Karyopharm Therapeutics
KPTI on Nasdaq. Market value $15m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 97 funds in all.
Largest holders overall
- RA Capital Management, L.P.$19m
- Adage Capital Partners GP, L.L.C.$15mCut
- Acorn Capital Advisors$15mAdded
- Goldman Sachs Group$14mAdded
- BlackRock$14mAdded
- Kalehua Capital Management$13mNew
- Vanguard Capital Management$9mAdded
- Catalio Capital Management, LP$9mAdded
- Avidity Partners Management LP$9m
- T. Rowe Price Investment Management$8mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
11 investors own more than 5%.
- RA Capital Management, L.P.Passive investorat least 9.9%0.0 pts(filed with 3 related holders)Since 30 June 2026
- Affinity Asset Advisors, LLCPassive investorat least 8.6%0.0 pts(filed with 1 related holder)Since 31 March 2026
- Affinity Healthcare Fund, LPPassive investor7.8%Since 3 April 2025
- Adage Capital Management, L.P.Passive investorat least 6.8%−1.3 pts(filed with 2 related holders)Since 30 June 2026
- T. Rowe Price Investment Management, Inc.Passive investor6.6%−5.2 ptsSince 31 May 2026
- THE GOLDMAN SACHS GROUP, INC.Passive investorat least 6.3%+1.2 pts(filed with 1 related holder)Since 30 June 2026
- Anders HovePassive investorat least 5.7%0.0 pts(filed with 4 related holders)Since 22 September 2026
- Integrated Core Strategies (US) LLCPassive investorat least 5.7%+3.4 pts(filed with 3 related holders)Since 31 August 2026
- BlackRock, Inc.Passive investor5.6%Since 30 June 2026
- J. Wood Capital Advisors LLCPassive investorat least 5.0%(filed with 1 related holder)Since 14 October 2025
- Opaleye Management Inc.Passive investorat least 2.7%−6.8 pts(filed with 2 related holders)Since 31 March 2026
- HIGHBRIDGE CAPITAL MANAGEMENT, LLCPassive investorSold down below 5%Since 30 September 2025
- JPMORGAN CHASE & CO.Passive investorSold down below 5%Since 30 September 2025
- The Vanguard GroupPassive investorSold down below 5%Since 30 September 2025
- Commodore Capital LPPassive investorSold down below 5%Since 30 June 2026
- Ikarian Capital, LLCPassive investorSold down below 5%Since 31 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
RA Capital Management, L.P. Passive investor | at least 9.9%0.0 pts (filed with 3 related holders) | 30 June 2026 | |
Affinity Asset Advisors, LLC Passive investor | at least 8.6%0.0 pts (filed with 1 related holder) | 31 March 2026 | |
Affinity Healthcare Fund, LP Passive investor | 7.8% | 3 April 2025 | |
Adage Capital Management, L.P. Passive investor | at least 6.8%−1.3 pts (filed with 2 related holders) | 30 June 2026 | |
T. Rowe Price Investment Management, Inc. Passive investor | 6.6%−5.2 pts | 31 May 2026 | |
THE GOLDMAN SACHS GROUP, INC. Passive investor | at least 6.3%+1.2 pts (filed with 1 related holder) | 30 June 2026 | |
Anders Hove Passive investor | at least 5.7%0.0 pts (filed with 4 related holders) | 22 September 2026 | |
Integrated Core Strategies (US) LLC Passive investor | at least 5.7%+3.4 pts (filed with 3 related holders) | 31 August 2026 | |
BlackRock, Inc. Passive investor | 5.6% | 30 June 2026 | |
J. Wood Capital Advisors LLC Passive investor | at least 5.0% (filed with 1 related holder) | 14 October 2025 | |
Opaleye Management Inc. Passive investor | at least 2.7%−6.8 pts (filed with 2 related holders) | 31 March 2026 | |
HIGHBRIDGE CAPITAL MANAGEMENT, LLC Passive investor | Sold down below 5% | 30 September 2025 | |
JPMORGAN CHASE & CO. Passive investor | Sold down below 5% | 30 September 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 30 September 2025 | |
Commodore Capital LP Passive investor | Sold down below 5% | 30 June 2026 | |
Ikarian Capital, LLC Passive investor | Sold down below 5% | 31 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $349,774.
- Abate KristinChief Accounting OfficerSold
- Date
- 1 October 2026
- Shares
- 378
- Price
- $1.19
- Value
- $450
- Abate KristinChief Accounting OfficerSold
- Date
- 1 September 2026
- Shares
- 19
- Price
- $2.02
- Value
- $38
- Poulton StuartEVP, Chief Development OfficerSold
- Date
- 28 July 2026
- Shares
- 189
- Price
- $7.10
- Value
- $1,342
- Poulton StuartEVP, Chief Development OfficerSold
- Date
- 14 May 2026
- Shares
- 403
- Price
- $9.50
- Value
- $3,829
- Rangwala ReshmaEVP & Chief Medical OfficerSold
- Date
- 14 May 2026
- Shares
- 408
- Price
- $9.50
- Value
- $3,876
- Cheng Sohanya RoshanEVP & Chief Commercial OfficerSold
- Date
- 14 May 2026
- Shares
- 324
- Price
- $9.50
- Value
- $3,078
- Abate KristinChief Accounting OfficerSold
- Date
- 14 May 2026
- Shares
- 53
- Price
- $9.50
- Value
- $504
- Paulson Richard A.President and CEO, DirectorSold
- Date
- 14 May 2026
- Shares
- 2,203
- Price
- $9.50
- Value
- $20,929
- Mano MichaelEVP, CLO&SecretarySold
- Date
- 14 May 2026
- Shares
- 266
- Price
- $9.50
- Value
- $2,527
- Rangwala ReshmaEVP & Chief Medical OfficerSold
- Date
- 21 April 2026
- Shares
- 449
- Price
- $8.94
- Value
- $4,014
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Abate Kristin Chief Accounting Officer | Sold | 378 | $1.19 | $450 |
| 1 September 2026 | Abate Kristin Chief Accounting Officer | Sold | 19 | $2.02 | $38 |
| 28 July 2026 | Poulton Stuart EVP, Chief Development Officer | Sold | 189 | $7.10 | $1,342 |
| 14 May 2026 | Poulton Stuart EVP, Chief Development Officer | Sold | 403 | $9.50 | $3,829 |
| 14 May 2026 | Rangwala Reshma EVP & Chief Medical Officer | Sold | 408 | $9.50 | $3,876 |
| 14 May 2026 | Cheng Sohanya Roshan EVP & Chief Commercial Officer | Sold | 324 | $9.50 | $3,078 |
| 14 May 2026 | Abate Kristin Chief Accounting Officer | Sold | 53 | $9.50 | $504 |
| 14 May 2026 | Paulson Richard A. President and CEO, Director | Sold | 2,203 | $9.50 | $20,929 |
| 14 May 2026 | Mano Michael EVP, CLO&Secretary | Sold | 266 | $9.50 | $2,527 |
| 21 April 2026 | Rangwala Reshma EVP & Chief Medical Officer | Sold | 449 | $8.94 | $4,014 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Karyopharm Therapeutics’ filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 13 Feb 2026, plus the 10-Q filed 13 Aug 2026 and 12 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“Based on our current business plan and current capital resources, combined with the uncertainty regarding the availability of additional funding or other strategic alternatives and considering our debt service obligations and financial covenant to maintain minimum liquidity, we have concluded that there is substantial doubt regarding our ability to continue as a going concern within one year after the date the accompanying condensed consolidated financial statements are issued.”
Show the full paragraph
We have historically financed our operations primarily through a combination of proceeds from (i) product revenue sales; (ii) public and private placements of equity securities; (iii) the issuance of convertible debt; (iv) a term loan; (v) our deferred royalty obligation; (vi) at the market offerings; and (vii) business development activities. As of June 30, 2026, we had $ 65.1 million of cash, cash equivalents, and investments and an accumulated deficit of $ 1.8 billion. We have incurred significant operating losses since our inception and we anticipate that we will continue to incur significant operating losses to support our continued operations and maintain our research and development programs, including as we continue to develop and seek regulatory approval of selinexor for myelofibrosis. As a result, our continued operations are dependent on our ability to raise additional funding or enter into other strategic alternatives and marketing XPOVIO in its currently approved indications. Based on our current business plan and current capital resources, combined with the uncertainty regarding the availability of additional funding or other strategic alternatives and considering our debt service obligations and financial covenant to maintain minimum liquidity, we have concluded that there is substantial doubt regarding our ability to continue as a going concern within one year after the date the accompanying condensed consolidated financial statements are issued.
From the 10-Q filed 13 August 2026, Part I, Item 1. Financial Statements. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.