LOS ANGELES, Jan. 02, 2025 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP reminds investors of the upcoming February 7, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NASDAQ: KYTX) common stock pursuant and/or traceable to the Registration Statement issued in connection with the Company’s February 2024 initial public offering (the “IPO” or the “Offering”).
IF YOU SUFFERED A LOSS ON YOUR KYVERNA INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On or about February 8, 2024, Kyverna conducted its IPO selling 14.5 million shares of common stock for $22.00 per share.
On June 14, 2024, Kyverna provided an update on its lupus nephritis drug, KYV-101, and published an investor presentation disclosing adverse data regarding one of its clinical trials, despite having previously touted patient improvement.
Investors have suffered significant losses since the IPO. At the time of filing, Kyverna’s stock price traded as low as $3.92 per share, more than 82% the IPO price.
What Is The Lawsuit About?
The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) adverse data it possessed related to one of its trials; (2) the risk posed by the Company’s withholding of adverse data regarding one of its clinical trials; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Kyverna securities during the Class Period, you may move the Court no later than February 7, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
