$KYTX
Kyverna Therapeutics, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024095462 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $29.19M $27.32M $10.41M
YoY Change -10.89% 162.58%
% of Gross Profit
Depreciation & Amortization $558.0K $530.0K
YoY Change -55.18%
% of Gross Profit
Operating Expenses $38.77M $33.44M $13.30M
YoY Change -5.51% 151.35%
Operating Profit -$38.77M -$33.44M -$13.30M
YoY Change 138.12% 151.35%
Interest Expense $39.00K $46.00K
YoY Change -15.22%
% of Operating Profit
Other Income/Expense, Net $4.278M $4.632M $211.0K
YoY Change -18700.0% 2095.26%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$34.49M -$28.80M -$13.09M
YoY Change -13.12% 120.02%
Net Earnings / Revenue
Basic Earnings Per Share -$0.80 -$0.67 -$20.86
Diluted Earnings Per Share -$0.80 -$0.67 -$20.86
COMMON SHARES
Basic Shares Outstanding 43.15M 43.12M 627.6K
Diluted Shares Outstanding 43.16M 43.13M 627.6K

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $321.6M $346.2M
YoY Change 316.16%
Cash & Equivalents $104.7M $131.6M $53.43M
Short-Term Investments $216.9M $214.6M
Other Short-Term Assets $3.787M $2.586M
YoY Change 77.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $325.4M $348.8M
YoY Change 309.74%
LONG-TERM ASSETS
Property, Plant & Equipment $3.151M $3.366M
YoY Change -71.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.876M $1.213M
YoY Change -6.43%
Total Long-Term Assets $13.82M $14.29M
YoY Change 5.71%
TOTAL ASSETS
Total Short-Term Assets $325.4M $348.8M
Total Long-Term Assets $13.82M $14.29M
Total Assets $339.2M $363.1M
YoY Change 266.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.932M $4.861M
YoY Change 228.66%
Accrued Expenses $13.69M $11.84M
YoY Change 36.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $931.0K $1.003M
YoY Change 3.79%
Total Short-Term Liabilities $30.99M $23.48M
YoY Change 83.63%
LONG-TERM LIABILITIES
Long-Term Debt $237.0K $407.0K
YoY Change -78.01%
Other Long-Term Liabilities $296.0K $5.722M
YoY Change -94.87%
Total Long-Term Liabilities $296.0K $6.129M
YoY Change -95.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.99M $23.48M
Total Long-Term Liabilities $296.0K $6.129M
Total Liabilities $36.49M $29.61M
YoY Change 53.83%
SHAREHOLDERS EQUITY
Retained Earnings -$226.0M -$191.5M
YoY Change
Common Stock $528.6M $525.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $302.7M $333.5M -$97.20M
YoY Change
Total Liabilities & Shareholders Equity $339.2M $363.1M
YoY Change 266.75%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$34.49M -$28.80M -$13.09M
YoY Change -13.12% 120.02%
Depreciation, Depletion And Amortization $558.0K $530.0K
YoY Change -55.18%
Cash From Operating Activities -$27.49M -$24.18M
YoY Change -18.78%
INVESTING ACTIVITIES
Capital Expenditures $102.0K $1.028M
YoY Change -64.46%
Acquisitions
YoY Change
Other Investing Activities $778.0K -$66.89M
YoY Change -101.94%
Cash From Investing Activities $676.0K -$67.92M
YoY Change -101.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -152.0K -569.0K
YoY Change -100.26%
NET CHANGE
Cash From Operating Activities -27.49M -24.18M
Cash From Investing Activities 676.0K -67.92M
Cash From Financing Activities -152.0K -569.0K
Net Change In Cash -26.97M -92.66M
YoY Change 82.68%
FREE CASH FLOW
Cash From Operating Activities -$27.49M -$24.18M
Capital Expenditures $102.0K $1.028M
Free Cash Flow -$27.59M -$25.20M
YoY Change -19.17%

Facts In Submission

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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-275000
kytx Increase Decrease In Other Accrued Expenses And Current Liabilities
IncreaseDecreaseInOtherAccruedExpensesAndCurrentLiabilities
2621000
kytx Increase Decrease In Other Accrued Expenses And Current Liabilities
IncreaseDecreaseInOtherAccruedExpensesAndCurrentLiabilities
263000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1131000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-775000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-49700000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22715000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
225229000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
36000000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
13683000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1571000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-190800000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
13652000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
341171000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
25059000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
137000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
60000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
467000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
357000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3361000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
337480000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24762000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
96980000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15699000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35212000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38289000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
132192000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53988000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
131618000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53430000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
574000
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
558000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
132192000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53988000
kytx Conversion Of Redeemable Convertible Preferred Stock Into Common Stock On Completion Of Initial Public Offering Shares
ConversionOfRedeemableConvertiblePreferredStockIntoCommonStockOnCompletionOfInitialPublicOfferingShares
114556997
kytx Conversion Of Redeemable Convertible Preferred Stock Into Common Stock On Completion Of Initial Public Offering Amount Converted
ConversionOfRedeemableConvertiblePreferredStockIntoCommonStockOnCompletionOfInitialPublicOfferingAmountConverted
180574000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23000
kytx Non Cash Vesting Of Restricted Stock
NonCashVestingOfRestrictedStock
6000
kytx Non Cash Vesting Of Restricted Stock
NonCashVestingOfRestrictedStock
35000
kytx Right Of Use Asset Obtained In Exchange For Operating And Finance Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingAndFinanceLeaseLiability
2518000
kytx Right Of Use Asset Obtained In Exchange For Operating And Finance Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingAndFinanceLeaseLiability
744000
us-gaap Interest Paid Net
InterestPaidNet
82000
us-gaap Interest Paid Net
InterestPaidNet
90000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2018-06-14
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On January 30, 2024, the Company’s shareholders approved and the Company effected a reverse stock split of the shares of common stock at a ratio of 1-for-4.5511 (the “Reverse Stock Split”). The number of authorized shares and par value per share were not adjusted as a result of the Reverse Stock Split. All references to shares, restricted stock awards, restricted stock units and options to purchase common stock, share data, per share data, and related information contained in the financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. The conversion ratios for each series of the Company’s redeemable convertible preferred stock, which was automatically converted into shares of common stock upon the closing of the IPO, were proportionally adjusted.
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-191500000
us-gaap Net Income Loss
NetIncomeLoss
-55500000
us-gaap Net Income Loss
NetIncomeLoss
-24200000
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
346200000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to research and development accrued expenses, valuation of its common stock prior to the IPO, stock-based compensation, valuation of deferred tax assets and uncertain income tax positions. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amount reported as revenue and expenses that are not readily apparent from other sources. Actual results may differ materially from those estimates.</span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
214656000
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
38000
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
214619000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
22892000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
22896000
kytx Impairment Loss On Debt Securities Available For Sale
ImpairmentLossOnDebtSecuritiesAvailableForSale
0
kytx Impairment Loss On Debt Securities Available For Sale
ImpairmentLossOnDebtSecuritiesAvailableForSale
0
CY2023Q2 kytx Impairment Loss On Debt Securities Available For Sale
ImpairmentLossOnDebtSecuritiesAvailableForSale
0
CY2024Q2 kytx Impairment Loss On Debt Securities Available For Sale
ImpairmentLossOnDebtSecuritiesAvailableForSale
0
CY2024Q2 us-gaap Interest Receivable Noncurrent
InterestReceivableNoncurrent
100000
CY2023Q4 us-gaap Interest Receivable Noncurrent
InterestReceivableNoncurrent
0
CY2023Q2 us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0
CY2024Q2 us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0
us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0
us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6391000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4814000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3025000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2488000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3366000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2326000
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
500000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
400000
kytx Milestone Payments Achieved Or Probable
MilestonePaymentsAchievedOrProbable
0
CY2023 kytx Milestone Payments Achieved Or Probable
MilestonePaymentsAchievedOrProbable
0
CY2024Q2 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
0
CY2023Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
0
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
As of June 30, 2024, the Company leased 68,153 square feet of office and laboratory space in Emeryville, California under operating leases which have terms through February 2027.
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
854000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
606000
us-gaap Operating Lease Cost
OperatingLeaseCost
1543000
us-gaap Operating Lease Cost
OperatingLeaseCost
1215000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
237000
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
201000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
475000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
386000
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
38000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
47000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
82000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
90000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
262000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
246000
us-gaap Variable Lease Cost
VariableLeaseCost
553000
us-gaap Variable Lease Cost
VariableLeaseCost
484000
CY2024Q2 us-gaap Lease Cost
LeaseCost
1391000
CY2023Q2 us-gaap Lease Cost
LeaseCost
1100000
us-gaap Lease Cost
LeaseCost
2653000
us-gaap Lease Cost
LeaseCost
2176000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
809000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
602000
us-gaap Operating Lease Payments
OperatingLeasePayments
1433000
us-gaap Operating Lease Payments
OperatingLeasePayments
1167000
CY2024Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
40000
CY2023Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
47000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
82000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
90000
CY2024Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
245000
CY2023Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
187000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
467000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
357000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2518000
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
386000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
744000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1620000
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
548000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3563000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
828000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4046000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
147000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
446000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9675000
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1523000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1086000
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
113000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8589000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1410000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2867000
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1003000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5722000
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
407000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.11
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.08
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.11
CY2024Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
25171265
CY2024Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8443325
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
29619628
CY2022Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
349321
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1100000
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0427
CY2022Q4 kytx Debt Instrument Maturity Month Year
DebtInstrumentMaturityMonthYear
2027-12
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
1100000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4310034
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.09
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y1M2D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11810000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
374031
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
19.14
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
399805
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
114296
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.17
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4169964
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M4D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12632000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1767732
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.52
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y11M8D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7043000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4169964
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
5.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y8M4D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
12632000
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
349321
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1002643
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.22
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.89
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.46
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3500000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000
CY2024Q2 kytx Repurchase Liability Related To Unvested Shares
RepurchaseLiabilityRelatedToUnvestedShares
0
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8125
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
349321
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1284000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
446000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3562000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
915000
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
15300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-28803000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-13091000
us-gaap Net Income Loss
NetIncomeLoss
-55496000
us-gaap Net Income Loss
NetIncomeLoss
-24234000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43125709
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43125709
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
627589
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
627589
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33439886
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33439886
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
599917
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
599917
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.86
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-20.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-40.4
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-40.4
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4174964
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23766975
CY2024Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0

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