Kyverna Therapeutics: 'Strong Buy' On ElevateBio Manufacturing Deal And RA Program Advancement

Kyverna Therapeutics remains a 'Strong Buy' as miv-cel advances in SPS, gMG, and refractory RA with robust clinical data. Rolling BLA submission for miv-cel in SPS is underway, targeting completion by Q4 2026, supported by positive phase 2 KYSA-8 results.

The manufacturing agreement with ElevateBio secures supply for miv-cel, supporting U.S. and global commercialization and future indications. Upcoming catalysts include phase 2/3 KYSA-6 long-term data in gMG and phase 2 COMPARE results in refractory RA, expanding miv-cel’s addressable markets.