Business
Karyopharm Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Total Revenues and Provides Commercial Update
-- Unaudited Total Revenues of between $35.0 Million and $36.0 Million for Fourth Quarter 2020 and between $108.0 Million and $109.0 Million for the Full Year
About this update from Karyopharm Therapeutics Inc.
[{"type":"text","content":"-- Unaudited Total Revenues of between $35.0 Million and $36.0 Million for Fourth Quarter 2020 and between $108.0 Million and $109.0 Million for the Full Year 2020 --\n -- XPOVIO® (selinexor) Unaudited Net Product Sales of between $20.0 Million and $20.5 Million for Fourth Quarter 2020 and between $76.0 Million and $76.5 Million for the Full Year 2020 --\n -- Commercial Launch of XPOVIO in Expanded Multiple Myeloma Indication Fully Underway --\n\n\nNEWTON, Mass., Jan. 11, 2021 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced preliminary unaudited fourth quarter and full year 2020 total revenue estimates including net product sales for XPOVIO, the Company's first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) medicine, and provided additional updates on XPOVIO's commercial progress.\nBased on preliminary unaudited financial information, Karyopharm expects total revenues for the fourth quarter of 2020 to be between $35.0 million and $36.0 million and between $108.0 million and 109.0 million for the full year of 2020. Additionally, Karyopharm expects net product sales of XPOVIO to be between $20.0 million and $20.5 million during the fourth quarter and between $76.0 million and $76.5 million for the full year 2020. Net sales for the fourth quarter were largely driven by prescription demand from both academic and community-based oncologists for patients with penta-refractory multiple myeloma. Additional sales were also generated from patients with diffuse large B-cell lymphoma (DLBCL). Finally, approximately $15 million of license revenue was also recognized in the fourth quarter following progress made toward the international expansion for XPOVIO.\nXPOVIO sales in the fourth quarter of 2020 were approximately 4-6% lower than the third quarter of 2020. Sales were affected by the recent surge in U.S. COVID-19 cases impacting both patient visits to their healthcare providers, as well as reduced in-person access for Karyopharm's commercial team to its physician customers. Additionally, increased competition, specifically in the penta-refractory multiple myeloma setting, also contributed to the sales pressure in the quarter. Importantly, XPOVIO prescription demand was higher in December 2020 compared to either October or...