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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