Kyverna Therapeutics (KYTX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Kyverna Therapeutics

NasdaqGS•Healthcare•Biotechnology

$8.25-0.10(-0.01%)Market closed

Market Cap

$434.19M

P/B

2.6x

Kyverna Therapeutics, Inc., a late-stage biopharmaceutical company, focuses on developing cell therapies for patients with autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of stiff person syndrome, myasthenia gravis, and autoimmune diseases. The company is also developing KYV-102, an autologous CD19 CAR T-cell product candidate with whole blood rapid manufacturing; and KYV-201, an allogeneic CD19 CAR T-cell product candidate. It has a license and collaboration agreement with Intellia Therapeutics, Inc. to research and develop an allogeneic CD19-directed CAR cell therapy product. The company was formerly known as BAIT Therapeutics, Inc. and changed its name to Kyverna Therapeutics, Inc. in October 2019. Kyverna Therapeutics, Inc. was incorporated in 2018 and is headquartered in Emeryville, California.

How this company scores

WeakMetricSide Score: 38/100

Grade capped at D — Interest coverage below 1× (-59.0x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (15/25); weakest: Growth (6/25).

Profitability9/25

Growth6/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Low leverageCash-backed earningsProfit converts from growthNet cash position

Grade capped at D

Interest coverage below 1× (-59.0x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 2.6x5y range 0.4x – 2.6x

Currently above its 10-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $434.19M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-157.28M
TTM Op. Income: $-158.93M
Q. Op. Income: $-39.56M
TTM Net Income: $-152.64M
Q. Net Income: $-38.32M
EPS: $-0.63
Shares Out.: $60.90M

$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-157.28M and TTM operating income of $-158.93M show growth is flowing through to the bottom line. However, net income is negative at $152.64M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -3955600000.0%
Net Margin: -3831900000.0%

Op. margin of -3955600000.0% is up 485400000.0% YoY — cost efficiency is improving. Net margin at -3831900000.0% Over the past year, operating margin is up 11% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 2.6x

P/S of 0.0x and P/B of 2.6x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $219.82M
Cash: $31.81M
Long-Term Debt: $24.88M
Book Value: $165.55M
D/E Ratio: 0.2
Debt/EBITDA: N/A

With $219.82M in assets and $24.88M in long-term debt, D/E is 0.2and book value is $165.55M — a conservative capital structure with a cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-40.31M
TTM Free Cash Flow: $-159.04M
FCF Margin: N/A
FCF / Net Income: 1.0

TTM FCF of $-159.04M on $-40.31M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 12% — a weakening trend.