– Total Revenue of
$146 Million and U.S. XPOVIO®
(selinexor) Net Product Revenue of $112
Million for Full Year 2023, Meeting Company's Guidance
–
– Top-Line Data Readouts from Three Pivotal
Phase 3 Trials Evaluating Selinexor in Endometrial Cancer,
Myelofibrosis and Multiple Myeloma Expected in 2025 –
– Company Provides Full-Year 2024
Total Revenue Guidance of $140
Million to $160 Million,
Including U.S. XPOVIO Net Product Revenue Guidance of $100 Million to $120
Million; Cash Runway to Late 2025 –
– Conference Call
Scheduled for Today at 8:00 a.m. ET
—
NEWTON,
Mass., Feb. 29, 2024 /PRNewswire/ -- Karyopharm
Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical
company pioneering novel cancer therapies, today reported financial
results for the fourth quarter and full year ended December 31, 2023. In addition, Karyopharm
highlighted select corporate milestones and provided an overview of
its key clinical development programs.
"We made significant progress in 2023 across our clinical
pipeline and continued to build on our foundation in the highly
competitive multiple myeloma space. The encouraging clinical
results that we presented last year reinforce the potential of our
three ongoing pivotal Phase 3 trials in addressing critical unmet
needs of cancer patients," said Richard Paulson, President and Chief Executive
Officer of Karyopharm. "Our drive for innovation and progress will
continue into 2024, by focusing our resources to advance our Phase
3 trials. We are enthusiastic about the upcoming top-line read-outs
from these trials and what they could mean for patients and
selinexor's growth potential."
Fourth Quarter 2023 and Recent Highlights
Research and Development (R&D)
Highlights
- Long-term exploratory analysis of the pre-specified subgroup of
patients with advanced or recurrent TP53 wild-type
endometrial cancer (EC) from the Phase 3 SIENDO trial (NCT03555422)
was presented at the International Gynecological Cancer Society
Annual Global Meeting in Seoul, South
Korea, with updated progression-free survival (PFS). As of
the September 1, 2023 data cut-off
date, median PFS was 27.4 months in the selinexor treatment arm
(n=77) as compared to 5.2 months (n=36) in the placebo arm.
Immature overall survival data showed an encouraging signal and
corroborated the PFS results.
- Oral presentation at the 65th American Society of
Hematology 2023 Annual Meeting of the updated results from the
Phase 1 trial (XPORT-MF-034) evaluating selinexor in combination
with ruxolitinib in patients with treatment-naïve myelofibrosis
(MF) showed encouraging long-term durability. 79% of
intent-to-treat (ITT) patients (11 out of 14) treated with 60mg
selinexor achieved ≥35% reduction in spleen volume (SVR35) at week
24, and continued to remain in radiographic response as of the
August 1, 2023 data cut-off date. In
addition, 58% of the ITT patients (7 out of 12) who achieved
symptom improvement of ≥ 50% (TSS50) at week 24 also remained in
response as of the data cut-off. In general, early cytokine
reduction at week 4 was associated with spleen volume reduction at
week 24, was sustained until the end of treatment, and is a
potential sign of disease modification.
- Clinical trial collaboration agreement executed with Bristol
Myers Squibb (BMS) to evaluate selinexor in combination with BMS'
proprietary investigational cereblon E3 ligase modulator (CELMoD™)
agent mezigdomide in patients with relapsed/refractory multiple
myeloma (MM) progressing after T-cell immunotherapies, potentially
adding to the growing body of evidence that selinexor has the
potential to show meaningful benefit in combination with MM
therapies with differing mechanisms of action; the study of
selinexor/mezigdomide enables further evaluation of selinexor's
role in maintaining an optimal T-cell environment.
XPOVIO Commercial Performance
- Achieved U.S. net product revenue for the year ended
December 31, 2023 of $112 million, compared to $120 million for the year ended December 31, 2022. U.S. net product revenue for
the fourth quarter of 2023 was $25
million, compared to $31
million for the fourth quarter of 2022. Although demand for
XPOVIO continued its growth in the community setting in 2023, it
was adversely impacted in the academic setting due to increased
competition in the later-lines.
- Continued progress in shifting selinexor use into earlier lines
of therapy, with patient mix approaching 70% in the second to
fourth lines in 2023 versus 55% in 20221.
- XPOVIO net product revenue was adversely impacted
year-over-year by increased utilization of the KaryForward Patient
Assistance Program (PAP), due to MM foundation
closures2, contributing to ~10% of total demand in 2023
as compared to ~5% in 2022, leading to an estimated impact of
~$6 million. Additionally, increased
competition and higher gross-to-net, driven by increased
340B discounts and Medicaid rebates
during the year, adversely impacted XPOVIO net product revenue in
2023.
Intellectual Property
- The U.S. Patent and Trademark Office issued patents directed
toward the polymorphic form of selinexor present in XPOVIO,
pharmaceutical compositions comprising the polymorphic form and
methods of treatment using the polymorphic form and the
pharmaceutical compositions. The newly issued patents will expire
in August 2035.
Anticipated Catalysts and Operational Objectives in 2024 and
2025
- Present updated exploratory subgroup analysis results in
patients with TP53 wild-type EC from the Phase 3 SIENDO
trial in 2024.
- Complete enrollment in pivotal XPORT-EC-042 Phase 3 trial in
TP53 wild-type EC in 2H 2024 and report top-line results in
1H 2025.
- Report updated results from the Phase 1 trial of selinexor in
combination with ruxolitinib in patients with treatment-naïve MF in
2024.
- Report preliminary results from the Phase 2 trial evaluating
the efficacy and safety of selinexor monotherapy in subjects with
JAK inhibitor-naïve MF and moderate thrombocytopenia in 2H
2024.
- Report top-line results from pivotal Phase 3 trial of selinexor
in combination with ruxolitinib in treatment-naïve MF in 2H
2025.
- Publish and present efficacy and safety data on selinexor 40mg
in combination with pomalidomide and dexamethasone from ongoing
STOMP/028 Phase 2 trials in patients with MM in 2024.
- Report additional data on selinexor's impact on T-cell fitness
and potential combinability with multiple agents pre- or
post-T-cell therapy in patients with MM in 2024.
- Complete enrollment in pivotal Phase 3 trial evaluating an oral
combination of 40mg selinexor, pomalidomide and dexamethasone in
patients with previously treated MM in 2H 2024 and report top-line
results in 1H 2025.
- Maintain the Company's commercial foundation in the competitive
MM marketplace, driving increased XPOVIO revenues.
- Continue global launches and reimbursement approvals for
selinexor by partners in ex-U.S. territories.
2024 Financial Outlook
Based on its current operating plans, Karyopharm expects the
following for full year 2024:
- Total revenue to be in the range of $140
million to $160 million. Total
revenue consists of U.S. XPOVIO net product revenue and license,
royalty and milestone revenue earned from partners.
- U.S. XPOVIO net product revenue to be in the range of
$100 million to $120 million.
- R&D and SG&A expenses to be in the range of
$260 million to $280 million, which includes approximately
$20 million to $25 million of estimated non-cash stock-based
compensation expense.
- The Company expects that its existing cash, cash equivalents
and investments, and the revenue it expects to generate from XPOVIO
net product sales, as well as revenue generated from its license
agreements, will be sufficient to fund its planned operations into
late 2025.
Full Year and Fourth Quarter 2023 Financial Results
Total revenue: Total revenue for the fourth quarter of
2023 was $33.7 million, compared to
$33.6 million for the fourth quarter
of 2022. Total revenue for the year ended December 31, 2023 was $146.0 million, compared to $157.1 million for the year ended December 31, 2022.
Net product revenue: Net product revenue for the
fourth quarter of 2023 was $25.1
million, compared to $31.1
million for the fourth quarter of 2022. Net product revenue
for the year ended December 31, 2023
was $112.0 million, compared to
$120.4 million for the year ended
December 31, 2022.
License and other revenue: License and other revenue for
the fourth quarter of 2023 was $8.7
million, compared to $2.5
million for the fourth quarter of 2022. License and other
revenue for the year ended December 31,
2023 was $34.0 million,
compared to $36.6 million for the
year ended December 31, 2022.
Cost of sales: Cost of sales for the fourth quarter
of 2023 was $1.5 million, compared to
$1.9 million for the fourth quarter
of 2022. Cost of sales for the year ended December 31, 2023 was $4.9
million, compared to $5.2
million for the year ended December
31, 2022. Cost of sales reflects the costs of XPOVIO units
sold and third-party royalties on net product revenue.
R&D expenses: R&D expenses for the fourth
quarter of 2023 were $39.4 million,
compared to $30.9 million for the
fourth quarter of 2022. R&D expenses for the year ended
December 31, 2023 were $138.8 million, compared to $148.7 million for the year ended December 31, 2022. The decrease in R&D
expenses in 2023 compared to 2022 was primarily due to a decrease
in personnel costs and stock-based compensation attributable to a
reduction in headcount and contractors, including severance-related
expenses incurred in 2022. These decreases were partially offset by
an increase in clinical trial and related costs primarily due to
the advancement of the Company's three pivotal Phase 3 trials and
the timing of purchases of comparator drug used in the Company's
clinical trials.
SG&A expenses: SG&A expenses for the fourth
quarter of 2023 were $30.7 million,
compared to $34.6 million for the
fourth quarter of 2022. SG&A expenses for the year ended
December 31, 2023 were $131.9 million, compared to $145.4 million for the year ended December 31, 2022. The decrease in SG&A
expenses in 2023 compared to 2022 was primarily due to a decrease
in stock-based compensation because of severance-related expenses
incurred in 2022.
Interest expense: Interest expense for the fourth
quarter of 2023 was $6.2 million,
compared to $5.9 million for the
fourth quarter of 2022. Interest expense for the year ended
December 31, 2023 was $23.8 million, compared to $25.0 million for the year ended December 31, 2022.
Net loss: Karyopharm reported a net loss of
$41.8 million, or $0.36 per basic and diluted share, for the fourth
quarter of 2023, compared to a net loss of $38.5 million, or $0.43 per basic and diluted share, for the fourth
quarter of 2022. Net loss includes non-cash stock-based
compensation expense of $5.2 million
and $6.2 million for the fourth
quarters of 2023 and 2022, respectively. Karyopharm reported a net
loss of $143.1 million, or
$1.25 per basic and diluted share,
for the year ended December 31, 2023,
compared to a net loss of $165.3
million, or $2.02 per basic
and diluted share, for the year ended December 31, 2022. Net loss includes non-cash
stock-based compensation expense of $21.7
million and $35.4 million for
the years ended December 31, 2023 and
2022, respectively.
Cash position: Cash, cash equivalents, restricted cash
and investments as of December 31,
2023 totaled $192.4 million,
compared to $279.7 million as of
December 31, 2022.
Conference Call Information
Karyopharm will host a conference call today, February 29, 2024, at 8:00
a.m. Eastern Time, to discuss the fourth quarter and full
year 2023 financial results and the financial outlook for 2024 and
to provide other business updates. To access the conference call,
please dial (800) 836-8184 (local) or (646) 357-8785
(international) at least 10 minutes prior to the start time and ask
to be joined into the Karyopharm Therapeutics call. A live audio
webcast of the call, along with accompanying slides, will be
available under "Events & Presentations" in the Investor
section of the Company's website. An archived webcast will be
available on the Company's website approximately two hours after
the event.
About XPOVIO® (selinexor)
XPOVIO is a first-in-class, oral exportin 1 (XPO1) inhibitor and
the first of Karyopharm's Selective Inhibitor of Nuclear Export
(SINE) compounds to be approved for the treatment of cancer. XPOVIO
functions by selectively binding to and inhibiting the nuclear
export protein XPO1. XPOVIO is approved in the U.S. and marketed by
Karyopharm in multiple oncology indications, including: (i) in
combination with Velcade® (bortezomib) and dexamethasone (XVd) in
patients with multiple myeloma after at least one prior therapy;
(ii) in combination with dexamethasone in patients with heavily
pre-treated multiple myeloma; and (iii) in patients with diffuse
large B-cell lymphoma (DLBCL), including DLBCL arising from
follicular lymphoma, after at least two lines of systemic therapy.
XPOVIO (also known as NEXPOVIO® in certain countries) has received
regulatory approvals in a growing number of ex-U.S. territories and
countries, including Europe, the
United Kingdom, South Korea, Israel, Singapore, Hong
Kong, Mainland China, Australia, Canada, Taiwan and Macau and is marketed in those areas by
Karyopharm's global partners. Selinexor is also being investigated
in several other mid- and late-stage clinical trials across
multiple high unmet need cancer indications, including in
endometrial cancer and myelofibrosis.
For more information about Karyopharm's products or clinical
trials, please contact the Medical Information department at:
Tel: +1 (888) 209-9326,
Email: medicalinformation@karyopharm.com
XPOVIO® (selinexor) is a prescription medicine
approved:
- In combination with bortezomib and dexamethasone for the
treatment of adult patients with multiple myeloma who have received
at least one prior therapy (XVd).
- In combination with dexamethasone for the treatment of adult
patients with relapsed or refractory multiple myeloma 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
(Xd).
- For the treatment of adult patients with relapsed or refractory
diffuse large B‐cell lymphoma (DLBCL), not otherwise specified,
including DLBCL arising from follicular lymphoma, after at least
two lines of systemic therapy. This indication is approved under
accelerated approval based on response rate. Continued approval for
this indication may be contingent upon verification and description
of clinical benefit in confirmatory trial(s).
SELECT IMPORTANT SAFETY INFORMATION
Warnings and Precautions
- Thrombocytopenia: Monitor platelet counts throughout treatment.
Manage with dose interruption and/or reduction and supportive
care.
- Neutropenia: Monitor neutrophil counts throughout treatment.
Manage with dose interruption and/or reduction and granulocyte
colony‐stimulating factors.
- Gastrointestinal Toxicity: Nausea, vomiting, diarrhea,
anorexia, and weight loss may occur. Provide antiemetic
prophylaxis. Manage with dose interruption and/or reduction,
antiemetics, and supportive care.
- Hyponatremia: Monitor serum sodium levels throughout treatment.
Correct for concurrent hyperglycemia and high serum paraprotein
levels. Manage with dose interruption, reduction, or
discontinuation, and supportive care.
- Serious Infection: Monitor for infection and treat
promptly.
- Neurological Toxicity: Advise patients to refrain from driving
and engaging in hazardous occupations or activities until
neurological toxicity resolves. Optimize hydration status and
concomitant medications to avoid dizziness or mental status
changes.
- Embryo‐Fetal Toxicity: Can cause fetal harm. Advise females of
reproductive potential and males with a female partner of
reproductive potential, of the potential risk to a fetus and use of
effective contraception.
- Cataract: Cataracts may develop or progress. Treatment of
cataracts usually requires surgical removal of the cataract.
Adverse Reactions
- The most common adverse reactions (≥20%) in patients with
multiple myeloma who receive XVd are fatigue, nausea, decreased
appetite, diarrhea, peripheral neuropathy, upper respiratory tract
infection, decreased weight, cataract and vomiting. Grade 3‐4
laboratory abnormalities (≥10%) are thrombocytopenia, lymphopenia,
hypophosphatemia, anemia, hyponatremia and neutropenia. In the
BOSTON trial, fatal adverse
reactions occurred in 6% of patients within 30 days of last
treatment. Serious adverse reactions occurred in 52% of patients.
Treatment discontinuation rate due to adverse reactions was
19%.
- The most common adverse reactions (≥20%) in patients with
multiple myeloma who receive Xd are thrombocytopenia, fatigue,
nausea, anemia, decreased appetite, decreased weight, diarrhea,
vomiting, hyponatremia, neutropenia, leukopenia, constipation,
dyspnea and upper respiratory tract infection. In the STORM trial,
fatal adverse reactions occurred in 9% of patients. Serious adverse
reactions occurred in 58% of patients. Treatment discontinuation
rate due to adverse reactions was 27%.
- The most common adverse reactions (incidence ≥20%) in patients
with DLBCL, excluding laboratory abnormalities, are fatigue,
nausea, diarrhea, appetite decrease, weight decrease, constipation,
vomiting, and pyrexia. Grade 3‐4 laboratory abnormalities (≥15%)
are thrombocytopenia, lymphopenia, neutropenia, anemia, and
hyponatremia. In the SADAL trial, fatal adverse reactions occurred
in 3.7% of patients within 30 days, and 5% of patients within 60
days of last treatment; the most frequent fatal adverse reactions
was infection (4.5% of patients). Serious adverse reactions
occurred in 46% of patients; the most frequent serious adverse
reaction was infection (21% of patients). Discontinuation due to
adverse reactions occurred in 17% of patients.
Use In Specific Populations
Lactation: Advise not to
breastfeed.
For additional product information, including full prescribing
information,
please visit www.XPOVIO.com.
To report SUSPECTED ADVERSE REACTIONS, contact Karyopharm
Therapeutics Inc. at 1‐888‐209‐9326 or FDA at 1‐800‐FDA‐1088 or
www.fda.gov/medwatch.
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a
commercial-stage pharmaceutical company pioneering novel cancer
therapies. Since its founding, Karyopharm has been an industry
leader in oral Selective Inhibitor of Nuclear Export (SINE)
compound technology, which was developed to address a fundamental
mechanism of oncogenesis: nuclear export dysregulation.
Karyopharm's lead SINE compound and first-in-class, oral
exportin 1 (XPO1) inhibitor, XPOVIO® (selinexor), is approved in
the U.S. and marketed by the Company in three oncology indications
and has received regulatory approvals in a growing number of
ex-U.S. territories and countries, including Europe, the United
Kingdom, China,
South Korea, Israel, Singapore, Hong
Kong, Mainland China, Australia, Canada, Taiwan and Macau, and is marketed in those areas by
Karyopharm's global partners. Karyopharm has a focused pipeline
targeting multiple high unmet need cancer indications, including in
multiple myeloma, endometrial cancer and myelofibrosis. For more
information about our people, science and pipeline, please visit
www.karyopharm.com, and follow us on Twitter at
@Karyopharm and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. Such forward-looking statements include those regarding
Karyopharm's guidance on its 2024 total revenue, 2024 U.S. net
product revenue and 2024 R&D and SG&A expenses;
Karyopharm's expected cash runway; expectations with respect to
commercialization efforts; the ability of selinexor to treat
patients with multiple myeloma, endometrial cancer, myelofibrosis,
diffuse large B-cell lymphoma, and other diseases; and expectations
with respect to the clinical development plans and potential
regulatory submissions of selinexor and eltanexor. Such statements
are subject to numerous important factors, risks and uncertainties,
many of which are beyond Karyopharm's control, that may cause
actual events or results to differ materially from Karyopharm's
current expectations. For example, there can be no guarantee that
Karyopharm will successfully commercialize XPOVIO or that any of
Karyopharm's drug candidates, including selinexor and eltanexor,
will successfully complete necessary clinical development phases or
that development of any of Karyopharm's drug candidates will
continue. Further, there can be no guarantee that any positive
developments in the development or commercialization of
Karyopharm's drug candidate portfolio will result in stock price
appreciation. Management's expectations and, therefore, any
forward-looking statements in this press release could also be
affected by risks and uncertainties relating to a number of other
factors, including the following: the adoption of XPOVIO in the
commercial marketplace, the timing and costs involved in
commercializing XPOVIO or any of Karyopharm's drug candidates that
receive regulatory approval; the ability to obtain and retain
regulatory approval of XPOVIO or any of Karyopharm's drug
candidates that receive regulatory approval; Karyopharm's results
of clinical trials and preclinical trials, including subsequent
analysis of existing data and new data received from ongoing and
future trials; the content and timing of decisions made by the U.S.
Food and Drug Administration and other regulatory authorities,
investigational review boards at clinical trial sites and
publication review bodies, including with respect to the need for
additional clinical trials; the ability of Karyopharm or its third
party collaborators or successors in interest to fully perform
their respective obligations under the applicable agreement and the
potential future financial implications of such agreement;
Karyopharm's ability to enroll patients in its clinical trials;
unplanned cash requirements and expenditures; development or
regulatory approval of drug candidates by Karyopharm's competitors
for products or product candidates in which Karyopharm is currently
commercializing or developing; the direct or indirect impact of the
COVID-19 pandemic or any future pandemic on Karyopharm's business,
results of operations and financial condition; and Karyopharm's
ability to obtain, maintain and enforce patent and other
intellectual property protection for any of its products or product
candidates. These and other risks are described under the caption
"Risk Factors" in Karyopharm's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2023,
which was filed with the Securities and Exchange Commission (SEC)
on November 2, 2023, and in other
filings that Karyopharm may make with the SEC in the future. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and, except as required by law,
Karyopharm expressly disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
XPOVIO® and NEXPOVIO® are registered trademarks of Karyopharm
Therapeutics Inc. Any other trademarks referred to in this release
are the property of their respective owners.
References:
1 Based on Komodo claims
data analysis, accessed in November
2023
2 Four multiple myeloma foundations provide
financial support to Medicare patients with multiple myeloma
KARYOPHARM THERAPEUTICS
INC. CONSOLIDATED STATEMENTS OF
OPERATIONS (unaudited) (in thousands, except
per share amounts)
|
|
|
|
Three Months
Ended
December 31,
|
|
|
Years
Ended
December 31,
|
|
|
|
2023
|
|
|
2022
|
|
|
2023
|
|
|
2022
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Product revenue,
net
|
|
$
|
25,056
|
|
|
$
|
31,126
|
|
|
$
|
112,011
|
|
|
$
|
120,445
|
|
License and other
revenue
|
|
|
8,691
|
|
|
|
2,454
|
|
|
|
34,022
|
|
|
|
36,629
|
|
Total
revenue
|
|
|
33,747
|
|
|
|
33,580
|
|
|
|
146,033
|
|
|
|
157,074
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
1,486
|
|
|
|
1,868
|
|
|
|
4,942
|
|
|
|
5,213
|
|
Research and
development
|
|
|
39,381
|
|
|
|
30,932
|
|
|
|
138,750
|
|
|
|
148,662
|
|
Selling, general and
administrative
|
|
|
30,688
|
|
|
|
34,649
|
|
|
|
131,881
|
|
|
|
145,401
|
|
Total operating
expenses
|
|
|
71,555
|
|
|
|
67,449
|
|
|
|
275,573
|
|
|
|
299,276
|
|
Loss from
operations
|
|
|
(37,808)
|
|
|
|
(33,869)
|
|
|
|
(129,540)
|
|
|
|
(142,202)
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
2,520
|
|
|
|
1,334
|
|
|
|
10,943
|
|
|
|
2,359
|
|
Interest
expense
|
|
|
(6,208)
|
|
|
|
(5,885)
|
|
|
|
(23,823)
|
|
|
|
(24,996)
|
|
Other expense,
net
|
|
|
(211)
|
|
|
|
(13)
|
|
|
|
(356)
|
|
|
|
(83)
|
|
Total other expense,
net
|
|
|
(3,899)
|
|
|
|
(4,564)
|
|
|
|
(13,236)
|
|
|
|
(22,720)
|
|
Loss before income
taxes
|
|
|
(41,707)
|
|
|
|
(38,433)
|
|
|
|
(142,776)
|
|
|
|
(164,922)
|
|
Income tax
provision
|
|
|
(130)
|
|
|
|
(73)
|
|
|
|
(323)
|
|
|
|
(369)
|
|
Net loss
|
|
$
|
(41,837)
|
|
|
$
|
(38,506)
|
|
|
$
|
(143,099)
|
|
|
$
|
(165,291)
|
|
Net loss per
share—basic and diluted
|
|
$
|
(0.36)
|
|
|
$
|
(0.43)
|
|
|
$
|
(1.25)
|
|
|
$
|
(2.02)
|
|
Weighted-average number
of common shares
outstanding used in net loss per share—basic and
diluted
|
|
|
114,778
|
|
|
|
89,934
|
|
|
|
114,221
|
|
|
|
81,871
|
|
KARYOPHARM THERAPEUTICS
INC. CONDENSED CONSOLIDATED BALANCE
SHEETS (unaudited) (in
thousands)
|
|
|
December 31,
2023
|
|
|
December 31,
2022
|
|
Assets
|
|
|
|
|
|
Cash, cash equivalents
and investments
|
$
|
191,443
|
|
|
$
|
277,967
|
|
Restricted
cash
|
|
961
|
|
|
|
1,697
|
|
Accounts
receivable
|
|
26,962
|
|
|
|
47,086
|
|
Other assets
|
|
21,072
|
|
|
|
31,422
|
|
Total
assets
|
$
|
240,438
|
|
|
$
|
358,172
|
|
Liabilities and
stockholders' deficit
|
|
|
|
|
|
Convertible senior
notes
|
$
|
170,919
|
|
|
$
|
170,105
|
|
Deferred royalty
obligation
|
|
132,479
|
|
|
|
132,718
|
|
Other
liabilities
|
|
73,246
|
|
|
|
72,005
|
|
Total
liabilities
|
|
376,644
|
|
|
|
374,828
|
|
Total stockholders'
deficit
|
|
(136,206)
|
|
|
|
(16,656)
|
|
Total liabilities and
stockholders' deficit; 114,915 and 113,213
shares issued and outstanding at December 31, 2023 and
December 31, 2022, respectively
|
$
|
240,438
|
|
|
$
|
358,172
|
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/karyopharm-reports-fourth-quarter-and-full-year-2023-financial-results-and-highlights-recent-company-progress-302074918.html
SOURCE Karyopharm Therapeutics Inc.