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Benzinga
Benzinga
Technology
Vandana Singh

Why Are Karyopharm Shares Trading Lower Today

Karyopharm KPTI

Karyopharm Therapeutics Inc (NASDAQ:KPTI) stock plunged after an update on its supplemental New Drug Application submission based on the Phase 3 SIENDO study data of selinexor as front-line maintenance therapy following chemotherapy in advanced or recurrent endometrial cancer.

  • The cmpany received feedback that the current SIENDO study topline results would not support an sNDA approval. 
  • Karyopharm and the FDA participants had differing views on the study significance and overall clinical benefit for the whole population.
  • They discussed further exploring patients with advanced or recurrent endometrial cancer with p53 wild-type is warranted. 
  • Related: Karyopharm Shares Fall After Selinexor Data In Endometrial Cancer Patients.
  • The company will continue collecting and analyzing the SIENDO study data.
  • In addition, Karyopharm plans to initiate a new study of selinexor in patients with p53 wild-type endometrial cancer and believes topline data will be available in 1H of 2024. 
  • SVB Leerink maintains Market Perform on Karyopharm Therapeutics, but it lowered the price target to $6 from $8.
  • Price Action: KPTI shares traded 27.3% lower at $7.55 in pre-market on the last check Wednesday.
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