Karyopharm to Be Delisted From Nasdaq After Chapter 11, With Shares Moving to OTC

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) will be delisted from Nasdaq, the company said in an 8-K accepted Thursday, Nov. 5, 2026. Trading in its common stock is set to be suspended at the opening of business on Nov. 11, 2026, and the shares are expected to trade on an over-the-counter market under the symbol KPTIQ.

The filing follows the company's Chapter 11 bankruptcy petitions, filed Nov. 2 by Karyopharm and its subsidiary, KPT Texas LLC, in the U.S. Bankruptcy Court for the Southern District of Texas. Our earlier report on that filing covered those petitions. Nasdaq staff sent written notice on Nov. 4 that the securities will be delisted because of the bankruptcy. Nasdaq cited public interest concerns raised by the petitions, concerns about the residual equity interest of listed security holders, and doubts about the company's ability to keep meeting continued listing requirements. The company said it will not appeal.

What shareholders would receive

The joint prepackaged Chapter 11 plan, filed Nov. 2, provides that holders of the common stock and the 0% Series A Convertible Perpetual Preferred Stock will receive no payment or other distribution. The company said it expects its existing equity securities to have no value and holders to experience a complete loss on their investment.

The last close before the filing was $0.07 on Nov. 4. Based on 22.7 million shares as of Aug. 6, the market value was about $1.6 million before this filing.

The financial picture

As of June 30, 2026, the company reported cash and equivalents of $55.0 million and short-term investments of $10.1 million, or $65.1 million together. In the quarter ended June 30, revenue was $33.4 million, down 12% from a year earlier. Net loss was $67.0 million, wider than the $37.3 million loss a year earlier, while diluted loss per share was $2.32 compared with $4.32. Operating loss narrowed to $22.5 million from $24.4 million.

For the full year 2025, revenue was $146.1 million, up 0.6%. Operating loss narrowed to $90.7 million from $119.4 million in the prior year, but net loss widened to $196.0 million from $76.4 million, and diluted loss per share was $17.93 compared with $14.00.

Trading warnings and open questions

The company cautioned that trading in its securities during the Chapter 11 cases is highly speculative and carries substantial risk. It said no assurance can be made that trading on an OTC market will begin or be maintained, and that trading prices may bear little or no relationship to any recovery by securityholders. The filing lists the Court's rulings on motions filed in the cases, the length of time the company will operate under Chapter 11 protection, and the consummation of a previously disclosed stalking horse asset purchase agreement among the risks it identifies. The company did not give a date for court approval of the plan or for the outcome of the cases.