Kyverna prices $100M public offering of 13.3M shares at $7.50 per share

Kyverna Therapeutics, Inc.

Offering of 13,333,333 shares of common stock at $7.50/share; gross proceeds ~$100M.
Underwriters granted a 30-day option to purchase up to 1,999,999 additional shares at $7.50/share less discounts.
Net proceeds for general corporate purposes, including R&D, capex, working capital.
Expected closing on or about December 18, 2025; directors, officers, affiliates subject to lock-up through January 31, 2026.
Joint book-running managers: J.P. Morgan, Leerink Partners, Morgan Stanley, Wells Fargo Securities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Kyverna Therapeutics, Inc. entered into Underwriting Agreement with J.P. Morgan Securities LLC, Leerink Partners LLC and Morgan Stanley & Co. LLC valued at approximately $100 million (effective 2025-12-17).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, Leerink Partners LLC and Morgan Stanley & Co. LLC
Value: approximately $100 million
Effective: 2025-12-17

Exact text from the filing

On December 17, 2025, Kyverna Therapeutics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Leerink Partners LLC and Morgan Stanley & Co. LLC as the representatives (the “Representatives”) of the several underwriters named therein (the “Underwriters”), relating to the issuance and sale in an underwritten public offering (the “Offering”) of an aggregate of 13,333,333 shares of common stock

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Kyverna Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-123033

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