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Karyopharm cuts staff amid push to broaden use of blood cancer drug

August 2, 2023


Cancer drug developer Karyopharm Therapeutics is reducing its workforce and streamlining its clinical development plan, joining a list of nearly 100 other drugmakers to turn to layoffs in 2023.

Alongside second quarter earnings on Wednesday, Karyopharm announced plans to lay off about 20% of its staff, a decision that affects full-time employees as well as contractors. The company had 385 employees as of Feb. 10, according to a regulatory filing.

The cost cuts come amid a push by Karyopharm to broaden use of its only marketed medicine, Xpovio, and position the company for “sustained growth,” it said in a statement.

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