Insights

Why Karyopharm Therapeutics Inched Higher Today

What happened

The second quarter of biotech Karyopharm Therapeutics (NASDAQ: KPTI) was a good one, at least as far as its headline figures were concerned. On the back of revenue and earnings beats, investors bid up the company’s share price on the day…but only marginally, as the stock notched a less than 1% gain.

So what

Karyopharm, best known for its multiple myeloma treatment Xpovio, unveiled its quarterly figures early that morning.

These showed that the biotech took in nearly $39.7 million in revenue, bolstered by substantial gains in both product sales and licensing/other revenue. On the downside, the company’s net loss didn’t narrow by much, coming in at more than $49 million ($0.62) versus $53.6 million in the same quarter of 2021.

Nevertheless, analysts following the stock were collectively modeling slightly under $36 million for revenue. They made a rather good stab at net loss, though, as their average forecast was for a shortfall of $0.63 per share.

Of the all-important Xpovio, Karyopharm quoted its CEO Richard Paulson as saying that “Despite headwinds caused by COVID-19 at the beginning of the year and increased competition for later lines of multiple myeloma treatment, we continue to see increased use of Xpovio in earlier lines with growth in the community setting.”

Now what

Karyopharm updated its guidance for the entirety of 2022; it now feels it will book total revenue of $155 million to $165 million, on the back of Xpovio net product revenue of $120 million to $130 million. The latter range has been trimmed from the former $135 million to $145 million, which is likely a major reason investors didn’t react more positively to the company’s results.

The company did not proffer any net profit guidance.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info