Karyopharm XPOVIO gets FDA approval

Shares of Karyopharm Therapeutics Inc. KPTI, +36.03% soared 36% in very active trade Wednesday, enough to pace the Nasdaq exchange’s gainers, prior to a trading hold for news. The drug maker focused on cancer treatments disclosed after the close that the U.S. Food and Drug Administration has approved oral XPOVIO in combination with dexamethasone for the treatment of relapsed or refactory multiple myeloma in adult patients. Karyopharm expects XPOVIO to become commercially available in the U.S. on or before July 10, 2019. “With today’s accelerated approval of XPOVIO by the FDA, patients with heavily pretreated multiple myeloma will now have a new therapeutic option to treat their disease,” said Chief Scientific Officer Sharon Shacham. The stock can resume trading at 1:35 p.m. Eastern. The stock has still shed 5.1% year to date, while the S&P 500 SPX, +0.77% has gained 19.5%.

https://www.marketwatch.com/story/karyopharms-stock-soars-to-lead-nasdaq-gainers-before-halt-xpovio-gets-fda-approval-2019-07-03