KPTI - Why Karyopharm Therapeutics Inched Higher Today
The second quarter of biotech Karyopharm Therapeutics (NASDAQ: KPTI) was a good one, at least as far as its headline figures were concerned. On the back of revenue and earnings beats, investors bid up the company's share price on the day...but only marginally, as the stock notched a less than 1% gain.
Karyopharm, best known for its multiple myeloma treatment Xpovio, unveiled its quarterly figures early that morning.
These showed that the biotech took in nearly $39.7 million in revenue, bolstered by substantial gains in both product sales and licensing/other revenue. On the downside, the company's net loss didn't narrow by much, coming in at more than $49 million ($0.62) versus $53.6 million in the same quarter of 2021.
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Why Karyopharm Therapeutics Inched Higher Today