Yahoo Finance Video
J.P. Morgan and Morgan Stanley have initiated coverage of the biotech company Kyverna Therapeutics (KYTX), giving the company an Overweight rating. The company recently went public and began building its clinical trial program to fight autoimmune diseases. Kyverna CEO Dr. Peter Maag joins Yahoo Finance to discuss its research into CAR-T cell therapy for autoimmune indications, which affect "many, many patients." Maag elaborates on the company's cash runway to continue research following the IPO: "We started the IPO wanting to maybe raise about $200 million. We got such a response, we were continuously upgrading and upsizing the offering, and ended up with more than $300 million raised, which was phenomenal. Most important, we also got very, very important investors into the story, which was a tremendous success. That allows us really to have a runway until 2026 and being able to execute against this clinical trial opportunity that we have in front of us. So we are very well capitalized for what we need to do in order to demonstrate the power of technology in autoimmune disease." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
