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Karyopharm sells selinexor royalties for up to $150M; shares up 3% premarket

Sep. 16, 2019 8:05 AM ETKaryopharm Therapeutics Inc. (KPTI) StockKPTIBy: Douglas W. House, SA News Editor
  • Karyopharm Therapeutics (NASDAQ:KPTI) inks an agreement with HealthCare Royalty Partners (HCR) to sell XPOVIO (selinexor) royalties for $75M upfront plus another $75M contingent on the the achievement of certain regulatory and commercial milestones.
  • In exchange, HCR will receive a tiered mid-single-digit royalty on global sales of XPOVIO and any future products.
  • Karyopharm believes that the $75M payment, in addition its current level of quick assets, should be sufficient to fund operations into mid-2021.
  • The FDA approved XPOVIO in July for adults with relapsed/refractory multiple myeloma (MM) who have received at least four prior lines of treatment. Its application in Europe is currently under review with a decision expected in Q1 2020. It is in late-stage development for MM patients who have had one-to-three prior lines of therapy and patients with relapsed/refractory diffuse large B-cell lymphoma.
  • Shares up 3% premarket.

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