Affinity discloses 8.6% Karyopharm (KPTI) stake using stock and warrants

Rhea-AI Filing Summary

Affinity Asset Advisors, LLC and Michael Cho report beneficial ownership of 1,713,092 shares of Karyopharm Therapeutics Inc. common stock, representing 8.6% of the outstanding class as of January 22, 2026. This total includes 1,573,517 shares issuable upon exercise of warrants.

The warrants are subject to a 9.99% beneficial ownership limitation, which caps how many shares can be acquired through exercise relative to Karyopharm’s outstanding stock. The ownership percentages are calculated using 19,883,800 shares of common stock, combining currently outstanding shares and the warrant shares counted for this filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Karyopharm Therapeutics Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

48576U205

(CUSIP Number)

01/22/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 48576U205

1

Names of Reporting Persons

Affinity Asset Advisors, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,713,092.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,713,092.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,713,092.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 48576U205

1

Names of Reporting Persons

Michael Cho

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,713,092.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,713,092.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,713,092.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Karyopharm Therapeutics Inc.
(b)	Address of issuer's principal executive offices: 85 Wells Avenue, 2nd Floor, Newton, Massachusetts, 02459
Item 2.
(a)	Name of person filing: Affinity Asset Advisors, LLC Michael Cho
(b)	Address or principal business office or, if none, residence: 450 Park Avenue Suite 1403 New York, NY 10022
(c)	Citizenship: Affinity Asset Advisors, LLC is a Delaware limited liability company, and Michael Cho is an individual and is a citizen of the United States.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 48576U205
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The securities reported herein are directly held by Affinity Healthcare Fund, LP (the "Fund"). Affinity Asset Advisors, LLC (the "Adviser") is the investment manager of the Fund and exercises voting and investment power over the securities held directly by the Fund reported herein pursuant to an investment management agreement between the Adviser, the Fund, and the general partner of the Fund. The Adviser may be deemed to beneficially own the securities reported herein held by the Fund by virtue of its position as investment manager of the Fund. Michael Cho, the managing member of the Adviser, may be deemed a beneficial owner of the securities reported herein held by the Fund. As of the date hereof, the Adviser and Mr. Cho (collectively, the "Reporting Persons") beneficially own 1,713,092 shares of Common Stock, $0.0001 par value per share ("Common Stock"), of Karyopharm Therapeutics Inc. (the "Issuer"), which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants (the "Warrants"). The Warrants are all subject to a beneficial ownership limitation of 9.99% of the number of shares of Common Stock of the Issuer outstanding immediately after giving effect to the issuance of the shares issuable upon exercise of the Warrants (the "Beneficial Ownership Limitation"). As of December 31, 2025, the Fund and the Adviser beneficially owned 1,932,373 shares of Common Stock, which amount includes 1,032,798 shares of Common Stock issuable upon the exercise of Warrants after giving effect to the Beneficial Ownership Limitation.
(b)	Percent of class: As of the date hereof, the Reporting Persons beneficially own 8.6% of the Common Stock outstanding. As of December 31, 2025, the Fund and the Adviser beneficially owned 9.99% of the Common Stock outstanding. The percentages disclosed above are based on 19,883,800 shares of Common Stock of the Issuer outstanding as of December 29, 2025, consisting of (a) the 18,310,283 shares of Common Stock of the Issuer outstanding as of December 29, 2025, as set forth in the Issuer's Definitive Proxy Statement filed with the Securities and Exchange Commission on January 8, 2026, and (b) 1,573,517 shares of Common Stock issuable upon the exercise of Warrants held by the Fund. The Warrants were limited in their exercise to 1,032,798 shares of Common Stock as of December 31, 2025, after giving effect to the Beneficial Ownership Limitation.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: As of the date hereof, the Reporting Persons have sole power to vote or to direct the vote of 1,713,092 shares of Common Stock, which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation. As of December 31, 2025, the Fund and the Adviser had sole power to vote or to direct the vote of 0 shares of Common Stock.
	(ii) Shared power to vote or to direct the vote: As of the date hereof, the Reporting Persons have shared power to vote or to direct the vote of 0 shares of Common Stock. As of December 31, 2025, the Fund and the Adviser had shared power to vote or to direct the vote of 1,932,373 shares of Common Stock, which amount includes 1,032,798 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation.
	(iii) Sole power to dispose or to direct the disposition of: As of the date hereof, the Reporting Persons have sole power to dispose or to direct the disposition of 1,713,092 shares of Common Stock, which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation. As of December 31, 2025, the Fund and the Adviser had sole power to dispose or to direct the disposition of 0 shares of Common Stock.
	(iv) Shared power to dispose or to direct the disposition of: As of the date hereof, the Reporting Persons have shared power to dispose or to direct the disposition of 0 shares of Common Stock. As of December 31, 2025, the Fund and the Adviser had shared power to dispose or to direct the disposition of 1,932,373 shares of Common Stock, which amount includes 1,032,798 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Affinity Asset Advisors, LLC

Signature:	/s/ Andrew Weinstein
Name/Title:	Andrew Weinstein, Chief Financial Officer and Chief Compliance Officer
Date:	01/29/2026

Michael Cho

Signature:	/s/ Michael Cho
Name/Title:	Michael Cho, Self
Date:	01/29/2026

FAQ

What stake in Karyopharm Therapeutics Inc. (KPTI) is reported in this Schedule 13G/A?

The filing reports beneficial ownership of 1,713,092 shares of Karyopharm Therapeutics common stock, representing 8.6% of the class. This figure combines currently held shares and shares issuable upon exercise of warrants, based on 19,883,800 shares outstanding.

Who are the reporting persons in the Karyopharm (KPTI) Schedule 13G/A filing?

The reporting persons are Affinity Asset Advisors, LLC and Michael Cho. Affinity Asset Advisors acts as investment manager to Affinity Healthcare Fund, LP, while Michael Cho is the managing member of the adviser and may be deemed a beneficial owner.

How many Karyopharm (KPTI) shares are tied to warrants in this ownership filing?

Out of the 1,713,092 beneficially owned shares, 1,573,517 shares are issuable upon the exercise of warrants. These warrant shares are counted in the reported stake, subject to a 9.99% beneficial ownership limitation on post-exercise ownership.

What is the 9.99% beneficial ownership limitation mentioned for Karyopharm (KPTI)?

The warrants are subject to a 9.99% Beneficial Ownership Limitation, meaning they cannot be exercised to the extent exercise would cause ownership to exceed 9.99% of Karyopharm’s outstanding common stock immediately after issuance of the warrant shares.

On what share count is the 8.6% Karyopharm (KPTI) ownership based in this filing?

The reported 8.6% ownership is based on 19,883,800 shares of Karyopharm common stock. This consists of 18,310,283 shares outstanding as of December 29, 2025, plus 1,573,517 shares of common stock issuable upon exercise of warrants held by the fund.

How did the reporting persons’ Karyopharm (KPTI) ownership compare as of December 31, 2025?

As of December 31, 2025, the fund and adviser beneficially owned 1,932,373 shares, or 9.99% of Karyopharm’s common stock. That earlier figure included 1,032,798 shares issuable upon warrant exercise, after applying the 9.99% Beneficial Ownership Limitation.