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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 14:44 EDT
Wedbush analyst David Nierengarten raised the firm's price target on Karyopharm to $25 from $19 after the company reported positive topline data from the Phase 3 BOSTON trial of selinexor in patients with second-line plus multiple myeloma. While he anticipated a positive BOSTON readout, the magnitude of the PFS benefit over standard treatment was roughly two months longer than he expected, Nierengarten tells investors. He keeps a Neutral rating on the shares as he believes the price reaction to the BOSTON data takes into account sNDA approval for Xpovio in this setting.