KYTX Stock — Kyverna Therapeutics Inc.: Cash, EV, Pipeline

Share price

$7.13

Market cap

$440.9M

Cash

$199.4M

Enterprise value

$266.4M

Balance sheet

Cash	$199.4M
Debt	$24.9M
Net cash	$174.5M
Enterprise value	$266.4M
Basic shares	61.6M shares
Fully diluted shares	78.7M shares
Fully diluted market cap	$560.9M
Cash per share	$3.24

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
May 13 - Jun 24	KYV-101	Phase 2	Multiple Sclerosis, Primary Progressive; Multiple Sclerosis, Secondary Progressive; Multiple Sclerosis	—
Oct 13 - Nov 24	Standard lymphodepletion regimen	Phase 2/3	Myasthenia Gravis; Generalized Myasthenia Gravis	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Mivocabtagene autoleucel

Phase 3 · Active Modality: CAR T-cell therapy (fully human anti-CD19 autologous)

Aliases KYV-101, miv-cel

Target CD19

Partnerships NIH: exclusive worldwide license to anti-CD19 CAR patents for autoimmune disease (May 2021); Intellia: CRISPR patent license agreement covering CRISPR Product (co-co agreement)

Indications

Stiff person syndrome (SPS) (Phase 2)
Generalized myasthenia gravis (gMG) (Phase 3)
Progressive multiple sclerosis (PMS) (Phase 1)
Rheumatoid arthritis (RA) (Phase 1/2)
Lupus nephritis (LN) (Stage not disclosed)
Systemic sclerosis (SSc) (Stage not disclosed)

Catalysts

— Q3 2026
— Q4 2026
— Q3 2026
— mid-2027
— early 2027

Status note Lead program. SPS: registrational 26-patient Phase 2 KYSA-8 completed (positive primary analysis, AAN April 2026); pre-BLA meeting held Q2 2026 with FDA alignment on regulatory path; rolling BLA initiated (CMC module submitted July 2026, priority review sought under RMAT). gMG: KYSA-6 Phase 2 positive (Oct 2025 interim, AAN April 2026 longer-term follow-up); Phase 3 registrational trial advancing. RMAT and Orphan Drug designations for SPS and MG; EMA Orphan designation for MG.

KYV-102

Stage not disclosed · Active Modality: whole blood rapid manufacturing process (Ingenui-T)

Target n/a

Status note IND accepted by FDA in January 2026.

KYV-201

Stage not disclosed · Active

Target CD19

Status note Named among other programs; no candidate details disclosed in excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Standard lymphodepletion regimen
Lead indication	Myasthenia Gravis
Lead phase	Phase 2/3
Active trials	3
Collaborator trials	5

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06193889	Phase 2/3	Recruiting	Sponsor	Kyverna Therapeutics	—	Myasthenia Gravis; Generalized Myasthenia Gravis	—
NCT06384976	Phase 2	Active, not recruiting	Sponsor	Kyverna Therapeutics	—	Multiple Sclerosis, Primary Progressive; Multiple Sclerosis, Secondary Progressive; Multiple Sclerosis	—
NCT07403188	Not disclosed	Recruiting	Sponsor	Kyverna Therapeutics	—	Refractory Lupus Nephritis; Myasthaenia Gravis; Stiff Person Syndrome	—
NCT06590545	Phase 1/2	Not yet recruiting	Collaborator	David Simon	—	ANCA-IgG-positive ANCA Associated Vasculitis	—
NCT06475495	Phase 1/2	Active, not recruiting	Collaborator	Charite University, Berlin, Germany	—	Rheumatoid Arthritis	—
NCT06152172	Phase 1	Active, not recruiting	Collaborator	David Porter	—	Idiopathic Inflammatory Myopathies; Diffuse Cutaneous Systemic Sclerosis; SLE Nephritis	—
NCT06138132	Phase 1	Recruiting	Collaborator	Stanford University	—	Multiple Sclerosis; Multiple Sclerosis, Primary Progressive; Multiple Sclerosis, Secondary Progressive	—
NCT06451159	Phase 1	Active, not recruiting	Collaborator	Bruce Cree	—	Progressive Multiple Sclerosis	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 5 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 8 active trials for Kyverna Therapeutics on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	0	-22,428	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

KYTX — Kyverna Therapeutics Inc.