"The most critical time in any battle is not when I'm fatigued, it's when I no longer care." - Craig D. Lounsbrough
Today, we take a look at what is looking more and more like a former Busted IPO and one we gave a thumbs up to in December when it was trading at just ~$10. The shares have been strong in a weak market this week after an initial hiccup on Monday. After falling over 10% in trading Monday, Busted IPO KaryoPharm Therapeutics (KPTI) was up nicely in trading Tuesday. The trigger was very encouraging trial results in a key late-stage study. In the paragraphs below, we highlight this data as well as new analyst commentary while we update the investment thesis on this Tier 4 biotech concern. We also outline a buy-write strategy for those investors comfortable with basic options.
Company Overview
KaryoPharm is a Massachusetts-based clinical stage biopharmaceutical concern focused on the development of first-in-class treatments directed against nuclear transport and related targets for the treatment of cancer and other major diseases. The stock currently has a market cap just north of $750 million and trades just under $16.00 a share after this week's rally.
