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Targeting Disease at the Nuclear Pore |
Net product revenue: Net product revenue for the first quarter of 2024 was $26.0 million,
compared to $28.3 million for the first quarter of 2023.
License and other revenue: License and other revenue for the first quarter of 2024
was $7.1 million, compared to $10.4 million for the first quarter of 2023. The decrease was primarily due to $3.5 million of license-related revenue recognized from the Menarini Group (Menarini) during the three months ended
March 31, 2023, partially offset by a $1.0 million increase in revenue for the reimbursement of development-related expenses from Menarini due to a corresponding increase in the underlying expenses during the three months ended
March 31, 2024.
Cost of sales: Cost of sales for the first quarter of 2024 was $1.9 million, compared to $1.4 million for the first
quarter of 2023. Cost of sales reflects the costs of XPOVIO units sold and the costs of products sold to our partners.
Research and development
(R&D) expenses: R&D expenses for the first quarter of 2024 were $35.4 million, compared to $32.3 million for the first quarter of 2023. The increase was primarily due to higher clinical trial costs related to the advancement of
our three pivotal Phase 3 programs during the three months ended March 31, 2024.
Selling, general and administrative (SG&A) expenses:
SG&A expenses for the first quarter of 2024 were $29.5 million, compared to $35.9 million for the first quarter of 2023. The decrease was primarily due to our ongoing cost reduction initiatives and lower headcount.
Interest income: Interest income for the first quarter of 2024 was $2.2 million, compared to $2.8 million for the first quarter of 2023.
Interest expense: Interest expense for the first quarter of 2024 was $5.9 million, compared to $5.8 million for the first quarter of 2023.
Net loss: Karyopharm reported a net loss of $37.4 million, or $0.32 per share, for the first quarter of 2024, compared to a net loss of
$34.1 million, or $0.30 per share, for the first quarter of 2023.
Cash position: Cash, cash equivalents, restricted cash and investments as
of March 31, 2024 totaled $149.3 million, compared to $192.4 million as of December 31, 2023.
2024 Financial Outlook
Based on its current operating plans, Karyopharm reaffirms the following for full year 2024:
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Total revenue to be in the range of $140.0 million to $160.0 million. Total revenue consists of U.S.
XPOVIO net product revenue and license, royalty and milestone revenue earned from partners. |
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U.S. XPOVIO net product revenue to be in the range of $100.0 million to $120.0 million.
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R&D and SG&A expenses to be in the range of $260.0 million to $280.0 million, which includes
approximately $20.0 million to $25.0 million of estimated non-cash stock-based compensation expense. |
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