Kyverna Therapeutics surges nearly 60% after IPO upsized

Kyverna Therapeutics

08/02/2024 20:08

** Kyverna Therapeutics  KYTX.O  shares surge in debut on
Thurs after biopharma's IPO exceeds expectations
    ** KYTX opens at $34.25 and trades as high as $35.06, 59.4%
above the $22 IPO price
    ** Co backed by Gilead Sciences  GILD.O  sold 14.5 mln
shares $1 above already upwardly revised range of $20-$21,
raising $319 mln
    ** It had originally marketed roughly 11 mln shares in range
of $17-$19 before boosting offering size on Tues
    ** Co, founded in 2018, developing cell therapies to treat
autoimmune diseases
    ** JPMorgan  JPM.N , Morgan Stanley  MS.N , Leerink and
Wells Fargo  WFC.N  joint bookrunners for the IPO

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))