Kyverna Therapeutics FY23 EPS $(89.61) Vs $(63.43) YoY
Portfolio Pulse from Benzinga Newsdesk
Kyverna Therapeutics reported a FY23 net loss of $60.4 million, or $89.61 per share, worsening from a $28.9 million loss, or $63.43 per share in FY22. Operating cash use increased to $52.4 million from $36.1 million. As of Dec 31, 2023, it had $57.5 million in liquidity. Post FY23, Kyverna raised $366.9 million in an IPO in February 2024.
March 26, 2024 | 8:20 pm
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NEUTRAL IMPACT
Kyverna Therapeutics' FY23 report shows increased losses and cash use, but a significant capital raise through an IPO in February 2024 may offset concerns.
The worsening financial performance in FY23 could pressure KYTX's stock in the short term due to increased losses and cash burn. However, the substantial funds raised through the IPO could mitigate these concerns by providing the company with a significant liquidity boost, potentially stabilizing the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100