Kyverna shares remain ‘significantly under-valued,’ says JPMorgan

JPMorgan believes Kyverna Therapeutics (KYTX)’ KYV-101 stands out as a competitive treatment option for stiff person syndrome with the potential to reverse the disease course. The firm also sees a significantly faster path to the commercial market compared to other target indications. Early data showcased KYV-101’s promise in addressing SPS and without any effective options, Kyverna “could carve an expedited course to the finish line,” the analyst tells investors in a research note. At a negative enterprise value, JPMorgan believes Kyverna “remains significantly under-valued.” It reiterates an Overweight rating on the shares.