Kyverna Q2 net loss $42.1M, cash $211.7M; advances KYV-101 in SPS and MG

Kyverna Therapeutics, Inc.

Net loss $42.1M ($0.97/share) vs $28.8M in Q2 2024; R&D expenses rose to $35.8M from $27.3M.
Cash and equivalents $211.7M as of June 30, 2025, funding operations into 2027.
Phase 2 SPS registrational trial enrollment complete; topline data and BLA filing expected 1H 2026.
Phase 3 MG trial (~60 patients) enrollment to start by year-end 2025; interim Phase 2 data in Q4 2025.
Marc Grasso appointed CFO in June 2025; KYV-102 IND filing expected Q4 2025.

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