Kyverna Therapeutics, Inc. (KYTX): debt financing — Kyverna secures up to $150M debt facility from Oxford Finance; SPS data readout accelerated

Kyverna Therapeutics, Inc.

Non-dilutive term loan facility of up to $150M; initial draw of $25M on Nov 3, 2025.
Loan matures Oct 1, 2030; floating interest at 1M SOFR + 5.00% (floor 3.75%); interest-only to Nov 2028/2029.
Cash runway extended into 2027, supporting SPS BLA filing and MG Phase 3 trial.
Topline registrational Phase 2 SPS data now expected early 2026 (narrowed from 1H 2026); BLA filing 1H 2026.
MG Phase 3 enrollment to start by year-end 2025; updated Phase 2/3 data expected 2026.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Kyverna Therapeutics, Inc. incurred term loan of up to $150.0 million with Oxford Finance LLC at a floating per annum rate equal to (a) the greater of (i) the 1-Month CME Term S maturing October 1, 2030.

Instrument: term loan
Principal: up to $150.0 million
Counterparty: Oxford Finance LLC
Rate: a floating per annum rate equal to (a) the greater of (i) the 1-Month CME Term S
Maturity: October 1, 2030
Event: incurrence

Exact text from the filing

from time to time party thereto. The Loan and Security Agreement provides a non-dilutive term loan facility (the “Loan Facility”) up to an aggregate principal amount of up to $150.0 million in multiple tranches, subject to certain conditions. The Loan Facility includes an initial tranche of $40.0 million and two additional tranches totaling $60.0 million, subject to

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Kyverna Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-261719

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