Deals
Biotech Kyverna Therapeutics Tops IPO Goal to Raise $319 Million
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Kyverna Therapeutics Inc. raised $319 million in a US initial public offering priced above a marketed range, as drug developers continue to receive a warm welcome from new investors.
The Bain Capital-backed biotechnology company sold 14.5 million shares for $22 each on Wednesday, according to a statement. Kyverna, based in Emeryville, California, had marketed the shares for $20 to $21. Strong demand led the firm to boost both the size and the targeted price range on Tuesday.