Kyverna Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 |
|---|---|---|---|---|
| Income Statement | ||||
| Research and development | $133.7M | $112.5M | $49.9M | — |
| Operating expenses | $169.8M | $142.6M | $62.4M | — |
| Operating income | -$169.8M | -$142.6M | -$62.4M | — |
| Interest expense | $489,000 | $142,000 | $187,000 | — |
| Income tax expense | $0 | $0 | $0 | — |
| Net income | -$161.3M | -$127.5M | -$60.4M | — |
| Balance Sheet | ||||
| Cash and equivalents | $124.1M | $96.6M | $34.6M | — |
| Current assets | $283.0M | $290.6M | $60.7M | — |
| Total assets | $293.8M | $304.6M | $75.2M | — |
| Current liabilities | $36.5M | $33.8M | $19.9M | — |
| Total liabilities | $61.5M | $38.1M | $26.0M | — |
| Stockholders' equity | $232.3M | $266.6M | -$13.1M | -$74.0M |
| Cash Flow Statement | ||||
| Cash from operations | -$153.7M | -$114.2M | -$52.4M | — |
| Depreciation and amortization | $1.8M | $2.1M | $1.7M | — |
| Stock-based compensation | $10.1M | $8.4M | $2.2M | — |
| Capital expenditure | $5,000 | $2.2M | $621,000 | — |
| Free cash flow | -$153.7M | -$116.5M | -$53.0M | — |
| Impairments | $600,000 | $0 | $0 | — |
Shares outstanding 60.8M · Free float 54.0%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.