Karyopharm Therapeutics Inc (NASDAQ: KPTI) is having an overwhelmingly strong start to the trading session early on after announcing data from a Phase 2b clinical study late yesterday. Of course, the data proved to be positive, leading to strong gains in the value of the stock. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from KPTI;
- and what we’ll be watching for ahead.
KPTI Heads For The Top On Clinical Data
As mentioned above, Karyopharm Therapeutics is having an incredibly strong start to the trading session this morning after releasing data. In a press release issued late yesterday, the company reported positive top-line results from a Phase 2b clinical study. Known as STORM, the study is evaluating the Company’s lead, oral Selective Inhibitor of Nuclear Export (SINE) compound selinexor. The study assessed the treatment in heavily pretreated patients with refractory multiple melanoma. Previously, selinexor was granted Fast Track designation from the United States Food and Drug Administration. In a statement, Paul G. Richardson, MD, Director of Clinical Research at the Jerome Lipper Multiple Myeloma Center at the Dana-Farber Cancer Institute, had the following to offer:
Despite numerous advances in myeloma treatment, currently available therapies are insufficient to address the increasing number of patients with highly resistant, penta-refractory myeloma, where the disease has ultimately become non-responsive to approved therapy. There is, therefore, a real urgency for new therapies with novel mechanisms of action for these patients, who have a critical unmet medical need. Selinexor’s targeted inhibition of nuclear export could potentially expand the armamentarium of treatment options significantly in this important population for which no other established treatment is readily available.
The above statement was followed up by Sundar Jagannath, MD, Director of the Multiple Myeloma Program and Professor of Medicine at Tisch Cancer Institute at Mount Sinai School of Medicine. Here’s what Dr. Jagannath had to offer with regard to the treatment under development at KPTI:
The 25.4% response rate and 4.4 month duration of response observed in the STORM study are highly compelling…For an orally administered therapy, these new data underscore selinexor’s potential to be an exciting new treatment option for these difficult-to-treat patients who have exhausted approved therapies.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes moves. In this particular case, the news released by Karyopharm Therapeutics proved to be overwhelmingly positive. With strong data in this study, the company will progress development further, hopefully reaching commercialization relatively soon. So, it’s no surprise that excited investors are sending the stock upward. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:51), KPTI is trading at $14.96 per share after a gain of $1.88 per share or 14.34% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on KPTI. In particular, we’re interested in following the story surrounding the development of selinexor as the treatment is generating overwhelmingly positive results in the clinical setting. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!