Karyopharm lays off 20% of staff to fo­cus cash on Xpovio can­cer tri­als

Karyopharm Ther­a­peu­tics an­nounced it is lay­ing off about 20% of its staff and amend­ed a fi­nanc­ing agree­ment in or­der to stretch its cash in­to late 2025, al­low­ing the biotech to fo­cus on two Phase III Xpovio tri­als.

As of Feb. 10, Karyopharm had 385 em­ploy­ees, ac­cord­ing to re­cent SEC fil­ings. The lay­offs im­pact both full-time em­ploy­ees and con­trac­tors.

Karyopharm al­so amend­ed its fi­nanc­ing agree­ment with Health­Care Roy­al­ty Part­ners, is­su­ing war­rants ex­er­cis­able for 250,000 shares of the com­pa­ny’s com­mon stock at a per-share price of $2.25 and ex­tend­ing the min­i­mum ag­gre­gate pay­ment amount date by six months.

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