Karyopharm Therapeutics Inc. (KPTI:NASDAQ) finished enrolling participants for its Phase 3 SIENDO clinical trial, reported Edward White, analyst at H.C. Wainwright & Co., in a Dec. 2 research note. All 250 participants have primary stage IV or recurrent endometrial cancer and had a partial or complete response after at least a 12-week course of combination taxane-platinum chemotherapies.
The Massachusetts-based pharmaceutical firm offers investors significant potential return given that H.C. Wainwright's target price on it is $26 per share and Karyopharm is now trading at about $6.62 per share.
The analyst reviewed the study intent and design. SIENDO will evaluate the safety and efficacy of Xpovio, which binds and inhibits the nuclear export protein XPO1, as a maintenance therapy for endometrial cancer patients.
"We continue to believe that solid tumors offers a substantial opportunity for Xpovio that perhaps investors have not yet realized," White wrote. (Karyopharm is evaluating Xpovio in hematologic tumors, too.)
Each SIENDO participant will be randomized on a 2:1 basis to receive either Xpovio, an 80 mg maintenance dose once weekly, or placebo, until and if disease progresses. Progression-free survival is the primary endpoint; 0.6 is the targeted hazard ratio.
A readout of topline data from SIENDO is expected by the end of this year or in early 2022. Commercial launch of Xpovio in solid tumors then could happen in 2023, generating an estimated $26.7 million in its first year on the market, noted White.
H.C. Wainwright has a Buy rating on Karyopharm.
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I, Edward White , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Karyopharm Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of November 30, 2021 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Karyopharm Therapeutics, Inc. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Karyopharm Therapeutics, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Karyopharm Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Karyopharm Therapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request.
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