Morphosys interest highlights Karyopharm’s opportunity in MF, say RBC Capital

RBC Capital made no change to the firm’s Outperform rating or $3 price target on Karyopharm (KPTI), telling investors in a research note that Novartis (NVS) is in advanced talks to acquire MorphoSys (MOR), who recently reported “promising” phase III data in Myelofibrosis, and there are potential readthroughs to Karyopharm. The firm says the report validates high acquirer interest in the MF space, and demonstrates that larger biopharma companies believe Morphosys’ pelabresib could get FDA approval, suggesting the agency might have flexibility for future approvals of drugs like Karyopharm’s Selinexor.