Kyverna surges after IPO, and CEO lays out plans for cell therapy in immune diseases
Kyverna Therapeutics started its first day as a public biotech on a strong note, with its shares $KYTX rising more than 50% Thursday afternoon after pricing at $22 and raising $319 million for the company.
But don’t call the Nasdaq IPO an overnight success. It took five years to get to this point and a “Kyverna village,” CEO Peter Maag said in an interview with Endpoints News shortly after the shares commenced trading. The Gilead-backed California biotech had raised about $170 million on the private side, including a Series B extension last August.
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