Business
Karyopharm Reports Fourth Quarter and Full Year 2022 Financial Results and Highlights Recent Company Progress
-- Total Revenue of $157.1 Million and U.S. XPOVIO® (selinexor) Net Product Revenue of $120.4 Million for Full Year 2022, Meeting Company's Guidance -- --
About this update from Karyopharm Therapeutics Inc.
[{"type":"text","content":"-- Total Revenue of $157.1 Million and U.S. XPOVIO® (selinexor) Net Product Revenue of $120.4 Million for Full Year 2022, Meeting Company's Guidance --\n-- Updated Results from the Phase 1 Study of Selinexor in Combination with Ruxolitinib in Patients with Treatment-Naïve Myelofibrosis and Interim Data from the Phase 2 Study Evaluating Eltanexor in Relapsed/Refractory Myelodysplastic Neoplasms Expected in 1H 2023 --\n-- Company Provides Full Year 2023 Total Revenue Guidance of $160 Million to $175 Million, Including U.S. XPOVIO Net Product Revenue Guidance of $125 Million to $140 Million; Cash Runway to Late 2025 --\n -- Conference Call Scheduled for Today at 8:00 a.m. ET--\nNEWTON, Mass., Feb. 15, 2023 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today reported financial results for the fourth quarter and full year ended December 31, 2022. In addition, Karyopharm highlighted select corporate milestones and provided an overview of its key clinical development programs.\n\n \n \n \n \n \n \n\n \n\"In 2022, Karyopharm delivered strong financial performance with a 22% increase in U.S. XPOVIO net product revenue, coupled with significant progress across our clinical pipeline and the achievement of several key regulatory milestones. Importantly, we solidified our financial runway to late 2025, enabling us to be well positioned to deliver the next stages of the company's growth,\" said Richard Paulson, President and Chief Executive Officer of Karyopharm. \"Moving forward in 2023, we are excited to advance our mid-late stage pipeline and anticipate multiple data catalysts and robust progress across our programs in multiple myeloma, endometrial cancer, myelofibrosis and myelodysplastic neoplasms. We are passionate in our pursuit to bring forward innovative treatments that address critical unmet needs and positively impact the lives of people living with cancer.\"\nFourth Quarter 2022 and Recent Highlights\nXPOVIO Commercial Performance\nAchieved U.S. net product revenue for the year ended December 31, 2022 of $120.4 million, up 22% compared to $98.4 million for the year ended December 31, 2021. U.S. net product revenue for the fourth quarter of 2022 was $31.1 million, up 4% from the fourth quarter of 2021.Continued progress in shifting selinexor...