Kyverna Therapeutics (KYTX) Stock Surges 24% After Hours: Why Is It Moving?

Kyverna Therapeutics Inc. (NASDAQ:KYTX) shares jumped 24% after hours to $12.04 Tuesday after releasing positive registrational trial results for miv-cel in stiff person syndrome at the American Academy of Neurology Annual Meeting in Chicago.

Miv-cel, the single-dose CAR T-cell therapy met its primary endpoint, delivering a statistically significant 46% median improvement in the Timed 25-Foot Walk at 16 weeks.

All 26 patients discontinued chronic immunotherapies and 81% achieved a clinically meaningful improvement, with at least a 20% improvement from baseline in walking speed.

No Approved Therapies

Kyverna Therapeutics stated SPS affects roughly 6,000 U.S. patients with no Food and Drug Administration-approved treatments currently available.

CEO Warner Biddle said, "We see compelling evidence that a one-time therapy can reset the immune system, reverse the course of disease, and free patients from the lifelong treatment burden. With no approved therapies, we believe miv-cel could redefine the treatment paradigm for this debilitating, progressive disease."

Trading Metrics, Technical Analysis

In March, KYTX posted fourth-quarter earnings per share of -$0.80, beating the -$0.84 estimate.

With a market capitalization of $587.75 million, Kyverna has a 52-week high of $13.67 and a 52-week low of $1.82.

The Relative Strength Index (RSI) of KYTX stands at 55.20.

Over the past 12 months, the small-cap stock of the California-based biopharmaceutical company has gained 362.38%.

Currently, KYTX is trading at about 67% of its 52-week range.

Price Action: The stock closed the regular session down 13.69% at $9.71, according to Benzinga Pro.

With a strong Momentum in the 98th percentile, Benzinga’s Edge Stock Rankings indicate that KYTX has a positive price trend across all time frames.

Photo Courtesy:

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.