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Friday, March 6, 2020

-=Long trade : Karyopharm Therapeutics Inc. (KPTI) +50% (3/20)

Karyopharm's stock jumps on trial results for multiple myeloma combo candidate

Shares of Karyopharm Therapeutics Inc. (KPTI) soared 65% in trading on Monday after the drugmaker said an experimental combination treatment for multiple myeloma met its primary endpoint in a late-stage clinical trial. The combination pairs Karyopharm's Xpovio, which received Food and Drug Administration approval in mid-2019, with Velcade and low-dose dexamethasone. Velcade is marketed by Takeda Pharmaceutical Company Ltd. (TAK). The progression-free survival was about 14 months, up from about nine months reported by patients undergoing the standard of care. A number of new multiple myeloma treatments have come to market in recent years, including Sanofi's (SNY) Sarclisa, which received FDA approval on Sunday. Karyopharm's stock is up 525% over the past year, compared with the Health Care Select Sector SPDR Fund XLV, -0.53%, which has gained 1%.

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