Karyopharm secures $100 million in financing to extend cash runway

NEWTON, Mass. - Karyopharm Therapeutics Inc. (NASDAQ:KPTI) has secured financing transactions expected to provide $100 million in financial flexibility and additional capital, extending its cash runway into the second quarter of 2026, the company announced Wednesday. According to InvestingPro data, this financing comes at a crucial time as the company has been quickly burning through cash, with a negative free cash flow of $103 million in the last twelve months.

The comprehensive financing package includes $67.5 million through new term loans, convertible notes, payment deferrals, and a reduction in minimum liquidity requirements. Additionally, holders of approximately $24.25 million of the company’s senior unsecured convertible notes due October 15, 2025, have agreed to exchange their notes for newly issued common stock or pre-funded warrants. InvestingPro analysis shows the company operates with a significant debt burden, with total debt standing at $264 million as of the latest quarter.

Karyopharm has also entered a private placement agreement to sell 1.49 million shares of common stock and warrants to purchase 1.32 million additional shares, generating approximately $8.75 million in gross proceeds.

The transactions, expected to close around October 10, will result in the issuance of 7.22 million new shares of common stock and various warrants. Following completion, Karyopharm expects to have approximately 15.93 million shares of common stock outstanding.

The company reported preliminary third-quarter 2025 total revenue between $42-44 million, with U.S. XPOVIO net product revenue of approximately $32 million. Cash, cash equivalents, restricted cash and investments stood at approximately $46 million as of September 30, 2025, prior to the financing transactions. While the company maintains a high gross profit margin of 101%, InvestingPro research indicates analysts do not anticipate profitability this year, though three analysts have recently revised their earnings expectations upward. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.

Karyopharm’s Phase 3 SENTRY trial in myelofibrosis, which recently completed enrollment, is on track to deliver top-line data in March 2026. The trial evaluates selinexor in combination with ruxolitinib compared to placebo plus ruxolitinib in JAK inhibitor-naïve myelofibrosis patients.

"We believe that selinexor plus ruxolitinib has the potential to be the first combination therapy approved for the treatment of myelofibrosis," said Richard Paulson, President and Chief Executive Officer of Karyopharm, in the press release statement.

The company continues to explore additional financing and strategic alternatives with the assistance of its advisors, including financial advisor Centerview Partners LLC.

In other recent news, Karyopharm Therapeutics reported a decline in revenue for the second quarter of 2025, with total revenue dropping to $37.9 million from $42.8 million in the same period the previous year. Despite this overall decline, the company experienced a 6% year-over-year increase in net product revenue for XPOVIO, its primary product. Additionally, Karyopharm is facing liquidity challenges with a debt maturity approaching in October 2025. In terms of clinical developments, Karyopharm has completed enrollment in its Phase 3 SENTRY trial, which is evaluating the combination of selinexor and ruxolitinib for JAKi-naïve myelofibrosis patients. The trial has enrolled 353 patients, and top-line results are anticipated in March 2026. This study aims to determine if the addition of selinexor could potentially become the first approved combination therapy for myelofibrosis treatment. These developments highlight the company’s ongoing efforts to address both strategic financial and clinical challenges.

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