Shares of Karyopharm Therapeutics (NASDAQ:KPTI) fell 13% on Wednesday after the commercial-stage biopharmaceutical company announced a set of strategic financing transactions designed to provide $100 million in additional liquidity and capital resources.
The Newton, Massachusetts-based firm said the new financing will extend its cash runway into the second quarter of 2026. The transactions, expected to close around October 10, include $67.5 million in new capital and financial flexibility through a mix of $27.5 million in term loan borrowings and convertible notes, $25 million in deferred interest and royalty payments, and a $15 million temporary reduction in minimum liquidity requirements.
In addition, holders of about $24.25 million of the company’s senior unsecured convertible notes due October 15, 2025, have agreed to exchange their notes for newly issued common stock or pre-funded warrants, along with warrants to purchase additional shares.
Karyopharm also signed a securities purchase agreement for a private placement expected to raise approximately $8.75 million in gross proceeds before expenses.
The company released preliminary third-quarter 2025 results, projecting total revenue between $42 million and $44 million, including U.S. XPOVIO net product revenue of roughly $32 million. As of September 30, Karyopharm reported about $46 million in cash, cash equivalents, restricted cash, and investments, prior to accounting for the new financing.
“Following the recent completion of enrollment of our Phase 3 SENTRY trial in myelofibrosis, we are excited to announce this strategic financing which is expected to provide us with the resources needed to deliver top-line data from this pivotal trial,” said Richard Paulson, President and Chief Executive Officer of Karyopharm.
The company expects to release top-line results from the Phase 3 SENTRY trial in myelofibrosis in March 2026.
Karyopharm Therapeutics stock price
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