NEWTON,
Mass., Jan. 2, 2025 /PRNewswire/ -- Karyopharm
Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical
company pioneering novel cancer therapies, today announced the
appointment of Lori Macomber as
Executive Vice President, Chief Financial Officer and Treasurer,
effective January 3, 2025. In this
role, Ms. Macomber will be responsible for leading and directing
the financial activities of the Company.
"Lori is an outstanding addition to the Karyopharm team," said
Richard Paulson, President and Chief
Executive Officer of Karyopharm. "She brings extensive experience
in strategic financial management and operations, which will be
critical as we execute on our strategy to grow XPOVIO revenue and
maintain our disciplined expense management as we progress our
clinical pipeline."
"I am thrilled to join Karyopharm at this important stage as we
advance our pipeline of novel therapies and look forward to working
with the leadership team and contributing to the Company's
success," said Ms. Macomber. "I am impressed with both the team and
the science and I am excited to be a part of bringing much needed
therapies to patients."
Ms. Macomber has over 20 years of diversified experience in
leading growth and driving financial strategies for life science
companies. She has a proven track record in financial management
for companies ranging from start-up to Fortune 500 and has also
successfully supported various collaboration partnerships, business
development activities and licensing deals. Most recently, she
served as Chief Financial Officer at Legend Biotech Corporation, a
publicly traded, commercial-stage biopharmaceutical company.
Previously, Ms. Macomber held leadership roles of increasing
responsibility with Ametek PDS, Cello Health, Eli Lilly and
Company, and Pfizer (formerly Pharmacia). Ms. Macomber holds a
Bachelor of Science in Accounting from Pennsylvania State University and is a Certified
Public Accountant.
In connection with Ms. Macomber's appointment as Chief Financial
Officer, effective as of January 31,
2025 (the Grant Date), the Company granted Ms.
Macomber inducement awards consisting of (i) a non-statutory
stock option to purchase 650,000 shares of Karyopharm's common
stock (the Inducement Option) and (ii) 160,000 restricted stock
units (the Inducement RSU Award). These awards were granted
pursuant to the Company's 2022 Inducement Stock Incentive Plan, as
amended, as inducements material to Ms. Macomber entering into
employment with the Company in accordance with Nasdaq Listing Rule
5635(c)(4). The Inducement Option will have an exercise price per
share of the closing price of Karyopharm's common stock on the
Nasdaq Global Select Market on the Grant Date and vests over
four years, with 25% of the total number of shares underlying the
stock option vesting on the first anniversary of the date Ms.
Macomber commences employment and an additional 1/48th of the total
number of shares underlying the option vesting monthly thereafter.
The Inducement RSU Award will vest over three years, with 33 1/3%
of the shares underlying the Inducement RSU Award vesting on each
of the three consecutive anniversaries of the Grant Date. The
vesting of each of the Inducement Option and the Inducement RSU
Award is subject to Ms. Macomber's continued service as an employee
of, or other service provider to, Karyopharm through the applicable
vesting dates. In addition, each of the Inducement Option and the
Inducement RSU Award will immediately vest and/or become
exercisable, as applicable, in full if, on or prior to the first
anniversary of the consummation of a "change in control event," Ms.
Macomber's employment is terminated by her for "good reason" or by
Karyopharm without "cause" (as such terms are defined in the 2022
Inducement Stock Incentive Plan, as amended).
About Karyopharm Therapeutics
Karyopharm Therapeutics
Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company
whose dedication to pioneering novel cancer therapies is fueled by
a belief in the extraordinary strength and courage of patients with
cancer. Since its founding, Karyopharm has been an industry leader
in oral compounds that address nuclear export dysregulation, a
fundamental mechanism of oncogenesis. Karyopharm's lead compound
and first-in-class, oral exportin 1 (XPO1) inhibitor,
XPOVIO® (selinexor), is approved in the U.S. and
marketed by the Company in three oncology indications. It has also
received regulatory approvals in various indications in a growing
number of ex-U.S. territories and countries, including Europe and the United Kingdom (as NEXPOVIO®) and China. Karyopharm has a focused pipeline
targeting indications in multiple high unmet need cancers,
including in multiple myeloma, endometrial cancer, myelofibrosis,
and diffuse large B-cell lymphoma (DLBCL). For more information
about our people, science and pipeline, please visit
www.karyopharm.com, and follow us on LinkedIn and on X.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include those regarding Karyopharm's clinical
development plans and potential regulatory submissions of selinexor
and the ability of selinexor to treat patients with multiple
myeloma, endometrial cancer, myelofibrosis, diffuse large B-cell
lymphoma, and other diseases. Such statements are subject to
numerous important factors, risks and uncertainties, many of which
are beyond Karyopharm's control, that may cause actual events or
results to differ materially from Karyopharm's current
expectations. For example, there can be no guarantee that
Karyopharm will successfully commercialize XPOVIO or that any of
Karyopharm's drug candidates, including selinexor, will
successfully complete necessary clinical development phases or that
development of any of Karyopharm's drug candidates will continue.
Further, there can be no guarantee that any positive developments
in the development or commercialization of Karyopharm's drug
candidate portfolio will result in stock price appreciation.
Management's expectations and, therefore, any forward-looking
statements in this press release could also be affected by risks
and uncertainties relating to a number of other factors, including
the following: the adoption of XPOVIO in the commercial
marketplace, the timing and costs involved in commercializing
XPOVIO or any of Karyopharm's drug candidates that receive
regulatory approval; the ability to obtain and retain regulatory
approval of XPOVIO or any of Karyopharm's drug candidates that
receive regulatory approval; Karyopharm's results of clinical
trials and preclinical trials, including subsequent analysis of
existing data and new data received from ongoing and future trials;
the content and timing of decisions made by the U.S. Food and Drug
Administration and other regulatory authorities, investigational
review boards at clinical trial sites and publication review
bodies, including with respect to the need for additional clinical
trials; the ability of Karyopharm or its third party collaborators
or successors in interest to fully perform their respective
obligations under the applicable agreement and the potential future
financial implications of such agreement; Karyopharm's ability to
enroll patients in its clinical trials; unplanned cash requirements
and expenditures; substantial doubt exists regarding Karyopharm's
ability to continue as a going concern; development or regulatory
approval of drug candidates by Karyopharm's competitors for
products or product candidates in which Karyopharm is currently
commercializing or developing; the direct or indirect impact of the
COVID-19 pandemic or any future pandemic on Karyopharm's business,
results of operations and financial condition; and Karyopharm's
ability to obtain, maintain and enforce patent and other
intellectual property protection for any of its products or product
candidates. These and other risks are described under the caption
"Risk Factors" in Karyopharm's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2024,
which was filed with the Securities and Exchange Commission (SEC)
on November 5, 2024, and in other
filings that Karyopharm may make with the SEC in the future. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and, except as required by law,
Karyopharm expressly disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
XPOVIO® and NEXPOVIO® are registered
trademarks of Karyopharm Therapeutics Inc.
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SOURCE Karyopharm Therapeutics Inc.