Newly public biotech Kyverna Therapeutics could be a blockbuster cell therapy developer for autoimmune disease, according to Morgan Stanley.
The stock opened at $34.25, above the initial public offering price of $22 per share, and closed Friday at $27.75.
Although the data from KYV-101 is limited, Ulz wrote that he's "highly encouraged given promising results across multiple indications, multiple sites, and in challenging patients."
The analyst pointed out that cell therapies have "meaningfully improved" the treatment of B-cell cancers and that multiple therapies are currently approved, increasing the therapies' potential to treat autoimmune diseases.
Ingenui-T is a next-generation process in preclinical development for manufacturing autologous anti-CD19 CAR T-cell therapy, and uses the same CAR construct as KYV-101, Kyverna said.
Persons:
Morgan Stanley, Michael Ulz, Kyverna, Ulz
Organizations:
Therapeutics, Nasdaq, autoimmunity
Locations:
KYV, Kyverna