More than two years after the bottom fell out for biotech stocks, the market for IPOs is showing early signs of life, though investors are generally looking for more well-established companies than in the past. Four of the five companies who have filed for IPOs in January – including Kyverna – have drugs in Phase 2 testing or later.
Kyverna’s lead program is a CAR-T cell therapy called KYV-101 that originated within the NIH. Like many cell therapies for cancer, the treatment aims at a protein called CD19.
