Karyopharm Therapeutics Inc (NASDAQ: KPTI)
Karyopharm Therapeutics is having a pretty strong day in the market today after FDA news excited investors. That excitement led to a frenzy, pushing the stock upward and prompting our partners at Trade Ideas to alert us of the movement. At the moment (10:44), KPTI is trading at $12.26 per share after a gain of $0.30 per share or 2.46% thus far today.
FDA Lifts KPTI Hold
Recently, the FDA Division of Hematology Products placed a partial clinical hold on Karyopharm Therapeutics’ clinical study surrounding selinexor (KPT-330). However, this morning, it was announced that the FDA has lifted this hold, enabling patient enrollment and dosing of new patients in the clinical trial surrounding selinexor as a treatment in hematological malignancies. It is important to keep in mind that the partial hold was not the result of a death nor any change in safety. In a statement, Michael G. Kauffman, MD, PhD, the CEO at KPTI had the following to offer…
“The Karyopharm team worked diligently to update and submit the required documents to the FDA, which allowed the hematology division to expeditiously remove the partial clinical hold. We anticipate that the solid tumor divisions will follow suit shortly. Patient enrollment is again underway in our hematologic oncology studies. Our previously disclosed enrollment rates and timelines for both ongoing and planned trials are not expected to be materially impacted.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on KPTI. In particular, we’re following the progress of selinexor as if the treatment is approved, it will likely be an overwhelmingly profitable one. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
What Do You Think?
Where do you think KPTI is headed moving forward? Join the discussion in the comments below or on StockTwits!
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