KYTX on Nasdaq
Kyverna Therapeutics, Inc.
American biological products company based in Emeryville. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $133.7M | $112.5M |
| General and administrative | $36.1M | $30.1M |
| Total operating expenses | $169.8M | $142.6M |
| Loss from operations | -$169.8M | -$142.6M |
| Interest income | $9.1M | $15.4M |
| Interest expense | -$489.0K | -$142.0K |
| Other expense, net | -$85.0K | -$90.0K |
| Total other income, net | $8.5M | $15.1M |
| Net loss | -$161.3M | -$127.5M |
| Unrealized gain (loss) on available-for-sale marketable securities, net | -$8.0K | $101.0K |
| Total other comprehensive gain (loss) | -$8.0K | $101.0K |
| Net loss and other comprehensive loss | -$161.3M | -$127.4M |
| Net loss per share attributable to common stockholders, basic | -$3.64 | -$3.33 |
| Net loss per share attributable to common stockholders, diluted | -$3.64 | -$3.33 |
| Weighted-average shares of common stock outstanding, basic | 44.3M shares | 38.3M shares |
| Weighted-average shares of common stock outstanding, diluted | 44.3M shares | 38.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $124.1M | $96.6M | |
| Available-for-sale marketable securities | $155.2M | $189.4M | |
| Prepaid expenses and other current assets | $3.7M | $4.6M | |
| Total current assets | $283.0M | $290.6M | |
| Restricted cash | $551.0K | $552.0K | |
| Property and equipment, net | $1.5M | $3.3M | |
| Operating lease right-of-use assets | $3.6M | $6.5M | |
| Finance lease right-of-use assets | $305.0K | $841.0K | |
| Other non-current assets | $4.9M | $2.8M | |
| Total assets | $293.8M | $304.6M | |
| Accounts payable | $5.3M | $4.6M | |
| Accrued compensation | $10.0M | $4.9M | |
| Accrued license expense - related party | $3.8M | $6.2M | |
| Other accrued expenses and current liabilities | $13.5M | $14.1M | |
| Operating lease liabilities, short-term portion | $3.7M | $3.2M | |
| Finance lease liabilities, short-term portion | $307.0K | $779.0K | |
| Total current liabilities | $36.5M | $33.8M | |
| Operating lease liabilities, net of short-term portion | $320.0K | $4.2M | |
| Finance lease liabilities, net of short-term portion | $0 | $142.0K | |
| Term loan | $24.7M | $0 | |
| Total liabilities | $61.5M | $38.1M | |
| Preferred stock, 10,000,000 shares authorized, $0.00001 par value, no shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock, $0.00001 par value; 490,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 60,389,893 and 43,214,918 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $1.0K | $0 | |
| Additional paid-in capital | $657.0M | $530.0M | |
| Accumulated other comprehensive income | $97.0K | $105.0K | |
| Accumulated deficit | -$424.8M | -$263.5M | |
| Total stockholders' equity | $232.3M | $266.6M | -$13.1M |
| Total liabilities and stockholders' equity | $293.8M | $304.6M | |
| Preferred stock shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock par value | $0.00 | $0.00 | |
| Preferred stock shares issued | 0 shares | 0 shares | |
| Preferred stock shares outstanding | 0 shares | 0 shares | |
| Common stock par value | $0.00 | $0.00 | |
| Common stock shares authorized | 490.0M shares | 490.0M shares | |
| Common stock shares issued | 60.4M shares | 43.2M shares | |
| Common stock shares outstanding | 60.4M shares | 43.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $124.1M | $96.6M | |
| Available-for-sale marketable securities | $155.2M | $189.4M | |
| Prepaid expenses and other current assets | $3.7M | $4.6M | |
| Total current assets | $283.0M | $290.6M | |
| Restricted cash | $551.0K | $552.0K | |
| Property and equipment, net | $1.5M | $3.3M | |
| Operating lease right-of-use assets | $3.6M | $6.5M | |
| Finance lease right-of-use assets | $305.0K | $841.0K | |
| Other non-current assets | $4.9M | $2.8M | |
| Total assets | $293.8M | $304.6M | |
| Accounts payable | $5.3M | $4.6M | |
| Accrued compensation | $10.0M | $4.9M | |
| Accrued license expense - related party | $3.8M | $6.2M | |
| Other accrued expenses and current liabilities | $13.5M | $14.1M | |
| Operating lease liabilities, short-term portion | $3.7M | $3.2M | |
| Finance lease liabilities, short-term portion | $307.0K | $779.0K | |
| Total current liabilities | $36.5M | $33.8M | |
| Operating lease liabilities, net of short-term portion | $320.0K | $4.2M | |
| Finance lease liabilities, net of short-term portion | $0 | $142.0K | |
| Term loan | $24.7M | $0 | |
| Total liabilities | $61.5M | $38.1M | |
| Preferred stock, 10,000,000 shares authorized, $0.00001 par value, no shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock, $0.00001 par value; 490,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 60,389,893 and 43,214,918 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $1.0K | $0 | |
| Additional paid-in capital | $657.0M | $530.0M | |
| Accumulated other comprehensive income | $97.0K | $105.0K | |
| Accumulated deficit | -$424.8M | -$263.5M | |
| Total stockholders' equity | $232.3M | $266.6M | -$13.1M |
| Total liabilities and stockholders' equity | $293.8M | $304.6M | |
| Preferred stock shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock par value | $0.00 | $0.00 | |
| Preferred stock shares issued | 0 shares | 0 shares | |
| Preferred stock shares outstanding | 0 shares | 0 shares | |
| Common stock par value | $0.00 | $0.00 | |
| Common stock shares authorized | 490.0M shares | 490.0M shares | |
| Common stock shares issued | 60.4M shares | 43.2M shares | |
| Common stock shares outstanding | 60.4M shares | 43.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$161.3M | -$127.5M |
| Stock-based compensation | $10.1M | $8.4M |
| Accretion of discounts on available-for-sale marketable securities | -$6.9M | -$7.7M |
| Non-cash lease expense | $2.9M | $2.5M |
| Depreciation and amortization expense | $1.8M | $2.1M |
| Impairment of capitalized software | $648.0K | $0 |
| Non-cash interest expense | $72.0K | $0 |
| Loss on disposal of property and equipment | $60.0K | $0 |
| Prepaid expense and other current assets | $893.0K | -$1.5M |
| Other non-current assets | -$980.0K | -$2.0M |
| Accounts payable | $543.0K | $736.0K |
| Accrued compensation | $5.1M | $2.1M |
| Other accrued expenses and current liabilities | -$800.0K | $10.9M |
| Accrued license expense - related party | -$2.5M | $0 |
| Operating lease liability | -$3.3M | -$2.4M |
| Net cash used in operating activities | -$153.7M | -$114.2M |
| Purchases of available-for-sale marketable securities | -$364.6M | -$490.0M |
| Proceeds from maturities of available-for-sale marketable securities | $405.7M | $331.3M |
| Internal-use software development costs | -$1.1M | $0 |
| Proceeds from sale of property and equipment | $70.0K | $0 |
| Purchases of property and equipment | -$5.0K | -$2.2M |
| Net cash provided by (used in) investing activities | $40.0M | -$160.9M |
| Proceeds from issuance of common stock upon initial public offering and underwritten public offering, net of underwriting commissions | $99.0M | $341.2M |
| Proceeds from issuance of common stock under the ATM Facility, net of agent's fees | $16.9M | $0 |
| Proceeds from borrowing of the term loan, net of issuance costs | $24.7M | $0 |
| Proceeds from exercise of common stock options | $2.0M | $259.0K |
| Principal paid on finance lease liabilities | -$808.0K | -$956.0K |
| Payments for common stock issuance offering costs | -$475.0K | -$3.4M |
| Taxes paid related to net share settlement upon vesting of restricted stock units | -$144.0K | $0 |
| Net cash provided by financing activities | $141.2M | $337.1M |
| Net increase in cash and cash equivalents and restricted cash | $27.5M | $62.0M |
| Conversion of 114,556,997 shares of redeemable convertible preferred stock to common stock shares upon the closing of initial public offering | $0 | $180.6M |
| Unpaid offering costs included in accounts payable and other current liabilities | $352.0K | |
| Vesting of restricted stock | $0 | $6.0K |
| Right-of-use asset obtained in exchange for operating and finance lease liability | $194.0K | $2.5M |
| Cash paid for interest | $415.0K | $142.0K |
| Conversion of redeemable convertible preferred stock into common stock shares on completion of initial public offering | 114.6M shares | 114.6M shares |
No quarter-by-quarter statement was filed.
Leadership
Who has led Kyverna Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
2025
- Chief executive officerPeter Maag Feb 7, 2024 to Feb 7, 20247
- Chief executive officerWarner Weston Biddle Sep 18, 2024 to now8
- ChairChristi Shaw Jan 14, 2026 to now9
- Chief financial officerGregory S. Martini May 20, 2026 to now10
- Chief financial officerMarc Grasso Jul 1, 2025 to May 20, 202611
- Chief financial officerRyan Alexander Jones Feb 7, 2024 to Jul 1, 202512
Board members and other officers (15)
- Chief Technology OfficerMayobanex Pujols Feb 11, 2026 to now13
- Chief Commercial OfficerNadia Dac May 6, 2026 to now14
- OfficerNaji Gehchan Jan 24, 2025 to now15
- OfficerDominique Christian Borie Feb 7, 2024 to Feb 7, 202416
- Board memberSravan Kumar Emany Feb 26, 2026 to now17
- Board memberBeth C. Seidenberg Feb 7, 2024 to now18
- Board memberBrian L. Kotzin Feb 7, 2024 to Feb 7, 202419
- Board memberDaniel K. Spiegelman Feb 7, 2024 to now20
- Board memberFred E. Cohen Feb 7, 2024 to now21
- Board memberIan T. Clark Feb 7, 2024 to now22
- Board memberPeter Maag Feb 7, 2024 to Feb 7, 20247
- Board memberStephen Constantine Liapis Feb 8, 2024 to Feb 8, 202423
- Board memberChristi Shaw Sep 18, 2024 to now24
- Board memberWarner Weston Biddle Sep 18, 2024 to now8
- Board memberMert Aktar Oct 24, 2024 to now25
Named in SEC Form D filings
People the company listed in its private-offering notices.
Timeline
Filings
186 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 41 major events, 68 insider forms, 12 large holders, 1 private raises, 53 other. The latest 20:
- Sep 24, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
- Jul 29, 2026SCHEDULE 13G EDGAR
- Jul 27, 20268-K EDGAR
- Jul 9, 20268-K EDGAR
- Jun 2, 20268-K EDGAR
- May 29, 20264 EDGAR
- May 29, 20264 EDGAR
- May 29, 20264 EDGAR
- May 29, 20264 EDGAR
- May 29, 20264 EDGAR
- May 20, 20263 EDGAR
- May 20, 20264 EDGAR
- May 18, 20268-K EDGAR
- May 12, 202610-Q EDGAR
- May 12, 20268-K EDGAR
- May 6, 20264 EDGAR
- May 6, 20263 EDGAR
The 186 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
7 open-market trades by officers, directors and large owners since October 2021: 6 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 18, 2025 | SEIDENBERG BETH CDirector | Buy | 133,333 | $7.50 | $1.0M | Form 4 |
| Dec 18, 2025 | Westlake BioPartners Opportunity Fund I, L.P.10% owner | Buy | 133,333 | $7.50 | $1.0M | Form 4 |
| Dec 15, 2025 | Walker Karen MarieChief Technology Officer | Sale | 23,998 | $12.20 | $292.8K | Form 4 |
| Feb 12, 2024 | GILEAD SCIENCES, INC.10% owner | Buy | 910,000 | $22.00 | $20.0M | Form 4 |
| Feb 12, 2024 | Vida Ventures GP III, L.L.C.10% owner | Buy | 253,136 | $22.00 | $5.6M | Form 4 |
| Feb 12, 2024 | Bain Capital Life Sciences Fund III, L.P.10% owner | Buy | 450,000 | $22.00 | $9.9M | Form 4 |
| Feb 12, 2024 | Northpond Ventures III GP, LLC | Buy | 450,000 | $22.00 | $9.9M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Bain Capital Life Sciences Opportunities III, LPSCHEDULE 13G/A, 3 filings Feb 14, 2024 to Aug 14, 202627
- BlackRockSCHEDULE 13G, 1 filing Jul 29, 202628
- Northpond Ventures III, LPSCHEDULE 13G/A, 2 filings Feb 22, 2024 to Feb 17, 202629
- Westlake BioPartners Fund I, L.P.SCHEDULE 13G/A, 2 filings Nov 12, 2024 to Feb 6, 202630
- GordonMD Global Investments LPSCHEDULE 13G, 1 filing Nov 17, 202531
- JPMorgan ChaseSC 13G, 1 filing Oct 10, 202432
- Vida Ventures, LLCSC 13D, 1 filing May 3, 202433
Money raised
Private offerings the company reported to the SEC on Form D.
- Nov 9, 2021Raised $152 million in a private offering of equity Form D: 24 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| GordonMD Global Investments LP | 4,244,818 | $37.8M | 18.3% | No change |
| Gilead Sciences, Inc. | 4,126,119 | $36.8M | 2.2% | No change |
| BlackRock, Inc. | 3,134,807 | $27.9M | 0.0% | +2,257,729 |
| Bain Capital Life Sciences Investors, LLC | 2,885,000 | $25.7M | 1.5% | −225,000 |
| AIGH Capital Management LLC | 2,795,797 | $24.9M | 2.3% | +795,797 |
| Deerfield Management Company, L.P. | 2,000,000 | $17.8M | 0.2% | No change |
| Vanguard Capital Management LLC | 1,897,451 | $16.9M | 0.0% | +114,109 |
| Geode Capital Management, LLC | 1,049,430 | $9.4M | 0.0% | +625,604 |
| Insight Holdings Group, LLC | 989,054 | $8.8M | 0.7% | No change |
| Morgan Stanley | 982,307 | $8.8M | 0.0% | +5,018 |
| State Street Corp | 982,233 | $8.8M | 0.0% | +843,933 |
| Propel Bio Management, LLC | 883,198 | $7.9M | 4.1% | +238,777 |
| Woodline Partners LP | 845,325 | $7.5M | 0.0% | No change |
| Millennium Management LLC | 639,780 | $5.7M | 0.0% | −365,728 |
| Mbb Public Markets I LLC | 614,477 | $5.5M | 0.6% | No change |
| Adage Capital Partners Gp, L.l.c. | 500,000 | $4.5M | 0.0% | No change |
| D. E. Shaw & Co., Inc. | 469,346 | $4.2M | 0.0% | −252,235 |
| Wells Fargo & Company/mn | 373,009 | $3.3M | 0.0% | +258,610 |
| UBS Group AG | 365,574 | $3.3M | 0.0% | −84,176 |
| Goldman Sachs Group Inc | 335,230 | $3.0M | 0.0% | +122,320 |
| Renaissance Technologies LLC | 333,899 | $3.0M | 0.0% | −33,593 |
| Charles Schwab Investment Management Inc | 319,666 | $2.8M | 0.0% | +108,578 |
| Northern Trust Corp | 315,354 | $2.8M | 0.0% | +237,312 |
| Bnp Paribas Financial Markets | 310,632 | $2.8M | 0.0% | −101,400 |
| Vanguard Portfolio Management LLC | 282,189 | $2.5M | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 7SEC EDGARPeter Maag, Chief executive officer
- 8
- 9SEC EDGARChristi Shaw, Chair
- 10
- 11SEC EDGARMarc Grasso, Chief financial officer
- 12
- 13
- 14SEC EDGARNadia Dac, Chief Commercial Officer
- 15SEC EDGARNaji Gehchan, Officer
- 16SEC EDGARDominique Christian Borie, Officer
- 17SEC EDGARSravan Kumar Emany, Board member
- 18SEC EDGARBeth C. Seidenberg, Board member
- 19SEC EDGARBrian L. Kotzin, Board member
- 20SEC EDGARDaniel K. Spiegelman, Board member
- 21SEC EDGARFred E. Cohen, Board member
- 22SEC EDGARIan T. Clark, Board member
- 23
- 24SEC EDGARChristi Shaw, Board member
- 25SEC EDGARMert Aktar, Board member
- 26
- 27
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- 29
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