Quarterly ResultMay 12, 2026, 04:14 PM
Kyverna Q1 Net Loss $(39.7)M; R&D Expenses Down; Cash $32.2M
AI Summary
Kyverna Therapeutics reported a net loss of $39.7 million for the three months ended March 31, 2026, an improvement from the $44.6 million loss in the prior year. Research and development expenses decreased to $30.1 million, while general and administrative expenses rose. The company's cash and cash equivalents stood at $32.2 million, with total cash, cash equivalents, and marketable securities at $236.4 million, which management expects to fund operations for at least the next 12 months.
Key Highlights
- Net loss for Q1 2026 was $(39.7) million, an improvement from $(44.6) million in Q1 2025.
- Research and development expenses decreased to $30.1 million from $37.4 million year-over-year.
- General and administrative expenses increased to $11.3 million from $10.0 million in Q1 2025.
- Cash and cash equivalents were $32.2 million as of March 31, 2026, down from $124.1 million.
- Available-for-sale marketable securities increased to $204.3 million from $155.2 million.
- Net cash used in operating activities was $(41.6) million, a slight decrease from $(44.9) million.
- Accumulated deficit reached $(464.6) million as of March 31, 2026.
- Management expects existing funds to be sufficient for at least the next 12 months.
Price Impact
More from KYTX