Dive Brief:
- Karyopharm Therapeutics, a cash-strapped cancer drugmaker, has filed for bankruptcy in a bid to sell itself and reorganize.
- Through the Chapter 11 filing announced Monday, Karyopharm intends to hold an auction in which Ayrmid, the parent of cell therapy maker Gamida Cell, will serve as the lead bidder. Karyopharm will continue to operate during the proceedings with the help of a $55 million bankruptcy loan from its current lenders. An acquisition should close in early 2027.
- Karyopharm sells the blood cancer drug Xpovio, which was first approved for multiple myeloma in 2019 and has since been cleared for a common form of lymphoma. U.S. regulators could soon clear…