Karyopharm Therapeutics (KPTI) Agreement Removes Finance Overhang - Baird

Baird analyst Michael Ulz reiterated an Outperform rating and $25.00 price target on Karyopharm Therapeutics (NASDAQ: KPTI) after the company announced a royalty agreement with Healthcare Royalty Partners for up to $150M ($75M upfront) in exchange for tiered mid-single digit royalties on worldwide sales of Xpovio.

"The deal provides non-dilutive cash to support the recent launch in RRMM and importantly extends the cash runway into the middle of 2021 from into 2H20 previously," Ulz commented. "We believe the agreement removes a financing overhang and validates broader potential of Xpovio in MM. Given our expectations for positive BOSTON results (YE19/early 2020), we reiterate our Outperform rating."

For an analyst ratings summary and ratings history on Karyopharm Therapeutics click here. For more ratings news on Karyopharm Therapeutics click here.

Shares of Karyopharm Therapeutics closed at $11.03 yesterday.

You May Also Be Interested In

• Karyopharm Therapeutics (KPTI) Misses Q2 EPS by $1.01, Beats on Revenue; Offers FY26 Revenue Guidance
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald