- 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.