Karyopharm stock soars on se­linex­or's pos­i­tive PhI­Ib up­date, plans for an NDA

Af­ter spook­ing some in­vestors who were wait­ing all day for a promised tri­al up­date — and send­ing its stock down 14% on the per­ceived de­lay — Karyopharm Ther­a­peu­tics $KP­TI fi­nal­ly rolled out new da­ta on its lead can­cer drug se­linex­or af­ter mar­ket close Mon­day. In­vestors ap­pear to be hap­py with the news af­ter all, boost­ing the stock price 26% in af­ter-hours trad­ing.

The drug was be­ing test­ed among mul­ti­ple myelo­ma pa­tients who had proved re­sis­tant to a long slate of drugs, an in­di­ca­tion of just how crowd­ed MM has grown in re­cent years. In this da­ta up­date — the sec­ond from Karyopharm’s Phase IIb tri­al called STORM — se­linex­or achieved a 25.4% over­all re­sponse rate, which in­clud­ed two com­plete re­spons­es and 29 par­tial or very good par­tial re­spons­es in pa­tients.  The me­di­an du­ra­tion of re­sponse, a key sec­ondary ob­jec­tive, was 4.4 months.

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