Positive analyst view drives Karyopharm Therapeutics Inc (NASDAQ: KPTI) stock higher

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Karyopharm Therapeutics Inc (NASDAQ: KPTI), an oncology-focused pharmaceutical company, stock rose over 1.4% on Jan 21st, 2020 (as of 12:08 pm GMT-5; Source: Google finance) after research analysts at Wedbush raised the earnings estimates for the fourth quarter 2020. Wedbush analyst D. Nierengarten now expects that the company will post earnings per share of $0.20 for the quarter, which is up from their prior forecast of $0.14. Wedbush currently has a “Neutral” rating on the stock. Wedbush also projects Karyopharm Therapeutics’ FY2023 earnings to be at $1.91 EPS and FY2024 earnings to be at $3.46 EPS. Meanwhile, the company as per the preliminary unaudited financial information, Karyopharm expects net product sales of XPOVIO to be in the range of $17 and $18 million during the fourth quarter and to be in the range of $30 and $31 million for the full year 2019. As of December 31, 2019, the company had fulfilled approximately 1,400 XPOVIO prescriptions on the back of strong demand from both academic and community-based oncologists. In less than 6 months on the market, XPOVIO were prescribed by more than 550 unique physicians and healthcare accounts.

Moreover, the company has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) to receive the accelerated approval for XPOVIO (selinexor), which is the Company’s first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound, as a new treatment for patients with relapsed or refractory diffuse large B-Cell lymphoma (DLBCL) after at least two prior multi-agent therapies and who are ineligible for stem cell transplantation, including CAR-T (chimeric antigen receptor modified T cell) therapy.  XPOVIO has received both Orphan Drug and Fast Track designations from the FDA for this indication. Furthermore, Karyopharm also anticipates to submit a marketing authorization application (MAA) to the European Medicines Agency in 2020 to get conditional approval for XPOVIO in this same indication.

Additionally, Karyopharm has received confirmation from the FDA that the Company is entitled to seven years of orphan-drug exclusivity for XPOVIO’s approved indication for the treatment of patients with relapsed or refractory multiple myeloma, according to section 527 of the Federal Food, Drug, and Cosmetic Act. In addition, Karyopharm’s pivotal, randomized Phase 3 BOSTON study is progressing and patient enrollment was completed in January 2019.  Top-line data are anticipated in early 2020 upon the condition of occurrence of progression-free survival (PFS) events, the primary endpoint of the study.

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