Karyopharm Therapeutics rises on job cuts

Karyopharm Therapeutics

08/01/2024 18:51

** Shares of Karyopharm Therapeutics  KPTI.O  rise 12.4% to
92 cents 
    ** Co to cut about 20% of its workforce, including full-time
employees and contractors to invest in its late-stage programs 
    ** Co expects to report results from three pivotal
late-stage studies testing its cancer drug Xpovio to potentially
treat a type of blood cancer, endometrial cancer and a type of
bone marrow cancer in H2 2024 and 2025
    ** Xpovio is already approved by the U.S. FDA to treat a
type of blood cancer 
    ** Co expects cash runway into late 2025 that would support
multiple potentially value generating milestones - KPTI 
    ** Stock down 74.6% in 2023

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))