Re: "IMO, Karyopharm Therapeutics is a screaming deal at $8.65/share."That was just about one year ago, July 19, 2019. KPTI is currently $19.24 (up 8% today) and remains undervalued, imo.
July 14, 2020
Karyopharm Announces Preliminary Unaudited Second Quarter Product Sales for XPOVIO® (selinexor)
by finance.yahoo.com
-- Preliminary Unaudited XPOVIO Net Product Sales of Approximately $18.5 Million for the Second Quarter 2020 --
-- Strongest Quarterly XPOVIO Sales Since July 2019 Commercial Launch --
NEWTON, Mass., July 14, 2020 (GLOBE NEWSWIRE) -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), an innovation-driven pharmaceutical company, today announced preliminary unaudited second quarter 2020 net product sales for XPOVIO® (selinexor), the Company’s first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound, and provided additional updates on XPOVIO’s commercial results.
Oral XPOVIO tablets became commercially available to patients with relapsed or refractory multiple myeloma in the U.S. in July 2019. Based on preliminary unaudited financial information, Karyopharm expects net product sales of XPOVIO to be approximately $18.5 million during the second quarter 2020 representing an approximate 15% increase in net product sales compared to the first quarter of 2020. Despite COVID-19-related operational challenges, which included the diversion of physician and other healthcare resources to manage the ongoing COVID-19 pandemic and the significant reduction in Karyopharm’s field force in-person activities, XPOVIO sales grew as a result of an increasing demand from both academic and community-based physicians. Additionally, prescription refill rates, as well as the average number of prescriptions per patient, continued to grow during the quarter, further reinforcing the positive experience that Karyopharm believes many patients are having with XPOVIO treatment.
“While no company is immune to the challenges of the ongoing global COVID-19 pandemic, we are very pleased to see demand for XPOVIO increase during this most recent quarter,” said Michael G. Kauffman, MD, PhD, Chief Executive Officer of Karyopharm. “In addition to encouraging preliminary second quarter sales, we are excited by the recent U.S. Food and Drug Administration’s accelerated approval of XPOVIO for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma, as well as the recently presented positive results from the Phase 3 BOSTON study in patients with multiple myeloma following one to three prior lines of therapy. We are proud to be making such an important impact for patients battling relapsed or refractory disease and look forward to providing the investment community with additional details of our recent achievements when we report our unaudited financial results for the second quarter in early August 2020.”
The financial information presented in this press release may be adjusted as a result of the completion of the customary quarterly review process, and the Company’s actual financial results may differ from the preliminary estimated financial information set forth above. As there remains significant uncertainty surrounding the overall market implications driven by the ongoing COVID-19 pandemic, Karyopharm is announcing preliminary unaudited sales results for the second quarter 2020 to increase transparency to the investment community during these unique times. Additionally, Karyopharm does not expect to regularly announce preliminary unaudited sales information in each subsequent quarter.
About XPOVIO® (selinexor)
XPOVIO is a first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound. XPOVIO functions by selectively binding to and inhibiting the nuclear export protein exportin 1 (XPO1, also called CRM1). XPOVIO blocks the nuclear export of tumor suppressor, growth regulatory and anti-inflammatory proteins, leading to accumulation of these proteins in the nucleus and enhancing their anti-cancer activity in the cell. The forced nuclear retention of these proteins can counteract a multitude of the oncogenic pathways that, unchecked, allow cancer cells with severe DNA damage to continue to grow and divide in an unrestrained fashion. Karyopharm received accelerated U.S. Food and Drug Administration (FDA) approval of XPOVIO in July 2019 in combination with dexamethasone for the treatment of adult patients with relapsed refractory multiple myeloma (RRMM) who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti-CD38 monoclonal antibody. Karyopharm has also submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) with a request for conditional approval of selinexor in this same RRMM indication. Karyopharm submitted a supplemental New Drug Application (sNDA) to the FDA requesting an expansion of its current indication to include the treatment for patients with multiple myeloma after at least one prior line of therapy based on the positive results from the Phase 3 BOSTON study which evaluated selinexor in combination with Velcade® (bortezomib) and low-dose dexamethasone. In June 2020, Karyopharm received accelerated FDA approval of XPOVIO for its second indication in adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), not otherwise specified, including DLBCL arising from follicular lymphoma, after at least 2 lines of systemic therapy. Selinexor is also being evaluated in several other mid-and later-phase clinical trials across multiple cancer indications, including as a potential backbone therapy in combination with approved myeloma therapies (STOMP), in liposarcoma (SEAL) and in endometrial cancer (SIENDO), among others. Additional Phase 1, Phase 2 and Phase 3 studies are ongoing or currently planned, including multiple studies in combination with approved therapies in a variety of tumor types to further inform Karyopharm’s clinical development priorities for selinexor. Additional clinical trial information for selinexor is available at www.clinicaltrials.gov.
http://finance.yahoo.com/news/karyopharm-announces-preliminary-unaudited-second-110000439.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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