Kyverna Therapeutics, Inc.
KYTX Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2023–FY2025
Last close · Oct 23, 2026
$5.39
5.9%What Kyverna Therapeutics, Inc. does
No business description yet.
- Legal name
- Kyverna Therapeutics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 26, 2026
- Accession · CIK
- 0001193125-26-126242
0001994702
Revenue and margins
Kyverna Therapeutics, Inc. had — of revenue in fiscal 2025.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was −$154M in fiscal 2025, — of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Kyverna Therapeutics, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 15.5%.
Balance sheet
Cash, debt and the ratios that show how comfortably Kyverna Therapeutics, Inc. can carry it.
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $57.5M | $286M | $279M |
| Debt incl. finance leases | — | — | $25.1M |
| Debt / equity | — | — | 0.1x |
| Interest coverage | −333.7x | −1,004.3x | −347.3x |
| Current ratio | 3.1x | 8.6x | 7.8x |
| Quick ratio | 3.1x | 8.6x | 7.8x |
| Total assets | $75.2M | $305M | $294M |
| Total liabilities | $26.0M | $38.1M | $61.6M |
| Shareholders' equity | −$13.1M | $267M | $232M |
| Net debt (− = net cash) | — | — | −$254M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — |
| Current ratio rose | — | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | — | — | — |
| F-score | — / 3 | — / 6 | — / 6 |
| Accruals ratio | −10.6% | −7.0% | −2.5% |
| Altman Z'' | −8.45 | 6.92 | 0.87 |
3 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Research and development | $49.9M | $112M | $134M |
| Operating income | −$62.4M | −$143M | −$170M |
| Interest expense | $0.2M | $0.1M | $0.5M |
| Income tax | $0.0M | $0.0M | $0.0M |
| Net income | −$60.4M | −$127M | −$161M |
| Diluted EPS | −$89.61 | −$3.33 | −$3.64 |
| Diluted shares | 0.00B | 0.04B | 0.04B |
| Cash flow | |||
| Cash from operations | −$52.4M | −$114M | −$154M |
| Capital expenditure | $0.6M | $2.2M | $0.0M |
| Free cash flow | −$53.0M | −$116M | −$154M |
| Depreciation and amortization | $1.7M | $2.1M | $1.8M |
| Stock-based compensation | $2.2M | $8.4M | $10.1M |
| Balance sheet | |||
| Cash and short-term investments | $57.5M | $286M | $279M |
| Total debt | — | — | $24.7M |
| Finance lease liabilities | — | $0.9M | $0.3M |
| Current assets | $60.7M | $291M | $283M |
| Current liabilities | $19.9M | $33.8M | $36.5M |
| Property and equipment, net | $2.3M | $3.3M | $1.5M |
| Total assets | $75.2M | $305M | $294M |
| Total liabilities | $26.0M | $38.1M | $61.6M |
| Preferred stock | — | $0.0M | $0.0M |
| Shareholders' equity | −$13.1M | $267M | $232M |
| Returns | |||
| Return on capital employed | −112.8% | −52.6% | −66.0% |
| Return on equity | — | −100.6% | −64.7% |
| Return on assets | −80.3% | −67.1% | −53.9% |
| Return on tangible equity | — | −47.8% | −69.4% |
| Growth | |||
| Share count change | — | 5,591.0% | 15.5% |
| Financial health | |||
| Debt / equity | — | — | 0.1x |
| Interest coverage | −333.7x | −1,004.3x | −347.3x |
| Current ratio | 3.1x | 8.6x | 7.8x |
| Quick ratio | 3.1x | 8.6x | 7.8x |
| Quality scores | |||
| Altman Z'' | −8.4 | 6.9 | 0.9 |
| Accruals ratio | −10.6% | −7.0% | −2.5% |
Source: SEC EDGAR XBRL filings (CIK 0001994702). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.