Boston, MA 03/10/2014 (wallstreetpr) – Reported quarterly and full year results: Karyopharm Therapeutics Inc (NASDAQ:KPTI) recently announced updates on its new studies and R&D measure’s outlook along with quarterly and financial year2013 results. Karyopharm reported a net loss of $33.9 million or -$5.59/ share (against -$8.95 per share in 2012). This net loss also includes the stock based compensation of $3.8 million, raised in the recent IPO. The company posted -$2.00 EPS for the current quarter. The company expended $28.5 million ($14.1 million in 2012) for its research and development during the FY13. The general administration expenses zoomed up close to double to $5.9 million from $2.4 million in FY12. The company plans to wider its Tumour development activity, which are in different stages of clinical tests.
Anticipation on Cash Balances and guidance: Cash balance as of December 13, stood at $156. Million, which was a private placement ($67.2 million) and IPO offering ($125.1 million) rose during the previous year. Karyopharm Therapeutics Inc (NASDAQ:KPTI) anticipates to hold sufficient cash balances to fund its R&D operations into early 2016. The company expects $100 million cash in hand by the end of 2014, despite of new and expensive studies in the hand, bringing in slight hope to the investors.
Upcoming Studies: Karyopharm Therapeutics Inc (NASDAQ:KPTI) also plans to register two randomized trials for AML and DLBCL study, consisting of patients over 60 years age, in the current fiscal year, and based on its phase one completion, it proposes to enroll 150 patients for its phase 2 trial. The company currently operates phase 2 trials for its five types of cancer and brain tumor. The company commented that it anticipates 20 investigator studies which will begin in FY14.
Recent updates: It recently announced initiation of Phase 1 study for Selinexor in Asian patients, currently in Singapore, with advanced and solid tumors. Based on the expectations three major analysts upgraded its estimates and price targets for Karyopharm Therapeutics Inc (NASDAQ:KPTI) which was followed by a upward movement in the market.
