Karyopharm Therapeutics Inc.
Business
Karyopharm Therapeutics Inc. is a commercial-stage pharmaceutical company that discovers, develops and commercializes first-in-class small molecule therapies that inhibit nuclear export (XPO1) for the treatment of cancer. Its main products and product candidates include the oral XPO1 inhibitor selinexor marketed as XPOVIO/NEXPOVIO, development-stage eltanexor and investigational assets such as KPT-9274. The company organizes activities across commercial operations, clinical development and partnered/licensed programs and maintains regulatory, manufacturing oversight and patient support functions. It commercializes directly in the U.S. through a specialty sales force, nurse liaisons and patient support programs, and relies on partners and distributors to market and secure reimbursement outside the U.S., supplemented by specialty pharmacy channels.
Summary from filing dated 2025-02-19
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue from contract with customer, license and other revenue | 146 | 145 | 146 | 157 | 210 | |
| Research and development | 126 | 143 | 139 | 149 | 161 | |
| Selling, general and administrative | 105 | 115 | 132 | 145 | 144 | |
| Total operating expenses | 237 | 265 | 276 | 299 | 308 | |
| Loss from operations | −91 | −119 | −130 | −142 | −98 | |
| Interest income | 3 | 7 | 11 | 2 | 582,000 | |
| Interest expense | −46 | −37 | −24 | −25 | — | |
| (Loss) gain on extinguishment of debt | −62 | 45 | 0 | 0 | — | |
| Other income (expense), net | 152,000 | 28 | −356,000 | −83,000 | −85,000 | |
| Total other (expense) income, net | −105 | 43 | −13 | −23 | −26 | |
| Loss before income taxes | −196 | −76 | −143 | −165 | −124 | |
| Income tax provision | −43,000 | −57,000 | −300,000 | −400,000 | −300,000 | |
| Net loss | −196 | −76 | −143 | −165 | −124 | |
| Basic net loss per share | −17.93 | −9.41 | −18.79 | −2.02 | −1.65 | |
| Diluted net loss per share (Note 2) | −17.93 | −14 | −18.79 | −2.02 | −1.65 | |
| Weighted-average number of common shares outstanding used to compute basic net loss per share | 10,935 | 8,125 | 7,616 | 81,871 | 75 | |
| Weighted-average number of common shares outstanding used to compute diluted net loss per share | 10,935 | 8,455 | 7,616 | 81,871 | 75 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 61 | 62 | 52 | 135 | 190 | |
| Investments | 3 | 46 | 139 | 143 | 38 | |
| Accounts receivable, net | 26 | 31 | 27 | 47 | 22 | |
| Inventory | 4 | 5 | 3 | 4 | 4 | |
| Prepaid expenses and other current assets | 9 | 12 | 12 | 20 | 14 | |
| Total current assets | 103 | 156 | 234 | 350 | 276 | |
| Property and equipment, net | 104,000 | 400,000 | 606,000 | 1 | 2 | |
| Operating lease right-of-use assets | 5 | 6 | 4 | 6 | 8 | |
| Restricted cash | 351,000 | 338,000 | 301,000 | 633,000 | 637,000 | |
| Other assets | 267,000 | 1 | 1 | 0 | 20 | |
| Total assets | 108 | 164 | 240 | 358 | 305 | |
| Accounts payable | 4 | 5 | 3 | 3 | 2 | |
| Accrued expenses | 64 | 61 | 61 | 58 | 69 | |
| Convertible senior notes due 2025 | 0 | 24 | 0 | — | — | |
| Senior secured term loan | 21 | 0 | — | — | — | |
| Operating lease liabilities | 969,000 | 438,000 | 3 | 3 | 2 | |
| Other current liabilities | 2 | 2 | 2 | 2 | 678,000 | |
| Total current liabilities | 92 | 92 | 69 | 66 | 74 | |
| Convertible senior notes due 2029 | 90 | 68 | 0 | — | — | |
| Convertible senior notes due 2028 | 21 | 0 | — | — | — | |
| Senior secured term loan, net of current portion | 95 | 95 | 0 | — | — | |
| Deferred royalty obligation | 72 | 73 | 132 | 133 | 133 | |
| Common stock warrants | 14 | 13 | 0 | — | — | |
| Operating lease liabilities, net of current portion | 6 | 7 | 3 | 6 | 9 | |
| Other liabilities | 11 | 2 | 978,000 | 0 | — | |
| Total liabilities | 401 | 350 | 377 | 375 | 385 | |
| Preferred stock, $0.0001 par value; 5,000 shares authorized; none issued and outstanding | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value; 53,333 shares authorized; 18,311 and 8,413 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 14,000 | 13,000 | 12,000 | 12,000 | 8,000 | |
| Additional paid-in capital | 1,466 | 1,378 | 1,351 | 1,328 | 1,099 | |
| Accumulated other comprehensive income (loss) | 71,000 | −356,000 | −161,000 | −638,000 | 191,000 | |
| Accumulated deficit | −1,800 | −1,563 | −1,487 | −1,344 | −1,179 | |
| Total stockholders' deficit | −293 | −186 | −136 | −17 | −80 | |
| Total liabilities and stockholders' deficit | 108 | 164 | 240 | 358 | 305 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −196 | −76 | −143 | −165 | −124 | |
| Stock-based compensation expense | 14 | 18 | 22 | 35 | 30 | |
| Depreciation and amortization | 296,000 | 340,000 | 530,000 | 621,000 | 789,000 | |
| Amortization of debt issuance costs and discounts | 11 | 6 | 814,000 | 812,000 | 780,000 | |
| Interest expense added to debt principal | 6 | 0 | 0 | — | — | |
| Net amortization of premiums and discounts on investments | −410,000 | −3 | −4 | −825,000 | 2 | |
| Change in fair value of embedded derivatives and common stock warrants | −707,000 | −29 | 0 | −281,000 | −100,000 | |
| Accounts receivable, net | 5 | −4 | 20 | −5 | −10 | |
| Inventory | 701,000 | −2 | 1 | −118,000 | −1 | |
| Prepaid expenses and other assets | 4 | −432,000 | 7 | −6 | −25 | |
| Operating lease right-of-use assets | 1 | −2 | 2 | 2 | 1 | |
| Accounts payable | −1 | 2 | 350,000 | 1 | −3 | |
| Accrued expenses and other liabilities | 19 | 4 | 4 | −10 | 16 | |
| Operating lease liabilities | −438,000 | 1 | −3 | −2 | −2 | |
| Net cash used in operating activities | −75 | −127 | −93 | −150 | −107 | |
| Proceeds from maturities of investments | 43 | 154 | 167 | 122 | 193 | |
| Purchases of investments | 0 | −59 | −159 | −226 | −45 | |
| Purchases of property and equipment | 0 | −142,000 | 0 | −118,000 | −212,000 | |
| Net cash provided by investing activities | 43 | 95 | 8 | −104 | 142 | |
| Proceeds from convertible debt | 15 | 0 | 0 | — | — | |
| Proceeds from senior secured term loan | 12 | 83 | 0 | 0 | — | |
| Proceeds from issuance of common stock and warrants in private placement offering | 9 | 0 | 0 | — | — | |
| Proceeds from the exercise of stock options and shares issued under the employee stock purchase plan | 761,000 | 1 | 1 | 4 | 4 | |
| Payment of convertible debt | −250,000 | 0 | 0 | — | — | |
| Payment of deferred royalty obligation | 0 | −41 | 0 | 0 | — | |
| Payment of debt and equity issuance costs | −6 | −3 | 0 | — | — | |
| Net cash provided by financing activities | 30 | 42 | 1 | 194 | 74 | |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 20,000 | −11,000 | −34,000 | −488,000 | −48,000 | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | −2 | 10 | −84 | −61 | 108 | |
| Cash paid for interest on deferred royalty obligation | 4 | 21 | 16 | 29 | 10 | |
| Cash paid for interest on convertible debt and term loan | 11 | 17 | 5 | 5 | 5 | |
| Cash paid for amounts included in the measurement of operating lease liabilities | 1 | 3 | 4 | 3 | 3 | |
| Lease liabilities arising from obtaining right-of-use assets | 0 | 4 | 0 | 0 | — | |
| Debt issued for interest payments | 13 | 0 | 0 | — | — | |
| Convertible senior notes due 2029 issued with warrants to purchase 3,100 shares of common stock in exchange for a $148,000 reduction of convertible senior notes due 2025 | 0 | 111 | 0 | 0 | — | |
| Senior secured term loan issued in exchange for a $14,700 reduction of deferred royalty obligation | 0 | 15 | 0 | 0 | — | |
| Issuance of common stock and warrants used to settle fees related to financing activities | 0 | 8 | 0 | 0 | — | |
| Convertible senior notes due 2029 issued in exchange for a $5,000 reduction of deferred royalty obligation | 0 | 5 | 0 | 0 | — |