What: Karyopharm Therapeutics (NASDAQ:KPTI) treated its investors to a prosperous November. Shares of the clinical-stage biotech soared 33% higher during the month, according to data from S&P Capital IQ.
So what: In November, Karyopharm reported a quarterly net loss of $0.85 per share, which compared favorably to the $0.90 loss that analysts expected. The company also continues to boast a strong balance sheet that holds more than $230 million in cash. Management currently believes it has enough funding to run operations into 2018.
Of course, while investors certainly want to keep an eye on cash burn, financial updates are less important at this point than clinical progress. Kayropharm's lead compound, selinexor, continues to take center stage. While the company didn't have any new details to share, it appears that a reminder of its recent clinical progress was enough to get shares moving in the right direction.
Now what: One of the more recent clinical updates relates to its new phase 1b/2 study, which is evaluating selinexor with low-dose dexamethasone as a treatment for multiple myeloma. Karyopharm is testing this combination alongside a handful of other currently available multiple myeloma treatments that include two of Celgene's (NASDAQ:CELG) best-selling treatments, Revlimid and Pomalyst. While this test has only just begun, it's clear that investors are excited about the potential of combining selinexor with Celgene's best-selling drugs. If this combination proved to be an effective treatment, then it's possible that Celgene could seek to establish an official partnership with Karyopharm down the road, just like it has done with other small players in cancer research.
All in all, it was a good month to be an investor in Karyopharm, as the company's impressive pipeline continues to advance. Given its huge cash balance and many ongoing clinical programs, Karyopharm has captured my attention -- I'll be watching its progress going forward.