By Sabela Ojea
Shares of Karyopharm Therapeutics on Monday rose 7.2% to $1.64 after it said it received fast track designation from the Food and Drug Administration for its rare blood cancer treatment.
The Newton, Mass.-based pharmaceutical company said the medication selinexor is being tested in conjunction with ruxolitinib to treat the blood cancer myelofibrosis in a Phase 3 study. The study was initiated last month.
Fast track status from the FDA is meant to speed up the development and review of treatments for serious and life-threatening conditions.
Top-line data from the Phase 3 study are expected in 2025.
Write to Sabela Ojea at sabela.ojea@wsj.com
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