Buy Rating Affirmed for Kyverna Therapeutics on Promising KYV-101 Clinical Advances

Analyst Michael Ulz of Morgan Stanley maintained a Buy rating on Kyverna Therapeutics, Inc. (KYTX – Research Report), retaining the price target of $40.00.

Michael Ulz has given his Buy rating due to a combination of factors surrounding the clinical advancements and potential of Kyverna Therapeutics, Inc.’s lead product, KYV-101. The treatment has shown promising results in multiple sclerosis (MS) and myasthenia gravis (MG), with a safety profile that has been well-tolerated among patients. The increase from 13 to 20 patients treated with KYV-101 and the absence of severe side effects reinforce the drug’s potential. Moreover, Ulz finds the early data in neurology to be indicative of KYV-101’s broad therapeutic potential within this field.

Ulz also emphasizes the significance of recent named patient data, which provides further evidence of KYV-101’s effectiveness in neurology. The rapid clinical improvement observed in a patient with MG and concomitant Lambert-Eaton myasthenic syndrome (LEMS), along with substantial B-cell depletion, aligns with previously published results and supports KYV-101’s capability in treating MG. Furthermore, the named patient results show a robust reduction in MG-ADL scores, which favorably compares to existing treatments. These positive early findings from named patient data, alongside the anticipation of confirmatory results from an ongoing Phase 2 study, contribute to Ulz’s Buy recommendation.

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Kyverna Therapeutics, Inc. (KYTX) Company Description:

Kyverna Therapeutics is a cell therapy company engineering a new class of therapies for autoimmune and inflammatory diseases. The Kyverna therapeutic platform combines advanced T-cell engineering and synthetic biology technologies to suppress and eliminate the autoreactive immune cells at the origin of autoimmune and inflammatory diseases. Kyverna¿s pipeline includes next-generation chimeric antigen receptor T-cell (CAR T) therapies in both autologous and allogeneic formats with properties well suited for use in B cell-driven autoimmune diseases.