Kyverna Therapeutics Shares Rise 13% After FDA Clearance for KYV-101

By Chris Wack

Kyverna Therapeutics shares were up 13% at $8.37 after the company said it has received clearance for its Investigational New Drug, or IND, application by the U.S. Food and Drug Administration for its T-cell product candidate, KYV-101, to be used for the treatment of stiff-person syndrome in a new trial.

The stock hit its 52-week low of $6.75 on Tuesday, and is down 68% in the past three months.

Kyverna stock began trading on the Nasdaq Global Select Market in February.

The biopharmaceutical company said Thursday that KYV-101 would be used for patients with stiff-person syndrome--a rare, progressive neurological disorder that causes muscle rigidity and spasms in the torso and limbs--who don't respond to current therapies, with implications in providing potentially long-lasting benefits.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

06-20-24 1116ET