NEWTON, Mass., Oct. 26, 2018 (GLOBE NEWSWIRE) -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a clinical-stage pharmaceutical company, today announced that Mike Falvey, Executive Vice President, Chief Financial Officer and Treasurer, intends to leave the company to pursue other interests. Mr. Falvey will continue his current responsibilities until a successor is named to ensure there is no disruption in the financial leadership of the Company. An executive search will commence immediately to fill the position.
“Mike has played an important role at Karyopharm over the past year including in our two successful financings which will support the development of our clinical pipeline and first commercial launch anticipated in the first half of 2019,” said Michael G. Kauffman, MD, Ph.D., Chief Executive Officer of Karyopharm. “On behalf of our entire management team, I want to thank Mike for his many contributions and wish him the best in his future endeavors.”
“It has been a privilege to work for Karyopharm and to have played a part in the growth of such an inspirational company,” said Mike Falvey, CFO. “I know I will leave Karyopharm in a position to help make a positive impact on the lives of patients and I look forward to the Company’s continued success and growth.”
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq:KPTI) is a clinical-stage pharmaceutical company focused on the discovery and development of novel first-in-class drugs directed against nuclear transport and related targets for the treatment of cancer and other major diseases. Karyopharm's SINE compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm, which was founded by Dr. Sharon Shacham, currently has several investigational programs in clinical or preclinical development.
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 our expectations for commericalization. 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 due to risks and uncertainties inherent in Karyopharm’s business, including, without limitation: risks and uncertainties associated with the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities. The failure to meet expectations with respect to any of the foregoing matters may reduce Karyopharm's stock price. These and other risks are described under the caption “Risk Factors” in Karyopharm's Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, which was filed with the SEC on August 7, 2018, 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.
Karyopharm Therapeutics Inc.
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Source: Karyopharm Therapeutics Inc.