Karyopharm Therapeutics Inc. (KPTI), a commercial-stage pharmaceutical company, has plunged 27.33% in the premarket trading session. As a result, the stock was trading at $7.55 when last checked. During Tuesday’s regular trading session, the stock slightly increased by 0.58% and closed the day at $10.39. The stock has slid in premarket owing to the provision of regulatory updates by the company.
Negative Feedback for SIENDO Study
On Tuesday, KPTI announced that during the meeting with US FDA, the company had received feedback regarding the topline results of its ongoing SIENDO study. The FDA was of the view that the product was unlikely to get an sNDA approval. The company said that it would continue to collect and analyze the study data of SIENDO. Alongside, the company would continue to work with FDA for exploring all of the regulatory pathways.
KPTI Approved of Stock Grant Options
On Monday, KPTI announced that the company had approved the grant of stock options for purchasing the aggregate of 168,500 shares of the company’s common stock as well as an aggregate of 112,200 restricted stock units to nine employees of the company who are newly hired. The company said that each of the stock options has an exercise price of $10.33 per share.
Changes to Clinical Team
On 22nd February, KPTI reported some changes in the clinical leadership team. The most primary change was the appointment of Patricia Judson, M.D. in the role of Senior Vice President of Medical Strategy as well as the appointment of Stuart Poulton in the role of Senior Vice President of Strategy and Portfolio Management. Alongside that, the company announced that M.D., Executive Vice President and Chief Medical Officer, Jatin Shah, has stepped down from his role. He, however, would continue to serve in the role of an advisor for the company.
What’s Ahead for KPTI?
Looking toward what’s coming ahead, analysts believe that several short-term indicators are pointing in a positive direction for KPTI stock, and hence, it holds buying opportunities at the current level. Investors should plan their investments in the stock accordingly.