As per Catherine Hu from ML/BA "Need for additional financing: Selinexor is being evaluated in more than ten clinical trials, of which some are investigator sponsored and others company sponsored. Karyopharm held roughly $285 million in cash in 1Q15 following a $100 million equity raise in January. While management has indicated that the current cash will last through the initial launch phase into 2018, we believe Karyopharm may issue another equity raise following the read - out of some of its registrational trials in the second half of 2016.
Merrill Lynch / Bank American today initiated coverage on KPTI with a Neutral rating and a $32 price target. A prior ML/BA analyst of about three months ago had a BUY and a $50 plus price target. Following his departure ML/BA had a No Opinion on KPTI leading to the initiated coverage today. The current analyst brings up two very relevant considerations regarding KPTI. 1) safety concerns and 2) No catalyst until next year that could propel the stock. While I'm long and holding KPTI , I'm confident short sellers will be all over this one. Those two concerns are potent drivers.
EXAS is down today because investors are looking for better value than what is found in biotech. The whole group is off a good amount today.
I bought IRWD because I'm confident the Cologuard sales will be strong. EXAS reported, not too long ago Cologuard sales stronger than analysts had anticipated. While the IRWD sales force had not contribute to those sales, this quarter they will. I suspect the IRWD sales team will be greeted by Physicians interested in knowing more about Cologuard, and further strong scripts and revenues for both companies.
CEO Michael Kauffman highlighted the differentiated and broad mechanism of
action for Selinexor and the focus of the development program to get the drug on
the market as fast as possible and publish widely across multiple tumor types and
populations. To date, over 800 patients have been treated with Selinexor broadly
across numerous heme and solid tumor indications.
KPTI has 3 ongoing registration trials in AML, DLBCL and Richter’s with data expected in 2H16. The M
M registration trial will open shortly with top -
line data in 1H17. The company will have data at ASCO in 3 solid tumor indications: gynecological, sarcoma and glioblastoma (17% PR , 33% stable disease ) . While initial approval is likely to be as monotherapy,
Kauffman sees the longer - term opportunity in combination therapies, as Selinexor’s nuclear export blockade has been shown in pre-clinica