©Reuters.
Monday – Kyverna Therapeutics Inc (NASDAQ:KYTX) received a new Overweight rating from JPMorgan, with the investment firm setting a $39 price target on shares of the biotechnology company. The company’s analysis suggests that Kyverna’s work in developing CD19 CAR-T cell therapy for autoimmune diseases has significant potential.
Kyverna is currently leading the development of autologous CAR-T therapies, with its lead candidate, KYV-101, undergoing clinical trials for various rheumatology and neurological indications. JPMorgan’s initiation of coverage is supported by promising initial clinical results for lupus nephritis (LN) and myasthenia gravis (MG), indicating disease-modifying potential in patients with limited treatment options.
Kyverna’s rating is based primarily on the prospects of its leading treatments for conditions such as LN, MG, scleroderma (SSc) and multiple sclerosis (MS). The company expects that upcoming updates on the company’s five Phase 1/2 studies, which are expected to be presented at upcoming medical conferences, will strengthen the therapy’s credibility.
JPMorgan’s outlook is optimistic about Kyverna’s ability to revolutionize the current treatment paradigm as the data remains consistent. The analyst notes that Kyverna’s success could open up a broader range of opportunities in the field of treatments for autoimmune diseases.
This article was generated with the support of AI and reviewed by an editor. For further information please see our T&Cs.