"Kyverna Therapeutics' Record-Breaking $319M IPO Fuels Cell Therapy Fervor"

California biotech Kyverna Therapeutics has raised $319 million in its Nasdaq debut, pricing its shares at $22 apiece and valuing the company at about $898 million. The successful IPO reflects investor enthusiasm for the company's work in bringing CAR-T cell therapies into the autoimmune world, beyond their initial focus on blood cancer, as it exceeded its original fundraising target of $182 million and increased its price range to $20 to $21 before final pricing.