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Other financials

Income statement

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Operating income-$41.4M+12.7%
Net income-$39.7M+11.0%
EPS (diluted)-$0.66+35.9%

Balance sheet

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Cash & equivalents$32.2M-43.4%
Total debt$9.2M+32.1%
Total equity$195.6M-12.7%
Total assets$257.0M-1.4%

Cash flow

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Operating cash flow-$41.6M+7.4%
CapEx$2.0K-98.0%
Free cash flow-$33.5M+10.8%

Valuation

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Market cap$483.93M+261%
Enterprise value$460.9M+433%

Returns & leverage

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Return on equity-74.5%+74.4pp
Debt / equity0.0×
Current ratio8.1×+0.7×

Where this comes from

Reported directly by Kyverna Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Kyverna Therapeutics, Inc.’s 10-Q, filed May 12, 2026.

Filed
May 12, 2026, 4:08 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-219397
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Operating expenses
Research and development$30,073$37,433
General and administrative11,2949,975
Total operating expenses41,36747,408
Loss from operations(41,367)(47,408)
Interest income2,3272,825
Interest expense(667)(25)
Other expense, net(21)(27)

Item 1. Financial Statements (unaudited)

FAQ

What is Kyverna Therapeutics, Inc.'s R&D?
Kyverna Therapeutics, Inc. (KYTX) reported R&D of $30.07M in Q1 2026.
How has Kyverna Therapeutics, Inc.'s R&D changed year-over-year?
Kyverna Therapeutics, Inc.'s R&D decreased by 19.7% year-over-year, from $37.43M to $30.07M.
What is the long-term trend for Kyverna Therapeutics, Inc.'s R&D?
Over 2 years (2023 to 2025), Kyverna Therapeutics, Inc.'s R&D has grown at a 63.7% compound annual growth rate (CAGR), from $49.92M to $133.72M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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