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Karyopharm Therapeutics(KPTI) - 2024 Q3 - Quarterly Results
KPTIKaryopharm Therapeutics(KPTI)2024-11-05 12:41

Revenue Performance - Total revenue for Q3 2024 was 38.8million,anincreasefrom38.8 million, an increase from 36.0 million in Q3 2023[10] - U.S. XPOVIO net product revenue for Q3 2024 was 29.5million,comparedto29.5 million, compared to 30.2 million in Q3 2023[10] - License and other revenue for Q3 2024 was 9.3million,upfrom9.3 million, up from 5.8 million in Q3 2023, primarily due to 6.0millionmilestonerevenuefromMenarini[11]−Thecompanynarroweditsfull−year2024totalrevenueguidanceto6.0 million milestone revenue from Menarini[11] - The company narrowed its full-year 2024 total revenue guidance to 145.0 million to 155.0million[9]−U.S.XPOVIOnetproductrevenueguidancefor2024isnow155.0 million[9] - U.S. XPOVIO net product revenue guidance for 2024 is now 110.0 million to 115.0million[9]−TotalrevenueforthethreemonthsendedSeptember30,2024,was115.0 million[9] - Total revenue for the three months ended September 30, 2024, was 38.783 million, an increase from 36.009millioninthesameperiodof2023,representingagrowthof7.736.009 million in the same period of 2023, representing a growth of 7.7%[31] - Product revenue, net for the nine months ended September 30, 2024, was 83.554 million, down from 86.955millioninthesameperiodof2023,adecreaseof3.586.955 million in the same period of 2023, a decrease of 3.5%[31] Expenses - R&D expenses for Q3 2024 were 36.1 million, slightly up from 35.6 million in Q3 2023, driven by increased clinical trial costs[13] - SG&A expenses for Q3 2024 decreased to 27.6 million from 30.8millioninQ32023duetocostreductioninitiatives[14]−ResearchanddevelopmentexpensesforthethreemonthsendedSeptember30,2024,were30.8 million in Q3 2023 due to cost reduction initiatives[14] - Research and development expenses for the three months ended September 30, 2024, were 36.134 million, compared to 35.553millioninthesameperiodof2023,anincreaseof1.635.553 million in the same period of 2023, an increase of 1.6%[31] Net Loss - The company reported a net loss of 32.1 million for Q3 2024, an improvement from a net loss of 34.5millioninQ32023[17]−Thecompanyreportedanetlossof34.5 million in Q3 2023[17] - The company reported a net loss of 32.072 million for the three months ended September 30, 2024, compared to a net loss of 34.506millionforthesameperiodin2023,reflectinganimprovementof7.134.506 million for the same period in 2023, reflecting an improvement of 7.1%[31] Cash and Investments - Cash and investments as of September 30, 2024, totaled 133.9 million, down from 192.4millionattheendof2023[17]−Thecompanyhadcash,cashequivalents,andinvestmentsof192.4 million at the end of 2023[17] - The company had cash, cash equivalents, and investments of 133.526 million as of September 30, 2024, compared to 191.443millionasofDecember31,2023,areductionof30.2191.443 million as of December 31, 2023, a reduction of 30.2%[32] Assets and Liabilities - Total assets decreased to 189.476 million as of September 30, 2024, from 240.438millionasofDecember31,2023,adeclineof21.2240.438 million as of December 31, 2023, a decline of 21.2%[32] - Total liabilities as of September 30, 2024, were 349.123 million, down from $376.644 million as of December 31, 2023, a decrease of 7.3%[32] Clinical Trials and Safety - The Phase 3 SENTRY trial will now use Abs-TSS as a co-primary endpoint, expected to read out top-line data in 2H 2025[6] - The treatment discontinuation rate due to adverse reactions in patients with multiple myeloma receiving XVd was 19%[26] - Fatal adverse reactions in the BOSTON trial occurred in 6% of patients within 30 days of the last treatment[26] Product Approval - Karyopharm's lead compound, XPOVIO, is approved in the U.S. and has received regulatory approvals in various international markets, including Europe and China[28]