Karyopharm Therapeutics Inc (NASDAQ:KPTI) Reports Preliminary Unaudited XPOVIO Net Product Sales of Approximately $18.5 Million for Q2 2020

While no one is immune to contracting the global coronavirus, Karyopharm Therapeutics Inc (NASDAQ:KPTI) says it has been putting together every effort to bring forth advanced therapies and vaccines. Earlier on, the FDA approved the company’s filing of its supplemental New Drug Application (sNDA), XPOVIO® (selinexor).

According to CEO Sharon Shacham, this takes the company closer to another milestone of being to offer solutions to the larger patient population fighting multiple myeloma. If the latest preliminary unaudited Q2 2020 net product sales for XPOVIO is anything to go by, the oral Selective Inhibitor of Nuclear Export (SINE) compound is doing well.

Net Product Sales of XPOVIO Gain A 15% Increase

COVID-19-related operational challenges have hit every business. Karyopharm had to divert health resources unexpectedly to manage the unfolding events resulting from the pandemic. It also had to reduce its field force in-person activities significantly. However, the announcing of the preliminary unaudited sales by Karyopharm shows transparency to the shareholders and the investment community, especially during these uncertain times.

Nonetheless, due to an increased demand for XPOVIO tablets from the community-based and academic physicians, there was an increase of 15% of net sales in Q2 2020 compared to Q1 2020. Based on initial unaudited financial information, the company is optimistic about making $18.5 million in net product sales of XPOVIO.

Karyopharm Collaboration with the National Cancer Institute

The innovation-driven company has been working with the National Cancer Institute (NCI) under the Cancer Therapy Evaluation Program (CTEP) to advance the research for XPOVIO. The Cooperative Research and Development Agreement (CRADA) dictates that NCI and Karyopharm will continue to study and investigate the safety and efficacy of XPOVIO.

According to the Chief Medical Officer of Karyopharm, Jatin Shah, working with NCI will give them remarkable prospects for scientific advancement. NCI has the expertise, and the studies carried out under the duo’s partnership to identify combinations and indications, which hold greater chances of clinical success. Meanwhile, NCI is also likely to support non-clinical studies for future combinations of XPOVIO.