KPTI
Karyopharm Therapeutics Inc.
Next earnings Aug 10, 2026 · consensus $-1.34 EPS, $33.8M rev
Last earnings +0.6% on 2026-05-14
$9.60
▼ -4.81%$9.60▲ +118.68%
over 1Y
L $3.77H $10.21
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-4.8%
1W+1.5%
1M+4.0%
3M+63.0%
YTD+33.5%
1Y+118.7%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 13 analysts
Buy
Insolvent biotech: negative equity, cash-burning, covered by dilutive PIK debt with cash interest starting June 2026 — uninvestable.
Stockholders' equity -$293M · FY2025
Karyopharm is a single-asset (selinexor) commercial biotech that has never turned a profit and is now balance-sheet insolvent. FY2025 stockholders' equity is -$293M against $401M of liabilities and just $108M of assets, an accumulated deficit of -$1.76B, and a -1.37x liabilities/equity ratio. Revenue has stalled at ~$146M (+0.6% YoY) after falling from $210M in FY2021, so the top line is not growing into the cost base: operating margin is -62.1% and net margin -134.2%. The company burned -$75.4M of operating cash in FY2025 while holding only $60.5M of cash — well under one year of runway on its own.
The filings show a company being kept alive by increasingly expensive, dilutive financing rather than by its business. Since October 2025 it layered on $15.0M of 9.00% senior secured second-lien convertible notes, a $12.5M add-on term loan at SOFR + 10.25%, and an $8.8M equity/warrant private placement priced at just $5.88 (below today's $9.60). Critically, interest on both the Amended Term Loan and the 2028 Notes is paid in kind through March 2026, with cash interest payments beginning June 30, 2026 — a looming step-up in cash outflow against a thin cash balance. The HCRx/KKR Revenue Interest Agreement is capped at $263.3M and the applicable royalty tier rises to 8.00% from April 2026 (HCRx only waived royalties for the April 2025–March 2026 window), so more of the flat revenue is spoken for going forward. A minimum-liquidity covenant of $10M (rising to $25M after October 10, 2026) sits directly on top of a $60.5M cash pile that is bleeding out.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 7:15 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is KPTI a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $210M | $157M | $146M | $145M | $146M |
| Gross profit | — | — | — | — | — |
| Operating income | -$98.3M | -$142M | -$130M | -$119M | -$90.7M |
| Net income | -$124M | -$165M | -$143M | -$76.4M | -$196M |
| Diluted EPS | -$1.65 | -$2.02 | -$18.79 | -$14.00 | -$17.93 |
| Net margin | -59.1% | -105.2% | -98.0% | -52.6% | -134.2% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$326M
EV / EBITDA—
EV / Sales2.2
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-90.1%
FCF yield-34.6%
Quality & risk
ROIC (est.)—
Free cash flow-$75.4M
Total debt$169M
Net cash-$109M
Altman Z-Score-23.69 distress
Piotroski F-Score3/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY-85.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Officer / director change2026-05-28
Annual meeting: directors elected, votes tallied; officer/board change disclosed
- 8-K Earnings results2026-05-14
Q1'26: negative equity, going-concern risk, continued operating losses
- 10-Q Quarterly report2026-05-14
Q1'26: negative equity, going-concern risk, continued operating losses
- S-3 Shelf registration (potential raise)2026-05-04
- S-3 Shelf registration (potential raise)2026-05-04
- DEF 14A Proxy statement2026-04-13
- 8-K Other event2026-03-27
Other corporate event disclosed (Item 8.01)
- 8-K Material agreement2026-03-24
Material agreement + unregistered share issuance — dilutive financing
- 8-K Material agreement2026-03-03
Entered new material definitive agreement; other event disclosed
Recent filings
all on EDGAR ↗SCHEDULE 13G/AFiling2026-06-05open ↗8-KPeriod ending 2026-05-212026-05-28open ↗S-8Filing2026-05-27open ↗S-8Filing2026-05-27open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗SCHEDULE 13GFiling2026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗
Frequently asked
- Is Karyopharm Therapeutics Inc. (KPTI) a buy?
- KPTI currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Insolvent biotech: negative equity, cash-burning, covered by dilutive PIK debt with cash interest starting June 2026 — uninvestable.
- What is Karyopharm Therapeutics Inc.'s quality score?
- KPTI scores 43.68406641374404/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001503802, latest 10-Q filed 2026-05-14) · EODHD · Proprietary analysis · as of 7/3/2026, 11:15:21 AM.
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