v3.25.2
Nature of Business, Basis of Presentation and Segment Information (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 8-03. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the three and six months ended June 30, 2025 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2025. For further information, refer to the financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission on February 19, 2025 (“Annual Report”).

On February 25, 2025, we effected a 1-for-15 reverse stock split of our common stock (the “Reverse Stock Split”). All share and per share amounts in these condensed consolidated financial statements and notes thereto, including the conversion rates of convertible debt and the exercise price of common stock warrants, have been adjusted retroactively to reflect the Reverse Stock Split for all periods presented.
Basis of Consolidation

Basis of Consolidation

The condensed consolidated financial statements as of June 30, 2025 include the accounts of Karyopharm Therapeutics Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The significant accounting policies used in preparation of these condensed consolidated financial statements in this Form 10-Q are consistent with those discussed in Note 2, “Summary of Significant Accounting Policies,” in our Annual Report.
Segment Information

Segment Information

Operating segments are defined as components of an enterprise whose operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”) to allocate resources and assess performance. We view our operations and manage our business as a single operating segment, which is the business of discovering, developing and commercializing drugs to treat cancer. All our revenue and all our long-lived assets are attributable to our single operating segment and to Karyopharm Therapeutics Inc., which is domiciled in the United States.

Our CODM is our Chief Executive Officer who uses net loss as reported on the condensed consolidated statements of operations to monitor budget versus actual results and to ensure we have sufficient capital resources to develop and seek regulatory approval of our product candidates. The following table presents the significant revenue and expense categories in our single operating segment:

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

Revenue from external customers

 

$

37,929

 

 

$

42,786

 

 

$

67,944

 

 

$

75,912

 

 

Cost of sales (1)

 

 

(1,015

)

 

 

(1,403

)

 

 

(2,270

)

 

 

(3,260

)

 

Research and development expenses (2)

 

 

(33,635

)

 

 

(39,001

)

 

 

(69,199

)

 

 

(74,327

)

 

Commercial expenses (2)

 

 

(12,180

)

 

 

(12,890

)

 

 

(24,664

)

 

 

(26,166

)

 

General and administrative expenses (2)

 

 

(11,702

)

 

 

(12,202

)

 

 

(22,110

)

 

 

(23,658

)

 

Other segment (expenses) income (3)

 

 

(16,649

)

 

 

46,502

 

 

 

(10,415

)

 

 

37,929

 

 

Net (loss) income of our single operating segment

 

$

(37,252

)

 

$

23,792

 

 

$

(60,714

)

 

$

(13,570

)

 

(1) Excludes stock-based compensation expense

(2) Excludes stock-based compensation expense and the effects of certain allocations of certain expenses

(3) Includes total other income (expense), net and income tax provision on the condensed consolidated statements of operations and stock-based compensation expense