Karyopharm Announces 1-for-15 Reverse Stock Split

Core Viewpoint - Karyopharm Therapeutics Inc. will implement a 1-for-15 reverse stock split to increase the per-share market price of its common stock, aiming to regain compliance with Nasdaq listing requirements [1][9]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 5:00 p.m. Eastern Time on February 25, 2025, and trading on a split-adjusted basis will begin on February 26, 2025 [1][2]. - The number of issued and outstanding shares will decrease from approximately 126.2 million to approximately 8.4 million shares, and authorized shares will reduce from 800 million to 53.33 million [3]. - Proportional adjustments will be made to equity incentive plans, outstanding equity awards, and convertible notes in accordance with their terms [3]. Group 2: Shareholder Impact - No fractional shares will be issued; instead, stockholders entitled to a fractional share will receive a cash payment [4]. - Stockholders holding shares electronically will not need to take action to receive post-split shares, while those with shares through banks or brokers will have their positions adjusted accordingly [5]. Group 3: Company Overview - Karyopharm Therapeutics is a commercial-stage pharmaceutical company focused on novel cancer therapies, particularly oral compounds addressing nuclear export dysregulation [7]. - The company's lead product, XPOVIO® (selinexor), is approved in the U.S. and marketed in multiple oncology indications, with regulatory approvals in various international markets [7].