NEW ORLEANS, Dec. 18, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 7, 2025 to file lead plaintiff applications in a securities class action lawsuit against Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NasdaqGS: KYTX), if they purchased the Company’s shares pursuant and/or traceable to the Company’s registration statement issued in connection with its February 2024 initial public offering (“IPO”). This action is pending in the United States District Court for the Northern District of California.
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Kyverna investors should visit us at https://www.claimsfiler.com/cases/nasdaq-kytx or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Kyverna and certain of its executives and others are charged with failing to disclose material information in its IPO Registration Statement and Prospectus (collectively, the “Offering Documents”), violating federal securities laws.
According to the Complaint, the Company’s Offering Documents used to effectuate its IPO misstated and/or omitted facts concerning the results of the Company’s ongoing evaluation of its lead product candidate, KYV-101, in clinical trials. Specifically, the Company touted patient “improvement” in certain indicators while failing to disclose adverse data regarding one of the trials, which adverse data was known to the Company at the time of the IPO. When these true facts emerged after the Offering, the Company’s shares fell sharply, severely harming investors.
The case is Rondini v. Kyverna Therapeutics, Inc., et al., No. 24-cv-08869.
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