Kyverna Therapeutics, Inc. (KYTX) AI Stock Analysis

• Market Cap: $101.67M
• Dividend Yield: N/A
• Average Volume (3M): 304.00K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.83
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 119
• Sector: General
• Sector Strength: N/A
• Industry: Biotechnology
• EPS (TTM): -3.07
• Shares Outstanding: 43,171,610
• 10 Day Avg. Volume: 312,104
• 30 Day Avg. Volume: 304,005
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -0.90
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $40.00
• Price Target Upside: 1594.92% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

Kyverna Therapeutics, Inc. faces considerable financial and operational challenges, reflected in its low financial performance score. Technical indicators show bearish trends, further impacting the stock's outlook. Although recent earnings call guidance and corporate events provide strategic growth opportunities, they are overshadowed by financial instability and leadership transitions. The overall score reflects these risks, alongside some potential for future improvement through strategic initiatives.

Positive Factors

Clinical Trials

The company anticipates completing enrollment in the ongoing, potentially pivotal KYSA-8 study of KYV-101 in SPS with topline data expected, indicating progress in their clinical trials.

Financial Stability

Cash on hand is expected to fund operations into 2027 with approximately $322 million as of September 30, 2024.

Safety and Efficacy

The company has observed no cases of severe cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome in over 50 patients dosed with KYV-101 to date.

Negative Factors

Financial Performance

Kyverna reported a net loss of $0.80 per share in 3Q24, which is higher than the prior estimate of a net loss of $0.68 per share.

Leadership Changes

James Chung, the company's CMO, will resign from his position to pursue other opportunities.

Research and Development Costs

R&D and SG&A expenses were higher than expected, with $29.2M and $9.6M, respectively, compared to estimates of $27.5M and $6.2M.

Kyverna Therapeutics, Inc. Business Overview & Revenue Model

Company Description

Kyverna Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial. The company is also developing KYV-201, an allogeneic CD19 CAR T-cell product candidate that is in preclinical stage to treat multiple autoimmune diseases. In addition, it is developing product candidates to treat other autoimmune diseases, such as inflammatory bowel disease that includes Crohn's disease and ulcerative colitis. Kyverna Therapeutics, Inc. has a license and collaboration agreement with Intellia Therapeutics, Inc. to research and develop an allogeneic CD19-directed CAR cell therapy product; and with Kite to research and develop programs for the treatment, diagnosis, and prevention of autoimmune, inflammatory, and allogeneic stem cell transplant inflammatory diseases. The company was formerly known as BAIT Therapeutics, Inc. and changed its name to Kyverna Therapeutics, Inc. in October 2019. Kyverna Therapeutics, Inc. was incorporated in 2018 and is headquartered in Emeryville, California.

How the Company Makes Money

Kyverna Therapeutics generates revenue primarily through the development and commercialization of its proprietary therapies for autoimmune diseases. The company engages in research and development activities to advance its therapeutic candidates through clinical trials, which can lead to licensing agreements and partnerships with larger pharmaceutical companies for further development and distribution. These collaborations often include milestone payments and royalties on sales. Additionally, Kyverna may secure funding through grants and equity investment to support its ongoing research initiatives and operational expenses.

Kyverna Therapeutics, Inc. Financial Statement Overview

Summary

Kyverna Therapeutics, Inc. faces significant financial challenges, with declining revenue and persistent losses impacting profitability and operational efficiency. The balance sheet shows some improvement in equity but remains burdened by a high equity ratio. Cash flows are strained, with operations heavily reliant on external financing to maintain liquidity. The company needs to address revenue generation and cost management to improve financial health.

Income Statement

Kyverna Therapeutics, Inc. has shown a significant decline in revenue, with zero revenue reported in the TTM (Trailing-Twelve-Months) period. The gross profit margin is negative, indicating costs exceed any revenue. Net income is consistently negative, reflecting ongoing losses. The EBIT and EBITDA margins are also negative, pointing to operational inefficiencies and high operating costs relative to revenue.

Balance Sheet

The company has improved its equity position, now positive compared to previous years. The debt-to-equity ratio is low, reflecting manageable debt levels relative to equity. However, the equity ratio remains high, suggesting limited liability coverage by equity. Overall, the balance sheet shows improved equity but still faces challenges in asset management.

Cash Flow

Operating cash flow is negative, indicating cash outflows exceed inflows from operations. Free cash flow is also negative, with no signs of growth. The strong financing cash flow suggests reliance on external funding to cover operational and investment needs. This raises concerns about sustainability and reliance on financing.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021
Income Statement		Total Revenue
0.00	0.00	7.03M	5.66M
	Gross Profit
-1.47M	-1.71M	5.97M	5.07M
	EBIT
-122.94M	-62.41M	-29.38M	-26.35M
	EBITDA
-108.46M	-58.47M	-27.78M	-25.76M
	Net Income Common Stockholders
-110.66M	-60.37M	-28.89M	-26.35M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
51.32M	57.54M	51.32M	76.07M
	Total Assets
66.92M	75.19M	66.92M	85.49M
	Total Debt
10.56M	9.08M	10.56M	5.55M
	Net Debt
-27.17M	-25.57M	-27.17M	-70.51M
	Total Liabilities
140.92M	26.02M	140.92M	131.74M
	Stockholders Equity
-74.00M	49.18M	-74.00M	-46.25M
Cash Flow		Free Cash Flow
-97.76M	-53.03M	-36.88M	-23.44M
	Operating Cash Flow
-95.75M	-52.41M	-36.11M	-22.16M
	Investing Cash Flow
-158.44M	-8.79M	-14.10M	-1.29M
	Financing Cash Flow
335.89M	58.12M	11.88M	72.52M

Kyverna Therapeutics, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KYTX, the sentiment is Negative. The current price of 2.36 is below the 20-day moving average (MA) of 2.50, below the 50-day MA of 2.88, and below the 200-day MA of 5.53, indicating a bearish trend. The MACD of -0.16 indicates Negative momentum. The RSI at 38.77 is Neutral, neither overbought nor oversold. The STOCH value of 42.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KYTX.

Kyverna Therapeutics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$4.09B	-18.78	-4.70%	5.70%	27.38%	-68.17%
ADAP	46 Neutral	$56.31M	―	-273.36%	―	194.23%	45.50%
CRSP	46 Neutral	$3.26B	―	-19.20%	―	-89.95%	-123.71%
KYTX	44 Neutral	$101.67M	―	-36.55%	―	―	―
BLUE	42 Neutral	$36.92M	―	-270.20%	―	144.50%	-141.91%
FATE	42 Neutral	$101.03M	―	-54.21%	―	-78.55%	-0.92%
ALLO	41 Neutral	$338.93M	―	-55.13%	―	-86.25%	36.10%

Kyverna Therapeutics, Inc. Corporate Events

Kyverna Therapeutics Sets 2025 Strategic Priorities for Growth

Kyverna Therapeutics announces its strategic priorities for 2025, highlighting its focus on advancing the KYV-101 CD19 CAR T-cell therapy through late-stage development and commercialization for autoimmune diseases. The company aims to achieve a first-to-market position with KYV-101 for stiff person syndrome, with a BLA filing targeted for 2026, while also expanding its pipeline with KYV-102 to enhance CAR T accessibility. The company is focusing on capital-efficient growth and has a cash runway into 2027 to support its strategic goals.

Kyverna CMO Resignation Highlights Leadership Transition Impact

Kyverna Therapeutics announced that its Chief Medical Officer, Dr. James Chung, will resign effective November 22, 2024. The company has agreed to a severance package including $220,000 and continued healthcare coverage under COBRA, provided Dr. Chung does not revoke his release of claims against the company. This move highlights important considerations for investors regarding company leadership transitions and their potential financial implications.

Kyverna Therapeutics Advances in Cell Therapy Leadership

Kyverna Therapeutics has announced significant progress in its clinical-stage biopharmaceutical efforts, focusing on cell therapies for autoimmune diseases. With Warner Biddle as the new CEO, the company is advancing its lead candidate, KYV-101, aimed at treating conditions like myasthenia gravis and lupus nephritis. Despite reporting a quarterly net loss, Kyverna maintains a strong financial position with over $321 million in cash and securities, positioning itself for future growth and innovation in the cell therapy space.