The Law Offices of Frank R. Cruz reminds investors of the upcoming February 7, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who 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 ARE AN INVESTOR WHO LOST MONEY ON KYVERNA THERAPEUTICS, INC. (KYTX), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

What Happened?

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.

What Is The Lawsuit About?

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.

If you purchased or otherwise acquired Kyverna common stock pursuant and/or traceable to the IPO, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is February 7, 2025.

Contact Us To Participate or Learn More:

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 us:

Frank R. Cruz

The Law Offices of Frank R. Cruz,

2121 Avenue of the Stars, Suite 800,

Century City, California 90067

Email us at: info@frankcruzlaw.com

Call us at: 310-914-5007

Visit our website at www.frankcruzlaw.com

Follow us for updates on Twitter: twitter.com/FRC_LAW

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20250205431517/en/