Karyopharm Therapeutics Files Q2 2024 10-Q

TL;DR

Karyopharm's Q2 10-Q is in: financials and biz updates for shareholders.

AI Summary

Karyopharm Therapeutics Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details for the second quarter of 2024 are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Karyopharm Therapeutics, crucial for understanding the company's trajectory and investment potential.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Karyopharm faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 001-36167 — SEC File Number (Identifies the company's filing with the SEC.)
• 263931704 — IRS Number (Company's Internal Revenue Service identification number.)

Key Players & Entities

• Karyopharm Therapeutics Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-06 (date) — Filing date of the 10-Q
• 85 WELLS AVENUE, NEWTON, MA 02459 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.0001 — on which registered Common Stock , $0.0001 par value KPTI Nasdaq Global Select

Filing Documents

• kpti-20240630.htm (10-Q) — 2657KB
• kpti-ex31_1.htm (EX-31.1) — 11KB
• kpti-ex31_2.htm (EX-31.2) — 11KB
• kpti-ex32_1.htm (EX-32.1) — 7KB
• kpti-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-091210.txt ( ) — 9502KB
• kpti-20240630.xsd (EX-101.SCH) — 1301KB
• kpti-20240630_htm.xml (XML) — 1548KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 2 Item 1. Condensed Consolidated Financial Statements (Unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Stockholders' Deficit 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION 29 Item 1A.

Risk Factors

Risk Factors 29 Item 5. Other Information 76 Item 6. Exhibits 77

Signatures

Signatures 78 1 Table of Contents

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Condensed Consolid ated Financial Statements (Unaudited)

Item 1. Condensed Consolid ated Financial Statements (Unaudited). KARYOPHARM THERAPEUTICS INC. CONDENSED CONSOLIDAT ED BALANCE SHEETS (unaudited) (in thousands, except per share amounts) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 84,774 $ 52,231 Investments 67,350 139,212 Accounts receivable, net 37,995 26,962 Inventory 3,476 3,043 Prepaid expenses and other current assets 14,913 11,813 Restricted cash 32 660 Total current assets 208,540 233,921 Property and equipment, net 628 606 Operating lease right-of-use assets 3,171 4,276 Restricted cash 304 301 Other assets 1,334 1,334 Total assets $ 213,977 $ 240,438 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 2,797 $ 3,123 Accrued expenses 49,809 61,394 Operating lease liabilities 3,545 3,308 Other current liabilities 1,468 1,654 Total current liabilities 57,619 69,479 Convertible senior notes due 2025 24,359 170,919 Convertible senior notes due 2029 73,255 — Senior secured term loan 93,517 — Deferred royalty obligation 73,499 132,479 Common stock warrants 18,632 — Operating lease liabilities, net of current portion 955 2,789 Other liabilities 4,281 978 Total liabilities 346,117 376,644 Stockholders' deficit: Preferred stock, $ 0.0001 par value; 5,000 shares authorized; none issued and outstanding — — Common stock, $ 0.0001 par value; 400,000 shares authorized; 124,635 and 114,915 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 13 12 Additional paid-in capital 1,369,060 1,350,981 Accumulated other comprehensive loss ( 605 ) ( 161 ) Accumulated deficit ( 1,500,608 ) ( 1,487,038 ) Total stockholders' deficit ( 132,140 ) ( 136,206 ) Total liabilities and stockholders' deficit $ 213,977

View Full Filing

View this 10-Q filing on SEC EDGAR