Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw its stock tumble 17% after the biotech firm disclosed that recent attempts to raise capital have not yet resulted in a deal, fueling investor concerns about its financial outlook.
The company said it has held confidential discussions with both existing and prospective investors, but those talks have so far failed to secure any new funding. In light of the situation, Karyopharm’s board has initiated a strategic review process, which may include a potential merger, company sale, debt restructuring, or other refinancing avenues.
To conserve resources and extend its cash reserves, Karyopharm is also implementing a workforce reduction of around 20%. The company indicated that associated severance and transition costs will have minimal financial impact.
Despite ongoing financial strain, Karyopharm reaffirmed its dedication to advancing its late-stage clinical programs in myelofibrosis and endometrial cancer, while continuing to leverage its commercial capabilities in multiple myeloma.
The company had shared confidential information with potential investors under nondisclosure agreements and stated it was obligated to make that information public by July 14, 2025. Karyopharm emphasized that it does not plan to issue further updates unless its board authorizes a specific course of action or determines additional disclosure is necessary.
Karyopharm Therapeutics stock price
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