Leerink lowered the firm’s price target on Karyopharm (KPTI) to $6 from $8 and keeps a Market Perform rating on the shares. The firm notes the company announced that it has entered into strategic financing transactions that extend the cash runway into Q2 2026, which importantly takes them through the Phase III SENTRY readout in myelofibrosis. The company plans to finalize these financing and capital structure transactions on October 10th. As a result of these transactions, the company’s cash runway is extended into Q2 2026 vs. into January 2026 previously, which will support the company through the Phase III SENTRY trial data readout planned for March 2026. Leerink views these steps as likely necessary for the story given the company was operating under a constrained cash position that did not take them to the key SENTRY data readout.
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