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Karyopharm Therapeutics Inc. reports developments tied to its commercial oncology business and selinexor-based drug development. The company markets XPOVIO (selinexor) and reports U.S. product revenue, license and other revenue, liquidity, and operating updates alongside its periodic financial results.
Recurring KPTI news also covers late-stage clinical programs evaluating selinexor in cancer indications, including the Phase 3 SENTRY trial in myelofibrosis and the Phase 3 XPORT-EC-042 trial in endometrial cancer. Company updates include clinical data presentations, regulatory-development disclosures, equity inducement grants under Nasdaq rules, financing activity, and other corporate and capital-structure matters.
Karyopharm Therapeutics (Nasdaq: KPTI) and Menarini Group announced a positive recommendation from the EMA’s CHMP for NEXPOVIO® (selinexor) in combination with bortezomib and low-dose dexamethasone for treating adult multiple myeloma patients with one to three prior therapies. This recommendation precedes a final decision from the European Commission, expected in about 60 days. The application is supported by Phase 3 BOSTON study data, showing significant improvements in progression-free survival and overall response rates compared to standard therapy.
Karyopharm Therapeutics (NASDAQ: KPTI) announced that initial data from a Phase 1 study of selinexor combined with ruxolitinib in treatment-naïve myelofibrosis patients will be presented at the EHA 2022 Congress in Vienna and the ASCO Annual Meeting. The need for innovative treatments for myelofibrosis is emphasized as current therapies are limited to JAK inhibitors. The presentation highlights the potential of selinexor in improving patient outcomes, including spleen size reduction and quality of life. Further data updates will follow at both conferences.
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) announced participation in the 2022 RBC Capital Markets Global Healthcare Conference on May 17, 2022, at 4:35 p.m. ET in New York, NY. The company's senior management will engage in a fireside chat, with a live webcast available in the Investor section of their website. Karyopharm is noted for pioneering novel cancer therapies, including their lead SINE compound, XPOVIO®, which is approved in several oncology indications. The event will be available for replay for 90 days.
Karyopharm Therapeutics reported a strong first quarter for 2022 with net revenues of $47.7 million, a growth of 105% compared to Q1 2021. The net product revenue from XPOVIO reached $28.3 million, marking a 30% year-over-year increase. The company announced promising clinical results for selinexor in endometrial cancer and myelofibrosis, with plans for a registration-enabling study in the second half of 2022. However, Karyopharm reported a net loss of $41.4 million, but this was an improvement from a loss of $57.4 million in the prior year.
Karyopharm Therapeutics (Nasdaq: KPTI) announced the granting of stock options and restricted stock units (RSUs) to newly-hired employees and Dr. Reshma Rangwala, the new Chief Medical Officer. Dr. Rangwala received options for 100,000 shares and 65,000 RSUs, while twelve other employees received a total of 36,800 stock options and 25,400 RSUs. All awards are part of the 2022 Inducement Stock Incentive Plan and have a four-year vesting schedule. Each stock option has an exercise price of $6.10, based on the closing stock price on April 29, 2022.
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) has announced that it will report its first quarter 2022 financial results on May 5, 2022, at 8:30 a.m. ET. The company's management will host a conference call to discuss the results and company updates. Karyopharm is recognized for its pioneering work in cancer therapies, particularly with its lead compound, XPOVIO® (selinexor), which is approved in the U.S. for multiple oncology indications. The company continues to expand its presence in international markets, including Europe and Asia.
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) has announced that four abstracts related to selinexor clinical research will be presented at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago from June 3-7, 2022. Key presentations include an oral study on selinexor's effects in endometrial cancer and a poster discussion on its combination with ruxolitinib for myelofibrosis. This highlights Karyopharm's commitment to innovative treatments in oncology, focusing on cancers with significant unmet needs.
Karyopharm Therapeutics (Nasdaq: KPTI) announced participation in a fireside chat at the Canaccord Genuity Horizons in Oncology Conference, scheduled for April 14, 2022, at 9:30 a.m. ET. The virtual conference will include a live webcast accessible on Karyopharm's investor website, which will be available for replay for 90 days post-event. Karyopharm is recognized for its pioneering work in oral Selective Inhibitor of Nuclear Export (SINE) compound technology, with its lead product, XPOVIO® (selinexor), approved in multiple cancer indications.
Karyopharm Therapeutics (Nasdaq: KPTI) announced the approval of stock options for 58,600 shares and 36,900 restricted stock units (RSUs) to six newly-hired employees. These equity awards, granted on March 31, 2022, are part of the 2022 Inducement Stock Incentive Plan. Each stock option has an exercise price of $7.37 per share and will vest over four years. RSUs will also vest over four years, with a 25% vesting at each anniversary. These awards serve as inducements for new employees in line with Nasdaq Listing Rule 5635(c)(4).
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) has appointed Dr. Reshma Rangwala as Chief Medical Officer, effective mid-April 2022. Dr. Rangwala brings over a decade of oncology experience, previously serving as CMO at Aravive and holding significant roles at Genmab and Merck. The company also announced the departure of co-founders Dr. Sharon Shacham and Dr. Michael Kauffman on May 31, 2022, although Dr. Shacham will remain on the Scientific Advisory Board. Karyopharm aims to accelerate its clinical development programs for its key therapeutic assets, XPOVIO and eltanexor.