Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Kyverna Therapeutics, Inc. (KYTX)

Published 9 days ago via Business Wire

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming February 7, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NASDAQ: KYTX) common stock pursuant and/or traceable to the Registration Statement issued in connection with the Company’s February 2024 initial public offering (the “IPO” or the “Offering”).

If you suffered a loss on your Kyverna investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Kyverna-Therapeutics-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On or about February 8, 2024, Kyverna conducted its IPO selling 14.5 million shares of common stock for $22.00 per share.

On June 14, 2024, Kyverna provided an update on its lupus nephritis drug, KYV-101, and published an investor presentation disclosing adverse data regarding one of its clinical trials, despite having previously touted patient improvement.

Investors have suffered significant losses since the IPO. At the time of filing, Kyverna’s stock price traded as low as $3.92 per share, more than 82% the IPO price.

The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) adverse data it possessed related to one of its trials; (2) the risk posed by the Company’s withholding of adverse data regarding one of its clinical trials; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Kyverna common stock pursuant and/or traceable to the IPO, you may move the Court no later than February 7, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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