Karyopharm to Cut About 20% of Workforce Amid Ongoing Review

Dow Jones

Jul 11, 2025

By Connor Hart

Karyopharm Therapeutics said it will further reduce its workforce by approximately 20% as part of its ongoing management of operating expenses.

The commercial-stage pharmaceutical company had 279 employees as of Feb. 14, according to the latest headcount available in filings with the Securities and Exchange Commission.

Karyopharm expects one-time expenses stemming from the layoffs to be immaterial. The company said Friday that it remains committed to expanding the use of its treatment for multiple myeloma, a type of blood cancer, as well as advancing ongoing trials for its treatments of myelofibrosis and endometrial cancer.

The company is continuing to evaluate various alternatives to extend its cash runway, and said it engaged with potential investors to discuss potential financing transactions. It is also evaluating a potential merger or sale of the company, in- or out-of-court restructurings, and other refinancings of existing debt, the company said.

Shares fell 16%, to $4.21, in premarket trading. Through Thursday's close, the stock has lost nearly two-thirds of its value in the past year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 11, 2025 08:21 ET (12:21 GMT)

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