KPTI - Will Karyopharm's Stock Take Off in 2020?
2020 looks to be an important year for Karyopharm Therapeutics (NASDAQ: KPTI). First, Karyopharm expects to share the results from its ongoing phase 3 clinical trial. It also should receive feedback from European regulators on an earlier pivotal trial in multiple myeloma -- a type of cancer. Lastly, investors will closely watch the first full year of sales for Xpovio, Karyopharm's cancer drug that gained its U.S. Food and Drug Administration approval in July as a treatment for advanced multiple myeloma.
Selinexor, commercially known as Xpovio, achieved FDA approval on July 3. However, Karyopharm endured a rocky road to get there. In February, the FDA convened its Oncologic Drugs Advisory Committee (ODAC) to review the submission for approval as a treatment in combination with the myeloma drug dexamethasone in patients who already had three prior treatments. The ODAC panel raised a number of concerns and ultimately voted eight-to-five to delay the accelerated approval until after the final completion of the company's phase 3 "Boston" clinical trial.
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