Here are 1-2 brief analogies to describe Karyopharm Therapeutics:

• Karyopharm is like a Vertex Pharmaceuticals for cancer, but specializing in a unique class of nuclear export inhibitor drugs.
• Karyopharm is a biotech pioneering a novel cancer treatment methodology, similar to how CRISPR Therapeutics pioneered gene editing, but Karyopharm focuses on inhibiting nuclear export in cancer cells.

• XPOVIO: A selective inhibitor of nuclear export (SINE) compound used to treat adult patients with multiple myeloma and relapsed or refractory diffuse large B-cell lymphoma.
• NEXPOVIO: The brand name for Karyopharm's SINE compound in Europe, Latin America, and other licensed territories for human oncology indications.

Major Customers of Karyopharm Therapeutics (KPTI)

Karyopharm Therapeutics Inc. (KPTI), as a commercial-stage pharmaceutical company, primarily sells its products and intellectual property to other companies within the healthcare sector rather than directly to individuals.

Based on the provided description, the major identified customer company is:

• Menarini Group: Karyopharm has a license agreement with Menarini Group to develop and commercialize NEXPOVIO (Karyopharm's drug, selinexor) for human oncology indications in Europe, the United Kingdom, Latin America, and other countries. Menarini Group is a private company and does not have a public stock symbol.

While Karyopharm also commercializes its lead compound, XPOVIO, in other markets (such as the United States), the specific names of other direct customer companies, such as pharmaceutical wholesalers, hospitals, or large pharmacy chains, are not provided in the background information.

Richard Paulson, MBA

President and Chief Executive Officer

Mr. Paulson was appointed President and Chief Executive Officer of Karyopharm in May 2021 and has served on Karyopharm's Board of Directors since February 2020. He previously served as Executive Vice President of Ipsen Pharmaceuticals Inc. and CEO of Ipsen North America from February 2018 to May 2021. Before Ipsen, he had a 10-year career at Amgen, holding various leadership positions across Europe and North America, including Vice President and General Manager of Amgen's U.S. Oncology Business Unit. Prior to Amgen, Mr. Paulson held global leadership positions at Pfizer Inc., such as General Manager of Pfizer South Africa and Pfizer Czech Republic, and held sales, marketing, and market access roles at GlaxoWellcome in Canada.

Lori Macomber, CPA

Executive Vice President, Chief Financial Officer and Treasurer

Ms. Macomber was appointed Executive Vice President, Chief Financial Officer, and Treasurer, effective January 3, 2025. She brings over 20 years of diversified experience in leading growth and driving financial strategies for life science companies. Most recently, she served as Chief Financial Officer at Legend Biotech Corporation, a publicly traded, commercial-stage biopharmaceutical company. Her prior experience includes leadership roles of increasing responsibility with Ametek PDS, Cello Health, Eli Lilly and Company, and Pfizer (formerly Pharmacia).

Reshma Rangwala, MD, PhD

Chief Medical Officer & Head of Research

Dr. Rangwala is the Chief Medical Officer and Head of Research at Karyopharm, overseeing all aspects of research from discovery to regulatory approval. She joined the company in April 2022. Prior to Karyopharm, she was the Chief Medical Officer at Aravive, where she led the clinical development of batiraxcept. She also served as Vice President, Medical, at Genmab, leading a clinical development program for an antibody drug conjugate, and as Executive Clinical Director at Merck & Co., involved in the clinical development of KEYTRUDA.

Sohanya Cheng, MBA

Executive Vice President, Chief Commercial Officer and Head of Business Development

Ms. Cheng serves as the Executive Vice President, Chief Commercial Officer and Head of Business Development for Karyopharm Therapeutics.

Mike Mano, JD

Executive Vice President, Chief Legal Officer and Secretary

Mr. Mano serves as the Executive Vice President, Chief Legal Officer and Secretary for Karyopharm Therapeutics.

The key risks to Karyopharm Therapeutics (KPTI) are:

• Going Concern and Financial Instability: Karyopharm Therapeutics has incurred significant operating losses and an accumulated deficit, leading management to conclude there is substantial doubt about its ability to continue as a going concern beyond the second quarter of 2026 without additional funding. The company had approximately $63.7 million in cash, cash equivalents, and investments as of December 31, 2025, which is projected to fund operations only into the second quarter of 2026.
• Clinical Trial and Regulatory Success: The future success of Karyopharm heavily depends on the positive outcomes of its ongoing Phase 3 clinical trials, particularly the SENTRY trial in myelofibrosis and the XPORT-EC-042 trial in endometrial cancer, with top-line data expected in 2026. Additionally, XPOVIO's accelerated approval for diffuse large B-cell lymphoma (DLBCL) carries the risk that confirmatory trials may fail, potentially leading to the withdrawal of this indication by the FDA.
• Commercialization Challenges and Competition: Karyopharm faces significant challenges in successfully commercializing XPOVIO in a competitive market. The company's ability to achieve profitability relies on obtaining sufficient pricing, coverage, and reimbursement from payers. Revenue trends have been stagnant, with full-year 2024 revenue essentially flat compared to the previous year, indicating difficulties in meaningfully growing XPOVIO sales in its currently approved indications.

The addressable markets for Karyopharm Therapeutics' main products, XPOVIO (selinexor) and NEXPOVIO, are as follows:

Multiple Myeloma (Relapsed or Refractory)

• Global Market: The global refractory multiple myeloma market size reached USD 2.4 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 3.4 billion by 2030.
• North American Market: North America accounted for approximately 42.7% of the global refractory multiple myeloma market share in 2022.
• European Market: NEXPOVIO (selinexor) has received conditional marketing authorization and subsequently full marketing authorization in Europe for the treatment of multiple myeloma. Karyopharm has a licensing agreement with Menarini Group for the commercialization of NEXPOVIO in Europe, among other territories.

Diffuse Large B-cell Lymphoma (Relapsed or Refractory)

• Global Market: The global Relapsed or Refractory Diffuse Large B-cell Lymphoma market was valued at USD 1.89 billion in 2025 and is expected to reach USD 2.21 billion by 2033, growing at a CAGR of 8.1% during the forecast period (2026-2033).
• North American Market: North America dominated the Relapsed or Refractory Diffuse Large B-cell Lymphoma market with the largest revenue share of 39.1% in 2025. The U.S. Relapsed or Refractory Diffuse Large B-cell Lymphoma market captured the largest revenue share of 82% in 2025 within North America.

Karyopharm Therapeutics (NASDAQ: KPTI) is poised for future revenue growth over the next two to three years, driven by the potential expansion of its lead compound, XPOVIO (selinexor), into new indications and continued penetration in existing markets.

Here are 3-5 expected drivers of future revenue growth:

1. Launch and uptake of XPOVIO in Myelofibrosis: Top-line data from the Phase 3 SENTRY trial in myelofibrosis is anticipated in March 2026. Successful results could lead to regulatory filings and the rapid launch of XPOVIO as the first combination therapy in this market, which management views as a significant near-term value driver due to high unmet medical need and a less crowded competitive landscape compared to multiple myeloma.
2. Launch and uptake of XPOVIO in Endometrial Cancer: Karyopharm expects to report top-line data in mid-2026 from the Phase 3 XPORT-EC-042 trial evaluating selinexor in a biomarker-driven patient population with advanced or recurrent endometrial cancer. This represents another significant opportunity for expanding XPOVIO's market reach and transforming patient outcomes in an area with limited treatment options.
3. Sustained growth and increased adoption of XPOVIO in Multiple Myeloma and Diffuse Large B-cell Lymphoma (DLBCL): While these are competitive markets, XPOVIO continues to demonstrate consistent demand, particularly in the community setting for multiple myeloma. Karyopharm anticipates continued revenue growth from its established U.S. sales of XPOVIO in these indications, leveraging its differentiated mechanism of action and oral convenience.
4. International expansion and global patient access for selinexor (NEXPOVIO): Karyopharm's partners are continuing to drive global launches of selinexor following favorable reimbursement decisions and regulatory approvals in numerous ex-U.S. territories, including Europe, Latin America, Spain, and China. This expanding global patient access contributes to overall revenue through license, royalty, and milestone payments.

Share Issuance

• A 1-for-15 reverse stock split was implemented on February 25, 2025, reducing outstanding shares from approximately 126.2 million to 8.4 million and authorized shares from 800 million to 53.3 million.
• In October 2025, as part of strategic financing transactions, Karyopharm Therapeutics exchanged approximately $15 million in convertible notes due 2029 and approximately $24.25 million in senior unsecured convertible notes (including accrued interest) for newly issued common stock or pre-funded warrants, along with warrants.
• Also in October 2025, a private placement of common stock and warrants generated approximately $8.8 million in proceeds.

Inbound Investments

• In October 2025, Karyopharm Therapeutics entered into comprehensive strategic financing transactions that were expected to provide $100 million of financial flexibility and additional capital. These transactions included $27.5 million in new term loan borrowings and new convertible notes.
• The October 2025 financing also involved $25 million of near-term deferrals of interest and royalty payments and a $15 million temporary reduction in the Company's minimum liquidity covenant.