Kyverna Therapeutics, Inc.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

(a) Unregistered Sales of Equity Securities

None.

(b) Use of Proceeds

On February 7, 2024, our Registration Statement on Form S-1 (File No. 333-276523) was declared effective by the SEC for our IPO. At the closing of the IPO on February 12, 2024, we sold 16,675,000 shares of common stock, which included the exercise in full by the underwriters of their option to purchase 2,175,000 additional shares, at an initial public offering price of $22.00 per share and received gross proceeds of $366.9 million, which resulted in net proceeds to us of $336.2 million, after deducting underwriting discounts and commissions and other offering costs totaling $30.7 million. None of the expenses associated with the IPO were paid to directors, officers, persons owning ten percent or more of any class of equity securities, or to their associates, or to our affiliates, other than payments from our net proceeds in the ordinary course of business to officers for salaries and to non-employee directors as compensation for service on the board of directors or committees of the board of directors and less than $0.1 million in consulting fees related to the IPO to one of the board members. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Leerink Partners LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the IPO.

The net proceeds from our IPO have been invested according to our approved investment policy in a mix of money market funds and high-quality, fixed income securities. There has been no material change in the planned use of IPO proceeds from that described in our final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act with the SEC on February 8, 2024.

(c) Issuer Repurchases of Equity Securities

None.