.03M | 5.66M | Gross Profit |
| 0.00 | -1.71M | 5.97M | 5.07M | EBIT |
| -142.60M | -62.41M | -29.38M | -26.35M | EBITDA |
| -142.60M | -58.47M | -27.78M | -25.76M | Net Income Common Stockholders |
| -127.48M | -60.37M | -28.89M | -26.35M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||
| 285.98M | 57.54M | 51.32M | 76.07M | Total Assets |
| 304.64M | 75.19M | 66.92M | 85.49M | Total Debt |
| 8.24M | 9.08M | 10.56M | 5.55M | Net Debt |
| -88.38M | -25.57M | -27.17M | -70.51M | Total Liabilities |
| 38.06M | 26.02M | 140.92M | 131.74M | Stockholders Equity |
| 266.59M | 49.18M | -74.00M | -46.25M |
| Cash Flow | Free Cash Flow | ||
| -116.45M | -53.03M | -36.88M | -23.44M | Operating Cash Flow |
| -114.25M | -52.41M | -36.11M | -22.16M | Investing Cash Flow |
| -160.90M | -8.79M | -14.10M | -1.29M | Financing Cash Flow |
| 337.11M | 58.12M | 11.88M | 72.52M |
Kyverna Therapeutics, Inc. Technical Analysis
Neutral
2.04
Price Trends
2.33
Negative
3.00
Negative
4.73
Negative
Market Momentum
-0.05
Negative
56.28
Neutral
70.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KYTX, the sentiment is Neutral. The current price of 2.04 is above the 20-day moving average (MA) of 2.03, below the 50-day MA of 2.33, and below the 200-day MA of 4.73, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 56.28 is Neutral, neither overbought nor oversold. The STOCH value of 70.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KYTX.
Kyverna Therapeutics, Inc. Risk Analysis
Kyverna Therapeutics, Inc. disclosed 83 risk factors in its most recent earnings report. Kyverna Therapeutics, Inc. reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kyverna Therapeutics, Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $4.20B | -0.66 | -13.70% | 5.19% | 17.18% | -44.51% | |
44 Neutral | $89.09M | ― | 149.62% | ― | -31.04% | 11.34% | |
42 Neutral | $101.97M | ― | -42.83% | ― | ― | 48.92% | |
41 Neutral | $115.03M | ― | -45.58% | ― | 71.44% | 43.22% | |
40 Underperform | $82.99M | ― | -46.26% | ― | ― | -61.95% | |
36 Underperform | $88.60M | ― | -80.74% | ― | ― | ― | |
33 Underperform | $87.11M | ― | -94.52% | ― | ― | 2.98% |
* General Sector Average
Performance Comparison
KYTX
Kyverna Therapeutics, Inc.
2.31
-14.30
-86.09%
ZNTL
Zentalis Pharmaceuticals
1.37
-9.94
-87.89%
CCCC
C4 Therapeutics
1.64
-4.90
-74.92%
ELUT
Aziyo Biologics
2.31
-0.54
-18.95%
VOR
Vor Biopharma
0.68
-1.09
-61.58%
CLYM
Climb Bio
1.26
-6.31
-83.36%
Kyverna Therapeutics, Inc. Earnings Call Summary
Earnings Call Date:Mar 27, 2025
(Q3-2024)
| % Change Since: -13.56%|
Next Earnings Date:May 20, 2025
Earnings Call Sentiment Positive
The earnings call revealed significant advancements in Chimera's immunology pipeline, particularly with the initiation of KT61 and advancement of KT474. However, the deprioritization of the oncology program and extended timelines for KT474 indicate strategic shifts that could pose challenges. The financial stability and focus on promising immunology assets contribute to an overall positive outlook.Q3-2024 Updates
Positive Updates
Phase One Study of KT61 Initiated
Chimera Therapeutics has started the phase one study of KT61, a first-in-class oral STAT6 degrader. This marks the first STAT6 medicine to enter clinical development, with potential to transform treatment paradigms for diseases like atopic dermatitis, asthma, and COPD.
KT474 Program Advances to Phase Two B
The KT474, an IRAK4 degrader, is transitioning to fully powered phase two B studies with partner Sanofi, aiming for a faster path to phase three registration.
Introduction of KT295 as Lead Candidate
KT295, a new TIC2 clinical candidate, has shown greater in vivo activity compared to KT294, with potential to match human TIC2 loss-of-function mutations.
Strong Financial Position
Chimera Therapeutics raised approximately $600 million in 2024, providing a cash runway into mid-2027, supporting their expanding pipeline.
Negative Updates
Oncology Program Deprioritized
Chimera has decided to advance only KT333 and KT253 beyond phase one with a partner, reallocating resources towards the immunology pipeline.
Extended Timeline for KT474 Phase Two Trials
Due to expanded studies, the KT474 program's completion dates have moved to the first half of 2026 and mid-2026, delaying Phase 2 data readout.
Company Guidance
During the Chimera Therapeutics Q3 2024 earnings call, significant guidance was provided, highlighting several key metrics and strategic directions. The company has initiated a Phase 1 study of KT61, an oral STAT6 degrader, with expectations to complete the Healthy Volunteer Study in the first half of 2025. The program aims to address diseases with TH2 inflammation, affecting over 150 million patients across the US, Europe, and Japan. Additionally, Chimera has advanced its KT474 program, transitioning it to expanded Phase 2B studies, supported by partner Sanofi, and is preparing KT295, a new lead candidate in their TIC2 program, for Phase 1 trials in 2025. Financially, Chimera raised approximately $600 million in 2024, boasting a cash runway into mid-2027, and reported $3.7 million in revenue for the quarter, attributed to their Sanofi collaboration. The company is strategically reallocating resources to prioritize their growing immunology pipeline, with plans to share further guidance on clinical developments next year.Kyverna Therapeutics, Inc. Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
Kyverna Therapeutics Sets 2025 Strategic Priorities for Growth
Positive
Jan 13, 2025
Kyverna Therapeutics announces its strategic priorities for 2025, highlighting its focus on advancing the KYV-101 CD19 CAR T-cell therapy through late-stage development and commercialization for autoimmune diseases. The company aims to achieve a first-to-market position with KYV-101 for stiff person syndrome, with a BLA filing targeted for 2026, while also expanding its pipeline with KYV-102 to enhance CAR T accessibility. The company is focusing on capital-efficient growth and has a cash runway into 2027 to support its strategic goals.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.