Karyopharm Therapeutics Falls As Pivotal Trial Hits Spleen Goal But Misses Symptom Mark

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) shares are down on Tuesday as the company reported mixed results from its Phase 3 SENTRY trial for myelofibrosis. Myelofibrosis is a rare, chronic blood cancer (myeloproliferative neoplasm) where bone marrow is replaced by scar tissue, disrupting blood cell production. Trial Shows Strong Spleen Reduction But Misses Symptom Endpoint The SENTRY trial met its first co-primary endpoint, showing significant improvement in spleen volume reduction for patients treated with selinexor plus ruxolitinib. The trial showed statistically significant improvement in spleen volume reduction of 35% or more (SVR35) for patients treated with the combination of selinexor plus ruxolitinib. In addition, the trial demonstrated a promising overall survival signal, with a greater than 50% reduction in the risk of death compared to ruxolitinib alone. Symptom Score Gap And Secondary Endpoints Remain Unclear 50% of patients who received the combination of selinexor plus ruxolitinib achieved a statistically significant improvement in SVR35 at week 24 compared to 28% of patients who received ruxolitinib alone. Patients on the combination achieved rapid spleen reduction, with 49% already achieving SVR35 at week 12, compared to 20% who received ruxolitinib alone. Spleen volume reduction was sustained, with 47% of patients on the combination achieving SVR35 at week 36 compared to 23% who received ruxolitinib alone. Patients who received the combination reported a 9.89-point improvement in symptoms compared to a 10.86-point improvement in patients who received ruxolitinib alone. However, the trial did not meet its second co-primary endpoint of absolute total symptom score. Across other secondary and exploratory endpoints of progression-free survival, hemoglobin stabilization, and bone marrow fibrosis improvement, no meaningful difference was observed between the trial arms as of the data. Karyopharm Plans Data Disclosure And Publication Path The company intends to further evaluate these endpoints as they mature. Karyopharm Therapeutics plans to share additional data from the Phase 3 SENTRY trial at an upcoming medical meeting and expects to submit a manuscript to a peer-reviewed medical journal. The company believes that potential inclusion in relevant compendia could occur in the second half of 2026. $30 Million Private Placement Adds Near-Term Capital Flexibility Karyopharm Therapeutics announced a private placement of approximately $30 million and an additional approximately $44 million of gross proceeds if the accompanying warrants are exercised. in full. The company agreed to sell 1.03 million shares at $6.785 per share, 3.39 million pre-funded warrants at $6.7849 per pre-funded warrant, and accompanying warrants to purchase 4.42 million shares with an exercise price of $10.00 per share. Karyopharm Analysts Maintain Bullish Outlook Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $42.17. Recent analyst moves include: Rodman & Renshaw: Initiated with Buy (Target $28.00) (Mar. 10) HC Wainwright & Co.: Buy (Maintains Target to $15.00) (Feb. 18) Cantor Fitzgerald: Initiated with Overweight (Feb. 5) KPTI Price Action: Karyopharm Therapeutics shares were down 17.43% at $6.04 at the time of publication on Tuesday, according to Benzinga Pro data. Image via Shutterstock