KPTI - Despite strong XPOVIO sales growth Karyopharm misses Q1 earnings estimates

Although Karyopharm Therapeutics (KPTI) saw 35% year-over-year growth in its sole product, XPOVIO (selinexor), the company still missed Q1 earnings estimates.Q1 GAAP EPS missed by $0.07 and although it increased 28.2% compared to the prior-year period, revenue missed by $2.4M.In the quarter, XPOVIO had sales of $21.7 million, a 7% increase compared to Q4 2020.The number of XPOVIO prescriptions filled grew to ~1170 in the quarter from ~1000 in Q4.However, the company's net loss grew from $57.4M ($0.77 per share) in the quarter compared to $52.9M ($0.78 per share) in Q1 2020.Karyopharm's guidance for 2021 is non-GAAP R&D and SG&A expenses, excluding stock-based compensation expense, is between $280 and $300 million.The company also expects that its cash on hand will be enough to support operations through late 2022.In other news, Karyopharm announced that Richard Paulson was appointed president and CEO, effective today.Karyopharm shares are up 0.6% to $9.40 in premarket trading.

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Despite strong XPOVIO sales growth, Karyopharm misses Q1 earnings estimates