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Monday – Kyverna Therapeutics Inc (NASDAQ:KYTX) has received a new Overweight rating from JPMorgan, with the investment firm setting a price target of $39 for the biotechnology company’s stock. The firm’s analysis suggests that Kyverna’s work in developing CD19 CAR-T cell therapy for autoimmune diseases holds significant potential.
Kyverna is currently leading the development in autologous CAR-T therapies, with its primary candidate, KYV-101, undergoing clinical trials for various rheumatology and neurology indications. JPMorgan’s coverage initiation is buoyed by the promising early clinical results for lupus nephritis (LN) and myasthenia gravis (MG), which indicate a potential for disease modification in patients with limited treatment options.
The valuation of Kyverna is primarily based on the prospects of its leading treatments for conditions such as LN, MG, scleroderma (SSc), and multiple sclerosis (MS). The firm anticipates that forthcoming updates from the company’s five Phase 1/2-stage studies, expected to be presented at upcoming medical meetings, will reinforce the therapeutic’s credibility.
JPMorgan’s outlook is optimistic about Kyverna’s ability to revolutionize the current treatment paradigm, given the data remains consistent. The analyst notes that Kyverna’s success could open up a broader range of opportunities within the field of autoimmune disease treatments.
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This story originally appeared on Investing
