In a recent transaction reported to the Securities and Exchange Commission, Richard A. Paulson, the President and CEO of Karyopharm Therapeutics Inc. (NASDAQ:KPTI), sold 3,620 shares of the company's common stock. The shares were sold at a price of $0.81 each, totaling approximately $2,932. According to InvestingPro data, the company maintains impressive gross profit margins of 89%, though it currently operates with a significant debt burden. The stock appears undervalued based on InvestingPro's Fair Value analysis.
This transaction was conducted as part of a pre-established automatic sale instruction plan, which was put in place by Paulson on June 10, 2021. The sale was executed to cover the withholding tax liability incurred upon the vesting of restricted stock units, and it does not reflect a discretionary trade by Paulson. Following this sale, Paulson retains ownership of 1,128,312 shares in the company, representing a significant stake in the $96 million market cap company. For deeper insights into insider trading patterns and comprehensive financial analysis, explore InvestingPro, which offers exclusive access to detailed Pro Research Reports for over 1,400 US stocks.
In other recent news, Karyopharm Therapeutics has made significant strides in both its leadership and clinical trials. The company recently promoted Kristin Abate to Vice President, Chief Accounting Officer, and Assistant Treasurer. Abate, who has been with the company since July 2019, brings over 15 years of finance experience to the role.
On the clinical front, Karyopharm has reported noteworthy updates on its Phase 3 trials, particularly the SENTRY trial for myelofibrosis and the ECO-042 trial for endometrial cancer. These trials show promise and target annual U.S. peak revenues of $1 billion each. Top-line data for both trials are expected in the second half of 2025 and early 2026, respectively.
Karyopharm's Q3 2024 revenues reached $38.8 million, and the company has narrowed its 2024 revenue guidance to $145 million to $155 million. Despite a slight decline in net U.S. XPOVIO revenue compared to the previous year, total revenue is up from Q3 2023, indicating consistent growth in net product revenue. These are recent developments, and Karyopharm expects to maintain operations into Q1 2026 with its current financial resources.
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