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Kyverna Therapeutics, Inc. has registered a shelf offering to sell up to $300,000,000 of securities from time to time and included a sales agreement prospectus for up to $100,000,000 of common stock to be sold under an Open Market Sale Agreement with Jefferies LLC.
The base prospectus covers a range of instruments including common stock, preferred stock, debt securities, warrants, rights, units and depositary shares, with specific terms to be provided in prospectus supplements. The company’s common stock trades on Nasdaq under the symbol KYTX; the last reported sale price cited here was $7.87 per share as of March 25, 2026.
Kyverna Therapeutics, Inc. presents an annual overview as a late-stage clinical biopharmaceutical company developing CD19-directed cell therapies for autoimmune diseases. Its lead autologous CAR T candidate, mivocabtagene autoleucel (miv-cel / KYV-101), targets B cells to reset the immune system and aims for durable, treatment-free remission.
The company has completed a registrational Phase 2 SPS trial (KYSA-8) with a highly significant improvement in walking ability, plans a BLA filing in the first half of 2026, and has RMAT and orphan designations in SPS and MG. In generalized myasthenia gravis, positive Phase 2 data support an ongoing Phase 3 KYSA-6 trial against standard of care.
Additional programs explore miv-cel in multiple sclerosis, rheumatoid arthritis, lupus nephritis and systemic sclerosis through company and investigator-initiated studies. A next-wave autologous product, KYV-102, uses a rapid whole-blood manufacturing process, and KYV-201 is an allogeneic CD19 CAR T developed with Intellia. Kyverna states that its cash, cash equivalents and marketable securities are expected to provide runway into 2028, funding the planned SPS BLA submission, SPS commercial launch preparation and the Phase 3 gMG trial.
Kyverna Therapeutics reported its fourth quarter and full year 2025 results while highlighting major progress for its lead autoimmune CAR T therapy, miv-cel. The company is preparing a Biologics License Application for stiff person syndrome in the first half of 2026 and aims to be launch-ready by year-end 2026.
Kyverna is also advancing an FDA-aligned Phase 3 trial in generalized myasthenia gravis and reported encouraging data from investigator-initiated studies in progressive multiple sclerosis and rheumatoid arthritis. The company strengthened its balance sheet through $147.5 million in financings and ended 2025 with $279 million in cash, expecting runway into 2028 despite a 2025 net loss of $161.3 million.
Kyverna Therapeutics, Inc. reported that its Chief Financial Officer, Marc Grasso, received new equity awards as part of his compensation. He was granted a stock option for 65,000 shares of common stock at an exercise price of $8.95 per share, expiring on March 13, 2036. He also received 10,000 shares of common stock in the form of a restricted stock unit award.
According to the vesting terms, one quarter of the restricted stock units will vest on March 13, 2027, with the remaining three quarters vesting in equal annual installments on each one-year anniversary thereafter, subject to his continued service. For the stock option, one quarter of the shares will vest on March 13, 2027, and the remaining shares will vest in equal monthly installments (1/48th each month) thereafter, also contingent on continued service to the company.
Kyverna Therapeutics’ Chief Executive Officer Biddle Warner Weston received new equity awards as part of his compensation. He was granted stock options for 350,000 shares of common stock at an exercise price of $8.95 per share, expiring on March 13, 2036. One quarter of these options vest on March 13, 2027, with the remaining shares vesting in equal monthly installments of 1/48 each month thereafter, contingent on his continuous service.
He also received a restricted stock unit award covering 58,000 shares of common stock. One quarter of this RSU grant vests on March 13, 2027, and an additional one quarter vests on each one-year anniversary after that date, also subject to continued service. Following these awards, his reported holdings include 58,000 shares of common stock and 350,000 options, reflecting compensation-related acquisitions rather than open-market purchases.
Kyverna Therapeutics, Inc. reported that officer Naji Gehchan received new equity awards as part of compensation. He was granted stock options for 105,000 shares of common stock at an exercise price of $8.95 per share, expiring on March 13, 2036. These options vest over time, with one-fourth vesting on March 13, 2027 and the remaining shares vesting in equal monthly installments thereafter, subject to continued service. He also received a restricted stock unit award covering 18,000 shares of common stock, with one-fourth vesting on March 13, 2027 and the rest vesting in equal annual installments, also subject to continued service.
Kyverna Therapeutics, Inc. filed an initial Form 3 for director Andrew Craig Miller. This filing identifies him as a board member of Kyverna Therapeutics (ticker KYTX) and establishes his status as an insider subject to ongoing ownership reporting requirements.
Miller Andrew Craig reported acquisition or exercise transactions in this Form 4 filing.
Kyverna Therapeutics director Andrew Craig Miller reported equity awards consisting of a stock option for 42,945 shares and a restricted stock unit grant for 11,006 shares of common stock. The RSUs vest in three equal annual installments, while the option vests monthly over 36 months, in each case subject to continued service.
Kyverna Therapeutics director Emany Sravan Kumar received new equity awards. On February 24, 2026, Kumar was granted a stock option for 42,945 shares at an exercise price of $0.00 per share and 11,006 shares of common stock as a restricted stock unit award.
The restricted stock units are scheduled to vest in three equal annual installments on each one-year anniversary of the grant date, subject to continued service. The stock option is scheduled to vest in 36 equal monthly installments starting from the grant date, also conditioned on continued service to the company.