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 chris.wack@wsj.com
(END) Dow Jones Newswires
June 20, 2024 11:16 ET (15:16 GMT)
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