Why Are Karyopharm Shares Plunging Today?

  • Karyopharm Therapeutics Inc KPTI revealed that executive vice president and chief medical officer Jatin Shah departs for "other professional opportunities."
  • While CEO Paulson looks for Shah's replacement, he has recruited two Big Pharma vets to take up key posts on the team: 
    • Patricia Judson, who led women's oncology at GlaxoSmithKline and AstraZeneca, will become the SVP of medical strategy.
    • From AbbVie, Amgen, and Eli Lilly, Stuart Poulton has been appointed SVP of strategy and portfolio management.
  • Karyopharm unveiled Phase 3 results for Xpovio in endometrial cancer, noting the drug cut the risk of disease progression or death by 30% compared to placebo, with median progression-free survival coming in at 5.7 months for the active arm and 3.8 months for the placebo cohort.
  • Price Action: KPTI shares are down 26.80% at $10.52 during the market session on the last check Tuesday.
Posted In: Briefswhy it's movingBiotechNewsHealth CareSmall CapManagementMoversTrading IdeasGeneral