Stock Markets March 24, 2026 07:32 AM

Karyopharm Shares Jump After Mixed Phase 3 SENTRY Readout

Spleen shrinkage met primary endpoint while symptom benefit missed; company cites overall survival signal and plans FDA discussion

By Maya Rios KPTI
Karyopharm Shares Jump After Mixed Phase 3 SENTRY Readout
KPTI

Karyopharm Therapeutics shares climbed 10% after the company reported mixed results from its Phase 3 SENTRY trial testing selinexor plus ruxolitinib in frontline myelofibrosis. The study met a co-primary endpoint for spleen volume reduction but failed to achieve the co-primary endpoint for symptom improvement. The company reported an encouraging overall survival hazard ratio and said it will pursue discussions with the FDA and move forward with a private placement expected to generate about $30 million in gross proceeds.

Key Points

  • Trial met co-primary endpoint for spleen volume reduction: 50% SVR35 at week 24 with combination vs 28% with ruxolitinib alone.
  • Symptom co-primary endpoint not met: combination arm showed a 9.89 point improvement vs 10.86 points for ruxolitinib alone, difference not statistically significant.
  • Company reported a favorable overall survival signal (hazard ratio 0.43) and plans to meet with the FDA; announced a private placement expected to raise about $30 million.

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw its stock rise 10% on Tuesday after announcing mixed outcomes from the Phase 3 SENTRY trial assessing selinexor in combination with ruxolitinib in patients with newly diagnosed myelofibrosis.

The trial achieved one of its two co-primary endpoints. Patients receiving the combination therapy showed a statistically significant improvement in spleen volume reduction versus ruxolitinib with placebo. By week 24, 50% of patients treated with selinexor plus ruxolitinib reached a 35% or greater reduction in spleen volume (SVR35), compared with 28% of those on ruxolitinib alone.

However, the study did not meet its second co-primary endpoint, which measured symptom improvement. Both arms experienced similar reductions in symptom burden from baseline, and the observed difference between arms did not reach statistical significance. Patients in the combination arm reported a 9.89 point improvement in absolute total symptom score, while those on ruxolitinib alone reported a 10.86 point improvement.

Investigators noted an encouraging overall survival signal in the dataset. The combination arm demonstrated a hazard ratio of 0.43 compared with ruxolitinib alone; Karyopharm said it will continue follow-up until overall survival data reach maturity.

Exploratory analyses provided additional context on potential disease modification. At week 24, 32% of patients in the combination arm achieved a 20% or greater reduction in variant allele frequency, versus 24% in the ruxolitinib-alone arm.

Safety findings were described as manageable, with no new safety signals identified. The most frequently reported adverse events in the selinexor plus ruxolitinib arm were thrombocytopenia (59%), anemia (57%), and nausea (57%).

Looking ahead, Karyopharm said it intends to engage the U.S. Food and Drug Administration to review the SENTRY data and discuss a potential supplemental new drug application filing. In parallel, the company announced a private placement with RA Capital Management that is expected to generate approximately $30 million in gross proceeds.


Context and next steps

The SENTRY trial's mixed readout leaves clear regulatory and clinical questions to resolve. Karyopharm's plan to consult with the FDA and continue overall survival follow-up reflects the company’s intent to clarify the regulatory path based on the totality of the data. The announced private placement will provide additional near-term liquidity as the company advances those discussions.

Risks

  • Failure to meet the symptom co-primary endpoint introduces regulatory uncertainty for any potential supplemental filing with the FDA - impacts the biotech and pharmaceutical sectors.
  • The long-term significance of the overall survival signal is not yet mature, requiring extended follow-up to determine durability - impacts investors evaluating clinical outcomes and potential approvals.
  • Adverse events were common in the combination arm, including thrombocytopenia (59%), anemia (57%) and nausea (57%), which could affect tolerability and commercial uptake - impacts clinical practice considerations and commercial prospects.

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