Karyopharm Therapeutics Inc (NASDAQ:KPTI), a clinical-stage pharmaceutical company, today announced a poster presentation highlighting updated clinical data from the Company’s ongoing Phase 1b study of selinexor (KPT-330), a first-in-class, oral Selective Inhibitor of Nuclear Export / SINE™ compound that inhibits exportin 1 (XPO1), and dexamethasone in combination with standard of care agents in heavily pretreated patients with relapsed/refractory multiple myeloma (MM) (the STOMP study), including patients with proteasome inhibitor and immunomodulatory agent (IMiD) refractory MM. The Company also presented two e-posters featuring preclinical data for its second-generation SINE™ compound, KPT-8602. These data sets were presented at the 21st Congress of theEuropean Hematology Association (EHA) held June 9-12, 2016 in Copenhagen, Denmark.
“We are highly encouraged by the promising, durable activity and safety we continue to observe in the STOMP trial,” said Sharon Shacham, PhD, MBA, President and Chief Scientific Officer of Karyopharm. “Selinexor and dexamethasone in combination with backbone therapies, such as bortezomib and pomalidomide, has the potential to provide a new treatment option for multiple myeloma, even in heavily pretreated patients whose disease has progressed on these standard agents. We look forward to reporting additional top-line data from the Phase 1b portion of this study in late 2016, with the accompanying goal of determining the recommended Phase 2 doses for several of these combinations.”
In the poster, titled “A Phase 1b/2 Study of Selinexor in Combination with Backbone Therapies for Treatment of Relapsed/Refractory Multiple Myeloma,” Dr. Nizar Bahlis of the Southern Alberta Cancer Research Institute and colleagues, for the first time described clinical data from the ongoing Phase 1b/2 STOMP study of selinexor and dexamethasone in combination with bortezomib (Velcade®), pomalidomide (Pomalyst®), or lenalidomide (Revlimid®) in heavily pretreated relapsed/refractory MM patients. High response rates were reported for the selinexor + dexamethasone + bortezomib (SdB) and selinexor + dexamethasone + pomalidomide (SdP) arms; data are early for the ongoing selinexor + dexamethasone + lenalidomide (SdL) arm.
Dr. Bahlis commented, “We are particularly impressed with the high level of durable activity of selinexor in combination with bortezomib, particularly in patients whose disease is refractory to proteasome inhibitors. In addition, the preliminary results show that selinexor can combine with pomalidomide with good tolerability and strong responses. Together, these data indicate that selinexor can be added to standard treatments for patients with myeloma with high rates of anti-tumor activity, consistent with preclinical results showing that selinexor can reverse resistance to other therapies.” (Original Source)
Shares of Karyopharm are up nearly one percent to $9.22 in pre-market trading. KPTI has a 1-year high of $28.66 and a 1-year low of $4.83. The stock’s 50-day moving average is $8.96 and its 200-day moving average is $9.51.
On the ratings front, Karyopharm has been the subject of a number of recent research reports. In a report issued on May 27, Raymond James analyst Christopher Raymond initiated coverage with a Buy rating on KPTI and a price target of $13, which implies an upside of 42.5% from current levels. Separately, on May 9, Canaccord Genuity’s Arlinda Lee reiterated a Buy rating on the stock and has a price target of $20.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher Raymond and Arlinda Lee have a total average return of 42.1% and -22.6% respectively. Raymond has a success rate of 73.9% and is ranked #30 out of 3903 analysts, while Lee has a success rate of 27.7% and is ranked #3888.
Overall, one research analyst has rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $14.25 which is 56.2% above where the stock closed yesterday.
Karyopharm Therapeutics, Inc. is a clinical-stage pharmaceutical company. It is focused on the discovery and development of novel first-in-class drugs directed against nuclear transport targets for the treatment of cancer and other major diseases. Its selective inhibitors of nuclear export compounds function by preventing the export of tumor suppressor proteins from the nucleus of a cell.