0001193125-26-049397
SEC filingKaryopharm Therapeutics Inc. reported a challenging fiscal year 2025, marked by a significant net loss of $196.0 million. While the company generated total revenue of $146.1 million from contracts with customers and licensing, operating expenses remained substantial at $236.8 million, driven by $125.6 million in research and development and $105.2 million in selling, general, and administrative costs. The financial results were heavily impacted by a $62.4 million loss on the extinguishment of debt and $45.8 million in interest expenses, contributing to a total other expense of $105.3 million. Consequently, the loss from operations stood at $90.7 million. On the balance sheet, the company faces a stockholders' deficit of $292.9 million and total liabilities of $401.3 million against total assets of $108.4 million. Cash flow from operating activities used $75.4 million, though financing activities provided $30.0 million, resulting in a total cash position of $60.5 million plus restricted cash. The basic and diluted net loss per share was $18.00.
For the fiscal year ended December 31, 2025, Karyopharm Therapeutics Inc. reported total revenue of $146.1 million. The company incurred a loss from operations of $90.7 million, resulting in a net loss of $196.0 million. This bottom-line result was significantly impacted by non-operating factors, specifically a $62.4 million loss on the extinguishment of debt and $45.8 million in interest expense. The basic and diluted net loss per share was $18.00. The weighted-average number of common shares outstanding used to compute the net loss per share was approximately 11,000 (as reported in the XBRL summary). The substantial net loss reflects both the high cost structure of the clinical-stage biopharmaceutical business and specific financial restructuring activities undertaken during the period.
The company reported $146.1 million in revenue from contracts with customers, license, and other revenue. The cost of sales was minimal at $5.9 million, suggesting a high-value mix of licensing revenue or low-cost-of-goods product sales. The XBRL data indicates revenue is categorized under "Revenue from contract with customer, license and other revenue," but specific segment breakdowns or product-level sales figures were not detailed in the provided data. The gross profit stood at $140.2 million, indicating strong underlying economics on the revenue generated, before the deduction of operating expenses.
Karyopharm displayed a strong gross margin of approximately 96.0% ($140.2M gross profit on $146.1M revenue). However, the company remains unprofitable at the operating level due to substantial investment in operations. Total operating expenses were $236.8 million, including $125.6 million in research and development and $105.2 million in selling, general, and administrative expenses. Consequently, the operating margin was -62.1%. The net profit margin was deeply negative at -134.2%, heavily influenced by the $105.3 million in total other expenses, primarily driven by debt extinguishment and interest costs.
The company's liquidity position shows constraints. Net cash used in operating activities was $75.4 million. Financing activities provided a net $30.0 million, primarily from proceeds of convertible debt ($15.0M), senior secured term loans ($12.2M), and equity offerings ($17.6M combined). The company held $60.5 million in cash and cash equivalents and $351,000 in restricted cash. Total assets were $108.4 million, while total liabilities reached $401.3 million, resulting in a stockholders' deficit of $292.9 million. Significant liabilities include $90.0 million in convertible senior notes due 2029 and a $72.3 million deferred royalty obligation.
The financial statements indicate a company actively managing a heavy debt load and high cash burn. The extinguishment of debt and issuance of new notes and term loans suggest a strategic restructuring of obligations. The accumulated deficit of $1.76 billion underscores the historical capital intensity of the business. While the company successfully raised capital through debt and equity in 2025, the negative stockholders' equity and ongoing operating cash burn present significant financial risks. No specific forward-looking guidance figures were provided in the XBRL data, but the financial activity implies a focus on extending liquidity runways and managing debt maturities.