Biotech Premarket Movers: Karyopharm, Lexicon, Prothena

Shares of Karyopharm Therapeutics (KPTI) were down 18% to $11.34 in premarket trading on Friday. The Newton, Mass.-based company after the market close on Thursday announced the results from an interim analysis of a phase two study of single agent selinexor in relapsed/refractory acute myeloid leukemia (AML).

"The Company determined in concert with the study's independent Data Safety Monitoring Board (DSMB) that SOPRA will not reach statistical significance for overall survival (OS), the study's primary endpoint,"   Karyopharm  said. "However, since selinexor-treated patients that achieved a complete response (CR) showed a substantial OS benefit as compared with the physician's choice (PC) arm, Karyopharm and the DSMB agreed that patients would be permitted to continue on the selinexor arm or the PC arm, as applicable, following discussion between the patient and their treating physician."

Karyopharm said it intends to continue clinical development of selinexor in AML via investigator sponsored trials in multiple combination regimens.

Meanwhile, Lexicon Pharmaceuticals (LXRX) shares rose 5.5% to $15.90. The Woodlands, Texas-based company on Friday reported a fourth-quarter net loss of $32.4 million, or 31 cents a share, compared to a net profit of $86.8 million, or 76 cents per diluted share, in the year-ago period.

Revenue for the quarter was $23 million, down from $127.3 million in the same period last year, mainly due to the "recognition of revenues from the upfront payment received under the collaboration and license agreement with Sanofi," Lexicon said.

The release of Lexicon's results comes after the company said on Tuesday that the U.S. Food and Drug Administration has approved Xermelo (telotristat ethyl) 250 mg as an orally administered therapy for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog (SSA) therapy in adults inadequately controlled by SSA therapy.

Among the other stock movers is Prothena (PRTA) , whose shares were down 4.3% to $57.50. The Dublin, Ireland-based company, which focuses on protein immunotherapies, on Friday said it sold 2.7 million shares at $57.50 apiece. Prothena has given the underwriter a 30-day option to buy up to an additional 405,000 of its ordinary shares.

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