Why Karyopharm Therapeutics Stock Is Falling Today
Shares of Karyopharm Therapeutics (NASDAQ: KPTI), a biopharmaceutical company, are sputtering today in response to lackluster clinical trial results for the company's lead drug. Investors worried about Xpovio's ability to reach a new patient population pushed the stock 21.8% lower as of 12:37 p.m ET on Tuesday.
In 2019, the Food and Drug Administration (FDA) approved Karyopharm's first drug, Xpovio, to treat multiple myeloma. Today the company reported fourth-quarter Xpovio sales that rose 29% year over year to $98.4 million.
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Source Fool.com
