Karyopharm Announces Preliminary Unaudited 2023 Revenue and 2024 Objectives
Karyopharm Therapeutics Inc., a commercial-stage pharmaceutical company, has announced its preliminary unaudited financial results for the fourth quarter and full year of 2023. The company expects its total revenue to be approximately $146 million, with U.S. XPOVIO (selinexor) net product revenue estimated at $112 million, aligning with the company's guidance. Karyopharm's strategic focus for 2024 includes advancing its late-stage pipeline, particularly in multiple myeloma, endometrial cancer, and myelofibrosis, with several pivotal Phase 3 studies expected to report top-line data in the second half of 2024 and 2025.
Key highlights from 2023 include the growth of XPOVIO demand in the community setting, despite increased competitive pressures in the academic setting. The National Comprehensive Cancer Network® (NCCN) Clinical Practice Guidelines elevated XPOVIO in combination with bortezomib and dexamethasone to a preferred regimen for certain multiple myeloma patients. Additionally, Karyopharm expanded its clinical trial collaborations and achieved national reimbursement for selinexor in mainland China.
In endometrial cancer, long-term exploratory subgroup analyses from the Phase 3 SIENDO study showed promising progression-free and overall survival data for patients with TP53 wild-type endometrial cancer. In myelofibrosis, updated results from a Phase 1 study evaluating selinexor in combination with ruxolitinib demonstrated encouraging outcomes, leading to the initiation of a pivotal Phase 3 portion of the study.
Karyopharm also reported interim data from a Phase 2 study of eltanexor in high-risk relapsed/refractory myelodysplastic neoplasms (MDS) and received a patent term extension for XPOVIO in the United States. The company has optimized its corporate organization to focus on Phase 3 programs and expects its cash runway to extend into late 2025, supporting its operational objectives and potential value-generating milestones in 2024.