Karyopharm Therapeutics Inc. (NASDAQ: KPTI) has given investors a date on which they can expect to catch the latest from a mid-stage study of the company’s most advanced candidate called selinexor (KPT-330).
The drug is being developed as a treatment for multiple myeloma (MM) and a host of other malignancies. What Karyopharm has said is going to happen on September 6, 2016 is the release of topline results from a Phase 2 study of the candidate.
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) has been evaluating selinexor in Phase 2b STORM study and it is nearing a point where it wants to discuss what transpired during the trial. After the release of the topline results, the company is expected to provide a development pathway for the compound. Investors are waiting for clues on whether Karyopharm can get the FDA to accelerate the approval of selinexor for marketing.
A few months ago, Karyopharm Therapeutics Inc. (NASDAQ: KPTI) updated on the Phase 2b study progress of selinexor, saying that 43% of patients who received the drug responded well to the treatment after at least one month.
As such, positive data from the Phase 2b trial should boost the confidence of Karyopharm’s management to approach the regulator for a speeded up clearance of the candidate.
Not only would an accelerated approval of selinexor increase treatment option for many MM sufferers, but also lower the cost of developing the drug. Karyopharm spends about $120 million annually to operating activities related to development of cancer drugs, including selinexor.
Need for new treatment option – Karyopharm Therapeutics Inc. (NASDAQ: KPTI)
There is a huge need for new MM treatment options, especially for patients who have failed to see success with existing medicines for the condition. Karyopharm’s selinexor could be the long awaited option for MM patients. A June study showed that six out of 10 patients who received a treatment containing selinexor registered an improvement in their condition.
A $500 million revenue product
Analysts estimate that Karyopharm Therapeutics Inc. (NASDAQ: KPTI)’s selinexor could generate more than $500 million in annual sales by 2025 in the MM market alone. It is no wonder that analysts at Jefferies are feeling excited about the future of the company. Jefferies has upgraded its rating on Karyopharm stock to BUY from HOLD and assigned it $12 price target.