Karyopharm Therapeutics Mismanagement
Destruction of a $25 Stock Down To $0.30
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Richard Paulson, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su, Mike Mano: NO ACCOUNTABILITY, NO URGENCY, NO FINANCIAL DISCIPLINE = 99% DROP IN KPTI
Satire
Live It Up - On Shareholder Funds - With No Sense Of Fiduciary, Responsibility, Duty To Create Value For Shareholders, To Drive The Bottom Line Which Means Not Splurge Our Money As This Horrific CEO And Board Have Done With Incessant Spending, Running a Vacation-Club Style Company Culture, etc., And Even Giving Away Multiple $250,000+ Donations While The Stock Was At Delisting Risk, And Company At Existential Risk, And They Engaged In Toxic Financing Because They Couldn't Control Their Spending Diarrhea, Which Resulted In Over $11,000,000 In Interest Obligation Per Quarter Plus Plus -- And They Still Gave Away Multiple 6-figure Donations. CEO Richard Paulson Has To Be Fired. He's A Curse For Shareholders And The Company. Possibly Some Board Members Have To Be Ousted To Put This Company On The Right Path, And Turn It Into A Serious Business Instead Of A Bitch For These Insiders To Profit From With No Sense Of Accountability, Urgency, Financial Discipline.
Karyopharm Mismanagement
Karyopharm Mismanagement
Great Science In The Hands Of Lazy, Ineffective, Self-serving, Inept CEO & Board
Great Science In The Hands Of Lazy, Ineffective, Self-serving, Inept CEO & Board
For Over Four Years Many Investors Warned Karyopharm's Inept Board & CEO But We Were Ignored As They Continued To Destroy Company Wealth And Pay Themselves Millions. This Page Is A Small Snapshot
by Reza Ganjavi / Activist Investor Team
Disclaimer: This page contains opinions. This page does not provide investment advice. we have no affiliations with Karyopharm except being or having been shareholders. The purpose of this page is to share our research and concerns. If you notice any content that is not accurate please contact the page owner here: contact.
The postings on this page are not chronological (except the most recent) as this page went through several iterations and archiving, so this combined attempt is not in perfect sequence.
RESPONSIBLE PARTIES: Richard Paulson, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su, Mike Mano, Mike Mason
After KPTI lost 75% of its value, Paulson ran an ad for someone to manage the "catered daily lunches for all employees", and still donated 6-figures to various charities, and continued to waste assets.
"Zero credibility on any enrollment / trial updates. Actually pretty much anything they say doesn’t happen as planned."
DIRECTOR PROFILES
DIRECTOR PROFILES
One-pager about each Director on Karyopharm's useless Board of Directors who are a disgrace to shareholders, and have destroyed KPTI stock by some 99% by breaching their duties, and empowering the horrifically ineffective, inept, irresponsible CEO Richard Paulson who has destroyed Karyopharm financially by his mismanagement, lack of accountability, lack of urgency, lack of financial discipline - while he has been compensated over $20 million.
Click each slide to see it on Twitter.
Party Paulson on 5 June 2025
We Don't Believe Richard Paulson After Years Of Ineptly And Irresponsibly Destroying Our Assets
We Don't Believe Richard Paulson After Years Of Ineptly And Irresponsibly Destroying Our Assets
We have a hard time believing Richard Paulson after he destroyed hundreds of millions in shareholder worth by gross mismanagement, lack of financial discipline, lack of any sense of accountability and urgency, wasting soooo much money, and even shamelessly giving away multiple $250k+ donations from our money while bleeding our cash on a plush corporate culture that resembles more like a vacation club. He seems to be the ineptest CEO in all of biotech, and so irresponsible to not see the consequence of his wastefulness and mismanagement that destroyed KPTI and got us into the black hole we’re in.
The useless Board led by Barry Greene is responsible for this nightmare of letting Paulson loose to destroy KPTI. Even if all Paulson’s predictions become true, his lousy track record of delivery demands that he’s fired. He will blow good data like he had before. Just unfit for what Karyopharm needs. His credibility is also questionable because he has shamelessly announced delay after delay which extended his own lucrative gig of getting millions for doing diddly for shareholder value.
And he’s been so inept not to see what a disaster his former CFO and current General Counsel are, in our view. Numbers don’t lie. And so inept that he totally ignored the short interest and the havoc they wrecked with his implicit help for such miserable mismanagement that has been a gift for short sellers. Barry Greene and the rest of the useless Board: you want to see this nightmare continue and counting on Paulson to pull off a miracle? Examine your heads if that’s the case, and think about your personal liability for breach of your duties. The amount is so large the company doesn’t have the money to cover you, so you’ll have to foot the bill when we hold you accountable.
To: Mansoor Mirza, Garen Bohlin, Deepa Pakianathan, Chen Schor, Barry Greene, Richard Paulson, Christy Oliger, Zhen Su
KPTI at 28 cents down 99% because of your breach of your duties = Hundreds of Millions in Your Personal Liability
$4.23 / 15 = 0.28. KPTI AT 28 CENTS - 28 CENTS RICHARD PAULSON, BARRY GREENE AND THE REST OF THE SELF-SERVING INEPT OR COMPROMISED DORKS GETTING RICHER OFF KARYOPHARM WHILE BANKRUPTING SHAREHOLDERS. "EXCITING TIMES" RICHARD? BARRY ET AL. YOU HAD PLENTY OF WARNINGS TO FIRE THIS LOUSY INEPT WICKED CEO BUT YOU STOOD BY HIM AS HE DESTROYED KPTI VALUE, SHAREHOLDER WEALTH, AS YOU ALL BENEFITED AND GOT PAID YOURSELVES BIG BUCKS, EVEN GAVE AWAY OUR MONEY. AS MUCH AS YOU HATE THIS FACT AND THE CONCEPT OF ACCOUNTABILITY, YOU ARE RESPONSIBLE FOR THIS DESTRUCTION AND WILL BE HELD LIABLE AND ACCOUNTABLE WITHIN THE LEGAL FRAMEWORK: KARMA IS A BITCH!
PS—watch the latest videos of your horrible HR VP Lisa “Disaster” DiPaolo who makes some shocking claims about your (dysfunctional) culture which prove how horribly this company is managed. We’ve warned you for years to get your act together, but you were too “drunk” getting paid big money for doing nothing of value. Status quo has been too profitable for your sorry behinds to care to abide by your fiduciary duties, mandate, charter, so You killed KPTI by 99% - the buck stops at the top!
Read more here: https://x.com/karyowatch
More on the incompetent or compromised Richard Paulson and the Board
More on the incompetent or compromised Richard Paulson and the Board
From $375 to $4.25 on Richard Paulson’s watch. Shorts Love Him. We will hold him & the useless Board to account.
Karyopharm’s incompetent, irresponsible, lousy, value destroyer CEO Richard Paulson and Board of Directors think giving away multiple $250,000+ a shot in donations of our money creates value by having the company’s name on some banner – instead of engaging in financial discipline which starts with trimming the insiders’ wasteful ways which they don’t want to do because they’re too weak to go against the rotten status quo, and they are beneficiaries of that status quo which has screwed shareholders! Year after year of this nonsense giving away and wasting our money in hope that it creates value because management is too incompetent to create value itself. These giveaways have created zero value (except to put Paulson in the limelight hanging out with McDreamy etc. But this dumb or compromised gang doesn’t get it.
They seem to ignore or not understand how company value is measured, and the fact that they were hired to create value, and not according to their self-serving, damaged ideas, to burn through our cash, live it up on our funds, even giving away our funds with the goal of curing cancer. It’s a fundamental flaw in their damaged thinking.
In any normal company a CEO who is so off and has performed so poorly would be fired, but not at KaryoFUN Vacation Club because the Board itself is a beneficiary of this rotten, dysfunctional status quo which functions very well for the insiders as long as they continue to screw shareholders by diluting, toxic financing, reverse split – which have ALL been to the detriment of us who have hired these bozos to create value for us. This gross breach of their duties will catch up with them in the worst way when we drag their asses to court to hold them liable for destroying hundreds of millions in investor funds. Based on legal advice we’ve received, there is NO WAY they could justify their mismanagement and wastage of our assets, and there are a number of laws in various jurisdictions which they have availed themselves to, which will fry their asses legally and take every penny they’ve wasted including on themselves.
Live-It-Up Richard Paulson Busy Wasting Our Assets Instead Of Creating Value Which Is What He Was Hired To Do. And Too Incompetent And Irresponsible To Think Of Consequences Of His Mismanagement Of Our Money. Paulson & The Board Are Responsible For Destruction Of 100’s Of Millions Of Dollars In Investor Worth. They Think They’re Entitled To Spending & Even Giving Away Our Money, And They Have Never Felt Accountable. They Will Be Held Legally Liable. Karma Is A Bitch.
Richard Paulson, Barry Greene, Mike Mano et al. are destroyers of our money and dream come true for shorts.
Richard Paulson, Barry Greene, Mike Mano et al. are destroyers of our money and dream come true for shorts.
Under short attack competent CEOs fight back and manage defensively. Richard Paulson instead ignores them and splurges our cash.😠 💢💢💢
I won't be surprised if the wicked Board & CEO sell us out for pennies on the $ (KPTI was $375 on their watch) to Intentionally Or Out Of Incompetence To help the shorts 😡
I won't be surprised if the wicked Board & CEO sell us out for pennies on the $ (KPTI was $375 on their watch) to Intentionally Or Out Of Incompetence To help the shorts 😡
I am NOT alleging they're in bed with shorts but there are only a few ways to explain their gross destruction of KPTI and that's just one of several theories. Incompetence and irresponsibility and selfishness etc. are also possibilities.
KPTI CEO Richard Paulson=toxic for shareholders =gift for shorts, was paid another >$100k+ this week for doing jack shit for value.
KPTI CEO Richard Paulson=toxic for shareholders =gift for shorts, was paid another >$100k+ this week for doing jack shit for value.
Lousy CEO Paulson, a disgrace to shareholders and a nightmare for himself and the Board who WILL be held liable.
Hiding behind his ugly beard, the wicked inept Richard Paulson has destroyed 100's of Millions in KPTI value
Hiding behind his ugly beard, the wicked inept Richard Paulson has destroyed 100's of Millions in KPTI value
Together with the wicked Board which has failed its duties and endorsed this preposterous value destruction. It doesn't matter if it was intentional or out of incompetence. They're still liable and WILL be held to account.
To see wicked CEO Paulson's ugly beard he apparently hides behind, check out https://wsw.com/webcast/jeff319/kpti/1867328
Once Again Enemy of KPTI Shareholders, Wicked, Incompetent, Lousy CEO Richard Paulson, Wasted Our Assets On What Creates No Value.
Once Again Enemy of KPTI Shareholders, Wicked, Incompetent, Lousy CEO Richard Paulson, Wasted Our Assets On What Creates No Value.
Paulson is the enemy of shareholders.
Karyopharm Value Destroyers Will Be Held To Account.
Karyopharm Value Destroyers Will Be Held To Account.
Richard Paulson, Barry Greene, et al. are enemies of shareholders. They've destroyed Karyopharm's value, run it like a charity, shamelessly still funding interns, going on plush trips, offering grants, spending like there's no tomorrow, while paying themselves millions of our money even as the company is facing a serious existential threat; but they don't seem to get a damn. They've gotten too used to spending our money on themselves and even giving away over $250,000+ chunks to charity while booking millions in losses!! This is not incompetence, it is purely evil.
Dream come true CEO, Chairman, General Counsel, board members, for short sellers, sharks, vultures, wolves of Wall Street who run circles around these fools who are further destroying our wealth every day. We will hold them to account, and take them to court for every penny they have, all the millions they've paid themselves from our money, and all the hundreds of millions of our money that they have destroyed and continue to destroy. Karma is a bitch!
Professor Jalid Sehouli's talk should make shorts weep. Selinexor rocks.
Professor Jalid Sehouli's talk should make shorts weep. Selinexor rocks.
VIDEO LINK: https://www.youtube.com/watch?v=2ch8xaAfMpo
We Don't Believe #RichardPaulson After Years Of Ineptly And Irresponsibly Destroying Our Assets
Moronic Mismanagement Not Misfortune
Moronic Mismanagement Not Misfortune
KPTI Drop was not due to Misfortune but Moronic Mismanagement by Irresponsible, Inept Richard Paulson, Barry Greene, Mike Mano...
Chronicles of Value Destroyers
Chronicles of Value Destroyers
What's Brendan Strong doing anyway. Look at the stock performance on his watch. Join the disaster club led by two ultra-clueless executives: Richard Paulson and Mike Mano. Add Mike Mason to the list and you top the bill in the worst biotech gang that can't shoot straight. They are only great in spending our money and delivering zilch for results despite great science. Lousy CEO Paulson hired a Harvard MBA IR guy to compensate for Paulson's destruction of our stock which was no accident or misfortune. It was DIRECT result of Paulson, Mano, Greene & Gang's nightmare "management" if you can call it that. It was more like " spend shareholder money with no accountability; keep your head to the sand; even give away money; you're entitled to endless funds; when funds run out just dilute; when stock is so fucked it can't get diluted any more, resort to toxic financing, and then, inked by such weak people as Mason and Mano whom Paulson think are geniuses which says a lot about Paulson.
And even then, after selling the soul, they still give away large sums, give away!!! Even a first-year business student knows you can't run a company like that. How incompetent these guys can be? Or are they in bed with the shorts? Surely they're not short of shamelessness. They still have the nerves to come out and say they are frustrated by the stock price, by the way, here's another delay, here's another return we couldn't anticipate because we don't give a damn about shareholders and running the company as a business, and we were too busy having fun at the KaryoFUN vacation club "work to fit life" isn't that extraordinary? You just got to keep your head in the f'n sand, and pretend it's extraordinary, and believe in that s't and hope that by keep saying it becomes extraordinary.
Problem for these value destroyers is, it's been extraordinary for their f'n bank accounts, but not for long. If they f' us up we will sue them for every penny they've got. And these useless Directors won't be able to get any more Board job. No Board would want such value destroyers whom we will get convicted for breach of their duties and other causes of action, and bring hell to their financial lives via court verdicts.
Shorts Got Them By The Balls & They Don't Even Know It!
Shorts Got Them By The Balls & They Don't Even Know It!
About #BarryGreene and #RichardPaulson and #MikeMano and the rest of the value destroyers @Karyopharm #KPTI #Karyopharm $kpti @BarryGreene #ChenSchor @ChenSchor #GarenBohlin #ChristyOliger @christyoliger #MansoorMirza @MirzaCPH #ZhenSu @MyOncology @DeepaPaki #DeepaPakianathan
It takes a real idiotic (or corrupt) COB, CEO, General Counsel (like at KPTI) to not even know that shorts got them by their balls
1.6 million more shares shorted (pre-RS) - 27 cent stock - billion dollars in our money destroyed by you!
1.6 million more shares shorted (pre-RS) - 27 cent stock - billion dollars in our money destroyed by you!
Mike Mano and Richard Paulson being as incompetent as they were in dealing with the whole subject of "short and distort" that people like Deepa probably know all about it, they just ignored the subject, which had devastating effects on various aspects of the business - oh sorry I should have called it charity because y'all have acted as though our money is yours to use, spend, and give away like it's a charity. How easy it was for you to forget that we hired you with a clear mandate to create value for us shareholders, instead of just for yourselves, and be so egregiously irresponsible to even give away our money, and even do so without the company gaining any benefit from it which would be fine if we were profitable.
But in Richard Paulson's head, it seems he thought he's still running a division of a pharma (be never ran an entire company as a CEO and the subjects you've entrusted him with are totally new to him - he's been "learning on the job" but not learning, but spending, having fun, utilizing our money to his own benefit and benefit of the insiders and outsiders like Dempsey, with no sense of accountability.
And having been on the Board he knew all along how useless the Board is and he'll never be held accountable, which unfortunately for you that was what you were paid to do and such a breach of your duties will personally cost you as you can be legally liable for your breach of duties which have cost us over a billion dollars. And it wasn't due to bad luck, misfortune or factors outside your control. It was directly due to mismanagement, lack of accountability, lack of financial discipline, etc. -- absolutely no responsibility that investors expect us to create value for them. A foreign concept for Paulson as indicated by his own gross mismanagement of the company.
And it's shocking that you've allowed him to still be at it. He needs to be fired immediately. The longer he's around, the more he will destroy, and there's almost nothing left, except your big wealth and big bank accounts and your big liability to us as shareholders who will take every legal step to hold you accountable and liable.
Shorts have monkey wrenched various aspects of the company and you're oblivious to it because you're so incompetent and careless. You don't give a damn as long as you get your damn direct deposits.
Shorts have been shorting a 30 cent (preRS) stock which means they are confident at the value destruction of you clueless wealth destroyers. You've been a gift to shorts. If it's really not as bad as you look, and you really believe these incompetent CEO et al. can turnaround the company (with the current shareholder base) they you must immediately fire Paulson. You don't seem to get it and are too incompetent to realize competence matters. Short interest just rose 1.6 million (pre-RS) shares while you irresponsible bunch continue to ignore the facts, including your own personal liability. It doesn't seem business ethics plays a role in this picture, so think about yourselves, selfishly, which you're very good at, and your own liability.
How pathetic that your breach of duties had to get the company to this point. A 27 cent stock that's still being shorted, and you have the same incompetent parties doing the same incompetent things and expecting a different results. But you don't seem to care as long as you get your money, at shareholders' cost. That's how you've destroyed a billion dollars of assets and you are responsible and liable for it.
If you know anything about turnaround you'd fire Paulson immediately, followed by Mano and cut the fat that sinking this ship but Paulson is too incompetent to think outside the box, so don't rely on him. This is all your fault, your responsibility, and your liability.
Now baffled Mike Mano is going to waste more of our assets (as though destroying over a billion in value by this incompetent gang was not enough) paying big money to external lawyers to check out this email (LMAO), that's if he finds time away from reading various message board monitoring investors who are calling for accountability.
If he'd spent a fraction of this time and resources fighting for the company's rights against professional short & distort, or IP breach, we'd be in a much better place. We warned you about Mike Mano in 2021, and Mason, but Paulson liked them because a strong CFO and GC would never let Paulson get away with his splurging and wasteful ways that have destroyed our assets, and YOU are responsible for that.
Mason and Mano were the keepers of the wasteful culture Paulson inherited and adored because he benefited from it, and it seems he never took value creation seriously and it seems he was always more interested in extending his plush gig than to run a tight ship which would have been bought out for over a billion a few years ago but he didn't want that. He'd make a lot more as he has, getting paid millions with no accountability , for not having done anything that translated to value.
That's also your responsibility and liability.
Hard to Believe Richard Paulson
Hard to Believe Richard Paulson
Now Paulson says he has personal/financial interest in our success. Why didn't he when he was busy splurging/wasting our assets?
ABSOLUTELY URGENT NOTICE TO KARYOPHARM BOARD REQUIRING URGENT ACTION
ABSOLUTELY URGENT NOTICE TO KARYOPHARM BOARD REQUIRING URGENT ACTION
To: Karyopharm Directors (Minus the lousy CEO Richard Paulson, value destroyer in chief who will continue to destroy value - guaranteed! And you MUST do something about that. Read on!) barryge@gmail.com, barry.greene@sagerx.com, Garen Bohlin <ggbohlin@gmail.com>, cschor@AdicetBio.com, deepa@DelphiVentures.com, zsu@marengotx.com, Mansoor.Raza.Mirza@regionh.dk, Christy.Oliger@gmail.com
Cc: Brendan Strong, Lori Macomber, both of whom will probably not get this message as Mike Mano seems to have it directed to himself, as the guard dog of the useless Board who is liable for hundreds of millions of dollars in investor losses due to its clear breach of duties and mandate. brendan.strong@karyopharm.com, investorrelations@karyopharm.com, Lori.Macomber@karyopharm.com
KARYOPHARM DIRECTORS TAKE NOTICE:
$25 STOCK DOWN TO $0.28 PER SHARE WHICH SAYS ALL WE NEED TO KNOW ABOUT YOUR ETHICS AND COMPETENCE. But there's very bad news in this for you too. You've gotten used to looking at that just as the shareholders' problem, as long as you get your fat checks for doing nothing that's ever translated to value. Read on.
By the way, did you notice Paulson's foolish answers on the call? Idiotic lines like:
It will be sooo much fun to get you convicted, get a judgement so big it will wipe each of you financially (and for sure Karyopharm will not have the assets to cover your compensatory and punitive damages which runs into hundreds of millions) and that verdict put you out of your directorship roles forever! No company would want to ever have you "direct" them into the kind of hell your self-serving, careless, irresponsible, do-nothing mis-leadership has "directed" Karyopharm.
I don't know how you would ever think that's not possible, given the law of cause and effect. Deepa knows a bit about it, in her tradition it's called Karma - and it's even thought of as a multi-life tangle, and it's not inconceivable, given the level of asset and value destruction you've engaged in, that if you can't pay the verdict, which runs into hundreds of millions, you'll have to pay for it eventually.
And that's all because you were too incompetent, lazy, irresponsible, do-nothing, passive, weak, to see how incompetent Richard Paulson is for what Karyopharm needed as a CEO, even despite his having proven that fact time and again, year after year, and YOU are still so ignorant and careless and in breach of your duties, that you still don't get it.
You still expect this chump who's destroyed a billion dollars in shareholder value to magically turn it around, while him and his equally incompetent General Counsel don't even have the competence to even acknowledge that the short position is a huge problem, and they surely are too incompetent to understand some basic facts, like how do you go about that problem (which should have been addressed years ago and the minimum you could do is to be disciplined in your spending which Paulson absolutely blew, and that by itself should be a reason to fire him immediately.
I don't know what it's going take for you to get it that this CEO is lousy, toxic, and will never turn around Karyopharm because he's never done it before in his career. He's winging it. Despite the millions we're paying you value destroyers on the Board, you can't comprehend that simple concept because you're too used to just taking - just taking and never giving - and seemingly, unethically denouncing your mandate, the reason you were hired. If you hadn't, you would have fired Paulson years ago. And we kept warning you as he destroyed hundreds of millions more in value, every year, and never ashamed of effectively saying "shit happens" which is probably what he will end of saying again, and trust me, that's when your big problems will start because that's when there's no ambiguity any more about your failures of duties and resulting massive, gigantic financial liability.
Is he worth it? Any competent Director would know that competence matters, and track record matters, and you can't play Russian Roulette with funds that investors have entrusted you with, by running the company based on hope in these seemingly incompetent, ignorant, clueless CEO and General Counsel. Chew on that Mano -- I'm sure being as incompetent as you seem to be, you're going to waste more corporate assets to have a super expensive outside lawyer help you chew through this, and get nowhere. We know you all don't like accountability to shareholders, and that's exactly why you've gotten us into this hole, and yourselves too: Make no mistake about that.
Barry Greene and the rest of you useless Board members: Every day it becomes tougher for you to rescue the company and yourselves from this mess which you have created. You must absolutely start by firing Richard Paulson IMMEDIATELY. Put an interim CEO in his place and mandate a massive cost cut right away which will should probably start by firing Lisa DiPaolo - she can take her vacation club with her, demanding every employee to show to office - anyone who doesn't like it can quit and it won't make a dent. Instate a stringent austerity measure including hiring freeze, travel freeze, salary freeze, and take a salary cut yourselves and across the board for all C level executives, at least temporarily. But some stock in the open market.
Fire Mike Mano immediately (you already have a hotshot internal lawyer). That saves you a ton of money on dead wood.
Garen should have the integrity to resign but it seems he won't because he loves money too much. You don't need more money Garen. By stepping down you save us a lot of money, and you do something for the company for once which directly contributes to value.
Mirza should have the integrity to resign. You don't need to money. You already get an arm and a leg as a consultant for us, and you don't need the money. By stepping down you save us a lot of money, and you do something for the company for once which directly contributes to value.
How about you Chen? Look at your track record: 99% drop in KPTI value! Haven't you had enough? Still want us to pay more and more while you keep failing us?
More directors should have the integrity to resign. The Board size should be cut in half. That's part of the austerity measure which is not part of Paulson/Mano/Greene's DNA and comprehension.
Wall Street clearly doesn't trust you all, doesn't trust Paulson and Mano, and shorts are bouncing in job and tightening the noose every day while you continue to ignore them. It's inconceivable how ignorant and incompetent biotech public company CEO and Board members can get about a topic which is well known in the industry.
You can try - it may already be too late - you should have tried this years ago - to build credibility with investors, which if you have the competence you understand is directly correlated with value creation.
Probably Branden Strong can take on the interim CEO job because what you need is someone who understands what it means to run a business, and he may still not have gotten corrupted enough by the blackhole of this lousy vacation club culture which cannot even conceive of urgent cost cuttings that need to be done yesterday!
That's just a start! But you have to start. You're sitting on your lazy chair doing nothing, year after year, for the millions we've paid you. And the ship keeps sinking, which is 100% your fault. It's not like you weren't told or you didn't know. No cigar! Think about that verdict the court will hand down, or think about ethics and morality and other noble values you've stepped on as you've destroyed your assets. There's a lot more to life than money. Think about it. WAKE UP!
ABOUT THE INCOMPETENT SELF SERVING ASSET DESTROYERS
ABOUT THE INCOMPETENT SELF SERVING ASSET DESTROYERS
Shorts Have KPTI's Lousy CEO, Chairman, General Counsel, Board by the Balls and this inept, lazy, wasteful gang don't even know it!!
Richard Paulson & Barry Greene: Most Toxic CEO & CoB In The Biotech Industry
Richard Paulson & Barry Greene: Most Toxic CEO & CoB In The Biotech Industry
Paulson's expertise seems to be in f'ing us up by wastage, blunders, toxic financing, dilution, as long as he gets his millions.
Warrants and Convertibles
Warrants and Convertibles
These clowns (Karyopharm Board, CEO, et al.) have already fucked us up by diluting the hell out of KPTI because they are so incompetent in value creation (except for themselves) and didn't want to trim their wastage of our assets, splurging, living it up on our assets, daily catered free lunches to feed their ugly faces, which is just one example of the dysfunctional and wasteful culture they're so proud of.
These horrible people even gave away hundreds of thousands of dollars a shot in donations while losing millions in of our money. Are they in bed with the shorts, or are they so unethical to have no sense of duty, or are they just purely stupid and incompetent? I think it's a combination of the latter two.
They don’t give a shit about shareholders and never have. They just care about serving themselves millions in undeserved salaries and bonuses that are not tied to shareholder interest, with no sense of accountability or duty. But they will be held liable and accountable.
Post reverse split, 3 sets of warrants:
Private placement 12/5/22.........635,703 shares exercise $95.37
HCR 8/1/23.........................................16,667 shares exercise $33.75
HCR 5/x/24...................................3,051,747 shares exercise $16.50
Total warrants for 3,704,117 shares
HCR 2029 notes ( 111,000 ) each convertible to 29.63 shares exercise $33.75
Total note conversion for 3,288,930 shares
Possibility of Short Squeeze, Miracle, Long Arms of Justice
Possibility of Short Squeeze, Miracle, Long Arms of Justice
Shorts are totally counting on these clowns to continue to screw-up. But if the clueless (or corrupt) irresponsible wasteful value-destroyers for once manage to pull off a surprise miracle, shorts are so overextended that there will be a massive short squeeze. A great catalyst and miracle would be Richard Paulson getting fired. KPTI will triple instantly and up from there.
Paulson has debilitated the company by his incompetent, irresponsible, wasteful mismanagement. His firing is a must, given how bad he’s screwed up, even if these clowns manage to get us to good data without dilution or further toxic financing. No company should ever be put in this existential is, by a lousy CEO and Board. They just didn’t want to trim their spending diarrhea and live-it-up, wasteful culture, and giveaways and good times with McDreamy which is just one example of extensive asset wastage, and no duty to their mandate (value creation).
The CEO/Board are responsible for this despicable destruction of our assets and and will be held personally liable with their personal wealth, even if they hide it under a rock, of flee to Canada in the case of Paulson, or anywhere. Justice has long arms.
Management by ignorance
Management by ignorance
Mike Mano ignored the professional short & distort gang because he is too incompetent to deal with it. But he watches these forums like a hog (????) because he's the guard dog of the dysfunctional status quo that has paid him millions in salary and undeserved bonus, and paid the useless Board and CEO also millions while almost bankrupting the company because of mismanagement, lack of sense of urgency, irresponsibility, lack of financial discipline, lack of ethics to guard the shareholder assets and spend it wisely instead of splurging it like hell including giving it away in large sums while booking millions in losses.
That's because the CEO has the wrong paradigm in his head: his agenda is supposedly to cure cancer even if that means bankrupting the shareholders, instead of competent CEOs who adhere to their mandate and wake up every day thinking how they can improve the bottom line, how to create and drive value, and are wise and intelligent and ethical enough to let those critical questions guide their actions, instead of waking up and effectively saying to hell with the shareholders, let's live it up on the funds.
That's exactly how it appears Richard Paulson conducted himself year after year, and seems to have been too busy enjoying the "vacation club" and thinking of how to splurge next, to manage the company proactively, think about risks, about issues, about potential returns, about risks to timelines, etc. -- so he shamelessly announced delay after delay, and failed to take the expense bull by the horns. He's too weak to go after the dysfunctional status quo, and he's a beneficiary of it. The Board and certain officers are responsible for this rotten modus operandi and will be held accountable and personally liable for every penny they got.
If they had fired Paulson a month, 6 months, 1 year, 2 years ago, under a capable, strong, turnaround CEO the stock would have been 10 times higher. Still, if Paulson is fired today shorts will freak and they have shorted sooooo much that just the squeeze will send the stock 5 times higher. Instead, the lousy Board is counting on Paulson to pull off a miracle. What are the chances of that? Statistically very low, given the very sharks they've incompetently ignored have upped the ante and are ready to gobble these weak losers of value. The choice for the Board should be clear. Risk all their personal wealth or do something for a change to turn this mess around, which is impossible as long as Richard Paulson and Mike Mano are around.
Firing Ricard Paulson will make the stock take off and will trigger a massive short squeeze.
Emails of KPTI directors
Emails of KPTI directors
If you write, keep it civil and polite: barryge@gmail.com, barry.greene@sagerx.com, ggbohlin@gmail.com, cschor@AdicetBio.com, deepa@DelphiVentures.com, zsu@marengotx.com, Mansoor.Raza.Mirza@regionh.dk, Christy.Oliger@gmail.com (Oliger's email is not confirmed - it hasn't bounced back but not sure if it's her - but then again, it's not a very common first.last combination).
"Richard Paulson's overall pay is 47% above the industry average"
"Richard Paulson's overall pay is 47% above the industry average"
An investor researched and posted Paulson's "overall pay is 47% above the industry average"
Their business plan has always seemed to be enriching insiders at shareholder cost. But their breach of duties to shareholders make them personally liable. So we could go after their personal wealth and potentially get every penny we paid them and much more.
Wicked CEO Richard Paulson Destroyed Karyopharm financially
Wicked CEO Richard Paulson Destroyed Karyopharm financially
He was too busy donating our money to and partying with McDreamy / photo opps, and splurging our cash, to think about cash runway.
More evidence of Richard Paulson being a lousy CEO, and of the irresponsible, lazy, live-it-up "vacation-club culture" he's so proud of
More evidence of Richard Paulson being a lousy CEO, and of the irresponsible, lazy, live-it-up "vacation-club culture" he's so proud of
At RBC, Richard Paulson kept repeating "real world" use of Selinexor as an excuse for his horrible mismanagement of yet another area of the business: over a $5mm hit to the bottom line because of return of higher doses. Let's get this straight: You, Richi Paulson, should have anticipated that. And if you didn't, whomever was responsible for this area in your fat, lazy, wasteful "culture" should have handled it, and that's your responsibility as CEO -- we're paying y'all enough to expect you to run the business professionally, as a business, where every penny counts, let alone $5 million, and investment community needs to know about these hiccups, and not last minute. But you not having your eyes on the ball is nothing new. You were probably too busy doing nothing productive like you admitted: “I dedicate significant time engaging with like-minded individuals”, or were on some unnecessary trip, or working from the beach, or were at yet another company event, outing, party, celebration, or feeding your face on our tab with your free daily catered lunches, that is if you bother to make it to the office (the "vacation club" has a "work from anywhere" policy as one of its many many perks that's costing us an arm and a leg. And least we could expect for employees who've got it made in terms of easy life, to be proactive, and anticipate such things and plan for it. Instead of dumping it on shareholders like your many shameless delays.
Richard Paulson, you have exhibited time and again to not have the competence, sense of accountability, urgency, and financial discipline to run Karyopharm, so instead, you've run it to the ground. It's to your advantage to quit, because at this rate, if your la-la-land projections don't come true and company goes belly up, you'll be held liable for every penny investors have lost due to your mismanagement. There's no way you can justify in court that you just had to give hundreds of thousands to Mc Dreamy while we're bleeding cash and don't even have enough cash for the trial readouts, and while you've already diluted the hell out of our shares - and - got us stuck in toxic financing - because you didn't want to tame your spending of our money. It was too good to not spend!
Add to the list, not giving importance to driving the bottom line. Else, you would never waste our money as you have done, giving it away to "like minded entities?", thus, hurting our bottom line, valuation, stock price, demand for the stock, analyst sentiment, investor pockets. So the blame on this yet again "last minute" news is on you. The issue is not the return, the issue is the surprise. You should not have been surprised, and you should have kept investors informed, and planned for it. You had 4 years to figure it out, per your own admittance that these were a late-2020 batch. Great Science in hands of inept CEO/Board. New CEO = KPTI will take off.
43% increase in Short Interest; Financial Spiral; URGENT Need to Act; Directors' Personal Liability
43% increase in Short Interest; Financial Spiral; URGENT Need to Act; Directors' Personal Liability
43% increase in Short Interest & the financial spiral KPTI is caught in.
URGENT need to act, Directors are liable.
Richard Paulson and Mike Mano can't even seem to comprehend let alone acknowledge the existential risk we are facing.
To: Brendan Strong (IR); Copy: Karyopharm Board Directors (Minus Richard Paulson since he is the root of the problem addressed here).
Dear Brendan
Maybe the Board will listen to you, with your Harvard MBA, that Richard Paulson is getting us closer to total destruction every day, and should immediately be dismissed as a CEO. This is an urgent matter that needs immediate attention. We've been saying this for months and years as the stock keep sliding, and shorts are getting richer, company is at a very serious existential risk, and there is nothing in Richard Paulson's profile, performance, background, personality, that gives investors I know any confidence that he can pull it off. In fact we are sure that he can't. So the Board needs to find the integrity that for once in their years of receiving large sums of money from us, that they should stand up for what's right and try to save Karyopharm, and that absolutely requires firing of Richard Paulson, in our view.
In case you missed it: short interest up 43% since reverse split - on your watch Brendan! I think you're educated and experienced enough in related matters, unlike your bosses, to understand
a) key factors that determine company value
b) dangers of not giving a damn about shareholder value, and how that has put the company at an existential threat despite Richard's rants about how MM is profitable, next stages of growth, optionality, etc. while in reality the company's been running out of options very quickly.
d) dangers of total lack of financial discipline based on management's own confirmed track record of wasting assets.
Maybe with your Harvard MBA you can get this gang to see the grave danger and risk the mismanagement has put the company in. No company with a half-decent management should ever be in a position where it soon doesn't have even enough cash to service its (toxic) debt (that could have been avoided with prudent, responsible spending) at the current spend rate and lavish "culture" that still seems extremely unproductive, wasteful, and will be so because Paulson doesn't know any different - just look at his resume.
Richard Paulson has never worked for a company with financial hardship - he's had no turnaround experience, no dealing with Wall Street crooks, vultures, sharks who are circling around and your bosses seem to have just ignored them like they don't exist (because of no competence in dealing with them). If Mike Mano put a fraction of the effort he's done against shareholders' call for accountability, into fighting short sellers and their professional short&distort campaign (including bashing by some medical doctors) - we wouldn't be in this position. But the company's position was, as told to me by the IR Director at the time, that online disparagement of the product is not actionable (which really means, we are incredibly clueless and incompetent and cowardly regarding standing up for ourselves in light of disparagement of our professional which directly hits our bottom line).
But then again, it seems driving bottom line has never been on Richard Paulson's mind, else he wouldn't give hundreds of thousands of dollars per shot in donations. Maybe he still thinks we are Amgen or Pfizer (two companies he worked for but not as the CEO). But they are loaded, rich companies and we don't have runway even to the important data.
Result: KPTI has been destroyed. From double digits to the current 30 cent level (pre-RS) and short interest rose 43% in the pennies level !! I trust you're educated and experienced enough to understand that risk.
Your bosses have totally ignored the dynamics and reality that has destroyed KPTI for years. Paulson still sits there, after handing us so many delays, and projects blue skies after his lack of effective leadership has gotten our ship into bad storms and torn apart, and while short interest has gone up 43% and it'd be foolish to think shorts had nothing to do about all the "misfortunes" which were in reality mismanagement, irresponsibility, wastefulness, lack of financial discipline, inexperience, recklessness, incompetence, simply being an ineffective management team that ran the company by disregarding their mandate to create value, and by management-by-ignorance. Absence of either one of those factors would have meant financial discipline, sense of urgency, and delivering results. Maybe you understand the effort does not mean results. It's even doubtful that in this wasteful culture there was even effort, let alone a genuine interest in delivering results for shareholders, which is the corporate management's mandate. You understand that with your Harvard MBA. It seems they didn't teach that to Richard Paulson in his MBA school. They taught it at the MBA school I went to which is highly ranked.
You have a big challenge as IR director to try to turn investor sentiment to believe Paulson - after he so blatantly says falsehoods and imaginary statements like he said on the call today:
"We've been very disciplined, very focused, and put efforts in place the last couple of years to really ensure our focus is on phase 3 readouts" -- any competent manager would include CASH RUNWAY in that "effort" set. Richard Paulson didn't.He splurged the cash like there's no tomorrow during that very "last couple of years". So what he said on the call is nonsense.
We know from Dempsey center itself that the company in the last couple of years donated hundreds of thousands of dollars, per years, to Dempsey - which is just one sign of the wastefulness at a time when the company also got itself engaged in toxic financing because it couldn't control its costs (wasteful culture including Richard Paulson himself and all his unnecessary travels, no sense of financial austerity, etc. - and apparently no oversight by the Board of Directors), and it should have been thinking about CASH RUNWAY, and should have been competent enough to think about CONTINGENCY which is what good CEOs think about (perhaps they spend less of their time chit chatting with other CEOs as Paulson does - or flying to California to attend an 8000 person conference that he's NOT presenting, with a lame excuse which is basically "socialization" that did not add any value to the company's worth, and has never done so, even in years where he presented.
These are just isolated examples that tell a darker story of the kind of breach of fiduciary duties that has led to a 99% destruction in the stock and loss of over a billion dollars in investor value since Richard joined the company as a Director.
Of course the company being American and regulated by regulators and statute, this huge risk that the Directors have put us shareholders in also translates to a huge risk for them, for liability. And not just the Directors but also the officers. There's precedence for this. And the way the finances are looking, and Richard Paulson's continued ineffective leadership, the company's funds will not be sufficient to cover the huge liability of the directors, so all that money we've paid the CEO and Directors over the years, may fly away, and more! If you like to think of this as a legal threat, go ahead, but the intention of this message is reflected in the title: 43% increase in short interest since RSS, and urgent need for a new CEO to take this runaway bull by the horns.
Feel free to call me anytime. Good companies have a harmonious relationship with shareholders because they act in harmony with shareholder interest (which has not been the case at Karyopharm). IR at KPTI is a sore subject, based on my own experience and very negative remarks I've heard and read shareholders say about you guys (some which are actually unlawful which I never repeat because I always respect your rights). But Directors of a company which systematically alienates shareholders by not giving a damn about them, and wastes shareholder assets, and even gives away their money, are held to account.
Best Regards
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Short interest astronomically high after RSS (which is exactly what we predicted) but the useless incompetent CEO and BOD don't even acknowledge shorting is a problem. Mike Mano, Richard Paulson & Co., have totally ignored the subject for years and failed shareholders.
Short interest astronomically high after RSS (which is exactly what we predicted) but the useless incompetent CEO and BOD don't even acknowledge shorting is a problem. Mike Mano, Richard Paulson & Co., have totally ignored the subject for years and failed shareholders.
2 million(preRS) more shares shorted. Shorts counting on wicked CEO Richard Paulson, Mike Mano, Barry Greene et al. to continue destroying the company, giving away our money, splurging, wasting, not giving a damn about shareholders who pay their f'n salary. Imagine the bounce in share price if the useless wicked Board finally fires Paulson!
2 million(preRS) more shares shorted. Shorts counting on wicked CEO Richard Paulson, Mike Mano, Barry Greene et al. to continue destroying the company, giving away our money, splurging, wasting, not giving a damn about shareholders who pay their f'n salary. Imagine the bounce in share price if the useless wicked Board finally fires Paulson!
Short interest up 43% since RSS, counting on Wicked Paulson et al. to fully destroy KPTI (→ be held legally liable in a $big$way$)
Inconvenient Truth About Liability of Richard Paulson, Barry Greene, And The Rest Of The Useless Board
Inconvenient Truth About Liability of Richard Paulson, Barry Greene, And The Rest Of The Useless Board
Minor details for the wicked CEO who has destroyed our assets without an ounce of shame and the useless Board who's failure of its duties has amounted to over a billion dollars in investor losses:
The biggest problem for the Directors is that if this path of destruction continues the company won’t have money to cover their personal liability, so they can kiss goodbye their personal wealth. They’ve destroyed shareholder worth – so it’s perfectly ok for shareholders to get assigned Directors’ wealth, and more. Would love to see these Directors file for bankruptcy just as they’ve debilitated KPTI by breaching their duties: Just collect a fat check, undeserved bonuses, and let Paulson wreck havoc.
Another bad news to baffle Mike Mano with: statute and case law supersede your stupid exculpatory clauses - in addition to the money issue above. Chew on that Mikee since you got nothing better to do apparently: nothing that’s ever turned into value. 30 f'n cent stock. Well done! Shorts love you clowns.
KARYOPHARM WILL NEVER BE A SUCCESS AS LONG AS RICHARD PAULSON IS THE CEO'.
KARYOPHARM WILL NEVER BE A SUCCESS AS LONG AS RICHARD PAULSON IS THE CEO'.
CEO Richard Paulson has proven that he will never be able to make Karyopharm a success because he has no conception of saving money, respecting shareholder assets (since his bonus is not tied to the stock and his options is irrelevant since he’s making a killing regardless of his performance), and he has no skills or care about driving the bottom line (else he wouldn’t donate multiple over $250,000 donations that come right out of the fucking bottom line that is a key factor in valuation which again he doesn’t seem to grasp the importance of or give a damn about because of lack of accountability for himself and the complacent, incompetent, hands-off, irresponsible Board that’s supposed to oversee and monitor the CEO and contribute to company value instead of just collecting a damn paycheck and fat bonuses they give themselves.
If they had any sense of fiduciary and work ethics, they would adhere to their mandate to create value and performing their fiduciary duties, and wouldn’t let the gang that can’t shoot straight (Paulson, Mano, Mason) wreck havoc with the share prices through bad decisions, idiotic mismanagement, and lack of financial discipline, urgency, accountability.
Good management attracts shareholders, demand, which translates to value. These clowns don’t seem to grasp this basic concept. Instead, theyve been on a rampage of alienating shareholders as evidence by the 50% drop in institutional interest, significant rise in short interest, and 99% drop in share price, despite a life-saving, cancer-curing drug and a huge market.
Even when facing serious existential risk, for three years in a row, these clowns gave multiple 6-figure donations and other donations to charity because they have no conception of how to make this company a success even with the best of data. Paulson is going to continue wasting money our assets, is going to continue to go on unnecessary plush travels, will continue running the wasteful company like a vacation club with very low productivity, and all the various wasteful ways will continue. KARYOPHARM WILL NEVER BE A SUCCESS AS LONG AS RICHARD PAULSON IS THE CEO. Firing Paulson is a must! But the self-serving, lazy, incompetent Board won’t do it because Paulson and Mano are the gatekeepers of the status quo which is very profitable for the clowns on the Board, at shareholder cost!! So, the Board itself needs a house cleaning, which they should do themselves, starting with dumping of the dead wood, which is most of the old-timers with a 99% value destruction record. They’ve been a disgrace to shareholders.
Paulson et al. have ignored the company’s real enemies and so are enslaved by them. Salvation for KPTI only possible if Paulson is fired.
Paulson et al. have ignored the company’s real enemies and so are enslaved by them. Salvation for KPTI only possible if Paulson is fired.
Paulson, Mano, Greene, Bohlin, and the rest of the KPTI clowns have been ignoring short sellers and forces which are politically well connected, have a lot of money, and are a hundreds times smarter than these clowns, who have been monkey-wrenching the company for years, from delay of Siendo 1 to hampering sales in MM via their professional negative advertising, to various delays, enrollment problems, etc. while probablty being engaged behind the scene with toxic financing, shorting more because they are so damn confident in Richard Paulson and the Board’s incompetence.
Paulson/Mano/Greene… ignored these parties and did nothing about it, which they absolutely could have, if they had the guts and the competence, which they don’t. Instead, they’ve viewed shareholders who demand accountability as their enemies!! This governance stinks to the bone. And the inept, self-serving Board who’s been warned for years, has failed to fire Paulson, endorsing this incompetence to continue, because it’s a profiteer of the status quo, in our opinion.
Their latest mantra is: we will magincally come up with money (at huge cost for shareholders probably since they don’t give a damn about us – but they have to – and they will be held liable and accountable for shareholder value destruction) – that we will come up with 11m/qtr for the interest for the toxic financing (which they could have avoided if they had not splurged and wasted our funds), and other debt that’s due, and make it to trial results (which they will screw up as they have done in the past because they’re so incompetent), and have a billion dollar sale. Anyone in their right mind would see the risk with that plan because of Paulson, Mano, Greene…’s problem of competence in creating value. Miracles do happen but very tough without first firing of this lousy CEO.
Letter to Karyopharm's (KPTI) Board
Letter to Karyopharm's (KPTI) Board
13 May 2025
To: Karyopharm Directors Minus Richard Paulson
Short interest is up significantly. A medical doctor / experienced investor who has warned you many times over the years and has called for Paulson's firing wrote yesterday: "I have never seen worse governance in a company in my life" "This is entirely the fault of poor Corporate Governance, mainly KPTI Board Chair Barry Greene."
Share price is at 30 cent pre-RSS level down from double digits. Share price is down 99% while most of you have been "directors". You've received millions in compensation. Shareholders have lost over a billion dollars in value to your mismanagement. We (multiple investors) have warned you for years to trim your cost structure, you ignored it. You had plenty of cash to see through the readouts. Instead you splurged like there's no tomorrow, even giving away 6-figure donations to the tune of $250,000 each donation while bleeding cash. We warned you so many times to get a new CEO with turnaround experience. You kept Richard Paulson and his incessant delays after delays. What else did you expect from such a CEO? Yesterday you announced new delays. You announced planned expenditure multiple times of your current cash while you're tied in a toxic financing that's costing us $11,000,000 a quarter because you didn't want to trim your splurging of our cash.
You don't have money for anything, yet you didn't cut virtually any costs since last year. You've maintained the same wasteful cost structure that has deprived us from making it to the readouts which means you've once again put the company at existential risk. You let Paulson get us into this hole, destroy our stock while he splurged like there's no tomorrow. 8-person Board and after 12 years and 99% destruction of our stock and millions in compensation for him Garen Bohlin still wants more - still wants to run, as though the rest of the 7 people can't do his minimum liaising with the auditors.
The very shorts which Richard Paulson and Mike Mano wholly ignored, as though they don't exist, have you all under their thumbs. How difficult is it to manipulate a 30 cent stock (pre-RS)? If you had any experience with the WS sharks like we've had and we warned you about, you would not ignore them, you would address the professional short and distort campaign. But Paulson never had to deal with these things - on-the-job training and he's not doing well at it, yet he's been compensated over $23 million since 2020 (more info: https://x.com/karyowatch/status/1919835560811618487/photo/1).
You were not willing to tie your bonuses to the stock, as many good companies do. You've never seem to be committed to your mandate to create value, and far more, to your big compensation package with apparently no sense of accountability to shareholders who hired you to create value for the corporation - a task you've utterly failed at because of your negligence, irresponsibility, and breach of your fiduciary duties, which also carries personal liability.
Bottom line is you have paralyzed Karyopharm and KPTI. To many of us with extensive business experience, it was clear that the way out of this mess was through new leadership. But you let Paulson call the shots and regularly fail. You let him give away our money, multiple $250,000 donations to Dempsey charity and party with him instead of thinking about cash runway to see through the trial results.
Paulson has destroyed so much assets, under your supposed oversight, that it seems he's tried to rationalize it by shifting from your mandate to create value (we are a for-profit corporation in case you forgot) to one of being a charity which has a charter to cure cancer. What else would justify his giving away multiple 250k donations at the same time you got us into toxic financing because of the out of control cost structure (not to mention daily catered free lunches for all employees, etc. etc.). Yesterday's announced delays were no surprise. How could you expect better, given the history of delays and lack of execution because there is no sense of accountability, so delays are not viewed as problematic apparently in your paradigm. But it kills investor confidence.
I think you still don't get it that the house is on fire. At 31 cents (4.75 post-RS) the stock is at toilette paper grade, while date is coming out that could be worth billions. Are you sitting and waiting for the CEO who has destroyed the company by mismanagement to finish the job and give away the company to short interest, private equity, sharks that are circulating around you whom you've ignored? Or you expect him to pull off a miracle? What are the odds given his history?
Maybe it's time that you Directors do something to create value, after the millions in compensation we've given you. You have the skills, intelligence, hopefully the ethics and decency to see the problem and solve it. Sometimes a problem this bad requires uncomfortable action, e.g., firing of a guy whom you've supported, despite his lack of necessary qualifications, and the results have been devastating for us, who hired you to create value. It's time to urgently act!
Regards
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DEMPSEY MULTIPLE 6-FIGURE DONATIONS BY KARYOPHARM
DEMPSEY MULTIPLE 6-FIGURE DONATIONS BY KARYOPHARM
Dempsey Center confirmed Richard Paulson gave away multiple donations of at least $250,000 each, with our money, and is planning to do so again this year but quietly (so we don't find out)! Verbatim quote below.
Karyopharm has been a PRESENTING SPONSOR (the highest level - even higher than Amgen - because seemingly Richard Paulson and Mike Mason hated shareholders and felt absolutely no sense of responsibility or duty to shareholders who hired and paid them, to create value for the company which is directly correlated with how well the bottom line is driven which these guys don't seem to give a damn about.
Richard Paulson has multiple pictures with the celebrity Patrick Dempsey (McDreamy) because of our money that Paulson gave away because apparently he can't figure out if Karyopharm is a charity or a business. He sure has not run the company like a business. No half-decent business manager would give away money when they're losing millions.
We talked with Dempsey on 22 and 30 January 2025. The lady said in 2024 and 2023 Karyopharm donated at least $250,000 to them each year, and that in 2025 Karyopharm will not be a" presenting sponsor" but will still donate, and doesn't want publicity (so shareholders don't find out I guess). Aside from act of donating to charity, donors also often enjoy and welcome the publicity which helps with their business growth. Our twisted management doesn't seem to care about that, and to the contrary want people to NOT find out. Why?!?! A skeptic could ask that they might be trying to intentionally destroy the company and undermine it financially. Here's the verbatim answer:
"They're actually not downgrading. They're actually supporting at the same amount (minimum $250,000). They want to support on the center side rather than be involved with their name and highlight." In other words, they want to donate 250k of our money in 2025 quietly - without getting any publicity and the associated benefits for the company! That's even when they don't have cash to make their obligations or make it to the readouts because Paulson was having too much fun burning through our cash like a drunken sailor.
Richard Paulson Can't Seem To Conceptualize That Karyopharm Is Not A Charity
Richard Paulson Can't Seem To Conceptualize That Karyopharm Is Not A Charity
15 May 2025
Richard Paulson Can't Seem To Conceptualize That Karyopharm Is Not A Charity. It's too engraved in the dysfunctional "culture" otherwise.
We've just learned that Karyopharm has made another large donation to Dempsey Center. We spoke with their representative not long ago who said Karyopharm had given two large donations of over $250,000 per donation in 2023 and 2024, and that in 2025 it would do the same but wanted to keep it hidden, which is a very creepy idea that's not explainable except to support the skeptics' view that their agenda is to destroy the company and current shareholders but that's hard to believe. It's usually the case of incompetence not conspiracy with shorts...
Patrick Dempsey, any comments? We warned you not to accept donations from Karyopharm because of their dire financial state caused by this very type of lack of financial discipline. Also, Richard Paulson, Barry Greene, Chen Schor, Garen Bohlin, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su don't seem to grasp that Karyopharm is not a charity to give away large sums of money to other charities while it's bleeding cash and is at a very dangerous existential risk in its present form which means shareholders who have invested over a billion dollars in the science are at the risk of getting wiped out if this mismanagement continues. So it's ethically problematic, in our view, for Depmsey to accept such donations.
Wasting LARGE SUMS (Multiple 6-Figures) On Patrick Dempsey's Charity
Wasting LARGE SUMS (Multiple 6-Figures) On Patrick Dempsey's Charity
We spoke with his charity which said Karyopharm is going to donate another $250,000 to them in 2025 (having given over $500,000 already), but this year it doesn't want to do so as a sponsor because they don't want that fact to become public!! They want to give away $250k of our money without even receiving perks that companies usually receive (e.g. publicity), apparently because Paulson doesn't want the shareholders to know he's destroying our assets even more by giving away so much money at a time in company's history when it should be fighting for its survival. Giving to charity is fine, if you make money.
Richard Paulson, Barry Greene, DONATED multiple $250,000 of OUR MONEY.
Richard Paulson, Barry Greene, DONATED multiple $250,000 of OUR MONEY.
Dempsey told us that Karyopharm plans to donate another at least $250,000 in 2025 but wants to do it in a low-key way, and without receiving the publicity donors appreciate - which means they didn't want investors to out? What kind of wicked management is this?!
To: Mr. Patrick Dempsey c/o Mr. Brandon Hotham
To: Mr. Patrick Dempsey c/o Mr. Brandon Hotham
Dear Mr. Dempsey, Mr. Hotham and Team
Thanks for your great work and contributions to the society and cancer patients. I am writing on behalf of Karyopharm investors who are disgusted with Karyopharm CEO's Richard Paulson, and its Board of Directors, for gross mismanagement of our assets, including utter lack of financial discipline.
Richard Paulson donated over $250,000 of our money to your charity in 2023, and another over $250,000 in 2024. Mind you the stock: KPTI, has been destroyed by Paulson's egregious mismanagement of the company, including actions such as giving away 6-figure donations when the company can't make ends meet, can't get the stock to stay listed (so forced to do a reverse split), has sucked the life out of the stock by endless dilutions, and even resorting to toxic financing which cost us over $10,000,000 a quarter just in interest payment!! And losing millions every month, while sustaining a plush, splurging expense structure that has killed the company, but benefited insiders, including his $1.2MM++ earnings, and endless benefits for insiders, and huge pay and bonuses for Directors...
With that kind of dismal financial situation, the irresponsible CEO still gave away 6-figure donations to you in 2023 and 2024 (as well as donating a lot to other entities). If you noticed, he gave away to Dempsey Center more than Amgen did! Why? What the heck? Good questions. It's a mystery to us, and we won't take your time here speculating. Part of the issue is the corporate culture which is confused and can't see clearly if it's a for-profit or non-profit (purely mismanaged). Surely, it's been without profits since its inceptions and burning over a billion dollars in shareholder money. But it acts like a big charitable foundation, by e.g., giving away 6-figure donations to Dempsey Center; and it has an unsustainable overhead / cost structure because apparently Paulson has no conception of austerity measures, driving the bottom line, extending runway, etc.
To make things worse, as per Dempsey Center's own admission, Karyopharm, as led by value-destroyer Richard Paulson, has earmarked a donation of another over $250,000 in 2025 but it wants to do so quietly - without the publicity and perks that large donors receive -- we guess, because it wants to do so without investors finding out - which in itself is very creepy. So, we are writing to urge you to REJECT any further monies from Karyopharm. It would not be ethical and it wouldn't be kosher money. Richard Paulson doesn't seem capable to comprehending these concepts, e.g., you don't give away 6-figure donations when you're losing hundreds of millions, are at existential risk, have destroyed your investors' value by 98%.
If you're into stocks, maybe you want to pick up some KPTI shares. When Paulson is hopefully fired, KPTI will take off. He's the biggest burden on the stock, in our view.
Best Regards
Paulson Wasting Our Money On McDreamy
Paulson Wasting Our Money On McDreamy
This visual (attached) shows one of numerous instances of Richard Paulson engaging in just one of many cases of company asset destruction / wastage - which is exactly what it is when you give away hundreds of thousands of dollars when you are facing critical existential risks due to your financial mismanagement and wastage of assets! But Paulson doesn't grasp that concept because of total lack of relevant experience and ineptness - or his destruction of KPTI is intentional. Ask yourselves if you'd want to be on board a ship that needs to sail through the roughest weather, and have as a Captain a chump who's never done that before -- and even worse, may have a conflict of interest and wants the ship to sink (since there is big money to be made by entities when the ship sinks -- shorts have maintained a ~20mm short interest even at 60 cents!!). This is not an outrageous speculation given Paulson's own past actions and wastage of our assets and total disregard for the mandate he's paid for. But as the saying goes, it's usually incompetence rather than conspiracy.
FIRING RICHARD PAULSON
FIRING RICHARD PAULSON
Regardless, what every prudent Board would do is to mitigate risk, and replace Paulson with a competent CEO -- or an interim CEO who understands the basics of business and is not high on this delusional idea that he was hired to splurge, burn through our assets, to run a "vacation club" incredibly low-productive, wasteful corporate culture with many signs of bad, reactive management always at shareholders' cost - to cure cancer with absolute disregard for people who are paying his salary and hired him to create company value for shareholders (this is MBA-101). The urgent step is to bring Paulson down from his seat of power immediately and stop his access to spending corporate assets. He's not fit in our opinion to have control over our assets and company decisions, and his own past actions and track record of almost 4 years of asset destruction, and over 1 Billion Dollars in market cap loss, is the basis why so many investors do NOT trust Paulson. Trust in CEO is key for attracting investment which is key for driving company value. The Board is responsible for this literal disaster caused by Paulson; the Board has failed its duties, and will be held accountable. There's an easy way, which is to fire Paulson and take this runaway bull by the horns, and overhaul the wasteful culture which allows you to immediately save millions, and stop wasting assets on giving them away (even more than Merck in this example), and so on - steps any prudent business manager would take to get through the hard times. Paulson has never done it - and it's not in his skill-set or DNA.
FIRING MIKE MANO
FIRING MIKE MANO
Firing Mike Mano is another important step which immediately saves you over $600,000 in wasted money. You already have a senior corporate counsel who is a very competent lady and can do everything Mano does (which is not much) and much better. A senior bio-pharma lawyer we know who worked with Mike Mano before sold his shares in $6 range because of lack of trust in Mike Mano's abilities.
This Photo-opp with McDreamy cost KaryoFUN shareholders $250,000 (even more than Merck!) in 2023 while KPTI had tanked 98% due to CEO Richard Paulson and Karyopharm Board’s lousy, incompetent, self-serving, irresponsible, or corrupt mismanagement of the company.
In 2024, Paulson and the incompetent or corrupt Board (Barry Greene et al.) gave away another at least $250K of our money to McDreamy despite booking millions in losses, sucking all the life out of KPTI by incessant dilution and asset wastage, and then the chumps turning to toxic financing to dilute shareholders by another ~100 while shamelessly sustaining their chronic spending diarrhea.
Having crippled the company, they issued a default risk, begging for reverse split so the same incompetent CEO does it all over again to a $8 stock. Despite a Going Concern, delisting risk, no cash, Paulson has earmarked another $250K to Dempsey, but this time, secretly, as our investigation has revealed, so shareholders don’t find out! These givings have never added value to KPTI even indirectly because Paulson has no idea how to drive bottom line and create value for KPTI. He’s been on a fast-track of value destruction since he was hired. Fire this creepy curse of a CEO and KPTI will take off.
2024
2023
KPTI DIRECTOR DEEPA PAKIANATHAN DUMPED A TON OF SHARES THAT STARTED A MAJOR SLIDE - RIGHT AFTER THE COMPANY RECEIVED BAD NEWS FROM BIOGEN - AND RIGHT BEFORE THE PUBLIC WAS INFORMED. SMELLS FISHY AS HELL. Fox sitting right among the hens?
KPTI DIRECTOR DEEPA PAKIANATHAN DUMPED A TON OF SHARES THAT STARTED A MAJOR SLIDE - RIGHT AFTER THE COMPANY RECEIVED BAD NEWS FROM BIOGEN - AND RIGHT BEFORE THE PUBLIC WAS INFORMED. SMELLS FISHY AS HELL. Fox sitting right among the hens?
June 7 KPTI gets news of termination of contract with Biogen
Mike Mano told me the company did not inform the Directors (I find that hard to believe). Of course she could have found out from her own industry sources. She's very well connected. I'm not saying she engaged in insider trading - I just don't know.
8, 9, 10 June 2022 - Karypharm Director Deepika (Deepa) Pakianathan's Delphi funds sells over 500,000 shares from $6.50 (PRE-RSS) when it started selling down to $6. The stock never saw that level again.
10 June 2022 Delphi/D files Form 4.
15 June 2022 Finally, Karyopharm gets around to disclosing the June 7 news. Mike Mano told me later they're trying to do better at timing of press releases - we're talking 2022! After spending a billion dollars in investor money these clowns still don't have the timing of their press releases right - supposedly. This excuse of Mano makes his earlier line about her not knowing etc. less believable. This was not an issue with timing of press release.
16 June 2022 - Biogen Halts ALS Asset Agreement with Karyopharm.
Coincidence? Mike Mano protected her saying oh it wasn't her, it was the funds that she's a manager of! Great excuse. And that she didn't know about the Biogen deal. I don't believe it. She's a biotech industry insiders and she may have heard - or her colleagues may have heard. When was the last time a hedge fund had sympathy and didn't act on channel checks and information? I am not accusing her because I do not have evidence that she or other fund managers in her hedge funds knew, but I do not believe that they did not know.
It's something for SEC to investigate and the statute of limitation on these is long. I'm guessing Michael Kauffman and Sharon Shacham (both of whom I respect as great scientists) probably dumped their mega holding in that range too.
Deepa is also soooo rich. She lives in a $9mm house according to public records.
More notes I found on this:
Stock tanked from June 8 onwards [from 6.50 (97.50 post-RSS)] and Delphi got a great price. Deepika as Director should have been informed on June 7.
Company’s lawyer, Mano, told me the Board was not informed of the news prior to Deepika’s June 8 sale. They absolutely should have been. If that's the case, which I find it hard to believe given the importance of the news, then it's not the first time company’s showing competence issues around legal stuff.
If we believe Director Deepika Pakianathan didn’t know, then we have to believe June 8 sale was totally random, which is very fishy. KPTI rationalizes it by saying Delphi was a long term venture investor blah blah and they just happened to pick that date out of the blue to sell! But key question is, did Deepa know or not? If she did, this is sale based on insider info and it’s unlawful. If she didn’t know, the timing was a coincidence and very fishy. Take away: company’s legal department needs a lot of help! Michael Mano has once again shown to be weak.
Mano told me they’re trying to improve their PR release timing. Give me a break. After years and burning through hundreds of millions in investor cash, and having professionals on the job, they still can’t get this right? Reminds me of the gang that couldn't shoot straight. Great science but shortcomings (or corruption?) that should not exist given all the money they spend. I’m not selling my shares till buyout, regardless.
Summary of Deepika Pakianathan's trades after bad news and before the public finds out
Summary of Deepika Pakianathan's trades after bad news and before the public finds out
(I am not saying she knew the bad news and engaged in insider trading but it's hard to imagine company directors not knowing such news via the company or their own industry sources!)
Company: Karyopharm (KPTI)
Director: PAKIANATHAN DEEPIKA (Deepa) c/o DELPHI VENTURES (63 BOVET ROAD, San Mateo, CA 94402)
On June 7, 2022 company got a termination contract notice from Biogen which it didn’t make public till June 15.
On June 8, 2022, before that important news related to Karyopharm’s partnership with Biogen becomes public, PAKIANATHAN DEEPIKA c/o DELPHI VENTURES (63 BOVET ROAD, San Mateo, CA 94402) sold 322,825 + 3152 shares at $6.5033. And another 212,000 shares on the following days as the stock tanked to 6.17 and 6.
On 10 June 2022 Delphi made the announcement via SEC form 4 signed by Matthew T. Potter, Attorney-in-Fact for Deepika Pakianathan.
On 15 June the company filed an 8K that “On June 7, 2022, Karyopharm Therapeutics Inc. (the “Company”) received written notice from Biogen MA Inc. (“Biogen”) that Biogen has elected to terminate the Asset Purchase Agreement entered into between the Company and Biogen dated January 24, 2018, as amended (the “Agreement”).
Stock price hit a low of $4.41 on June 14, 4.36 on June 15, 4.02 on June 15. Delphi Ventures by selling ahead of public release of information gained an extra $1.3 million – it sold a day after the news which was not released to public a week later.
Delphi has had other regulatory issues with SEC in the past.
Mike Mano (Karyopharm's lawyer) wrote me in response to my question - on 1 July 2022: “Furthermore, you should know that Dr. Pakianathan was not aware of Biogen’s termination of the 2018 Asset Purchase Agreement at the time of the Delphi sales.”
How can Mike Mano be so sure that she was not aware. He can just know that nobody from the company told her (maybe he can't even be sure of that). She could have found out from her own sources (she is very well connected within the industry). I'm not saying she had advanced knowledge - but I it's hard to buy Mike Mano's argument, especially his next line saying we will try to do a better job of released press releases on time (after years and hundreds of millions these guys still haven't gotten that simple task down? That's hard to believe too and makes his earlier line less believable, in my view.
How could a board member not have known about this important development? Company contends that a) the board member did not know, was not informed of this important development, and furthermore, sold a ton of shares on the days following the negative news BEFORE public knew about the negative event -- out of pure coincidence before the news becomes public a week later. This stinks like a rotten fish.
June 3 close: 6.25, June 6 5.72, June 6 6.16, June 6 high of 6.84.
On 7 Jul 2022 I held a call with the company. I brought up this detail timeline. Their response was that the board was not informed of the Biogen news (very hard to believe) that it received 7 June -- and just by pure coincidence the director dumps millions of dollars of stock before public finds out about the negative news that further made the stock go down of course when it became public.
My response to Mike Mano's response to my inquiry
My response to Mike Mano's response to my inquiry
Dear Mike
Many thanks for the note.
Note: By She in this case I mean Delphi.
The core of the issue is whether Dr. Pakianathan was aware of Biogen’s termination of the 2018 Asset Purchase Agreement at the time of the Delphi sales or not. You say she wasn't.
Some people in our investor group think
She may have been aware, given the sale happened a few days before the announcement was made.
The stock acted quite strangely running up with very little volume just prior to her sale.
Delphi has had regulatory issues in the past.
So some people find this transaction suspicious from multiple angles, thus, the idea of having the regulators scrutinize it.
I know SEC has different requirements for the timing lag in PRs but if you could provide some additional details on when exactly the company first received notice from Biogen, that would help clarify the issue.
Many thanks and best regards
Reza
LETTER FROM PHARMA INDUSTRY INSIDER TO RICHARD PAULSON AND THE BOARD OF DIRECTORS, MARCH 2022, ASKING FOR COST REDUCTIONS WHICH WERE TOTALLY IGNORED
LETTER FROM PHARMA INDUSTRY INSIDER TO RICHARD PAULSON AND THE BOARD OF DIRECTORS, MARCH 2022, ASKING FOR COST REDUCTIONS WHICH WERE TOTALLY IGNORED
Richard Paulson and IR and the Board completely ignored this letter. Of course selling the company which was the right thing to do wasn't on their agenda because they were set to make millions if they didn't sell the company, as we've seen, at huge cost to shareholders.
Richard Paulson March 8, 2022
Karyopharm Therapeutics
85 Wells Ave., 2nd floor
Newton, MA 02459
Greetings Richard,
My name is <snipped for web posting>. I'm an investor and have been for a little over 3 years. I currently hold about 65,000 shares, more than I've ever held. I’ve reached out to investor relations and have not heard back, hence this letter. I have multiple decades worth of biotech investing experience, and nearly as much experience in drug/device commercial development. I believe the company is at a very, very crucial juncture, one that has the potential to take its destiny in two drastically different directions.
...The p53 data in the SIENDO trial is truly amazing. My aunt died of endometrial cancer and Xpovio could have significantly extended her life. The asset's potential cannot be overstated given what the trial showed.
However, despite all the positive momentum, the stock languishes. And this goes to demonstrate the crushing power of markets and exogenous events. Because despite the skill with which the company executes, you cannot change in which tumor types the asset performs, the stringency of the FDA's interpretations, Putin's whims, the power of short sellers, or the shortsightedness of market analysts.
Put quite simply, the company is in a precarious financial situation with the additional trial requirement and subsequent revenue delay. I believe you are one or two more exogenous shocks away from a share price that is unrecoverable. The next Clovis.
The share price will not support meaningful cash being raised without significant dilution. Royalty agreements can also be great, and I commend previous deals, but more will significantly hamper upside enterprise value in an acquisition. Convertible debt obviously presents its own challenges with which the company is intimately familiar. In addition, I’m concerned about spending across the company’s expenses, and I’d encourage a thorough round of ‘belt-tightening.’ I'm not the only individual investor losing patience and seeing the tensions mount, and I guarantee large institutional investors are having similar thoughts.
You very much need to begin, or hasten, the process by which the company looks to be acquired. A company with the resources to power additional trials in areas where Xpovio has shown promise can truly take the asset to the next level. It's the correct path for the company, for shareholders, and for patients who could benefit from the promise of the technology.
I will also be attempting to distribute this letter to the board of directors, but it would be appreciated if you could distribute as well.
Regards,
I referred to the letter above in an email to Paulson and wrote this PS:
PS -- Clovis got taken out for fraction of pennies on the dollar after burning all shareholders with bankruptcy. That's where your incompetent team is taking the company and it's your fault Richard.
I hope you have a moral high ground and integrity to deliver results for the 7 figure package we're paying you?! Or you lack those things and are willing to see this ship sink deeper and deeper as long as catered free lunches keep coming and your inept team collects 600k+ packages, because you don't have the strength, resolve, insight, experience, courage, to get rid of the weak members of your team, or maybe you don't have the integrity and are afraid of a strong CFO like apparently Kauffman was -- that's why he hired these guys because he was better than them and he was awful as a CEO -- maybe you just want a comfortable life - punch the clock and together with our horrible CFO keep burning through cash like drunken sailors.
I have worked with top notch CFOs and even half of one would put your ship on the straight path. The big pharma which Kauffman said we said "not yet" to, have investment people who can play your Mikes like yo-yo any day and adore them, and adore you for being such a weak CEO and so complacent to collect a 7 figure salary and not even be able to have a strong CFO and Legal Counsel on your team.
I'm sure both Mikes are nice guys and I wish them well but they are NOT at the caliber the company needs. I don't think you sense the urgency. The Mikes surely don't, in my view -- and if they do, they confuse effort with results, and love excuses.
I don't know if you get it Richard. It's about personal culture and corporate culture. Karyopharm's corporate culture is cancerous and it's killing the company. What about this you don't understand? And if you did, and if you have integrity, you will not be complacent.
All the above are in my opinion, of course.
Analyst Sentiment May 2025
Analyst Sentiment May 2025
Baird (Michael Ulz): Outperform; Target price: $42.
The problem is M. Ulz doesn't work for Baird any more (https://www.linkedin.com/in/michael-ulz-5b2baa/), which says how much these news sources can be trusted. Baird hasn't responded yet to our inquiry.
Barclays (Peter Lawson): BUY, Overweight; Target price of 5 (remember, Barclay's had a huge price target and called Karyopharm a prime acquisition target. The Board apparently resisted it. They could have probably gotten over a billion for the company. Instead, they destroyed a billion in shareholder value, and Barclay's price target is a pathetic $5 post RS (which is 0.33 - 33 cents - pre-RS). That's Barry Greene, Garen Bohlin, Richard Paulson, and the rest of the useless, incompetent Board - and Mike Mano, and Mike Mason for you.
[UPDATE: I assume the $5 target is Pre-RSS unit, since Peter Lawson had that price target before the reverse split, e.g., on 20 Feb 2025 (RSS happened on 26 Feb 2025). If so, Barclay's price target is $75.
RBC (Brian Abrahams): BUY, Outperform; Target price: $33.
Institutional Outreach
Institutional Outreach
Dear Institutional Investor in KPTI
Please vote to oust Garen Bohlin from Karyopharm Board. Voting deadline is 27 May 2025. Please see details below. Here's an information sheet on him https://x.com/karyowatch/status/1907882950785433868 - he's been a Director for 12 years, is 77 years old, has been compensated millions of dollars, hasn't contributed anything that has translated to value, has a marginal role on the Board which other 7 directors can do in their sleep. KPTI has tanked 99% on Bohlin's watch, primarily due to irresponsibility, mismanagement, lack of financial discipline, having a few low competence persons in top posts, no sense of urgency, no accountability to their mandates to create value.
The Board is already over-staffed, with 9 Directors, having been compensated over 40 million dollars. Ousting Bohlin is a step in the right direction, and will immediately save us money, and will have no impact on the Board's already poor performance and repeated breach of their duties as exposed by our investigation illustrated here: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement.
Please consider getting active as an investor. The current inept CEO and Board cannot be trusted and have been on a path of value destruction. The potential reward is huge. KPTI could easily be valued billions of dollars. It's only valued at $40mm today because of mismanagement.
We are a group of retail shareholders who follow KPTI very closely and we collectively own a significant number of shares. But we need institutional help to drain the swamp of this rotten status quo which only benefits the insiders at our cost. Their bonuses are not tied to stock performance. They're hugely over-paid for their pathetic performance. They've handed us delay after delay, most of which could have been prevented with better, proactive management who wants to drive value, drive the bottom line. Instead, these clowns gave multiple donations to charity for over $250,000 a shot, with no sense of duty to shareholders, no sense of austerity or comprehension of the bottom line's impact on the company valuation.
CEO Richard Paulson was a Board member until 2021, and knew from the inside how useless the Board was, so he saw the opportunity, after becoming a CEO to splurge the hell out of the funds, to the benefit of insiders, outsides, charities, but never the shareholders. The stock has tanked 99% since he joined the company. He furthermore lacks the skills, experience, and track record. He was never a CEO of an entire company - always worked for sub-divisions of wealthy companies, so he has no conception of financial austerity, no experience in running distressed companies, or turnaround, and none or little experience with investors, analysts, institutions, investor relations, short sellers, etc.. His modus operandi has been "management by ignorance".
He absolutely needs to be fired, but the Board has refused to fire him, it seems because they're collectively the keepers of the status quo which benefits themselves.
The company should have never gotten to its current state. Paulson has no credentials in science and has been a business failure. Chairman Barry Greene's education is as high as a Bachelors in industrial engineering! No life sciences, and no management credentials. The history of the complacent, entitled culture that views shareholders as donors goes further back and is explored in the above link. Many investor have warned them for years. They always ignored our warnings, and everything we predicted became true. It was a nightmare that we saw coming but could not believe it would manifest because it could have absolutely been prevented.
The company had plenty of cash runway for the critical trials. But Paulson, Greene, et al., blew it because they could not trim their spending diarrhea: the wasteful culture! They have a very weak General Counsel (Mike Mano) and had a very weak CFO and a disaster as head of IR (Mike Mason), whom in trio with CEO Paulson debilitated the stock. Instead of controlling their bloody spending (daily free catered lunches for all employees, more benefits that most US companies, very low productivity -- full list is provided in the report linked above) -- they turned to toxic financing which has left us with a 11 million a quarter in just interest payment. And even then, when the stock was at danger of delisting, this awful wealth-destroyed gang still gave away over $250,000 in donations to Dempsey in 2023, and another over $250k in 2024, and reportedly in 2025, while they don't have enough cash to see through the critical billion-dollar-value readouts.
You can help, by first, voting Bohlin out. And then, for those of you with large number of shares, to try to get a seat on the Board and get some of these "dead woods" to step down - like Deepa Pakianathan who sold a ton of shares in 2022 after Biogen terminated a contract and before the public was notified. And Chen Schor and the rest of them -- so long on the Board, compensated millions, but have almost killed the company by failing their duties to let Paulson incompetently rampage through hundreds of millions of investor assets, while he went on unnecessary travels, wasted so much money aside from the giveaways mentioned above, while handing us delay after delay (which also extended his lucrative gig that pays him millions with no accountability). He's just the wrong guy for the job as CEO.
Now they're supposedly going to pull off a miracle and come up with cash (probably by further damaging shareholder base) to get to one key readout which they again delayed last week, and another major readout in first half of 2026. Both these indications (MF, EC) could be multi-billion dollar opportunities if the company is well managed (a new CEO is a must).
As a medical doctor / seasoned investor wrote: "I have never seen worse governance in a company in my life". Excellent science, life saving, cancer curing drug, in hands of an incompetent, irresponsible, self-serving Board and CEO.
We also recommending voting WITHHOLD on Zhen Su, and vote AGAINST "Increase share count for incentive plan" (item 2); and AGAINST in "Approve compensation" (item 3).
With right leadership, a new CEO, the company can seize the opportunity to be valued multi-billion dollars. But not as long as Paulson is a CEO, and the same inept Board goes unshaken. Please help us with your vote and activism.
Many thanks for your understanding and help. Feel free to reach out to us for any help (we are also considering suing the Directors for personal liability, and a class action or Derivative suit) if they don't take meaningful action to save the company. Some links follow.
On behalf of many long-suffering, shareholders.
<>
PS -- one pager profile on each Director:
Richard Paulson: https://x.com/karyowatch/status/1919835560811618487
Garen Bohlin: https://x.com/karyowatch/status/1907882950785433868
Barry Greene: https://x.com/karyowatch/status/1907890798559138054
Mansoor Raza Mirza: https://x.com/karyowatch/status/1907858565290770852
Deepa Pakianathan: https://x.com/karyowatch/status/1908238033695949191
Chen Schor: https://x.com/karyowatch/status/1907869788904284364
Christy Oliger: https://x.com/karyowatch/status/1907859434501497310
Zhen Su: https://x.com/karyowatch/status/1907808406188044697
On Mike Mano (extremely weak General Counsel): https://x.com/karyowatch/status/1909973131705319748
Recent letter to the Board: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement#h.9zp9ijy897ig
Investigative research: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement
Deepika (Deepa) Pakianathan's fishy sales: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement#h.a8pghzww0v37
Scandalous donations to Dempsey: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement#h.7cvm67sk6l99
Paulson's unnecessary California trip: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement#h.d90woaix7p9o
Paulson's resumé walk-through: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement#h.jmou8zyp12ma
And many letters, pictures, analysis, etc. on this page, depicting the pain, suffering and losses shareholders have gone through as we saw this incompetent Board and CEO destroy our stock while getting richer and richer themselves: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement
RICHARD PAULSON, BARRY GREENE, ET AL.'S VACATION CLUB / CHARITY FUNDED BY SUFFERING, BETRAYED, WRONGED SHAREHOLDERS
RICHARD PAULSON, BARRY GREENE, ET AL.'S VACATION CLUB / CHARITY FUNDED BY SUFFERING, BETRAYED, WRONGED SHAREHOLDERS
Richard Paulson, Barry Greene and the rest of the useless Karyopharm Board which has destroyed 99% of KPTI value runs the company like a Vacation Club / Charity which has Forgotten it is a FOR-PROFIT BUSINESS ACCOUNTABLE TO INVESTORS. KaryoFUN pays its employees for massage, juice cleanse, grocery delivery, tutor for children, personal trainer, etc. On top of daily free catered lunches, 4.5 day work weeks (for salaried employees who are supposedly counting their hours!), work from anywhere, "work fit for life", even work with dog on your lap, numerous events, parties, outings, celebrations, unnecessary travel, especially for CEO Richard Paulson who doesn't miss any parties or events that add zero value to the company, on shareholder tab, double vacation of most US companies on top of paid leave, paid volunteer time, etc. etc. - you join that vacation club as an employee and you got it made.
Richard Paulson got it made for himself, and kept the weak CFO Mike Mason and weak GC Mike Mano who wouldn't rock the boat - and knew from inside how useless the Board was, no sense of accountability, urgency, responsibility - just get their fat paychecks and do nothing that's ever translated to value. So Paulson got that carte blanche and hundreds of millions of value and destroyed it all - even gave it away: donating multiple 250K chunks of our money to charity. Not to forget they threw away money also at training interns that again added ZERO value to the corporation. And not to mention bad incompetent business decisions, lack of proactive management, and numerous delays they blatantly handed out.
The complacent, inept, irresponsible, useless Board of Directors ignored the warnings of us investors for years as they kept destroying our assets by their mismanagement, lack of financial discipline, and incompetence. And they ignored our expert advice and did not fire Paulson. Every day that firing of Paulson is delayed KaryoFUN is one step closer to demise. And the Board is liable and responsible for that and WILL be held accountable.
If you ask yourself "what the hell is wrong with their minds - are they on drugs, or are they compromised and in bed with shorts, private equity, hedge funds, pharma which wants to buy they for peanuts and turn it into a multi-billion dollar company by putting a competent CEO on the job and firing Paulson's ass then and wipe out the long suffering shareholders?" join the crowd.
If you think something terribly stinks in this picture, join the crowd. If you wonder why KPTI dropped 99%, see the answer above: irresponsible, despicable mismanagement.
KPTI SHORT INTEREST UP WHILE PAULSON GREENE MANO ET AL. STILL HAVE THEIR HEADS IN THE SAND AS THEY COLLECT THEIR BIG BUCKS WITH NO ACCOUNTABILITY, NO URGENCY, NO FIDUCIARY TO THEIR MANDATE
KPTI SHORT INTEREST UP WHILE PAULSON GREENE MANO ET AL. STILL HAVE THEIR HEADS IN THE SAND AS THEY COLLECT THEIR BIG BUCKS WITH NO ACCOUNTABILITY, NO URGENCY, NO FIDUCIARY TO THEIR MANDATE
Short interest grew by 2.2 million (pre-RS) shares. The enemies of KPTI love Mike Mano, Richard Paulson, Barry Greene, Garen Bohlin and the rest of the dorks on the Board who have never given a damn about shareholders who hired them to create value – and have destroyed over a billion dollars of our assets, as they've paid themselves big bucks, splurged and sustained a vacation club style company, and even given away our money in 250,000 lumpsum donations.
Are they in bed with the short seller? They surely are no friends of shareholders. We warned them so many times to fire Richard Paulson and get a half decent new CEO who can turn around this ship that has huge potential. They ignored our calls ignoring years of warnings calling for financial discipline. The problem for the Directors is you can’t destroy investor assets by such reckless irresponsible mismanagement and lack of financial discipline and get away with it. The Directors are liable and will be held accountable.
KaryoFun Q1 2025 Results: More Reasons Why the Lousy CEO Richard Paulson Should Get Fired after having destroyed KPTI by delays after delays, and crazy, unsustainable cost structure.
KaryoFun Q1 2025 Results: More Reasons Why the Lousy CEO Richard Paulson Should Get Fired after having destroyed KPTI by delays after delays, and crazy, unsustainable cost structure.
They have delayed 2 out of 3 goals for MF: Enrollment from 1H25 to 7/25. Top-line for P3 SENTRY from 2H25 to early 26.
Interest expense for the Q12025 was $11m compared to $5.9m for 1Q2024 because of toxic financing Paulson, Greene, Mason, Mano and the rest of the gang that can't shoot straight got us locked in while they totally failed to adequately control costs, reduce the fat, and Paulson's spending appetite on himself and the KaryoFUN vacation club. He doesn't grasp that money doesn't grow on trees and when you continually alienate shareholder and don't deliver results because you're too busy spending their money, they don't trust you and funds dry up, and since you're not capable of meaningfully cut the costs and the lousy, trim the wasteful culture (including giving away 6-figure donations), you screw the company, screw the stock, make it drop 99% because you suck as a CEO and should be fired.
The company with a tiny market cap with no cash left beyond a few months is spending fucking 250 million in 2025 - 110 million more than its projected revenue! That says enough about how lousy this CEO and Board are and how dysfunctional the operating paradigm is. Unbelievable!
Firing Richard Paulson is the only salvation for Karyopharm and its suffering shareholders. Wall Street will cheer a new CEO, and shorts will weep when this value destroyer CEO is fired.
RICHARD PAULSON WASTING ASSETS AT JP MORGAN CONFERENCE?
RICHARD PAULSON WASTING ASSETS AT JP MORGAN CONFERENCE?
Was it justified for Richard Paulson and crew to spend thousands of our dollars to go to California in January 2025 to attend JPMorgan Healthcare Conference which they were not invited to present, having killed the stock by their mismanagement, while the company was/is at an existential risk, mired in toxic financing because of Paulson/Greene’s chronic spending diarrhea (runaway cost structure) and irresponsible and incompetent mismanagement of the company, including giving 6-figure donations while bleeding cash!
Based on our research, it seems their trip was unjustified, but Paulson doesn’t seem to have a sense for driving the bottom line and creating value for shareholders. They arrogantly seem to look at shareholders as a one-way source of funding: take our money, spend it, and don’t feel an iota of accountability, guilt, shame, and to the contrary, they seem complacent and feel entitled to this picture, as though we the shareholders donated our money to charity – Richard Paulson and the useless Karyopharm Board seem to think of the company as a charity to benefit the insiders, the patients, and just needs to stay afloat to do that: the idea of creating shareholder value is not part of the fabric of this useless Board of Directors, judging by their behavior.
Also notice their stock Form 4 tax withholding are always sales and not as many companies do, using Transaction Code “F” which is withholding of shares to cover tax withholding obligations in connection with the vesting of restricted stock units. Also notice how the huge bonuses they give themselves is not tied to the stock performance as is the case in many companies. These and so many other types of flipping of the shareholders is part of the reason KPTI is in the toilette, down about 99% on the watch of most of these Board members including Richard Paulson. Other reasons include lack of financial discipline and so many cases of mismanagement of various areas of the business.
But one thing you can count on is: Richard Paulson won’t miss a single party. So, he had to go to California to JPM. His excuse for doing so is stated in his tweet announcing this total wastage of our money (he’s so incompetent about creating shareholder value he doesn’t realize investors don’t cheer when he continues to waste our assets and never come through with value creation. His past trips to JPM had resulted in zero value for the company. This year’s would be no different except to hurt our bottom line which Paulson doesn’t seem to give a sugar about.
On 13 January 2025 he tweeted: “We are looking forward to meeting with #biotech industry professionals at #JPM2025 and discussing #cancer therapeutics”. Let’s get this straight: Our horrible, asset-destroyer, live-it-up-on-our-funds CEO who has claimed before on LinkedIn that he spends a significant amount of his time chatting with other CEOs (because he has forgotten his mandate and has no clue how to create shareholder value, and that’s not even on his priority list: having been a total failure by the numbers, he seems to be fooling himself and the useless Board that somehow his mission is to cure cancer and not to create shareholder value. He has an MBA so he must know why corporate management are hired, but he likes to ignore it. The paradigm seems to have morphed into his mission being to a) to enrich himself, give continuity to his own lucrative gig, enrich the Board who keep passive, useless, hands-off, good-for-nothing, as long as they get their fat salaries and bonuses (which are again not tied to the stock performance and shareholder interest), and b) to try to cure cancer – which just seems to be an excuse for his total failure in his mandate and reason he was hired: to create shareholder value.
And that’s if he’s not compromised and is not batting for shorts and rogue entities who want to buy the company for pennies on the dollar. Either way, shorts sellers absolutely love Paulson and his former useless CFO Mike Mason and his extremely weak GC, Mike Mano, and their wasteful “vacation club” culture and lack of sense of fiduciary to shareholders. The result has been splendid for short sellers, and disastrous for us shareholders who have funded these self-serving, irresponsible dorks who’ve proven to be utterly incompetent in creating shareholder value.
8000 attendees, busy with companies who are presenting, and one-on-ones for the presenting companies, and Richard Paulson and crew just had to attend an investor conference to discuss cancer therapeutics with biotech pros who are meeting 8000 other people. Come on, let’s get serious. If Paulson truly wanted to hold fruitful discussions with some biotech pros he could have done it from his desk in Boston – assuming he shows up to the office – most people don’t seem to – they have a “work from anywhere” policy at the vacation club, even with your dog on your lap. “Work fit for life” – work is secondary – once you’ve joined the vacation club, you are part of the: everything for insiders at shareholder cost – and flip the shareholders mentality.
How much did past JPM’s contribute to shareholder value? Answer: zero. And that was when Paulson presented. Let alone this year where he was just a nobody – not even presenting. Or maybe he was looking for a job? Doesn’t seem like it. Nobody would pay that guy millions as our useless Board pays him, with the apparent carte blanche to burn through hundreds of millions and apparent no sense of oversight and accountability, and daily catered free lunches, and make useless trips as he pleases because the wasteful corporate culture supports that mentality: saying no to such expenses is not part of the paradigm it seems.
On 17 January 2025 Paulson tweeted: “Our team had productive meetings at #JPM25 discussing our opportunity to define a new myelofibrosis treatment paradigm.” Really? With whom? With potential partners or acquirers who were also talking to 8000 other people? You had to go to California to have such meetings? What was “productive” about it? How did it contribute to company value? How much your many so-called “productive meetings” have contributed to company value? Answer: Zero.
How many thousands of dollars of our money did your “team” spend at JPM? What was your contribution Richard Paulson given you’re neither a medical expert nor a business expert – to the contrary you’ve been a business disaster at Karyopharm. Numbers don’t lie. You’re debilitated the stock to penny status from double digits, by your mismanagement and lack of responsibility, sense of fiduciary, runaway cost structure that benefits insiders, and lack of what it takes and total incompetence to create value – because you’re a rookie and have never managed an entire company as a CEO before, never faced shareholders in this caliber, never deal with Wall Street sharks (they love running circles around you), never worked for financially distressed companies, never turned one around. Result: The disaster CEO that Richard Paulson is, and Barry Greene and the rest of the useless Board are responsible, accountable, liable for this mess and egregious destruction of shareholder value.
Volume
Volume
Volume is back at the pre-RS level. Needs a double and more from here to get to $1 level (Nov 2024). What Richard Paulson, Barry Greene and the other KPTI value destroyers don’t get is that fulfilling their job of creating value requires investor demand for shares, and year after year of betraying shareholders and wasting our assets (including giving multiple 6-figure donations while the company’s bleeding cash) deters shareholders. Even with the best of data Paulson will not create value – he’s taken many tests and failed them all. He seems to be a curse for Karyopharm and shareholders, and firing him is a must to regain investor confidence. And the Board is responsible for Paulson’s pathetic performance and the 99% drop in KPTI value. Chew on that bitter truth for a while Mike Mano; short sellers LOVE you, Richard, Barry and the rest of you destroyers of shareholder assets.
Richard Paulson's Magic: 44 Cents From Double Digits.
Richard Paulson's Magic: 44 Cents From Double Digits.
Wow. It made it to $0.44/share (pre-RS) down from double digits. Wake me up when it’s $150/share (post-RS). The Irresponsible, lazy, lousy, value destroyer CEO Richard Paulson still getting paid millions by the useless, lazy, irresponsible, self-serving Board that's paying itself millions for doing nothing that's ever translated to value. 99% drop in KPTI says it all about his F-team with F-players like Richard Paulson and Mike Mano, and former CFO Mike Mason. This lousy trio did one heck of value destruction unheard of in biotech despite a life-saving, cancer curing drug.
It’s obvious that Richard Paulson needs to be fired given his horrible performance. It will be the biggest catalyst for the stock and a big blow to the short interest, and it can trigger a big short squeeze. Keeping Paulson is endorsing value destruction. But two small details Barry Greene, Garen Bohlin, and the rest of this horrible Board like to ignore:
1) They were hired with the mandate to create value for the company and not just for their own bank accounts while destroying shareholder value.
2) They are accountable and liable for their destruction of company worth, and they will be held accountable.
SHORT INTEREST UP SIGNIFICANTLY - SHAME ON YOU BARRY GREENE, RICHARD PAULSON. THE BUCK STOPS AT THE TOP!
SHORT INTEREST UP SIGNIFICANTLY - SHAME ON YOU BARRY GREENE, RICHARD PAULSON. THE BUCK STOPS AT THE TOP!
Shorts are counting on this self-serving, irresponsible, inept, lazy, value destroyer CEO and Board. Short interest up 241,289 shares = 3,619,335 shares pre-RSS). Mike Mano, Richard Paulson, Barry Greene et al., have incompetently ignored the short sellers and their distortion campaign which has been a major factor in destruction of KPTI value.
This is what happens when a lousy governance doesn’t tie executive bonus to stock performance. They pay themselves big bucks and don’t give a damn about the stock, company value. If they did, they wouldn’t give away 6-figure donations, live it up on our funds, ignore the bottom line; they’d have financial discipline which at KaryoFUN vacation club is a foreign concept. Paulson has no conception of what real austerity means since he always worked for cash rich companies, and he’s had too much fun wasting our money, feeding their faces every day with catered lunches paid by us, unnecessary travel, etc. etc.
The problem for them is that they are accountable, liable, and the law supersedes their self-serving exculpatory and indemnifying clauses, and their directorship careers of big money for doing nothing that has translated to value will end. No company would want such lousy directors (KPTI down 99% for because of mismanagement and lack of financial discipline).
The ONLY solution right now is to FIRE RICHARD PAULSON.
Richard Paulson Value Destroyer
Richard Paulson Value Destroyer
Ok it's up 3 cents (preRS). Paulson must be so excited thinking wow the stock is 4.93. Divide it by 15!! His frikin undeserved fat salary and bonus should be divided by 15 too or at least the Board should have the integrity to tie their own income and bonus for doing diddly squat to shareholder interest like some companies do. At KaryoFUN the Board has consistently made themselves richer at shareholders' loss of 99% of KPTI value. That's what you appear to be: inept, lazy, ineffective, complacent, entitled, irresponsible, self-serving. But your problem is Wild West is long gone and you are accountable and liable for destroying shareholder worth by your mismanagement, lack of financial discipline, dishing out big money to yourselves despite a miserable performance, disregarding your mandate to create shareholder value, even giving away large sums of our money. That's how you've been failures for +- 12 years, and always failed shareholders. Shame on KPTI's useless Board members.
Richard Paulson Signature
Richard Paulson Signature
Above: Paulson’s signature. You can see inside a person's mind and character by looking at their signature. Here's Karyopharm lousy CEO Richard Paulson's. Judge for yourself. Taken on fair use basis from a SEC filing. The guy has destroyed a billion dollars in investor worth, has been paid millions by a lousy Board which has paid itself millions too, despite their destruction of 99% KPTI value. They’ve had no sense of fiduciary, spending and wasting our money like it’s they’re entitled to it. They’ve had no financial discipline, and never seemed to care about due to lack of financial discipline, mismanagement, incompetence, wastefulness, etc. Even gave away large sums of our money because they seem too incompetent to understand they’re running a FOR-PROFIT corporation and not a charity!! They’ve exhibited no sense of urgency, fiduciary, responsibility, loyalty to their mandate, and have breached their duties across the board. These people need to be held to account for every penny of value they’ve destroyed, through massive lawsuits including personal liability. There is NO WAY they could get away with such value destruction.
Various investors comment on apparently another screw-up by the Richard Paulson, Garen Bohlin, Barry Greene… gang that can't shoot straight (or doesn’t want to):
Various investors comment on apparently another screw-up by the Richard Paulson, Garen Bohlin, Barry Greene… gang that can't shoot straight (or doesn’t want to):
https://www.reddit.com/r/KPTI/comments/1k1sszo/reading_modifications_of_ec042_trial_in_recently/
• "The trial criteria was only looking at p53wt. This may have been a strategic error where their new trial design was heading down a path similar to Siendo EC."
• "Why did they start EC-042 knowing that the trial may not have addressed the FDA concerns?"
• "They’d fuck up a wt dream. How does the board not hold someone to account for countless errors in executing trials.”
• “They still didn't update EC-042 trial on ClinicalTrials.gov. The current version lacks all these changes related to primary endpoints and patient populations. It has already been two months since they introduced them. Did they forget it? Don't care? https://clinicaltrials.gov/search?term=NCT05611931”
[Or are not interested in success because they’re too fat and happy with getting their millions no matter what… or are compromised and are setting us up for failure as has always been the case with them (shamelessly announcing delay after delay, and array of mismanagement, wasting money, even giving away our money, etc.)
MIKE MANO (KARYOPHARM’S DISASTER GENERAL COUNSEL)
MIKE MANO (KARYOPHARM’S DISASTER GENERAL COUNSEL)
How did your ignoring the short sellers and their agents professionally disparaging the product work out? How did you being too weak and too shy to even ask financiers if they have a short position work out? How did ignoring the IP violations work out? How did the contracts that got us into paying over 11 million dollars a quarter in just interest work out? How did you being a guard dog of the rotten status quo that just seems to benefit yourselves - the insiders - you and Richard and the Board and beneficiaries of the apparent "vacation club" - at shareholder cost work out?
The answer is clear: It's worked out GREAT for you and your bank account, and disastrously for shareholders who've hired the Board to create value for them. The Board didn't hire you to be their guard dog to make sure their lazy, comfortable, entitled, complacent positions of doing nothing that has translated to value for the millions we've paid them, is not challenged. You were hired to create value for the corporation. No amount of your denying the facts or even if you waste corporate assets getting an external law firm to scrambling facts and fictions is going to save the responsible parties (every single Board member) from accountability and liability.
You ignored the professional disparagement of the products which significantly hurt our sales because you were/are too incompetent to deal with them. On your watch the company formally and cluelessly said online disparagement of its products is not actionable. That how clueless the company has been, thanks to you, regarding this matter, and that also supports the speculation that management never had the competence, care, intention, to create value for shareholders, but instead viewed shareholders as ATM machines to give and give and for y'all to spend and spend, with no sense of accountability.
You and Richard Paulson seem to have preferred to keep your heads in the sand while collecting your fat salaries and bonuses and enjoying the wasteful KaryoFUN vacation club's free daily catered lunches and so on and on while your performance has been absolutely pathetic and a disgrace to shareholders with 99% destruction of KPTI because of mismanagement, lack of financial discipline, apparent shortage of competence, intelligence, talent required to enter deals that create value for the corporation, etc. while having spent hundreds of millions of dollars, including outright giving away multiple 6-figure donations even at the hardest times for the company. That's what you guys are about. There's nothing you can do to change the facts, so it's best to resign Mike. We've had enough of you!
It seems now you've instructed Branden to not untag Karyopharm 😂 but it seems you are avid readers of online commentaries, but for the wrong reason, as described above. You seem more interested to maintain the dysfunctional status quo that has been very lucrative for yourselves, at shareholder cost, than to create value for the people who are paying your salaries. Short sellers love you and Paulson.
Richard Paulson, Barry Greene & The Useless Board: TAKE YOUR HEAD OUT OF THE SAND.
Richard Paulson, Barry Greene & The Useless Board: TAKE YOUR HEAD OUT OF THE SAND.
Shorts / crooks have screwed us many times over because of YOUR pathetic mismanagement and head-in-the-sand, ignorant attitude apparently rooted in your breach of duties, your carelessness, irresponsibility, and disconnect with shareholder interest – thinking of our money as a gift to you to just spend it and even give it away to buy social capital for yourselves or whatever the hell has been your twisted motives.
Now you’re still on the same ignorant path, which is very dangerous. Your entire thesis FALSELY ASSUMES that FDA is clean and impartial, that there are no forces out there which are trying to screw us up in any way possible including corruption and manipulation of the data, etc. YOU MUST PREPARE FOR THE WORST.
There’s a LOT you should have done over the years so we don’t end up in this hole, like firing Mike Mason and Mike Mano after Paulson became CEO but he kept them because they inherited over a wasteful vacation-club culture which Paulson was set to personally benefit from. A strong CFO at the time would have been a hindrance to Paulson’s “spending diarrhea” that burned through hundreds of millions of dollars of our money. Also he came from the Board and knew how useless the Board is and its lack of oversight etc. – so it was carte blanche for him. Paulson should have been fired years ago after so many cases of pathetic failures and mismanagement.
What you need to do is to fire Paulson and Mano right away. And regardless, go into an extremely defensive mode financially by a set of stringent austerity measures – which is impossible as long as Paulson is there because he doesn’t have it in his DNA and the wasteful, entitled rotten “culture” that only benefits the insiders at shareholder cost is too strong. So again, firing him will make that step possible. Also, firing him will be the best defensive move because it will weaken the crooks who are trying to derail the processes around upcoming data. The weaker the crooks, the weaker their clout. You don’t seem to grasp the meaning of this otherwise you would have acted very differently the last years.
Firing of Paulson and sending the signal that your wasteful irresponsible ways of handling investor assets has changes will boost demand for the stock
~~~
It has always been us for them: shareholders provide funding for apparently: useless, irresponsible, incompetent value destroyer Board and CEO to splurge, even give away, with no sense of accountability, fiduciary, urgency. That is how the stock lost 99% - it wasn't due to misfortune or external factors. The blame is squarely on Richard Paulson and the Board.
This irresponsible, entitled, wasteful attitude is so strong that they've gotten used to it and can't seem to shift away from it - especially Paulson who is paid BIG dollars despite a horrendous track record of value destruction. This is the power of rotten status quo which perpetuates itself.
The bad news for them is that they were hired with the clear mandate to create value for the corporation (and not just for themselves) and they are responsible and liable for this modus operandi that has destroyed hundreds of millions of dollars in investor funds. A minor detail they've preferred to forget.
KPTI Valuation Will Go Through The Roof With Firing Of Richard Paulson
KPTI Valuation Will Go Through The Roof With Firing Of Richard Paulson
KPTI should be 10 times higher today if it weren't for lame mismanagement of Richard Paulson, his weak former CFO Mike Mason, weak General Counsel Mike Mano. We warned the Board years ago about these individuals and the need for addressing things they just ignored because they're so weak, and need for financial discipline which in the minds of these weak people excluded taming the vacation club culture's spending diarrhea that includes giving away our money because it's been having so much fun: "believe in the extraordinary" fun you can have working here, work fit for life, if you feel like working you can, from anywhere, and we give you a ton of days off and 4.5 day work week, and free daily lunches, and plush outings, events, travel, you name it we give it to you - funded by shareholders.
And Richard Paulson gave away $250,000-a-shot donations in the toughest times for the company. That's his version of financial discipline and cost cutting BS lines he gave us and the passive useless Board buys it. Investors didn't buy it, judged by the stock price. Paulson killed demand for the stock. Paulson being so weak he was so thankful of Mason raising funds in toxic financing, backed by Mano's legal and deal-making advice which looks like a joke from the outside. The result: huge interest burden, huge overhang of obligations, just because the gang that couldn't shoot straight was given carte blanch by the weak Board that seemed to just like to kick back and collect its salary without doing anything that has translated into value. Numbers don't lie.
Paulson has never managed financially distressed companies, He turned Karyopharm into a mega financial distress with 99% drop in stock price and the useless Board is still counting on him to pull it off! If he fails the Board will carry the burden of financial liability - it's not like they didn't know or weren't warned. They're counting on a guy with zero turnaround experience to turn around a self-made mess.
Firing Paulson is the wise decision. It will make the valuation go through the roof because demand is based on trust and trust is based on performance not cheap talk. Paulson has consistently signaled that he doesn’t give a damn about shareholders, and isn’t capable or interested in running the company like a FOR-PROFIT, driving bottom line, penny pinching, austerity measures in hard times – that’s not in his DNA it seems, and Bohlin, Greene, et al. don’t seem to care either else we wouldn’t be in this hole. Paulson would have been fired 2 years ago.
Richard Paulson, Barry Greene, et al. are Responsible and Liable for Hundreds of Millions in Investor Losses
Richard Paulson, Barry Greene, et al. are Responsible and Liable for Hundreds of Millions in Investor Losses
Some investors on our team have lost over a million dollars because Richard Paulson couldn't curtail his live-it-up, irresponsible cost structure, and still can't despite the company being in an existential threat despite incredibly valuable and potent assets worth billions which we don't have enough money to see through data read, again because Paulson was too busy hanging out with likes of McDreamy (Patrick Dempsey) to whom Paulson donated multiple $250,000 donations for absolutely no valid business reason, and other cases of asset wastage which got us into this hole.
Paulson's version of cost savings excludes the wasteful ways of the vacation club culture, and anything that binds him to also spend less, on our tab. He's never worked for a financially distressed company so he doesn't have a conception of what real austerity measures competent CEOs apply. He's also never done turnarounds. Firing him is a must in our view.
This destruction of over a billion dollars in investor assets would not have happened if it weren't for Richard Paulson's mismanagement, and Barry Greene's sleepy, useless, worthless Board of Directors which has cost us millions, which has apparently grossly breached its fiduciary duties to shareholders and the corporation. Firing Paulson is the first step in the right direction, followed by downsizing of the Board. 9 Board members is a joke, and again, wastage of assets of shareholders.
Fire Paulson and downsize the board, and cut the layers of fat that Paulson is too incompetent to cut, and the stock will take off. Investors invest in businesses not charities or vacation clubs that just benefit the insiders and don't even count shareholders as stakeholders, except to provide funds for Paulson and Greene to waste. This is not sustainable and the Board WILL be held accountable. Wild West is long over.
Management shortcomings, strong science, exceptionally bullish analysts
Management shortcomings, strong science, exceptionally bullish analysts
Just some opinions. Not an investment advice:
Karyopharm (KPTI) will be releasing data on a game changing trial for myelofibrosis (bone marrow blood cancer). I expect the data to be very positive, and Slinexor to be approved as the first all-oral combination therapy for this nasty disease.The market potential is huge. KPTI stock has dived 97% under Richard Paulson's mismanagement (and the useless Board), and some of us have been quite active in shedding light on the issue, and this effort will culminate in a derivative action against the Board, on behalf of the company, which based on our research will succeed and it will be very bad for the Board members, and could end their career of easy money of getting paid big bucks for doing nothing to create value, as has been the case in their "directing" KPTI down the drain. But first we want to make sure they have plenty of warning, and give them a chance to act, and it's not a case of "we didn't know". We have a solid case with clear evidence, including insider testimony, that corroborate the allegation of gross breach of fiduciary duties by the Board and the CEO.
Despite management shortcomings, I am very optimistic about the science. Analysts agree. Here are four recent ratings within the last few days by HC, RBC, BARCLAYS, PIPER.
HC Wainwright & Co. Reiterates Buy on Karyopharm Therapeutics, Maintains $7 Price Target (10x current price).
Barclays reiterated a Buy rating on Karyopharm Therapeutics with a price target of $5.00 (7x current price).
Piper Sandler maintained a Buy rating on Karyopharm Therapeutics and set a price target of $5.00 (7x current price).
RBC Capital maintained a Buy rating on Karyopharm Therapeutics and set a price target of $3.00 (4x current price).
It's not often that four analysts from credible equity research organizations issue price targets for a company that predict 400% to 1000% return.
4 March 2025 - LETTER TO THE BOARD
4 March 2025 - LETTER TO THE BOARD
LETTER TO KPTI BOARD: Urgent Wake Up Call: Your Urgent Action Is Required (At Least For Your Own Sake)
MR. GREENE, MR. STRONG: FOR EACH AND EVERY BOARD MEMBER OF KARYOPHARM WHO WILL BE HELD LIABLE AND ACCOUNTABLE FOR RICHARD PAULSON'S PREPOSTEROUS DESTRUCTION OF OUR ASSETS UNLESS HE'S FIRED.
The way you all have failed your fiduciary duties should disqualify you from any future Board roles. It's not conceivable that you all would be so morally deficient and professionally reckless to want to risk your careers in return for our money which you've undeservedly been paying yourselves while doing absolutely nothing of value, and by breach of your duties, having at a minimum implicitly endorsed Richard Paulson and his gang's at best incompetent and at worse vicious and compromised destruction of stockholder assets.
The case against you is a think dossier, legally, and morally. You've forgotten your mandate (run a business, drive bottom line, create value for the corporation) and forgotten the concept of justice, karma, and that you can't walk away clean after destroying over a billion dollars in value, which can be so strongly attributed to your failure of duties. Richard Paulson is your problem. It's almost kpti in te but you still have a chance to save your directorship careers, and start doing something of value for the vast amounts we have paid you. And it must start with acknowledging what-is: a CEO who has proven to be a failure beyond doubt in creating value, and it's impossible for such a horrific CEO to turn around this ship.
If you are compromised and want to turn the company over to the hedge funds who have Richard Paulson, Mike Mano, and you all by your sensitive parts, then you will face the harshest legal justice. If you have just been lazy, passive, then face the consequences of your doing nothing to help Karyopharm: the current state of near destruction. How could you not have the experience and wisdom to understand the risks you've subjected the corporation to by your assumed passivity (if the destruction was not intentional for wicked purposes)? You have paralyzed the stock by enabling Richard Paulson to paralyze the stock by burning through hundreds of millions, splurging a ton of money over unnecessary things, total lack of financial discipline for the longest time, even dare giving away 6 figure donations which makes any Harvard Business School student think he has brain damage or something!
How could you dare give away 6-figure donations when you have a problem staying listed, not having enough money to finish trials, having paralyzed the stock by dilutions, and toxic financing which in a few quarters costs more than your entire market cap - in interest alone. THAT IS RICHARD PAULSON'S LEGACY. AND ANY ETHICAL, PROFESSIONAL BOARD WOULD FIRE HIM WITHOUT HESITATION, but for you, it's being asleep on the wheel as usual, waiting for your next pay check for doing nothing of value. This will not bode well for you. Act. Move. Fire Richard Paulson now and cut the fat. You can at least get rid of 30% of the workforce without putting a dent in the operation, and STOP the wasteful aspects of the culture. Start the cuts with Paulson, Mike Mano and Lisa DiPaolo.
A 40-million-dollar market cap company (down from over a billion) doesn't need to internal senior lawyers. Firing Mano will save us over half a million a year. Paulson is overhead and a liability and a curse for the corporation. Firing him is a must. Unless you're in on this destruction if you're compromised, or -- if you like to continue napping on the wheel, it won't bode well for you. Be warned. Wake up and get your act together before it's too late.
We warned you that if you do a reverse split without new leadership you will fail. Down over 30% already post RSS. We told you so. Read the above message one more time. It contains critical hints.
Your Lack of Financial Discipline, Accountability, Urgency Has Destroyed Over A Billion Dollars In Corporate Value and Your WILL Be Held Accountable.
You need to fire Richard Paulson, Mike Mano, Lisa DiPaolo immediately. Sohanya or Brendan could act as interim CEO for example. Paulson is not doing anything of value anyway, never did. Numbers don't lie. And he's admitted to spending large chunks of his time socializing with other CEOs because in his strange mind, he's running a charity, entitled to endless investor funds. That's how off that chap is.
Bring a turnaround CEO, or anyone with basic business sense who has the ethics to put his professional mandate ahead of self interest, and has the competence and courage to go after a rotten status quo and cut the fact. This will immediately work to repair the huge damage you've done to the company's reputation and start attracting investors. Nobody in their right mind would want to put their money on Richard Paulson given all that we know about his track record at Karyopharm. Without demand for shares value cannot be created (Business-101).
Paulson/Mano/Mason/Greene/Board's head in the sand approach totally ignored short sellers because the KPTI "3 stooges" were too busy feeding their faces with daily catered free lunches, attending events, socializing, working from anywhere, work-fit-for-life, being on vacation double the rate of most US companies, endless benefits, and living it up in the KaryoFUN vacation club -- and are too coward and incompetent to address the topic of short position and its impacts (artificial supply, short&distort), etc.
You totally ignored this topic which turned around and paralyzed the stock. And the runaway cost structure and irresponsible spending and wasteful culture which to this day is a curse for the stock and a gift to short sellers. There are many more examples of catastrophic mismanagement by Richard Paulson. And you're responsible for that. Firing him is your best option. Hear it from a wealth of experience.
More here: https://x.com/karyowatch
3 March 2025 LETTER TO THE BOARD
3 March 2025 LETTER TO THE BOARD
URGENT WARNING: Lack of Financial Discipline, Accountability, Urgency. For over 3 years Karyopharm Board has ignored our predictions which all have become true.
Medical doctor/investor best depicts what you are: "Lack of Financial Discipline, Accountability, Urgency."
MR. GREENE, MR. STRONG: FOR EACH AND EVERY BOARD MEMBER OF KARYOPHARM WHO WILL BE HELD LIABLE AND ACCOUNTABLE FOR RICHARD PAULSON'S PREPOSTEROUS DESTRUCTION OF OUR ASSETS UNLESS HE'S FIRED.
You can never argue that you didn't know. There's no excuse for your breach of your duties. You've been warned time and again, including with specific recommendations which have all been ignored, and every time your passive endorsement of Richard Paulson and his horribly ineffective team of Mike Mason and Mike Mano managed to kill the company value with their head-in-the-sand, lazy, ignorant, incompetent approach to value creation which led to value destruction.
Before reverse split we warned you because we have apparently far more experience than your complacent, privileged, entitled "get paid and do nothing of value for it" position, in dealing with the investment community and factors such as short sellers which your incompetent team has wholly ignored for years as though they don't exist, while on the other side entities who are far more competent than you have devised a path to screw the company (current shareholders) and have succeeded brilliantly at it as your baffled, lazy, ineffective, incompetent CEO continued to splurge corporate assets like there's no tomorrow.
You, the Board, headed by the worst Chairman in biotech history Richard Greene, have continued your passive, do-nothing blatant value destruction by keeping the horrific CEO with a horrific track record of value destruction on the job.
We know you like your salary and doing nothing of value for it - and you don't give a damn about your mandate to shareholders as long as you continue to get your undeserved pay - but remember that Wild West is long gone and you WILL be held accountable. We have held back on filing against you which based on feedback we've received is a strong case which could bring an end to your directorship career. No other Board would want to hire Directors who've been found guilty of breaching their duties. And that will be the end of easy money do-nothing value destruction, or sheepishly following the status quo for those of you who like to sit in the back seat and just collect your pay -- which is just about all of you with driver Barry Greene heading your van down a cliff.
So wake up. It doesn't take much research to predict what happens after RSS which you don't fundamentally change the forces that killed your stock. The action is easy: Fire Paulson and Mano.
Here's what a medical doctor / investor wrote who knows a lot more than all of you combined about biotech investments:
"Believe in the science but MGMT and Board has let this thing DROP... Imo a lack of financial discipline, accountability, urgency"
Do you understand the gravity of that true statement? Meditate on that every morning and maybe after 3 days you begin to wake up and save your Directorship career (some of us investors have given up on you to have the professional ethics to act according to your mandate - so perhaps for self-preservation reasons you may decide to finally do something of value - and fire Paulson immediately. The house is on fire. There's no way in hell for a CEO who's destroyed over 90% of the corporation's value to turn it around. Have you ever heard of CEOs with turnaround experience? Paulson is the other end of the spectrum. He's the live-it-up, screw the shareholders kind. Turtles can't fly.
Paulson doesn't need to take KPTI back to 50 cents for you to know he's a misfit for KPTI. Just look at his resume. He's winging it here, as explained to you before but you were sleeping! You need a CEO who's not a slave of his own self-serving status quo and will take the knife and cut the many layers of fat of this fun vacations club starting with Mike Mano and Lisa DiPaolo , and starts giving importance to bottom line, and stops wasting assets, and starts fighting for us, instead of being a slave of passivity, always putting his comfort ahead of his mandate to drive value which he apparently forgot a long time ago.
Karyopharm culture is rotten to the core in terms of CEO's and your (lack of) comprehension of your mandate, in our view - where value creation and shareholders are not even on the priority list. And Paulson has many delusional excuses to justify his being incompetent in value creation: oh, MF data, sales, blah blah. If he cared about value, he wouldn't splurge like hell to kill the stock, and then get us in toxic financing costing us over $10m a quarter in just interest!! He'd drive the bottom line at all times and not plan to do it after MF data.
If any of you went to business-school you'd grasp what a catastrophe your breach of duties have caused. And you don't need a GC. You already have a hotshot internal lawyer and firing Mano will only help the bottom line. Don't forget the mantra every morning that depicts your failure:
Lack of Financial Discipline, Accountability, Urgency
The Clock Is Ticking! When you get the summons and complaint it will be too late.
More here: https://x.com/karyowatch
Richard Paulson Resume Walk-through
Richard Paulson Resume Walk-through
Resumé walk-through: Richard Paulson is absolutely unfit as Karyopharm's CEO | The Board's liability for 10-figure damage to shareholders
Executive Summary: Resumé walk-through of Richard Paulson shows he's unfit to be Karyopharm's CEO, he's never been a CEO of an entire company before, never been accountable to investors and analysts, and lacks key experience, skills, competence, aptitude for the challenges KPTI faces in this hole he dug us into: destruction of over a billion dollars in shareholder value. The Board must act to replace him with an interim CEO immediately and stop the bleeding. The house is on fire. Every day Paulson being on the job takes Karyopharm one step closer to the grave, and the Board is responsible and liable for the gross breach of its duties.
Karyopharm's Board never expected such disastrous future for the company under miserable "leadership" of Richard Paulson when they made him into a CEO. Several seasoned investors with strong business background foresaw what the Board didn't, and warned Paulson and the Board - from the beginning and continuing - about risks ahead, and steps needed to be taken. Paulson and the Board categorically ignored all advise that included getting rid of Mike Mason and Mike Mano, both of whom turned out to be disasters who contributed to the decimation of KPTI - from double-digits, and $25 even when Paulson was Director down to struggling to stay above $0.60. Had the Board vetted Paulson properly, he should not have been hired as a CEO, and should have been fired once it quickly became evident that he's unfit for the role, with the resulting catastrophic destruction of company value on his watch, as insiders, and short-sellers got richer and richer.
Some bitter truths about Paulson's past: 1) At Karyopharm, his destruction of the company value is documented in hard, indisputable numbers. The stock has dropped over 98% since he's been at Karyopharm. All the disasters around his mismanagement are also well documented, including extreme wastage of corporate assets, etc. which we will not rehash here. 2) Prior to Karyopharm, Paulson was never a CEO of an entire company. At Ipsen he ran the North America arm of a primarily family owned business. 3) At Amgen he was a Vice President. Not even close to being a CEO. 4) At Pfizer, he mainly had country management roles in South Africa and Czech Republic. 5) At Glaxo he held sales and marketing roles.
Due to Paulson's Lack Of Competence, Skills, Experience, Aptitude, And His Dismal Track Record, Karyopharm Board Should Fire Him -- According to his LinkedIn profile, Richard Paulson has never been a CEO of an entire company, and has no professional experience in so many topics that Karyopharm is struggling with, including being directly accountable to investors. He's never had analyst facing roles and this could explain how he's made a fool of himself and the company by false promises, misleading projections, delays after delays, and incessant wastage of corporate assets which he has no conception of driving bottom line.
Paulson never had to deal with applying austerity measures, facing going concern risk, facing short sellers who are professionally trying to kill the company, facing delisting issues, facing toxic financiers who took him and his simpletons, Mike Mason and Mike Mano for a ride. He has no experience or conception of what Wall Street sharks can do, which they have done to Karyopharm, with implicit (or explicit) help from Paulson and the gang which can't shoot straight.
In none of the above roles he had the freedom to burn investor cash as he's had at KaryoFUN, thanks to the Board (Barry Greene, Mansoor Mirza, Chen Schor, Garen Bohlin, Deepa Pakianathan, Zhen Su, Christy Oliger)'s breach of its fiduciary duties and mandate to create value, which Paulson and the Board has conveniently forgotten as they collected huge amounts of money for themselves, at shareholder cost, and destroyed over a Billion Dollars in market cap. So, instead of creating value for shareholders, they destroyed shareholder wealth to create value for themselves, with big salaries and bonuses, and an apparently a very hands-off, passive Board. Paulson has never had such a freedom, and should have never had it, and the result has been catastrophic.
All the above (except Karyopharm) are financially strong companies. In none of these companies he had investment facing role. None of these were extreme turnaround situations from a dire state like Karyopharm is (because of Paulson's clueless mismanagement or being compromised). Therefore, Paulson is 100% unfit for the role, and the challenges that Karyopharm faces. If the Board does not fire him, that will be yet another breach of its duties to shareholders. The destruction of KPTI and hundreds of millions of cash and over a billion in market cap is squarely Richard Paulson and the Board's fault, and the Board will be held liable and accountable for this. The easiest solution is to fire Paulson which is what every prudent Board would do when it's so evident that you have the wrong person on the job, and the result of that cannot be clearer.
If you do a reverse split and hand Paulson an $8 stock, he will turn around and destroy it just as he's done last time the stock was in double-digits because he's incompetent in creating value. He has so many things wrong with his profile that the disastrous result is almost guaranteed. The house is on fire. The Board has done nothing of value for years. It's time it starts acting and start with replacing Paulson with an interim CEO immediately, and stop the bleeding immediately, and bring in a CEO who can take the knife and cut the mega fat that's woven into the fabric of this wasteful company and "culture" it's so proud of. A Harvard Business School Case can be written with a long list of Paulson's screw-ups, and in every case, the Board is responsible due to its duties it's paid to perform.
With a horribly weak and unfit profile for Karyopharm, as illustrated above, it would be a "crime" to keep Paulson on the job as the little last breaths, little life and blood left in the company's veins will be wasted before you know it. Again, there's a ton of evidence to support this, as documented in a massive lawsuit against the Board which will be filed if the Board continues supporting this disaster CEO. Being a weak CEO, he kept two very weak figures in key roles, CFO and General Counsel, and built an extremely "wasteful" culture. He is on record for saying he spends a significant amount of his time socializing with other CEOs. And he's continued to burn large sums of cash on himself with unnecessary expenses. And he's even given away large sums of cash because he is apparently confused in his head, thinking he's running a charity (and not a for-profit-company) which is entitled to endless funding from investors. Reality of such mismanagement has cost shareholders over a $1,000,000,000. Clock is ticking.
https://www.linkedin.com/in/richard-paulson-462536/details/experience/
1 March 2025 - LETTER TO THE BOARD
1 March 2025 - LETTER TO THE BOARD
7 Questions for Karyopharm's Board Members / Urgency of Firing Paulson to Save Karyopharm & Your Directorship Careers!
MR. GREENE, MR. STRONG: FOR EACH AND EVERY BOARD MEMBER OF KARYOPHARM WHO WILL BE HELD LIABLE AND ACCOUNTABLE FOR RICHARD PAULSON'S PREPOSTEROUS DESTRUCTION OF OUR ASSETS UNLESS HE'S FIRED.
Forward added: It is so obvious to so many shareholders that Richard Paulson is a curse for Karyopharm for so many reasons which are so clear to us, i.e., his own misconduct and mismanagement that has resulted in gross destruction of corporate assets and value. Many investors are extremely frustrated. These are reflected in what they say in public, and much more, privately (we have a large network of shareholders and they're pissed as hell at YOU Board members for failing your duties). We're doing institutional outreach and this avalanche is not going to stop, but you can stop it by firing Paulson urgently.
Some of the forums where the frustrations and accusations against the Board and Paulson are voiced so vulgarly (for very good reasons - you deserve everything that comes to you) that linking to them would potentially be unlawful, so we refrain. Here's one lawful angle of frustrations:
~~~~
ORIGINAL MESSAGE
Board members: you don't seem to realize the kind of risks this horrific CEO Richard Paulson has created for the company, and the resulting serious issues, and further risks we face.
Do you have a sense of risk mitigation, or you're too complacent and entitled and lack the ethics to work for what you're paid to do: create company value?
Are you so inexperienced to understand the existential risks Richard Paulson and Mike Mano, our of their incompetence in value creation - and your own breach of fiduciary duties - have created for the company?
Do you have the basic business and management knowledge to understand that leadership matters?
Do you have the basic common sense to understand that Richard Paulson can no longer be trusted, that his despicable track record of value creation cannot be ignored and excused?
Do you understand that merely hiring a CFO whom in reality has had a very thin experience as CFO cannot compensate for the mess Paulson/Mason/Mano have created? She has probably never wrestled with Wall Street crooks who run circles around Paulson, Mano, and this miserably ineffective, hands-off, irresponsible Board that just likes to get paid and do nothing that creates value?
Likewise, do you understand that Brendan Strong cannot compensate for this thick mess that Richard Paulson has created by years of irresponsible, incompetent leadership that has led to over 90% value destruction while insiders including yourselves have gotten richer and richer, and he's even given away 6-figure donations?!
Do you think you can just use and destroy people's assets and just get away with it? Walk away clean?! Life doesn't work like that. Think again.
Many investors have asked for a sense of urgency, but it seems that the reason Richard Paulson has no sense of urgency is that he is more interested in continuing his lucrative gig that gives him over $100,000 a month no matter what, than working according to the mandate he was hired for: to create value for the company. The need to fire Paulson is now ever more urgent. There's a serious crisis in confidence. So many investors are absolutely fed up with Paulson's lack of competence in creating value, the lazy, irresponsible, incompetent way he's run the KaryoFUN vacation club / charity (that pretends to be a business) which only benefits YOU the Board members including Paulson and your guard dog Mike Mano.
If you don't fire Paulson, the rotten, dysfunctional status quo and his despicable value destruction style of mismanagement will ruin the company. He seems to be relaxed as always, with no sense of urgency, and happier than ever for having a $8 stock in his hands (now in the 7's) which he can destroy further to sustain his lucrative income, while in reality, the stock is having a hard time holding 50 cents (pre RSS), down from double-digits on Paulson's watch.
YOU the Board members are responsible for this. And you will never be able to say you didn't know. You've routinely failed your fiduciary duties and have empowered and enabled Paulson to destroy shareholder assets and company value. This bodes terribly for you and your directorship careers. Perhaps it's time to wake up and have the ethics to feel a bit of responsibility instead of your passive, hands-off of giving carte blanche to Paulson to destroy while y'all get richer and richer while you continue to destroy company wealth.
If you have any hope that the man who destroyed KPTI value by over 90% is going to magically turn it around, think again. After destroying KPTI by over 90% he still gave away 6-figure donations apparently because his head is cluttered with twisted, delusional ideas that we are a charity and you're entitled to endless shareholder funds.
If you think Paulson can save KPTI from further destruction, or that magically data will compensate for Paulson's disastrous mismanagement, think again.
So many investors, including several medical doctors, have warned the company for years, but you don't care and have chosen a head in the sand approach instead. It's the easy way for Paulson and Mano who haven't the competence to drive value.
You have incompetently ignored a fundamental factors of value, i.e., supply and demand for shares, and the elephant in the room: the short sellers. Out of incompetence, Paulson and Mano have been totally oblivious to these facts, pretending they don't exist, just as Paulson has been oblivious about the financial mess he's created including the mess of toxic financing he got us into -- while, he's maintained a plush, splurging, wasteful "culture" where he's single-handedly the biggest beneficiaries.
If you don't recognize the truth in what is said here, you have not worked with effective CEOs, effective executives who can turn around extremely messed up situations. We have, and we know, Paulson ain't one of them. Firing Paulson is a must if you have the professional ethics to want to abide by the charter and mandate you were hired as directors. You will be held accountable.
Left on his own, Paulson will continue his value destruction path without a grain of concern, just as he has since the stock was in double digits before he destroys it down to the current 50 cent level. And Mike Mano by his side, failure is guaranteed. But YOU as Board members have the power to bring change, and save yourselves and your directorship careers, and save the company.
Justice is coming. Get your act together before it's too late, and that cannot be done without firing Richard Paulson. That's clear as day to so many of us investors. Neither Brendan Strong nor anyone can drum up investor demand which you urgently need, as long as that horrific CEO is at the helm.
The Clock Is Ticking! When you get the summons and complaint it will be too late.
A letter to Karyopharm's (KPTI) Board regarding one of many instances of gross mismanagement and wastage of corporate assets by CEO Richard Paulson, to the detriment of shareholders (and implicitly to the benefit of short sellers); and urgency of change of leadership.
A letter to Karyopharm's (KPTI) Board regarding one of many instances of gross mismanagement and wastage of corporate assets by CEO Richard Paulson, to the detriment of shareholders (and implicitly to the benefit of short sellers); and urgency of change of leadership.
Preface For Web Posting: This is just one of many examples of KPTI leadership breaching its duties and not acting in concert and alignment with company (shareholder) interests, out of negligence and incompetence, or perhaps, being compromised, given the degree of profit certain entities have derived from such misconduct as exemplified herein, e.g., giving away large sums of shareholder funds, and intent to give away large sums in secret so that shareholders do not find out how their assets are being wasted, and how they're being stiffed (98% drop in KPTI price). Again, this all may be due to negligence, poor judgement and incompetence, but it raises questions about their integrity and commitment to their mandate of creating shareholder value.
This one of several letters to the Board (a comprehensive demand letter is in progress) is temporarily shared here. As the status quo is highly profitable for the insiders, short sellers and rogue entities, this post may get attacked by shills / influencers, and defenders of a status quo which has destroyed a $25 stock down to $0.62 in the last 5 years since Richard Paulson has been with the company as Director (2020) and CEO (2021), to the benefit of every stakeholder except shareholders who have consistently footed the bill, and absorbed the cost and burden of other parties getting richer.
We just obtained solid evidence that Karyopharm donated $500,000 to just one charity (on top of other donations) and is about to make another $250,000 donation while booking millions in losses!!
We just obtained solid evidence that Karyopharm donated $500,000 to just one charity (on top of other donations) and is about to make another $250,000 donation while booking millions in losses!!
We just obtained solid evidence that Karyopharm donated $500,000 to just one charity (on top of other donations) and is about to make another $250,000 donation while booking millions in losses!
And Richard Paulson has the nerve to talk about cost savings! He thinks he's still working at Pfizer or Amgen, but even there they wouldn't let him splurge like this. The problem is much deeper, and the quickest solution is firing of Paulson since he has no sense for driving bottom line and value creation.
Now we have a much better understanding of how Richard Paulson destroyed KPTI. It strongly supports our hypothesis based on his troubling past behavior.
~~~
Imagine a business owner who is losing millions every month, yet donates hundreds of thousands to charity. What do you think of that business owner?
If that person was running a business for me I'd fire him immediately.
Karyopham is booking north of $100 million a year in revenue and is spending about double that because the CEO Richard Paulson has what I comically call chronic spending diarrhea.
Today we obtained evidence that he's donated $250k to just one charity last year, and the same in 2023, and is about to make the same this year but reportedly without it being in the public eye. That's $750,000,000 right there for a company that's booking millions in losses every month, and is paying millions in interest because the chronic spending led to surrendering to toxic financiers to get the gig going which is very profitable for Paulson and the Board -- and that's after diluting the hell out of the shares as he continued to destroy KPTI stock.
KPTI value has been destroyed 98% on Richard Paulson's watch, and he's been paid over $5,000,000 in the process.
Something is very rotten in this picture. Best case, is Paulson's incompetence in creating value which is measured in dollars - he's apparently forgotten that value creation is his first and foremost mandate. That's why every business is in business. Otherwise, he can go work for a charity.
Paulson thinks his mandate is to cure cancer and has run Karyopharm like a charity. There's a looong list of cases of mismanagement we've compiled with evidence. Competence and performance matter.
The case for firing the CEO is crystal clear.
The Board needs to act urgently to STOP Paulson from all spending, while they transition to an interim CEO. Alternative is for us to file a derivative action, and we have a very solid case, based on much evidence of alleged breach of fiduciary duties by the Board (Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger).
Any analyst covering the company should be mindful of Paulson's splurging despite the "cost cutting" mantra he repeats. He seems to live in another universe, or still thinks he's with Amgen of Pfizer, though those companies would never let him splurge like this.
It's a creepy case where the CEO's interest seems to be very disjointed from that of the shareholders. Or it may purely be a competence issue where the challenge is beyond his competence level. His resume is void of any similar experience. So he's winging it. And he's miserably bad at it, but the cost is always passed down to shareholders whose value he's destroyed by 98%.
The alternative is clear: fire him immediately - put the control in the hands of an interim CEO - probably Brendan Strong who's just been hired and is a Harvard MBA, or Sohanya Cheng who's a veteran business woman, and look for a turnaround CEO. But STOP Paulson now before he destroys our wealth even more, by giving it away, living it up, etc.
They recently took a trip from Boston to California to attend JPM where they weren't even presenting because he has debilitated the stock and JP Morgan doesn't think they're worthy of presenting. His excuse was chit chat with other CEOs. He sees a big part of his job as socialization! There is a whole book can be written about hop off and unfit this guy is as Karyopharm's CEO.
Paulson has no clue whatsoever about austerity measures which good CEOs use to get through the hard times. Therefore, he's run Karyopharm to the ground.
With his departure, the company can be put on the path of a BUSINESS instead of a charity, and attract investors and grow in value like a normal company and not lead by a guy like Paulson, who is destroying the company. What about the numbers are not clear to the board? Do you expect the guy who destroyed 98% of the stock value, and has consistently wasted corporate assets to suddenly create value?! Get real Barry Greene. You should know better.
After the stock dived 75%, Paulson ran an ad to hire someone to manage daily catered lunches for everybody (hundreds of employees). Don't get me started on the so-called culture which is absolutely dysfunctional for shareholders. It is the most wasteful culture ever. A book can be written about this nightmare. It can be a Harvard Business School Case Study on how not to be as a CEO.
The Board will be held accountable.
Serious, troubling evidence against Karyopharm Board and Richard Paulson which the Board may not be aware of
Serious, troubling evidence against Karyopharm Board and Richard Paulson which the Board may not be aware of
To: Karyopharm Board Members
KARYOPHARM DONATING $500,000 TO JUST ONE CHARITY, PLUS OTHER DONATIONS WHILE BLEEDING CASH
We have very troubling, concrete, credible evidence that Karyopharm, led by Richard Paulson, has donated at least $500,000 to just one charity within the last two years, plus a lot of other donations, while it has paralyzed the stock (drop of 98%), by negligent mismanagement, or intentionally, and has gotten the company caught in very expensive and risky toxic financing. In summary, the company has absolutely NOT been in a position to make ANY donations, if it were run by a competent CEO who understands he is running a FOR-PROFIT. Read on. It gets much worse...
KARYOPHARM SECRETLY GIVING AWAY $250,000 OF STOCKHOLDER ASSETS
Please note that we have very credible information (first-hand witness statement) that Karyopharm, led by Richard Paulson, intends to donate $250,000 to a single charity -- on top of all the other charity donations it makes because Paulson doesn't recognize that we're a FOR PROFIT business - or he's compromised (read below) -- but unlike the previous years, Karyopharm reportedly does NOT want to be recognized and get publicity which most corporate donors of large sums like to get (the charity provides many publicity perks to large donors), but Karyopharm has decided that in 2025 it wants to donate 250,000 without the publicity (in a year where it's getting a Going Concern, has issued a default risk notice, and is bleeding cash as usual). Any Harvard MBA student reading this case will scream of how ridiculously unfit the CEO is.
We have received a full list of these perks that Karyopharm received the last two years, which of course didn't increase company value by a penny, so the entire donation was a waste of money for shareholders, and even $500,000that it donated is $500,000 straight out of the bottom line and earnings per share which directly impacts company value.
RICHARD PAULSON HAS BEEN SHOOTING THE COMPANY AND THE SHAREHOLDERS IN THE BACK
So Richard Paulson is shooting shareholders in the back by donating their money like this, while much bigger and more profitable companies donate a lot less (even to the same charity) or don't donate at all, until they're profitable.
There's something very strange, just in the fact that the company is even dishing out money while it is bleeding cash, and speaks volumes about the unfitness and incompetence of the CEO, and serious breach of duties by the Board.
SECRETLY GIVING AWAY SHAREHOLDER ASSETS TO THE DETRIMENT OF SHAREHOLDERS RAISES SERIOUS LEGAL AND ETHICAL QUESTIONS
Remember, you are obliged by Delaware law, to abide by your fiduciary duties, and you're required by other statute where applicable to each shareholder's interests and damage suffered as result of your breach of duties.
As stated above, we were told by a very credible source with direct knowledge, that for 2025, Karyopharm intends to donate $250,000 as well, but in a way that does not attract any publicity. This is extremely fishy and raises a lot of questions to say the least -- and the Board should absolutely investigate this, and suspend Richard Paulson from any access to funds and spending during the investigation.
One of the very thoughtful people our team had the immediate reaction that such an action raises a troubling and serious question of whether you (the Board if you're aware of this) -- or Richard Paulson and parties involved in this egregious act of donating such a large sum while bleeding cash, to begin with, and even worse, trying to hide it from public -- whether you and/or Paulson are trying to destroy the company and put it in the hands of parties other than shareholders.
SERIOUS CONFLICT OF INTEREST OR INCOMPETENCE
The evidence that we have obtained could potentially indicate a serious conflict of interest with Richard Paulson and perhaps the Board if you have endorsed this -- or at a minimum, serious shortcoming in judgement, failure of duties, and incompetence and unfitness to serve the shareholders who have hired you to create value for them.
RICHARD PAULSON'S CONFUSION ABOUT HIS MANDATE
Apparently, at a minimum, Richard Paulson has his priorities mixed up, and is confused about his mandate. He keeps repeating that his mandate is to cure cancer. His primary mandate, as is the case for every person who runs a FOR-PROFIT organization is to create value, make revenue, control expenses, improve earnings per share, grow the business. Without money, you cannot cure cancer. And you're already engaged in trying to cure cancer and are paid to do so.
Richard's idea of you giving away large sums of our money - while booking a huge loss - to others who are trying to cure cancer, shows a significant, huge defect in his thinking and attitude about his role, mandate, charter, reason he was hired - and it is the duty of the Board to set this straight.
THE REMEDY IS CLEAR
When you're dealing with such a rotten status of anything, the easiest solution is to get rid of it instead of trying to change or solve it. In the case of people, most people do not change - it's a risky bet to think we can change people. Therefore, firing Richard Paulson is the best solution - or at least demoting him as an outside consultant, and tap into him if you think he has something good to offer. As is, he's on record for claiming he spends a significant amount of his time socializing with other CEOs (on our tab, while getting paid $1.2mm ++ per year) and having killed KPTI by his incompetence or if he's compromised.
After KPTI has been destroyed by 98% due to incompetence or corruption (see below), the current shareholders deserve to see the stock appreciate to its fair value, but that is absolutely impossible under Richard Paulson, as illustrated by just one of many examples, in this letter. You have plenty of scientific heavy weights on the payroll. Paulson is not adding any value scientifically. As a business manager he's been an utter disaster. Any business manager with a clear mandate and commitment to that mandate can come in, clean up the wasteful culture, apply some serious and urgently needed austerity measures (such as travel freeze, salary freeze, etc. which serious CEOs apply but they're a foreign concept to Paulson who's too used to burning and wasting other people's money).
A new CEO will give the level of confidence investors need. And the stock will significantly appreciate. We want you to run Karyopharm as a business, run by a serious business leader, and Paulson has proven to be a failure and a bad fit for the challenges Karyopharm faces.
RICHARD PAULSON SHOULD NOT BE TRUSTED WITH THE REVERSE SPLIT AND THE FUTURE OF THE COMPANY
It would be utmost irresponsible for the Board to give Richard the green light to do a reverse split, because whether it's incompetence or corruption, judged by his past performance, he will cause the stock to be shorted back down significantly post RSS. He's already caused a stock to drop from double-digits to 0.62 cents. He can for sure do it again.
And that's probably why shorts have been upping the ante and the stock is almost at its all time low. And the parties on the other side run circles around Richard Paulson and Mike Mano and the passive Board without you even knowing it. Of course, if Richard is compromised and is trying to destroy the current shares, he'd know it. It's a shame to even speculate this, but it's your own behavior that gives rises to such speculation, e.g. as stated about with a specific example.
HUGE RISKS IN PAULSON'S THESIS WHICH CAN BECOME SERIOUS ISSUES
Paulson's thesis is a simplistic, and perhaps intentionally deceptive thesis that he should be given more time. Almost 4 years, $5million for him, and 98% drop in KPTI is not enough. He wants more time. To do a RSS, and to then raise money, and gets the company through data readouts which will supposedly save the day. His thesis is full of risks that the company should NOT take - first and foremost being Paulson himself. He cannot or does not want to foresee those risks, just as he totally ignored the many risks that we saw 3.5 years ago, and pointed out to him, again and again, by various investors, and you and him totally ignored those calls, and in every case, our prediction of the outcome came true, and that's exactly why the stock is $0.62 cents are the shorts are drooling over a reverse split so they can kill the stock even more, on Paulson's watch. They love Paulson, Mano, and the Board.
Almost every successful reverse split in biotech history has been combined with fundamental change in causes that got the stock to drop - in this case: Richard Paulson's horrific mismanagement, running the company like a vacation club, a charity, wasting huge amounts of assets (one example stated above), being totally ignorant of driving bottom line and creating value, putting some very weak people in key roles, total lack of foresight, repeatedly over-promising and under-delivering, and repeatedly acting contrary to shareholder interest (e.g. the case above). Every sensible shareholder would rather see better earnings/share numbers than having their money given to charity, just because the CEO is incompetent or intentionally wants to run the company like a charity, which will naturally destroy a for-profit company.
There are other risks with Paulson's thesis which can become real issues for shareholders - as though seeing our stock drop 98% wasn't enough. It is the boards responsibility to address these risks, and work to the best interest of shareholders, who hired the board to create value. We did not hire you to run a non-profit organization to cure cancer. Paulson doesn't get this or doesn't want to get it because the status quo is to lucrative for him. No accountability. Blank check. Live it up on our tab. Even shamefully, give away our money after you've destroyed our stock by 98%.
AVAILABILITY OF EVIDENCE
We're of course happy to share the testimony / evidence we've obtained with you, should like to contact us by replying to this email, and we can arrange a call with a Board representative, Brendan Strong, Lori Macomber or an outside Counsel. We will not speak with Michael Mano or Richard Paulson because we do not trust parties who have destroyed 98% of KPTI. Our preference is to avoid litigation if at all possible if the Board starts abiding with its mandate, charter, fiduciary duties. As a reminder, the above, is just one of many instances where corporate assets are irresponsibly wasted - there are plenty of other cases as well for which we also have evidence.
Incompetent Cost Cutting
Incompetent Cost Cutting
I worked for many world-class companies and I've seen cost cutting and I know what real cost cutting is and what Richard Paulson and Mike Mason call cost cutting is a joke, superficial, two little too late which :
a) continues to allow the shorts to prosper (I'm not saying they're doing that intentionally but because they're such horrible management that's a natural consequence)
b) and the insiders are sucking the blood out of this company with the kind of salaries they're giving themselves
By the way, I'm not ruling out the possibility that some insider(s) are in bed with shorts. Management apologists are here to make sure shareholders don't revolt and don't rock the highly profitable boat for the insiders. A company that's run like a charity. Wake up shareholders.
Wasteful Culture Started by Michael Kaufman; Richard Paulson seized it to benefit from it
Wasteful Culture Started by Michael Kaufman; Richard Paulson seized it to benefit from it
Michael Kauffman thought Karyopharm is like Roche Foundation (whom I actually worked for at some point), with the difference that Roche has a ton of cash and is profitable, and Karyopharm is and was losing money when Michael set up the dysfunctional policy to give GRANTS !! Can you imagine, a company losing tens of millions of shareholder money every month, with insiders paying themselves a ton of money despite their horrific performance / destruction of shareholder value which Richard Paulson calls "growth... next stage of growth: blah blah - what are these guys smoking? Share price drops 90% (without a split) and he calls it growth !!! His bank account is growing for sure. Losing sooo much money because they have spending cancer, shop till you drop, born to shop, born to spend in case of Mason, Paulson. Despite all the loss they give GRANTS ! That shows why this company needs open heart surgery, and a new brain, a new CEO, new Board members to capitalize on the great science.
~~~
Great science. But $KPTI @Karyopharm has serious management issues. That's why the stock is so weak. Kauffman was a great Dr but horrible CEO. He never ran a successful co before kpti; built a wasteful culture, carried forward by weak Mike Mason, Mike Mano. Paulson sucks as CEO.
Messed With From Inside?
Messed With From Inside?
Karyopharm seems to be messed with from the inside, based on a dysfunctional paradigm - for shareholders to whom the Board is accountable (they forgot that a long time ago -- and Richard Paulson has also left that back in Canadian Rockies on his hike when the stock was $9.40 (pre-RS)!! That must change, and we will make it change, together, otherwise, these bozos will ruin the company and get richer and richer themselves.
Cash Is King - but not for Richard Paulson when it comes to our cash. He likes to spend it, and even give it away, in 6-figures!
Cash Is King - but not for Richard Paulson when it comes to our cash. He likes to spend it, and even give it away, in 6-figures!
You know the expression cash is king. The moronic management likes to "burn" cash. It's a cultural disease - the culture of the company is sick. It has spending cancer. It should have a ton more cash but a bunch of losers, incompetent in driving value, getting 60k+ and 100k a month like it's their private company and bottomless pit. Their stupid mismanagement has gotten us into this hole now. They screwed up positive readouts in the past and they will in future. Everything they touch they screw up. The science is great. That's why I'm here but management has to be kicked out (CEO, CFO at a minimum).
Paulson's "Optionality" and other BS Talk
Paulson's "Optionality" and other BS Talk
Some people get the job done. Some people like the dork CEO Richard Paulson twiddle their thumb, are busy but get no results, keep giving us delays and excuses, and give us "good optionality" and other such BS talk, and still get $100,000+ of shareholder money per month. Remember, results for a corporation means shareholder value. Paulson has destroyed shareholder value. Down 91.5% since he took office, with help from his loser CFO and baffled Legal Counsel, and useless Board which endorses these losers. And he's lost about half of institutional interest in the company by his gross mismanagement despite great science.
Your Were Hired To Create Value For The Corporation Richard, Barry, et al.
Your Were Hired To Create Value For The Corporation Richard, Barry, et al.
GET WITH IT, Karyopharm Board Members Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su.
Karyopharm Board, CEO, CFO apparently have no sense of what it means to run a Business. Richard keeps talking about his mandate to cure cancer. Y'all have forgotten an important detail: Your mandate first and foremost as a public company Board is to build a business. This is a FOR-PROFIT business and not a charity! Shareholders didn't invest in the company, and didn't entrust you with directing it, as a charity. Else, we'd give it to charity and don't expect material return. GET WITH IT!
I've given money to a lot of charities, but when I bought KPTI I thought I'm investing in a company where as customary, the Board fulfills its duties to make sure value is created for the company.
Richard Paulson keeps talking about "next stage of growth" while the stock has gone from double-digits to 70 cents!
MBA-101 lesson: Company value is measured in dollars and not number of 6-figure checks you give to charity ! GET WITH IT!
Double Vacation Time++ At The KaryoFUN Vacation Club
Double Vacation Time++ At The KaryoFUN Vacation Club
While most US companies give 2 weeks a year vacation for a new starter, KaryoFUN vacation club gives 4 weeks from the start, plus 4.5 day work week (get real: salaried employees counting hours?!), work from anywhere, paid time off at year end, time off for volunteering. This and so much more mismanagement contributed to the debilitating of the stock. And all at shareholder expense. Not to mention free daily catered lunches for everyone. And lots of unnecessary travel, especially by Paulson himself, and lots of events, outings, parties, celebrations – they even celebrate the National Pi day (mathematical concept)!! And Paulson has the nerve to talk about financial discipline.
Insight Into Richard Paulson, Barry Greene, et al.'s Mindset
Insight Into Richard Paulson, Barry Greene, et al.'s Mindset
The sad part about is that Richard Paulson and the useless Board don't seem to grasp that employee benefits are fine but they fit within the big picture of the corporate mandate. Happier employees better contribute to success. At Karyopharm the only success has been for the insiders and patients at shareholder cost. And this clueless gang doesn't get it that shareholders did NOT DONATE their money to the company. They INVESTED it. It means they expect YOU the management who are hired by the shareholders to create value, to adhere to that mandate and DO NOT FORGET IT. But you have forgotten it, and that's part of the dysfunctional culture: always for insiders, never for shareholders.
For God's sake, Paulson has an MBA and surely understands the consequences of his actions, like living it up, and even giving away funds, would hurt the runway to data. Unless he's crazy or compromised or corrupt and is doing this value destruction and incessant delays intentionally. I would guess it's more likely incompetence, shortage of intelligence, arrogance, self-fooling, delusions, lack of accountability, and having embrace a dysfunctional culture that fosters this kind of behavior of "shareholders last", "screw the shareholders", "shareholders don't matter", "I'm getting my millions anyway, who cares". And subsequent fooling yourself, since you've been a total failure, that oh, instead of creating value which is what I was hired to do and failed at it because I couldn't control my splurging, I couldn't get myself to bring a strong CFO and General Council, I'm too weak as a CEO in distressed situations - where I have no prior experience in, etc. -- then, I switch my mandate to: "my goal is to cure cancer" which then helps you rationalize your preposterous giving away large sums of our money.
Four analysts issue very bullish price targets for KPTI. How reliable is their analysis?
Four analysts issue very bullish price targets for KPTI. How reliable is their analysis?
15 January 2025
HC, RBC, BARCLAYS, PIPER issue very optimistic price targets. Are they just trying to kiss up to the company so they participate in the next financing? How reliable are their analysis / valuation models? Have any of you seen any of their reports? I guess it would take a lot for all four to be issuing BS analysis to support a valuation / PT that is not realistic, just to kiss up.
HC Wainwright & Co. Reiterates Buy on Karyopharm Therapeutics, Maintains $7 Price Target
In a report released yesterday, Peter Lawson from Barclays reiterated a Buy rating on Karyopharm Therapeutics (KPTI – Research Report), with a price target of $5.00. The company’s shares closed yesterday at $0.67.
Piper Sandler analyst Christopher Raymond maintained a Buy rating on Karyopharm Therapeutics (KPTI – Research Report) today and set a price target of $5.00. The company’s shares closed yesterday at $0.67.
RBC Capital analyst Brian Abrahams maintained a Buy rating on Karyopharm Therapeutics (KPTI – Research Report) on January 7 and set a price target of $3.00. The company’s shares closed last Wednesday at $0.72.
INSTITUTIONAL OWNERSHIP
INSTITUTIONAL OWNERSHIP
When Richard Paulson took over as CEO institutional interest in KPTI was almost 90%
A screen-print on file from 22 April 2021 indicates an institutional ownership percentage of 88.56% before Richard Paulson took over and started destroying and gutting out the company’s assets, value, reputation, investor demand.
File: “KPTI Institutional Owners and 13F Filers (Karyopharm Therapeutics).html”
Institutional interest has halved since then to the current level of 48% (a drop of 46%) with some of the top holders consisting of hedge funds who may also be short the stock.
https://www.nasdaq.com/market-activity/stocks/kpti/institutional-holdings
Karyopharm Therapeutics Inc. Common Stock (KPTI) Short Interest After Reverse Split- as of 14 April 2025
Karyopharm Therapeutics Inc. Common Stock (KPTI) Short Interest After Reverse Split- as of 14 April 2025
Karyopharm Therapeutics Inc. Common Stock (KPTI) Short Interest Before Reverse Split
Karyopharm Therapeutics Inc. Common Stock (KPTI) Short Interest Before Reverse Split
Kilimanjaro!!
Kilimanjaro!!
Kilimanjaro. That's Richard Paulson and Mike Mason's idea of cost saving: burn baby burn the cash of shareholders. Also notice how 3 years in a row as company value decimated, Karyopharm was named as the best of best in benefits for insiders, funded by us.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://filecache.investorroom.com/mr5ir_karyopharm/379/download/ESG_Summary2023.pdf
https://filecache.investorroom.com/mr5ir_karyopharm/379/download/ESG_Summary2023.pdf
An investor wrote today: "Being there for Siendo - they claimed it was all MK and SS but this team has shown that they are not only incompetent but can’t follow simple directions- a tremendous disservice to the entire EC and gyn ONC community. This entire c suite should never be allowed in this industry."
Richard Paulson #believeintheextraordinary
Richard Paulson #believeintheextraordinary
Corrupt or Incompetent? With less than a year of cash left because of KaryoFUN’s Chronic Spending Diarrhea, instead of saving money he flies to California with a bunch of people to attend JPM where he’s not even presenting because he’s debilitated KPTI and JPM doesn’t count him as presentation-worthy. His excuse is socialization, which doesn’t add any value and hurts the bottom line, just as he’s destroyed 97% of KPTI’s value, having been paid almost $5m of our money, and he’s still splurging like a drunken sailor, while shorts have profited hundreds of millions, still keeping 20m short position, have the company under their thumbs, while Creepy Paulson and Baffled Mike Mano and the incompetent or corrupt Board led by Richard Greene, have their heads in the sand, ignoring the sharks around, and even going in bed with them, at our cost and are doing the same things that led to 97% destruction of share price. The Board ignorantly or corruptly is letting Richard Paulson continue the same path. The guy has NO IDEA how to turn KPTI around. He’s never done it in his career. He’s never sailed rough waters. The ship is broken, and Barry Greene and the rest of the Board WILL be held accountable for this nightmare. Our team of veteran biotech investors are very clear that firing Richard Paulson is an absolute must (or keep him on a minimum pay for few hours of consulting if you think he’s so hot). The house is on fire, and you can no longer have Creepy Paulson, whether he’s incompetent or corrupt, run the show. Investors don’t trust the guy. Numbers don’t lie.
Firing Richard Paulson will attract investors, make the shorts panic and the stock to take off. Unlike Barry Greene and the rest of the useless, incompetent or corrupt Karyopharm Board, most investors can tell when a lousy CEO destroys a stock by 97%, and understand competence matters. Paulson has proven he's inept in driving value or corrupt.
This visual is not suggesting Paulson of being a thief. This is only a satire to go along the painful fact that the stock has tanked while his cumulative compensation has skyrocketed. People on social media have actually accused the management of various things but I have not except what I know for sure via evidence, e.g., piss poor performance. Numbers don't lie.
KPTI’S Three Stooges
KPTI’S Three Stooges
Richard Paulson, Mike Mano, Mike Mason killed KPTI. We warned the company almost 4 years ago. A billion dollar in market cap later, and millions more for these bozos, now it's time to fire Richard Paulson and end his despicable destruction of KPTI value. That's the biggest catalyst for the stock.
Without that, giving Paulson a reverse split stock = further destruction, further winning for short sellers. Firing Paulson = turning Karyopharm into a serious business with a bottom-line driver leader who is not spending much of his time chit chatting with other CEOs, wasting assets on himself and insiders, making bad deals, bad business decisions, destroying the stock.
Firing Paulson is especially important given the serious state of risks he's put the company in, with no wiggle room, with vultures standing by, like in the case of Bluebird where he is a Director (not for much longer) - with hedge funds winning, putting the company in competent hands, shareholders losing. Karyopharm needs to do that before it's too late: Now! Start by firing Paulson!
Mike "Arcade" Mason
Mike "Arcade" Mason
Mike "Arcade" Mason - former horrible CFO of Karyopharm who was instrumental in the KPTI value destruction. The stock dropped over 90% on his watch.
(perhaps this or another picture of him) Pictured below is CFO Mike Mason at a recent investor conference -- he seemed: totally dull, inattentive, jerky, doing other things, uninterested, insensitive to what's happening, etc., and not wearing formal business outfit.
Richard Paulson's Pathetic Performance: Strong inverse correlation of his pay, and company value.
Richard Paulson's Pathetic Performance: Strong inverse correlation of his pay, and company value.
Richard Paulson wants us to forget about his pathetic performance: 98% destruction of KPTI value, and give him more time and more millions. Short-sellers love that, and probably that's why they haven't covered and even increased their position, because they are confident, Richard Paulson will blow it as he has done for 3.5 years.
Investors should vote in favor of the reverse split, and the board should get rid of Richard Paulson immediately and bring in a CEO who understands austerity measures and driving bottom-line and responsibility, accountability, credibility, confidence and trust. Otherwise the reverse split will fail and will just be utilized in the hands of the same incompetent CEO who got us into this hole, while getting richer himself and making us investors poorer, and he will, for sure, continues to splurge our money to spend significant amount of his time socializing with other CEOs, going on totally unnecessary plush trips on our tab, and doing other useless things which in his mind he is paid to do, and so on and on, which is a very troubling picture that screams of Paulson’s lack of necessary skill set, abilities, aptitude and attitude.
Without him, with a fundamental change from the very top, the reverse split can succeed, and the company can become multi billion dollars, for current shareholders, instead of for the vultures who are thriving because of Paulson’s incompetence. This picture speaks a 1000 words:
Don't Count On Paulson
Don't Count On Paulson
The opportunity and upside for KPTI is tremendous but Richard Paulson doesn't have it in his DNA to seize it. There's much more to running a distressed business which was pushed into a hole by mismanagement than just relying on good data to save the day while you still have chumps like Mike Mano and incompetent (or less likely, compromised) guys like Richard Paulson as CEO.
Richard Paulson is a disgrace to KPTI shareholders.
Richard Paulson is a disgrace to KPTI shareholders.
Richard Paulson is a disgrace to KPTI shareholders. The stock should be $10 today if it weren't for that horrible CEO who doesn't have the competence to create value for Karyopharm. He's never been a CEO of an entire company before this job. So even hiring him was a big failure on the part of the Board. They've given him the green light to do whatever he wants and he lived it up on our money getting over a million dollar richer per year, running the company like a vacation club, daily catered free lunches for everyone, splurging like there's no tomorrow, Worthless plush business trips for himself that added no value, endless perks for himself and insiders, and he even gave away our money. He donated $500,000 to just one charity using our money and this year as the stock is in danger of total destruction he plans to give away another $250,000 of our money, as per the charity our investigation revealed. The only way to cure this rotten status quo is to fire his ass, which the Board should do, otherwise they'll be held accountable for their breach of duties, and it will end their directorship careers. They operating under the wrong paradigm that they're entitled to shareholder funds indefinitely, to burn it up, pay themselves a ton of money, and as the video said, when money runs out, when the stock gets debilitated, do reverse split and rinse and repeat. If the Board does reverse split before firing Paulson that would be a disaster because we know exactly what this horrible CEO will do. He's proven to be incompetent in creating value for Karyopharm - which is what he's paid to do but he forgot -- or he's compromised (certain entities have made a killing from this destruction of KPTI value). Either way, the Board is responsible and will be held liable and accountable.
URGENT NEED FOR NEW CEO
URGENT NEED FOR NEW CEO
Marketers know it's harder to obtain new customers than keep existing ones. Same with shareholders. When shareholders see the company burn through their cash like wild fire, without any sense of prudence, responsibility, austerity which is absolutely required to get through hard times - they lose trust in the CEO. Wall Street has a long strong memory. Paulson is marked as a reckless loser of value who has no reservation burning through millions of cash and just serving lip-service that he's saving costs.
Remember, after KPTI lost 75% of its value, Paulson ran an ad for someone to manage the "catered daily lunches for all employees", and still donated 6-figures to various charities, and still ran extremely unproductive resources in a very wasteful culture that's focused on benefiting insiders.
Accountability to shareholders, the mandate y'll were hired for: to create value is totally forgotten. The consequence is what we see today: scraping for votes to keep the company from going bankrupt, since Richard Paulson, Mike Mano, Mike Mason were too naive, careless, incompetent, weak, to enter a favorable contract with the toxic financiers. They seemed to be willing to sign anything to get their gigs (undeserved salaries and bonuses for their horrible performance) extended. And even when the ship hit the icebergs, their spending habit didn't change a bit. Still burned through shareholder funds like wildfire.
Paulson ignored calls from very experienced investors that include medical doctors, MBAs, PhDs, JDs to change course, to cut costs, to get rid of non-performing, weak people who are paid big bucks to maintain the status quo that's profitable for the Board. So Richard Greene and the Board are behind this mess. They've endorsed it. Now it's time they act and urgently bring change to this rotten situation, by firing Richard Paulson.
It's well known among investors that Paulson did the layoffs 18 months too late. He was explicitly advised by multiple parties to do layoffs 18 months before he did. But disrupting the vacation club was not in his agenda.
Paulson has no conception of "hard times" "austerity", because apparently in his career he's never had to deal with that. Wrong man for the job! And likewise, he has no idea how to turn this ship around. His plan is full of holes and is based on gross ignorance of key facts. You can't run a company like that.
It's clear as day to us, based on our experience, that a strong new CEO can take this bull by the horns, institute an urgently needed austerity measure, and turn the ship around. Paulson and Mano can't do it. In fact, we believe, they're almost guaranteed failures no matter what the data because the very forces they've been ignoring for years, who have the company under their thumbs, have bigger plans to make sure Karyopharm fails, and who better than Richard Paulson and Mike Mano in charge to help with that goal, ignorantly, incompetently, or intentionally? And the Board is responsible for the outcome. It's almost too late. Act now. The house is on fire. Replace the CEO.
Even a symbolic act will go a long way. As an interim, putting Branden Strong (Harvard MBA) in the CEO role will send a strong message that we mean business, instead of non-profit foundation, charity, vacation club which is a black hole for investor funds.
URGENT: FIRE RICHARD PAULSON
URGENT: FIRE RICHARD PAULSON
Mr. Greene, Mr. Strong, Ms. Macomber: Please forward this message to all Board Members. The Board and CEO will be held accountable for the destruction of company wealth and breach of its fiduciary duties, and should read the following 3 points:
1) KPTI Derivative lawsuit mentioned:
(article reprinted at the bottom of this message).
2) Updates on investor frustrations over Richard Paulson's continued path of value destruction:
3) Board members: The reputation of Richard Paulson as a horrific CEO is hurting our company and the share price. That's despite all his bloated confidence and la-la-land projections which are rooted in totally ignoring key facts, e.g. the short interest, and opposition politics of power (including from potential buyers of the companies for pennies on the dollar) which him and his extremely weak Legal Counsel Mike Mano, former disaster CFO Mike Mason, and yourselves, have chosen to totally ignore. Where have you been? Anyone in the biotech investing field knows at a minimum the company should pay attention to these factors which directly impact company value (revenue, demand for the drug, demand for shares, and provision of artificial supply). You just chose to ignore this. We have indication that Mike Mano did so out of incompetence or lack of courage. Paulson and yourselves have been beneficiaries of this disaster while shareholders who hired you to create value have been destroyed.
With that kind of track record, it's obvious to investors that Paulson cannot pull it off. His pipe dream idea of "MF data > Approval > Revenue" is totally out of touch with reality that you have no cash to spare - less than a year of cash which means a Going Concern soon and being forced to dilute which is what you want to do to stay afloat and continue to waste our money. There's not much juice you can extract from a 60 cent stock (or even post RSS).
The pros who run circles around you, Paulson, Mano know exactly how to play that game. They'll short the sugar out of the stock post RSS because the RSS is being done without correction of fundamental issues. Bringing a new accountant as a CFO with thin CFO experience - and a hotshot IR person (Mr. Strong) is not addressing the root cause, which is squarely the incompetent mismanagement of Richard Paulson -- who has destroyed value, continues to destroy value, every day, and has no experience sailing these kinds of waters, no experience with turnaround, very brief experience as investor-facing CEO, and a proven irresponsible CEO when it comes to living it up on shareholder funds -- with no sense or competence in driving bottom line of a distressed company.
His track record speaks for itself. A prudent CEO would instate austerity measures 3 years ago. You and Paulson were warned again and again. Turtles can't fly. Paulson has taken his tests, and failed across the board. You being duped to keep him in place -- or being a part of a conspiracy if it's the case, to destroy KPTI for current shareholders, are dreaming that he will turn it around.
He's had great data in the past, which he blew, because of ignoring so many factors, and having no sense of financial discipline. Still when he talks about cost savings, he still wants to take his plush trip + others, to California to burn thousands of dollars of our money on a totally useless conference where he's not good enough to present (JPM not interested in a 60 cent stock), but he still has to go. There's no party or event or charity donation that Paulson skips, at our cost.
He has no clue what austerity measure means. Much more on this at the right time - while you should all know the subject given all the money we're paying you. Disgrace is one word to sum it up. Imagine this picture: if you think Paulson adds value b/c of his knowledge (highly doubtful), it's surely not worth 1.2 million a year -- get rid of him -- or keep him as a consultant but at a reasonable rate, on as-needed basis (in 2 hours one can extract everything Paulson knows about a certain topic that you're paying him for 6 months of (non)work.
And get rid of Mano and save some 600k/year. You already have a hotshot, very competent internal lawyer - you don't need two of them when you're bleeding so much cash, and have paralyzed the company by the Paulson-Mason-Mano's horrible toxic deals the naively (or corruptly) entered.
Put in a no-nonsense, bottom-line driven CEO in charge. Branden probably could do a good job - unless he's already been sucked into the plush life at this "vacation club". You need an outsider to take the knife and cut the fat out. You need mass scale layoffs, a travel freeze, salary freeze, pay cut at top level at least temporarily, etc. -- things Paulson cannot dream of because he's the wrong man for the job.
That kind of approach, which many companies have successfully done, with great results, attracts investors. Until then, Paulson, Mano, yourselves will continue to be a toy of the toxic financiers and short sellers who are laughing their ass at Paulson's naive, incompetent projections that require miracles to happen. They're sitting waiting to tear up the guts of the company and feast on it, and you've bet your career and future on Paulson.
One investor with 200k+ shares voted no for Reverse Split just to punish you - to help the company go bankrupt - so that your undeserved, plush deal ends !! That's how sick the consequences of Paulson's mismanagement has become. He's been resembled to Bernie Madoff by someone -- which I disagree with -- I don't think he's a professional fraudster like Madoff -- and I wouldn't even repeat that but I am telling you because you are the Board and you should know what is said about your CEO. Reputation impacts demand for shares which impact company value.
You seriously need to consider this option. Think of it selfishly: it will save your careers and reputation because Paulson is fast-tracking a path of destruction of the company and has absolutely no idea, experience or competence to turn around this ship which he has sunk. Remove him as a CEO, and do so urgently. It's the best signal you can send prior to Reverse Split as well, and a new CEO (without Mano) can kick ass. You have the goods (great drug) - you're just missing the intelligence, awareness, courage, and competence which a new CEO can bring, and turn around this sunk ship.
If you don't believe me, it means you are very inexperienced in biotech investments and the rotten games that are played to destroy companies, and you've been a perfect (ignorant?) partner of shorts who have profited hundreds of millions. Firing Paulson will solve all these problems.
Richard Paulson, Barry Greene, et al. Are Responsible and Liable For Years of Value Destruction
Richard Paulson, Barry Greene, et al. Are Responsible and Liable For Years of Value Destruction
Years of splurging, wasting investor funds at KaryoFUN "vacation club" / charity that has forgotten it is a for-profit business;
years of value destruction by a weak Board, CEO, CFO, Legal Counsel, HR head who proved to be incompetent in creating value;
years of alienating investors and treating them like ATM machines with apparently no good faith intention to create value for them;
years of forgetting their mandate, charter, purpose for being paid big money (i.e., to create shareholder value);
years of mismanagement, including destroying the financial;
years of decimating and debilitating the stock: KPTI down 99%;
years of flipping investors and ignoring investor warnings and tips and predictions that came true which the inept directors/management didn't have the interest and wisdom to see;
years of giving away our money while booking millions in losses; years of total lack of financial discipline which consequently led to going in bed with toxic financiers and getting the company sunk in bad financial deals, heavy burden for investors including $11m/ quarter in just interest payments;
years of ignoring the serious risks of such mismanagement to get to the point of finally issuing a default warning which absolutely could have been avoided if it weren't for Richard Paulson, Mike Mano, Mike Mason, Lisa DiPaolo, Berry Greene etc.'s mismanagement and failure of key duties;
years of operating with no sense of accountability;
years of irresponsibly living it up on shareholder funds with no foresight or competence to see the consequences (e.g. cash will be needed to have runway to trial results).
There is so much evidence for the above. Irresponsible, incompetent, careless, breach of fiduciary duties -- or compromised, since this mismanagement has been very lucrative for some parties in a very very big way.
Even after the stock tanked more than 75% they continued wasting shareholder money on having a catering company bring lunch to the office for every employee, every day.
The wastage of assets and mismanagement has been so rampant that some investors suspected corruption -- since shorts have gains of $100's of millions and have not covered even at sub 40 cent level because they know how clueless and incompetent this gang are (with exception of superstars like Sohanya and Reshma, etc.).
Pharma who wanted to buy them for over a billion can now pocket them for spare change with help (intentional / corrupt, or unintentional / incompetent) help from this gang that can't shoot straight.
And Richard Paulson has the nerve to babble about "next stage of growth".
The Board needs to wake up and see that itself (including Paulson) is the problem - that no executive with the kind of record above can suddenly change, even with good data and a Harvard MBA IR guy who could even be the interim CEO and do a far better job than Paulson -- even a janitor with a basic business sense and sense of duty and ethics to shareholders could do a better job - since Paulson has never added any value for the millions we've paid him. He's only destroyed KPTI value. Numbers don't lie. Each and every Board member and executive directors involved in this asset destruction will be held accountable. The Wild West of investors losing while insiders getting richer and richer and deliver no value, is over.
Brendan Strong (Harvard MBA) as cover up for Richard Paulson’s lousy leadership and asset destruction
Brendan Strong (Harvard MBA) as cover up for Richard Paulson’s lousy leadership and asset destruction
Now they bring a hotshot IR guy whom they naively believe will suddenly get investors interested. Investors don't forget the above, and know how incompetent this Board and some key executives are in creating value for investors, which is what they were paid to do.
It takes more than Brendan Strong to turn around this ship which Paulson/Mano/Mason/Greene/Schor/Bohlin/ et al., have sunk in the mud.
They have delayed 2 out of 3 goals for MF
They have delayed 2 out of 3 goals for MF
They have delayed 2 out of 3 goals for MF:
Enrollment from 1H2025 to July 2025.
Top-line results of P3 SENTRY from 2H2025 to early 2026.
Interest expense for the Q12025 was $11m compared to $5.9m for 1Q2024 because of toxic financing Paulson, Greene, Mason, Mano and the rest of the gang that can't shoot straight got us locked in while they totally failed to adequately control costs, reduce the fat, and Paulson's spending appetite on himself and the KaryoFUN vacation club. He doesn't grasp that money doesn't grow on trees and when you continually alienate shareholder and don't deliver results because you're too busy spending their money, they don't trust you, and funds dry up, and since you're not capable of meaningfully cut the costs and the lousy, wasteful culture (including giving away 6-figure donations), you screw the company, screw the shareholders, screw the stock, make it drop 99% because you suck as a CEO and should be fired.
The company with a tiny market cap with no cash left beyond a few months is spending f’n 250 million in 2025 - 110 million more than its projected revenue! That says enough about how lousy this CEO and Board are and how dysfunctional the operating paradigm is. Unbelievable!
~~~
Richard Paulson's on the job training while getting paid millions plus plus, and screwing up big-time except for himself and the Board which also got paid millions.
Do Barry Greene & the Board have any competence in business basics, common sense, and ethics to grasp the havoc Paulson has wreaked, and act?
Do Barry Greene & the Board have any competence in business basics, common sense, and ethics to grasp the havoc Paulson has wreaked, and act?
FOR EACH AND EVERY BOARD MEMBER OF KARYOPHARM WHO WILL BE HELD LIABLE AND ACCOUNTABLE FOR RICHARD PAULSON'S PREPOSTEROUS DESTRUCTION OF OUR ASSETS
Paulson's KaryoFUN vacation club that pretends to be a business but run like a charity must be overhauled and Richard Paulson & Lisa DiPaolo can't do it because they *are* the problem with this lousy, dysfunctional, entitled, low-productivity "culture". Ya "best place to work" because work is secondary, a nicety, and for the incompetent lousy CEO Paulson, it's an end in itself to have happy employees - never mind their stock options are in the toilette - but they reprice those too. Instead of doing what good CEO's do: drive bottom line, and use perks to increase productivity so the goal is value for the company. At KaryoFUN the goal is reached when employees are happy, even if that means at the cost of destruction of assets by the way they're splurged on the employees with 4.5 work weeks, work-from-anywhere (and that includes the beach), work with your dog on your lap (that’s actually advertised by this moronic Paulson culture) double the vacation of most US companies, many excuses for paid leaves again in line with a charity culture, paid to volunteer, paid to train interns, give grants, donate 6-figures, tons of unnecessary travel (per insider admittance), splurge like hell.
Barry Greene this is your problem. Do you have the decency, ethics, competence to see the gravity of the situation when instead of extending runway your CEO Paulson gave multiple 6 figure donations (when the company had no spare cash, at risk of delisting and default) and photo opportunity with McDreamy, just as one example that sheds light into Paulson's irresponsible, twisted mismanagement? What is it going to take for you to fire Paulson? Do you really want to force us to drag your ass to court?! You shouldn't because that will be very costly for you and your career, regardless of any exculpatory clauses.
The clock is ticking. Justice is nearing and will hold you accountable for every penny of our money that you’ve destroyed by breach of duties. Quickest remedy is to fire this lousy CEO immediately. He’s neither an expert in science/medicine – nor an expert in business – and the opposite: he’s been a total failure for Karyopharm business and we have so much evidence that indeed the value destruction has been his fault = Board’s fault. A new CEO can turn this bull by the horns, do significant cost cutting, fat trimming, and getting rid of people like Mike Mano who's extremely weak and a total waste of money in our view. You already have Nancy Smith who's very competent and has a far more impressive profile and talent set than Mano. A company your size doesn't need and can't afford two legal counsels, but Paulson can't grasp these concepts because his brain is too engraved and congealed in the rotten, wasteful status quo which has been very profitable for himself, and he wants his gig extended at any price -- this is how he splurged the hell out of our money, then debilitated the stock by dilution, and then got us into so much toxic financing. Wake up Board members. Driving while asleep on the wheel leads to disaster.
The Clock Is Ticking! When you get the summons and complaint it will be too late.
Richard Paulson Adds No Value To Karyopharm And Seems To Have No Concept Of Austerity
Richard Paulson Adds No Value To Karyopharm And Seems To Have No Concept Of Austerity
It would be arithmetically correct to conclude that Richard Paulson has added no value to Karyopharm in his entire period of engagement, and to the contrary he has consistently destroyed value, and still maintained his and the company’s wasteful ways and bloated cost structure, and if splurging on themselves was not enough, he has also given away large sums of money that directly has a negative impact on the bottom line and earnings per share -- which is mind boggling for a CEO who is supposed to be creating value.
During his many business travels with when Dr. Reshma Rangwala, Richard Paulson adds very little value if any at all, and just wastes company’s money in unnecessary travel. In several instances, too, Reshma also does all the scientific heavy lifting and discussion about the pipeline, and Richard adds very little value. If he wanted to save money, he could have sent Reshma to the meeting – but no – he has to be there himself because he has to fly everywhere and get the air miles, paid meals and nice hotels because the ~$5 million we’ve paid him is not enough.
In one key opinion leader call for example, Reshma led the discussion and facilitated the event. At the end Richard came in to say “I am” and made remarks that added no value at all. She could have concluded the meeting perfectly well on her own.
We do not need to pay Paulson $1.2m++/year when he adds no value, and to the contrary, has destroyed so much value.
Richard Paulson Adds No Value To Karyopharm And Seems To Have No Concept Of Austerity
Richard Paulson Adds No Value To Karyopharm And Seems To Have No Concept Of Austerity
It would be arithmetically correct to conclude that Richard Paulson has added no value to Karyopharm in his entire period of engagement, and to the contrary he has consistently destroyed value, and still maintained his and the company’s wasteful ways and bloated cost structure, and if splurging on themselves was not enough, he has also given away large sums of money that directly has a negative impact on the bottom line and earnings per share -- which is mind boggling for a CEO who is supposed to be creating value.
During his many business travels with when Dr. Reshma Rangwala, Richard Paulson adds very little value if any at all, and just wastes company’s money in unnecessary travel. In several instances, too, Reshma also does all the scientific heavy lifting and discussion about the pipeline, and Richard adds very little value. If he wanted to save money, he could have sent Reshma to the meeting – but no – he has to be there himself because he has to fly everywhere and get the air miles, paid meals and nice hotels because the ~$5 million we’ve paid him is not enough.
In one key opinion leader call for example, Reshma led the discussion and facilitated the event. At the end Richard came in to say “I am” and made remarks that added no value at all. She could have concluded the meeting perfectly well on her own.
We do not need to pay Paulson $1.2m++/year when he adds no value, and to the contrary, has destroyed so much value.
Urgent Wake-up call before it's too late
Urgent Wake-up call before it's too late
Paulson still makes ~$5000 a day / Mano makes ~$3000+ a day / Greene and the useless, incompetent or compromised Board make a ton of money too no matter what. They seem to hate shareholders b/c they feel entitled to our funds to get richer and live a plush easy life and do some work on the side - look at the company's promotion of their frikin dysfunctional "vacation club" work culture: work with dog on lap, work from anywhere, 4.5 days a week, double vacation of large majority of US companies, multiple other ways of getting paid time off, endless perks, free catered daily lunches. This disaster CEO Richard Paulson has no sense of austerity - doesn't even know what it means to really save money for the goal he was hired for: drive company value, drive bottom line, drive demand for shares, think beyond the end of your nose -- for Paulson, Mano, et al. that seems impossible. Fat, comfortable, entitled, getting paid a ton for doing nothing of value - and hanging on to this rotten status quo like leaches. That's why they don't fire Paulson because the Board likes the status quo, and so on. They cover for each other, always at our cost.
Paulson's history with Karyopharm has been one of burning through hundreds of millions in cash, destroying over a billion in value, and living it up, on our dime - excuse me, millions. And never feeling a gram of shame for dishing out delays after delays which he likes because it extends his lucrative gig. Who else would pay a guy millions, who's neither a scientific expert nor a business expert (in reality he's a business disaster) with that kind of disaster track record of 98% destruction of company value -- and give him a cart blanche like Green et al. have given him by failing their duties, to burn through as much cash as he wants without any oversight from the Board? What a life.
The only issue is it's not their money and they were hired to make that money grow. Oops! That's why they hate accountability, and taking them to court may be our only resort to topple this rotten status quo, which will be devastating for the careers of each and every Board member: Richard Paulson, Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger.
The quick remedy -- unless they have an obligation to some hedge funds to kill the stock so other parties than current shareholders reap the reward of our investment -- is to fire Richard Paulson and bring a new CEO who understands something about business turnaround, austerity, overhauling a pathetically dysfunctional culture that is disjointed from the mandate of the Board. That's an urgently needed step to restore confidence among investors, and attract demand for shares. What's it going to take for you Board members to grasp that the stock that was in teens, and 20's even when Paulson was on board, is now under 50 cents!! Do you have the ethics to grasp the seriousness of Paulson's asset destruction and financial mismanagement? Do you have the wisdom to grasp that you should never count on people to change as most never do. Paulson will NOT change. Unfit, unqualified to run Karyopharm. He's never been in a similar situation. He's never in fact been a CEO of an entire company in his life, and always worked for financially strong companies - that's why he can't get his head around the fact that Karyopharm is not AMGEN or Pfizer.
And Paulson's got it made because big pharma became big because they were run as a business not a charity -- and they would never allow Paulson to burn through cash as he has at Karyopharm because YOU the Board members failed your duties. So, he operated in a delusion that he's at a big pharma with a ton of cash, and even fools himself by repeating "MM is profitable" which it is not because all his splurging and that wasteful corporate "culture" are fixed costs that he forgets to count.
So, he fools himself and he fools you but he can't fool investors. Over 50% of institutions bailed on you. And the remaining ones probably half are short as well, and toxic financiers that Mano Mason Paulson didn't have the guts, courage, competence, vision, business acumen to ask: "do you have a short position", before they sell us out to them. Mano admitted that.
KPTI can't even hold 50 cents and you Board members are still napping at the wheel, hoping that Paulson will change. Wake up or you'll have a hard awakening. Wild West is long gone. You should immediately fire Paulson -- can put Brendan, Sohanya, Reshma or one or two of them as a team, as interim CEO. And bring in someone who can take a knife and cut big layers of fat - including Lisa DiPaolo, Mike Mano, etc., and demand work-onsite, travel freeze, etc. The vacation club can use a lot of trimming and savings of millions a month, and not a pathetic few million in a year you're so proud of saving. And with Paulson gone, Wall Street will start taking you seriously. Demand leads to value: Business 101.
more here: https://x.com/karyowatch
The Clock Is Ticking! When you get the summons and complaint it will be too late.
Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger
Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger
Simple truth: Demand is a key factor in price (value). Demand requires trust in management. Paulson has betrayed investor trust in the most egregious way by demonstrating time and again his lack of competence and care and a total disconnect with his mandate to create value. The current 29 cent price reflects this fact. We warned you that if you do a reverse split without bringing fundamental change the price will go down. It's been halved in a matter of days. Paulson never ran an entire company as a CEO, never had investor facing roles, has no clue about Wall Street sharks and even worse, he's ignored them. Mano is worse than him, and Mason was worse than both of them. This trio destroyed a billion dollars in value, and you sat there doing nothing, maybe didn't even notice it, and just noticed your paychecks. You need to turn around this situation immediately by:
Firing Paulson immediately. Putting B. Strong or S. Cheng as an interim CEO and order them to do a brutal, massive cost cutting including things Paulson always hesitated to do because his priority has always been himself and splurging our cash. Travel freeze, salary freeze, purchasing freeze except the most essential, hiring freeze, and even an executive pay cut, or at least director pay cut, temporarily. These send a much-needed sign - a CPR for the company's reputation and the stock which Paulson has destroyed and with it trust and demand.
You should also stop all donations, and delete the Grants tab from your website which is a joke. A company in your situation doesn't give grants, but Paulson doesn't understand that. Also stop the internship program, and all charitable work, and all volunteering time off, and require staff to show up to work. And lay off Mano and DiPaolo. You already have a strong in-house lawyer - you don't need two when your stock is 29 cents.
And DiPaolo's vacation club needs to be revamped and she can't do it. There are already too many HR people - you're organizationally bloated in every place, so there's a lot of trimming to do. Paulson doesn't understand that either - he wants to leave the vacation club intact. There's millions to be saved just by removing layers of fat and making the existing team more productive if they can take a break from playing with their dog at home or on the beach while on company clock. Firing Mano and DiPaolo right there saves you over a million a year. Every penny counts. Paulson doesn't understand that, or he has a wicked agenda. It's no mystery that his aim has always been maximizing his own profit, and to elongate his lucrative gig. No other company on Earth would tolerate a CEO performing this bad, with so much hard evidence against him, and keep him employed...
This is a matter of survival. Paulson and Mano are too incompetent to understand what's happened to the company. Paulson still thinks the toxic deals Mason organized were really good. Blind leading blind. A weak gang that kept benefiting themselves, and you, and you left them alone to do what they want. That's a fact. The 29 cent stock says it all. Down 99% on most of your watches. The parties you ignore have you by the sensitive parts and you don't even know it. Ignorance is not bliss. The management you failed to oversee has operated with its head in the sand because it's too incompetent and coward and irresponsible to deal with bitter truth.
Paulson has no experience sailing through these turbulent storms, and he's got his sunglasses on the deck pretending it's sunny and clear. Meanwhile the sharks know exactly how to make this into a multi-billion-dollar company and couldn't dream of a better CEO and General Counsel who turns a blind eye to anything inconvenient, including doctors in pockets of hedge fund doing negative marketing, or short sellers who sat across the table with Mano who was too coward to ask them if they held a short position, or IP violations you turned a blind eye to.
Paulson wasting assets is one of the several things that will take you down if we go to court. You could never be able to justify it as valid business decision. This list is long and you know it all already but have chosen to ignore the bitter truth of the mess that YOU have caused. As a result, the house is on fire. Every day Paulson is there this fire goes on. Do the right thing, for once, for the sake of decency, morality, ethics, and all the millions we've paid the Board over the years to perform duties which you have consistently breached.
Paulson and Mano are too incompetent to understand the consequences of what they've done to the stock. The new CFO has almost no experience as a CFO in this class of organization. Brendan is top notch and could be very useful for you. He understands the depth of the problem, but is constrained by Paulson and Mano who are onto the same sugar they've done that's caused devastation of the share price. People rarely change. This advice comes from seasoned investors, medical doctors, MBAs, management consultants, PhDs and other thoughtful investors who all believe competence matters, and you need to do the right things starting with firing Paulson, or we will have to fight with you, and you don't want that. You take those steps and KPTI stock will take off because you've stopped the bleeding (Paulson) and have shown you are interested in running Karyopharm as a business not a confused charity.
Counting On Richard Paulson To Pull Off A Miracle?
Counting On Richard Paulson To Pull Off A Miracle?
If you look at Richard Paulson’s history with Karyopharm this creepy, incompetent or compromised CEO has never done anything that created value for the company (value is measured in dollars not safe harbor empty promises). He has always disappointed, dished out delay after delay with no shame or regret whatsoever.
Barry Green and the board may be in on this destruction of corporate value if they are compromised. They have endorsed it. We warned them specifically about the gang which can’t shoot straight: toxic combo of Richard Paulson, Mike Mano and Mike Mason, one weaker than another - and the board put out a release saying they stand behind them. This was when the stock was triple digits post RSS. Meanwhile the stock has been slaughtered by bad deals, dilution, missed opportunities, mismanagement, splurging / wasting assets, giving away assets, ignoring key value factors, delays, head-in-the sand incompetent approach, toxic financing, etc. – all to the detriment of shareholders, and meanwhile Barry Greene, Richard Paulson, Mike Mano et al. got richer and richer with no sense of accountability. But that will change, either voluntarily / painlessly, or painfully.
So, anybody who thinks that this CEO is going to suddenly transform into a value builder has to have their heads examined, and that means you Barry Green the rest of the gang who have rampaged our assets, got paid millions, and did nothing to create value - and they’re still at it.
Barry Greene and other board members: If you have any integrity, if you have the competence to recognize incompetence and horrifically bad performance, then you should fire Richard Paulson, otherwise, we’ll have to hold you accountable through litigation and force you to change your wicked value destruction. That’s the painful path for you and devastating for your directorship career. The clock is ticking.
Urgent: KPTI at 51 Cents Pre-RS (now 30 cents Pre-RS down from 25 Pre-RS)
Urgent: KPTI at 51 Cents Pre-RS (now 30 cents Pre-RS down from 25 Pre-RS)
KPTI is only $0.51 folks, pre-reverse-split. The stock urgently needs firing of Richard Paulson as a key catalyst. He has paralyzed the stock. He has made the short sellers, himself and the Board incredibly rich. Paulson’s interests have never been aligned with shareholders', it seems. No shame in burning our money, partying (free catered lunches to feed his face every day, unnecessary travel etc.), wasting, giving away six figure donations because this bozo can't even comprehend that we are not a multi-billion-dollar big pharma with deep pockets. The real deep-pocketed big pharmas donated far less than our incompetent or compromised CEO did, using our money. That's how the enemy of shareholders in our view, Richard Paulson, destroyed KPTI by 98%.
Don't forget the real culprits who are Barry Greene and the rest of the useless, do-nothing Board who have breached their mandate, duties by enabling Paulson's rampage of our money. Investors are not dumb, they see through Paulson's ugly beard. Fire Paulson’s ass and KPTI will go to the Moon.
Richard Paulson and Mike Mano Are The "Fat"
Richard Paulson and Mike Mano Are The "Fat"
The self-serving incompetent or compromised CEO Richard Paulson has no sense of urgency because the sucker is getting over $100,000 a month in undeserved pay no matter what happens and he has no reservation biting the hands that feed him. That money that he gets paid is paid by shareholders and he has never shown any discipline.
Let alone any sense of austerity in controlling costs in a meaningful way. He caught maybe 10% of the fat. I don't know. He caught a small percent of the fat compared to what could be cut because he's a beneficiary. He is the fat. He is the fat and Mike Mano is the fat. If they leave the company tomorrow nothing will happen. No, there would be no change for the worst.
KARYOPHARM BOARD SEEMS TO BE COUNTING ON A MIRACLE INSTEAD OF RUNNING THE COMPANY BASED ON SOUND BUSINESS DECISIONS
KARYOPHARM BOARD SEEMS TO BE COUNTING ON A MIRACLE INSTEAD OF RUNNING THE COMPANY BASED ON SOUND BUSINESS DECISIONS
Barry Greene, , Zhen Su, Mansoor Mirza, Deepa Pakianathan, Garen Bohlin, Chen Schor, Christy Oliger endorsed, empowered, and failed to oversee and monitor the rookie and apparently: self-serving, lazy, delusional, irresponsible CEO Richard Paulson who engaged in asset wastage, value destruction, to the point that KPTI dropped over 95%, company got caught in toxic financing, it had to do a reverse split, and the same lame, incompetent, perhaps compromised mismanagement is still at it. So, the ever unwise, inept BOD are now hanging their hats on a miracle to happen to save the day, which shows how incompetent they are because miracles rarely compensate for gross mismanagement and irresponsible splurging of shareholder funds to the detriment of the corporation and benefit of the BOD, CEO, and other insiders.
You need to assume that MF data will either be bad or it will be screwed with by the enemies of the company such as short sellers that the inept CEO has totally ignored. The short sellers absolutely love Paulson and his extremely weak General Counsel Mike Mano (and former lousy CFO Mike Mason) who made the shorts’ job incredibly easy, by mismanagement, getting us into bad deals, and empowering of our enemies because Mano is such a coward, and allowed for professional organized disparagement of the product based on outdated data to hurt the company, while Mano wrongly maintained his cowardly and incompetent “Can’t Do” attitude. Shorts love you Mikie.
And we’ve paid these chumps millions of dollars and plush perks. All because Barry Greene, Zhen Su, Mansoor Mirza, Deepa Pakianathan, Garen Bohlin, Chen Schor, Christy Oliger seem to not like to work to create value for what we’re paying them, sheepishly just let the months and years go by to collect the millions we’ve paid them, instead of having the integrity to pound on the table and say to hell with this horrible CEO. His track record at Karyopharm is undeniably terrible.
Assuming MF data will be derailed by the people who run circles around y’all: they already managed to postpone EC beyond your runway because Paulson was too incompetent and engaged in living it up, wasting assets, and socializing with other CEOs than to be proactive, than to feel a sense of urgency and prevent delays (also delays help his lucrative gig continue). And assuming Paulson will continue to be the same apparently lame weak incompetent irresponsible self-serving value destroyer he has been since day one, it means keeping him is asking for more trouble, disaster, as has been the case since day one. The stock has dropped over 95% on his watch, hello!!
A prudent BOD would fire such a CEO immediately, stop counting on miracles to save the company, slash the costs down to the bare necessary, overhaul the wasteful lazy unproductive entitled “culture” starting with firing Lisa DiPaolo and Mike Mano. You don’t need to win praise as the best place to work, you need to show revenue increase and significant cost decrease via an immediate and stringent set of austerity measures, and competent proactive management with a sense of accountability, responsibility, ethics to live by its mandate, sense of urgency, and running the company as a business not a charity. This is impossible without firing Paulson.
Richard Paulson's interest is not aligned with shareholders'.
Richard Paulson's interest is not aligned with shareholders'.
Richard Paulson's interest is not aligned with shareholders'. He seems to like delays (extension of his lucrative gig), so there's never any sense of urgency, and he shamelessly and blatantly announces one after another delay, and being the horrible CEO he is, and so irresponsible, he doesn't give a damn about planning to fund the company through data reads, though he serves us BS lies about cash projections that never materialize. But he is always ready to give away 6-figure donations, using our money, which come straight out of bottom line because he doesn't give a damn about creating value for shareholders. That's how it seems to many investors this sick governance has betrayed and destroyed their assets.
Investors: Fire Paulson Now
Investors: Fire Paulson Now
SOME VETERAN INVESTORS ARE APPALLED AT THE CONTINUED UNSUSTAINABLE COST STRUCTURE AT “KARYOFUN”. PAULSON’S VERSION OF “COST SAVINGS” HAS BEEN A DISASTER LIKE EVERYTHING ELSE HE’S TOUCHED AS HE DESTROYED OUR VALUE.
CHAIRMAN BARRY GREENE SHOULD RISE TO THE OCCASION, AND GET THE DO-NOTHING BOARD TO FIRE PAULSON AND MANO BEFORE REVERSE SPLIT, AND LET A COMPETENT CEO WHO HAS MANAGED DISTRESSED COMPANIES BEFORE, OR ANYONE WITH A BASIC SENSE OF BUSINESS AND COURAGE TO OVERHAUL A DYSFUNCTIONAL MONEY WASTER STATUS QUO, TO SAVE KARYOPHARM. OTHERWISE, PAULSON WILL MAKE THE COMPANY GO BANKRUPT, NO MATTER WHAT THE DATA – AND THE BOARD WILL BE LIABLE AND ACCOUNTABLE, FOR ETERNITY.
KPTI CEO Richard Paulson’s Apparently Twisted Mindset
KPTI CEO Richard Paulson’s Apparently Twisted Mindset
Never count on anyone changing. Lousy CEO Richard Paulson has gotten straight F for almost 4 years in value creation tests. Fire this failure CEO and KPTI will take off.
It seems that: 1) Richard Paulson’s mindset is twisted and not in line with what he was hired to do, i.e., create shareholder value which he’s proven to be utterly incompetent in (KPTI destroyed 98% while he’s been with Karyopharm); 2) creating value for shareholders, which is what Richard Paulson was hired to do, has never been on his priority list. Otherwise he wouldn’t mismanage the company and our assets as he has; 3) he has a twisted mindset that his mandate is to “cure cancer” which he thinks entitles him to burning through our cash irresponsibly while benefiting himself and other insiders, and even giving away hundreds of thousands of dollars to just one charity, and lots to other charities, because he has a twisted idea that Karyopharm is a charitable foundation with lots of legacy that can afford to give to other charities, while in reality, the company is on the brink of running out of cash and has to dilute some 2.5 million shares just to pay Richard Paulson’s salary and undeserved bonus for one year!
Still, he doesn’t cut down on his unnecessary plush travels, daily catered lunches for all employees, a low-productive and very costly vacation-club culture, perks, events, givings, extreme benefits, etc., and even giving money away. He’s reportedly earmarked $250,000 to give to one charity in 2025 while the stock is in danger of delisting and even more toxic dilution (after Paulson has debilitated the stock by dilution and very bad deals and costly toxic financing), and he’s planned to do so without the public finding out, according to the direct statements of the charity to our investigator!
Firing Paulson is the quickest solution to this misery he’s put shareholders in as he’s destroyed over 1 billion in stockholder value, while making some $5 million himself, handing us a bunch of empty lines, broken promises, and a careless, relaxed, detached attitude that “shxt happens”. Shxt has happened because of his mismanagement of the company and the Board’s passive, hands off, breach of its fiduciary duties. Giving him a reversed split stock will mean further value destruction. Turtles can’t fly. The Board is responsible and liable and will be held accountable if this Paulson mismanagement nightmare continues, which it surely will if he continues to be the CEO.
Letter To The Board: The House Is On Fire
Letter To The Board: The House Is On Fire
MR. GREENE: PLEASE FORWARD TO EACH AND EVERY KARYOPHARM BOARD MEMBER.
Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger: The house is on fire. Urgently firing Richard Paulson is a choiceless matter if you understand the options
It should have never gotten to this point where the future of the company is hinged on one set of data...
They had enough money to see through EC trial, but they kept delaying the trial, and they kept burning cash. Future hinging on one set of data is very motivating for entities who want the company destroyed - who have been totally ignored by the head-in-the-sand, complacent, entitled, weak, irresponsible CEO/Board, most of whom have no prior experience in dealing with Wall Street crooks, so they're being played like a yo-yo.
If management paid attention to those entities and addressed the issue, that would potentially weaken the position of those enemies (short sellers, hedge funds or even pharma who is drooling over making Karyopharm into a multi-billion-dollar business, without the current shareholders). The choices are clear:
1) Let the dysfunctional status quo and Richard Paulson continue and count on a miracle which also assumes the enemies of the company who run circles around our weak management not derail the data -- while Paulson has destroyed the stock and killed the cash runway by wasting assets including giving 6-figure donations even after the stock was at risk of delisting, and Paulson living it up on our millions and hanging out with McDreamy, taking unnecessary trips that cost us a ton of money, and enjoying his perks, and spending a significant amount of his time socializing with other CEOs (per his own admission) while he should be working hard with a sense of urgency which has been totally absent.
2) Or fire Paulson, and get someone who understands turnaround management, cut the thick layers of fat which Paulson is not willing to or is not even competent enough to recognize it (since he always worked for financially strong companies), which would also cut into his own plush life / wasting of our assets. This is a case where extreme austerity measures are needed, which good prudent CEOs and BODs do in situations like this, but our team seem too used to their plush life funded by our millions. And take other steps which are absolutely possible, even at this stage, to extend the runway.
Most importantly, a new CEO will give a boost of confidence to Wall Street which is worn out by these losers of our assets. Wall Street invests to make money and not to fund charities (they don't call their funding of charities investment).
Management by counting on a miracle, or pragmatic, rational management based on facts which all call for Richard Paulson to be fired urgently.
A company the size of KaryoFUN doesn't need two legal counsels
A company the size of KaryoFUN doesn't need two legal counsels
Fire Mike Mano and you won't notice any difference except saving big $$$$$$$$
https://www.linkedin.com/in/nancy-smith-5b4b3028/
Nancy Smith seems like a very competent, solid Vice President, Deputy General Counsel. THat means we do NOT need Mike Mano who can't see beyond the end of his nose and has been a disaster General Counsel for Karyopharm, based on information and belief.
It seems the Board is keeping Mano because he's the gate keeper to make sure the Board continues to get its big undeserved compensation while not having ever done anything that has translated to value. Numbers don't lie. They just take and never give.
But Richard Paulson is too weak to cut costs in a meaningful way. And he's a beneficiary of the dysfunctional status quo that has destroyed a billion dollars in investor value. Mano is a part of that status quo. Paulson is too weak to get rid of him.
Medical Doctor / Investor
Medical Doctor / Investor
"In 2023 why not cut costs to ensure runway past Phase 3 readouts?... Why I said: Financial Discipline, Accountability, Urgency"
I believe in the science, especially EC wtp53 pMMR. Does the Board of Directors? Why did the board not step in when the MGMT they selected were going to have runway end BEFORE their Phase 3 readouts? Why not cut spending earlier to achieve? Why not decrease bonuses if trials not enrolled?
With this MGMT you get what you tolerate. The board financially rewarded this MGMT while stock dropped 95%. Do you not think that is the problem?
Dr. DD
"They been overhyping trials for past 5 years starting with s1. Nothing has ever manifested but their bullshit"
Short Interest Has Increased Thanks To Richard Paulson And Mike Mano’s Great Value Destruction
Short Interest Has Increased Thanks To Richard Paulson And Mike Mano’s Great Value Destruction
Shorts have continued to short the stock sub-1 because with Richard Paulson and Mike Mano in charge, they couldn't go wrong. While the insiders are destroying our assets, even giving them away as cash is running out, and getting richer off shareholder funds, and having their heads squarely in the sand, the entities who want to see the company fully destroyed think strategically, and have game plans our chumps can't comprehend even if they started thinking beyond the end of their noses. That's how Paulson's irresponsible, horrible mismanagement has destroyed our assets, and the Board letting him take even one more step is a disgrace to shareholders and Board's duties. Firing Paulson will restore credibility to the company which should transform into a serious business, away from the dysfunctional paradigm of "insiders first, shareholders last", "we're entitled to endless shareholder funds", "work last, everything else first", etc. - destruction of KPTI was not by chance, it was due to mismanagement, and therefore, the Board is in trouble.
Institutions Are Fed Up With Richard Paulson & Karyopharm’s Board of Directors
Institutions Are Fed Up With Richard Paulson & Karyopharm’s Board of Directors
We’re putting Richard Paulson's weak profile and horrific track record at Karyopharm and the Board of Directors' endorsement of it in front of institutional holders, and they want to fire the entire Board and put the company in hands of people who understand they were hired to serve shareholders and not the other way around: feeling entitled to endless shareholder funds to sustain their wasteful vacation club, and doing a bit of work on the side when they get a chance, and blowing it time and again by their irresponsible and incompetent mismanagement of the company and its assets, and preposterously burning through large sums of cash including splurging it on themselves, and even giving away large sums because Richard Paulson forgot he’s running a for-profit company and not a charity. Firing Richard Paulson is the smart solution for Barry Greene et al. who are set to lose big. Firing Paulson is the biggest gift to shareholders and will restore trust in the company and will make KPTI take off.
Cost of On-The-Job Training for Richard Paulson: $1Billion in Market Cap + Existential Threat. It’s Urgent to Fire This Weak, Inexperienced, Irresponsible, Inept, Wasteful, Value Destroyer CEO
Cost of On-The-Job Training for Richard Paulson: $1Billion in Market Cap + Existential Threat. It’s Urgent to Fire This Weak, Inexperienced, Irresponsible, Inept, Wasteful, Value Destroyer CEO
Richard Paulson: A CEO who’s never been a CEO of an entire company before – a rookie – no investor/analyst facing experience, let alone managing distressed situations and turnaround – he’s never done it in his career. And never had to apply real austerity measures in the past – ZERO experience – and instead is splurging our money like crazy.
Mike Mason: A CFO who was as weak as a CFO gets – and in charge of IR with absolutely no talent or track record in successful IR. Mike Mano: A General Counsel, who is as weak as a lawyer can get. Wall Street sharks / shorts / vultures LOVE this this trio who managed to destroy KPTI.
CEO Richard Paulson, Barry Greene and the Board are ultimately responsible. Whether incompetence in driving value, or being compromised, they’re in breach of their duties. Least painful solution is to Fire Richard Paulson.
Letting Richard Paulson continue would be further breach of the Board’s duties, given his disastrous track record of value destruction, and so clearly being unfit for the role: no experience, competence, skills, attitude. The solution is obvious for any prudent Board: Get Rid Of This Horrible CEO before he sucks the rest of the life out of the company.
Existential Threat Due To Mismanagement
Existential Threat Due To Mismanagement
MR. GREENE: PLEASE FORWARD TO EACH AND EVERY KARYOPHARM BOARD MEMBER.
Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger: THE DOUBLE-DIGIT STOCK IS NOW 37 CENTS (pre-RSS unit).
You won't be able to say you weren't warned, or you didn't know, especially given you have a fiduciary duty to know without warnings.
If you're blindly following Richard Paulson and Mike Mano's delusional projections and advice, you're driving directorship careers off a deep cliff. Isn't 98% destruction of the company enough for you to take action?
A good summary was just posted online. It's no secret to anyone with any experience in business that Richard Paulson must be fired, unless you're in on a rotten deal. You bet when more institutional investors find out about your breach of duties they will "eat you alive". We have an ongoing outreach process which is gathering steam.
Reminder: the stock is now 37 cents pre-RSS -- which is what we predicted when you continue having an incompetent, irresponsible, or possibly compromised CEO running the show. Isn't 98% destruction enough for you? Do you have any morals and ethics and business understandings to see the right course of action which is to IMMEDIATELY FIRE RICHARD PAULSON?
Karyopharm is facing an existential threat, and needs to urgently reduce its burn rate and extend its runway. Richard Paulson has exhibited a utter lack of competence or motivation to do so.
The potential for KPTI to provide very high returns for investors is very high, but that seems impossible under the current CEO. Several investors have warned the company over the years about the need to reduce the burn rate, but that has consistently been ignored. There were finally some layoffs, too little too late, and the structure remained extremely high. Key actions competence management take to reduce costs were lacking, such as a travel freeze, salary freeze, hiring freeze, reduction of all non-essential expenses, elimination of donations (most companies in Karyopharm's financial position in the last five years would not make any donations while losing millions but Karyopharm gave away large sums of money to charity, including multiple 6-figure donations while being under the threat of financial survival.
KPTI as we know it may not exist for long if the current modus operandi continues. A fundamental shift in attitude is urgently needed, on the part of the Board, and implemented by a new CEO. That's what normally happens in the business world: when a CEO fails so badly, he's replaced. It's business-101, common sense. The Board doesn't sit around and hope that the non-performing CEO will miraculously transform overnight. There's a lot of indication to the contrary. The inefficient, wasteful, entitled, unoptimized culture, and a lack of commitment to the Board's mandate to drive value, and a lack of sense of urgency, seem engraved in the organization's fabric, which again, is conventionally solved by a change at the very top.
Studies show the number one reason CEOs get fired is poor performance. Isn't 4 years of it enough?
More here: https://x.com/karyowatch
The Clock Is Ticking! When you get the summons and complaint it will be too late.
DON'T GIVE PAULSON REVERSE SPLIT. FIRE HIM FIRST. DO RSS WITH A NEW COMPETENT TURNAROUND CEO
DON'T GIVE PAULSON REVERSE SPLIT. FIRE HIM FIRST. DO RSS WITH A NEW COMPETENT TURNAROUND CEO
They've had a ton of value creation opportunity before which they've blown. Value is measured in dollars, using a simple formula: stock price x #shares. Both are affected by simple supply demand function. Demand is affected by earnings/share, prospects, how well expenses are controlled, management credibility, and a host of other factors. KPTI has serious governance issues. Very troubling, credible witness has stated that Karyopharm is set to SECRETLY donate $250,000 to a charity this year (after giving $500,000 already) while it’s booking millions in losses, millions in interest to toxic financiers, and is under Going Concern and default risk. And, to make it worse, it wants to give away shareholder funds without getting publicity; in other words, in secret, hidden from shareholders. This kind of wastage of assets and total disregard for important metrics doesn't get cured with good data. Plus, modus operandi means the same self-serving, wasting of assets that shorts love to see so post RSS, the same thing can continue and stock can get halved quickly.
Vote FOR the Reverse Split Though It'd Be Better If They Had Fired Paulson First.
Vote FOR the Reverse Split Though It'd Be Better If They Had Fired Paulson First.
Karyopharm (KPTI) has a special vote coming up in a few hours (Today, 9 am EST). I encourage the shareholders to vote FOR (in favor of) the Reverse Split, and vote AGAINST everything else. The company needs to do a RSS to stay listed on NASDAQ, but needs to urgently bring change to the status quo (best by replacing CEO Richard Paulson who's been a disaster, and proven to be incompetent in creating value and totally unfit for running Karyopharm).
Some of you were involved in warning the management over 3 years ago, but they consistently ignored our advice, and sorry to say, we were right in predicting what would happen if they didn't bring fundamental change 3.5 years ago. Richard Paulson and the Board which has been a total failure of fiduciary have destroyed 98% of KPTI price. Some RSSs are successful but only when combined with fundamental change which KPTI has not done yet, and is urgently needed.
Those of you who were ARNA shareholders prior to Pfizer takeover remember that after CEO change which we facilitated and many believe would not have happened had it not been for our activism. We were one step away from taking them to court when they finally fired the CEO and it was the best move in the history of the company. Subsequently, the company did an RSS which was very successful.
Richard Paulson is another horrible CEO like Jack Lief, and the easiest remedy is for him to be replaced by someone with basic business sense, guts and courage to drive the bottom line and shake up the rotten status quo, and have the professional ethics to put creation of shareholder value (measured in dollars: #of shares x share price) as top priority, and not his plush easy life and running the company like a vacation club, on our dime (or rather millions), while getting paid millions no matter what happens. Change of CEO will also attract serious new demand.
FIRE CREEPY PAULSON WHO IS UNFIT TO BE KARYOPHARM CEO BECAUSE HE EXHIBITS SERIOUS ETHICAL AND COMPETENCE ISSUES
FIRE CREEPY PAULSON WHO IS UNFIT TO BE KARYOPHARM CEO BECAUSE HE EXHIBITS SERIOUS ETHICAL AND COMPETENCE ISSUES
It is UNETHICAL and UNLAWFUL for Richard Paulson, Barry Greene et al. to donate millions of our money while booking tens of millions in losses, and paying millions in interest to toxic financiers which is a hole they got us into for exactly such irresponsible wastage of corporate assets (chronic spending diarrhea)! Business 101. FIRE PAULSON NOW. HE’S A CURSE TO KARYOPHARM SHAREHOLDERS and has shown time and again that he is unfit for running Karyopharm. 98% drop in KPTI value is the proof you can’t deny, and he’s still at it. He gave away 250k in 2023 and 250k in 2024 to just one charity while the stock struggled to stay listed. This is how CREEPY he is and DANGEROUS for shareholders. You can’t waste corporate assets and expect to attract investors which is critical for creating value. MBA 101. FIRE PAULSON NOW.
The alternative is to have Paulson’s head examined, and run him through a conflict of interest investigation. Bottom line: We Do NOT Trust Paulson for very legitimate reasons. There’s been too many screwups or unintentional destruction of our wealth for him to keep his job, and, get another $1.2mm++ this year. He has his mandate confused. He’s not acting in concert with shareholder interest and must be fired. Otherwise we have to force the Board. We’re very close to that point and the Board should try to avoid that for its own sake.
Another 6% Drop: Urgent Warning To Karyopharm Board Members
Another 6% Drop: Urgent Warning To Karyopharm Board Members
The stock lost over 6% today, 31 January 2025. This week we obtained yet another rock-solid evidence of your breach of fiduciary duties and gross wastage of corporate assets.
You should not do a reverse split until after you fire Richard Paulson and get rid of his chronic spending diarrhea and have an interim CEO or a turnaround CEO take this bull by the horns, transform Karyopharm into a business, with the goal of creating shareholder value, which is what you're paid to do (Business Management 101). Richard Paulson conveniently forgot that because that would mean he would have to save money and cut down on things like donating hundreds of thousands a pop to charities and taming his chronic spending modus operandi that has brought the company down to this level, and screwed, ripped off every shareholder who trusted you.
Without that action Richard Paulson will continue to destroy value just as he has done in the past almost 4 years while he has received almost 5 million dollars and enjoyed endless perks on shareholders' tab. After raiding the shareholders by dilution, the stock got paralyzed: no more juice to squeeze out of it - him and his weak CEO and General Counsel got us involved in nasty toxic financing which is costing us an arm and a leg in interest, and as usual, the contracts are so poorly inked that we even face default if it's not for a reverse split, which the irresponsible incompetent or compromised CEO will use to rinse and repeat: do RSS, then dilute, now he has a stronger stock to suck the life out of, to support his plush lifestyle, undeserved income, and money to pay your undeserved income for doing nothing of value. Numbers don't lie.
Many investors feel raided by this scam of an operation for shareholders where they're duped into believing the management will create value for them - but even despite booking hundreds of millions in losses, and losing over a billion dollars in market cap, and surrendering to toxic financiers, and paying millions in interest, and stock down 98%, and losing half of institutional investors, and about getting hit with a Going Concern warning -- the CEO still gifts hundreds of thousands to just one charity, every year, and this year he's reportedly intending to do it without being in public eye. Most large donations have an incentive of publicity for the company but our creepy CEO doesn't want that so investors and public don't find out he's giving away our money. How much creepier can that get?
If the Board doesn't know about that, which is probably the case given how you have consistently failed your fiduciary duties including duty of oversight, you can contact us and we will provide the solid proof -- which is one of many pieces of evidence we will use in court if you do not take action to clean up this mess, which seems to be rooted in Paulson's thinking and attitude. He seems to think his role is to cure cancer, and he seems to think Karyopharm is a charity and has endless access to cash. This crooked way of thinking is either the result of incompetence (his resumé shows he's never had to sail similar waters) or he's compromised.
It is also surely part of the dysfunctional culture Michael Kauffman started where the company was giving grants, like it's a non-profit foundation. The entire culture needs an overhaul, which is very easy to do, given how vivid and pronounced your problems are - and based on insider testimony we have. Paulson can absolutely not pull this off. His head is in another planet - another reality - than what it takes to turn around Karyopharm.
Either way, the Board is liable, and if we're forced to go that far, it will not be pretty for your resumes and future Board membership prospects. The house is on fire, and Paulson is no fireman, he's part of the problem. Firing him will send the right signal and give life to KPTI.
Board's Breach of Duties, Karyopharm Scam, One Investor's Prayers
Board's Breach of Duties, Karyopharm Scam, One Investor's Prayers
If the Board had performed its fiduciary duties and not given carte blanch to Richard Paulson and his extremely weak former CFO / current General Counsel, the Board would know what Paulson has burned the corporation's assets on, which has been very out of line with what responsible, competent CEOs who run business which are accountable to the Board and shareholders do. Now we have a much better understanding of how he's wasted our money, and there's legal precedence, and plenty of evidence, to convict the Board for breach of its your duties.
The easiest solution is to fire Richard Paulson. So many investors are calling for that. One investor is so sick of you all and feels so scammed that he wrote: "I hope they get sick and spend all the money they steal from small investors on their own medicine. I pray for it".
KPTI NEEDS A CEO WHO RUNS IT LIKE A BUSINESS, NOT A CHARITY WITH FIRST BENEFICIARY BEING RICHARD PAULSON HIMSELF => KPTI down 98%.
MR. BARRY GREENE: PLEASE FORWARD THIS TO EACH BOARD MEMBER
MR. BARRY GREENE: PLEASE FORWARD THIS TO EACH BOARD MEMBER
Do a reverse split and hand Paulson an $8 stock if we're lucky, and he will walk it right back down to under a dollar. I'm willing to bet on that. It's happened so many times to other companies who didn't address the fundamental reasons why the stock was destroyed to begin with. In this case, the reasons are crystal clear based on a large body of evidence: Richard Paulson's incompetence and a number of other problems with him. He's never navigated similar waters in his entire career, is winging it, and is sucking at it, at our cost. And ultimately the Board is responsible.
But if you fix the issue at its root cause, by firing Paulson, the company can become multi-billion dollars under competent, sensible, responsible, wise, accountable management - everything that Richard Paulson is not. He's reportedly earmarked another 250k to the charity he already gave 500k to, but this time, without the limelight because reportedly he doesn't want the donation to get publicity, which is one of the reasons many companies donate and get badges and recognition etc. Paulson wants to give away our money under the radar. Is he compromised? Or just incompetent or his head is somewhere else, and surely not aligned with shareholders, which is enough of a reason to get fired.
More Warnings For The Deaf Ears Of An Incompetent, Irresponsible Board
More Warnings For The Deaf Ears Of An Incompetent, Irresponsible Board
The stock is struggling to stay above 40 cents (pre-RSS). Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger, foremost, Richard Paulson are responsible for this gross value destruction due to your negligence and breach of your duties.
An investor wrote the following today (see "FROM AN INVESTOR" section below) Remember that we warned you about the share price tanking if Paulson / Mason / Mano continued their modus operandi when the stock was in teens (pre-RSS). We specifically said it could go below $2. Paulson, drunk by his feeling entitled and privileged to live it up on our funds, splurge, even give away money, to the point of some investors speculating he may be batting for the shorts/crooks -- he ignored our prediction -- the stock went to 50 cents (pre-RSS). Now the following investor is predicting $3 (post RSS) (20 cents pre-RSS). That could easily happen. Unless certain actions are urgently taken, and firing Paulson is on his list. The Board itself is asleep on the wheel. Paying itself big bucks with our money, destroying our assets, no sense of accountability and integrity to abide by its mandate and fiduciary duties. But this modus operandi is going to cost y'all big time because there's justice in the universe.
What y'all don't get is this:
Paulson/Mano/Mason entirely ignored the parties (e.g. short sellers) who are professionals at destroying companies and they're doing everything to destroy us, and we're led by an incompetent rookie who's never been a CEO of an entire company before, never had investor facing roles, never worked for financially distressed companies. The chump thinks he's still working for big pharma - and BP would never give an executive the kind of carte blanch you gave Paulson by failure of your duties.
The head-in-the-sand approach of ignoring anything beyond the end of one's nose, while being fat and happy with millions in pay, has been detrimental to the share price, but Paulson and Mano couldn't give a damn - they're getting millions regardless. Same with y'all but the bad news is: you're responsible for this mess.
It's fair to assume, based on experience, that the very entities you've been ignoring, who are far smarter than you, Paulson and Mano and run circles around y'all, have it planned to screw you even more, including manipulating the FDA. So Paulson's delusional plan can go bust in a snap. He doesn't give a damn. His priority seems to be extending his gig as long as possible, and splurging our assets to his benefit, and even giving 250k chunks to McDreamy etc. and hanging out with him.
If you have any integrity, you need to put a STOP to this bleeding and put a CEO in place whom at a minimum gets some basic facts right - like what is his charter. Paulson doesn't even get that right. Not having done anything of value and having destroyed a billion in assets, he's resorted to priding himself for taking Selinexor to market - which he didn't! And he thinks a significant part of his job is socializing with other CEOs (he has nothing better of value to do)! And he thinks his mission is to cure cancer (even if that means bankrupting the shareholders -- it seems he likes that term because he seems to hate the shareholders, and hate accountability. Otherwise, he wouldn't destroy our assets as he's had.
A major part of value creation for a publicly traded corporation is investor demand, which these chumps have utterly failed at driving because bad performance, bad management speaks for itself. Paulson can fool investors all he wants by projecting billions in revenue, that MM is profitable, that his laughable cost savings are significant, etc. but investors see through his ugly beard he's hiding behind.
Institutional who are long the stock are coming on board, and it will be a avalanche of justice you can't imagine. The clock is ticking. Do yourselves a favor and fire Paulson. We're not counting on you to have any empathy for shareholders given the gravity of your breach of duties towards us. For the Board the choice is very clear: Paulson is a curse and a liability for Karyopharm and if you keep him in that role, your breach of duties will compound and so will the repercussions.
FROM AN INVESTOR: If the 'management' continue to do nothing this might easily crash to $20m MC (SP of $3) very soon. Few actions, which could stabilize the SP: 1) Management buy shares on open market 2) Management accept shares in lieu of their cash salaries 3) Management announce major cost saving program 4) CEO is given the boot 5) The due part of the loan ($25m) is renegotiated/refinanced 6) Complete Enrollment in SENTRY Phase 3 is announced 7) The XPOVIO revenue stream is sold to a third-party What the 'management' has been doing is borderline criminal and I am using the word 'borderline' just to be polite.
More here: https://x.com/karyowatch
Medical Doctor / Investor: “I realized that when Richard Paulson should have been extending runway he was out spending company money and taking pictures with McDreamy.
REVERSE SPLIT
REVERSE SPLIT
5:00 p.m. Eastern Time, on February 25, 2025 (the “Effective Time”), a 1-for-15 reverse stock split (the “Reverse Stock Split”)
https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=318944426&type=HTML&symbol=KPTI&cdn=b88b2421c8fdada191b0bb65f90dc669&companyName=Karyopharm+Therapeutics+Inc.&formType=8-K&dateFiled=2025-02-24
https://www.nasdaq.com/market-activity/stocks/kpti/short-interest
KARYOPHARM ACCOUNTABILITY [previous contents of this page plus some new content (not chronological)]
KPTI has tanked 97.5 % on incompetent or corrupt CEO Richard Paulson’s watch while he’s been paid millions by the corrupt or incompetent Board which too has gotten a lot richer off shareholders’ money. This rotten deal has to end. Fire Richard Paulson now and bring a CEO (or Brendan or Sohanya or Reshma as interim) whom investors can trust, with turnaround and driving bottom line experience, and not a darling of hedge funds / crooks / vultures who have profited hundreds of millions from this egregious destruction of shareholder value by this lousy CEO and Board.
INTRODUCTION TEXT
INTRODUCTION TEXT
Accountability is a foreign concept to Karyopharm's Board of Directors and horrible CEO who have run the company to their ground, despite a great, cancer curing, life saving medicine - because of their incompetence in drive company value; a dysfunctional paradigm / mindset that they have infinite access to funds that they can splurge in supporting their lavish corporate lifestyle.
I have worked for world-class companies, and consulted for top executives, and turned around many distressed projects and programs, and have three university degrees including an MBA from UCI, and over decades of professional experience, and decades of biotech investing experience -- and I have never seen such incompetent, irresponsible, out of touch, delusional, preposterous management and Board of Directors when it comes to doing the job they were hired to do: build wealth for the company.
This is a basic principle of managing a corporation which every MBA student learns, but out people whom we are paying millions, somehow have forgotten their mandates.
We as a team of activist investors warned Karyopharm's then new CEO Richard Paulson, and the Board of Directors about what was to come if they did not bring meaningful, specific change that we recommended, which he absolutely could have back then, but he did not for reasons that can be speculated as either incompetence or selfishness or corruption or complacency or lack of intelligence or a combination of these. These are illustrated in more detail in the posts below. Every one of our predictions came true, including the stock tanking, because Richard Paulson and the Board did not listen. I hate telling executives "I told you so".
Over 3 years later, Paulson has been paid over $4million, and the stock has tanked about 95%. That is Paulson and this Board's record that empowered him in such destruction of company wealth.
Meanwhile, the company continued to waste our money, burning it on giving 6-figure donations, acting like a charity, acting like Red Cross distributing tens of thousands of masks, splurging it on all kinds of events, outings, daily free catered lunches for hundreds of employees, feeding an unsustainable cost structure, having the most vacation time of most American companies, having 4.5 day work days (caveat: work 1 hour extra a day - which is a joke given most of their high paid people are not hourly workers), paid time off at the end of the year, the best benefits for employees of most companies in America, advertising their benefits by pictures of employees standing next to Kilimanjaro sign (exotic trips) or working at home while holding a dog in one hand and a laptop in another hand.
Clearly not a very productive culture. and not a culture that knows anything about cost savings. Paulson continued to give us lip service as the stock tanked 95% with BS talk like "optionality", 2 billion revenue, "MM is profitable and is funding our pipeline" untrue BS (if that's true then they're burning over 100 million a year on non-pipeline and non-MM and non-sales expenses, which is impossible unless Paulson bought himself a $300,000 exotic car and the daily catered lunches for 300 people include caviar, lobster and Dom Pérignon.
They paid off 30% of people a year too late. And Paulson clearly has no idea what real cost cutting means. We do not believe Paulson has what it takes to turn around this company even if you throw the best of data at him. We need a turn-around CEO with the intelligence, experience, guts, nerves, vision, to trim the fat, STOP this wasteful culture, and there are so many ways to do it starting with stopping the stupid practice of daily catered lunch for all employees while the company is bleeding cash.
The steps should include a significant layoff from every department, and more in some departments, including the top heavy management.
Firing of Legal Counsel Mike Mano. Shorts love him because they can run circles around him.
Firing of CFO Mike Mason [update, this seems to be done already - to complete 5 November 2024] - we suspect he was fired. The "Arcade Mike" as some of us joke about, would not give up a lucrative ~$65,000 / month earning practically with no accountability of the results, signing 6 figure donations, and everything a strong CFO would NOT do. Paulson said Mason wants to explore private companies, which means he has no job yet, and was probably fired - which is a sign of life that the dead-wood Board of Directors might still be alive.
These losers of our money WILL BE HELD ACCOUNTABLE. They don't like that. They've gotten too used to burning our money with no accountability, which naturally results in that 95% drop in stock price because life work like that. Just don't want to put the money into a charity which pretends to be a biotech or vice versa -- and some 50% of institutions bailed on these losers of value.
A new CEO can garner respect again on Wall Street after this incompetent, moronic mismanagement of the company destroyed Wall Street's trust. Numbers don't lie.
The following posts are updated regularly.
We have invited Richard Paulson for a dialogue. He has yet to accept. Watch this space for updates.
OPEN LETTER TO RICHARD PAULSON & THE BOARD (SEP 2024) -
OPEN LETTER TO RICHARD PAULSON & THE BOARD (SEP 2024) -
Mr. Barry Greene / Mike Mano: Please forward this to all Board Members
§ To: barry.greene@sagerx.com, zsu@marengotx.com, barryge@gmail.com, ggbohlin@gmail.com, cschor@AdicetBio.com, deepa@DelphiVentures.com, richard.paulson@karyopharm.com
§ Cc: Elhan Webb <elhan.webb@karyopharm.com>, sohanya.cheng@karyopharm.com, reshma.rangwala@karyopharm.com, SShacham@karyopharm.com, kauffman1963@gmail.com, Mike Mano General Counsel <Michael.Mano@karyopharm.com>
Open Letter to Richard Paulson And Karyopharm’s Useless Board About Their Fiduciary Duties, Urgent Need For A New CEO, and A Lesson in Cost Cutting
Richard Paulson, let’s bring you back from your delusional la-la-land of:
- 2 billion sales
- “MM is profitable and is funding our pipeline” which is a lie (a half-truth is a lie, and you know in that statement you are not saying the whole truth, so you’re lying). If your pipeline was being covered by MM “profit” why would you have a deficit of over 100 million a year which has broken the back of the company, with a huge interest payment, and stupid deals you enter with financiers because you, your CFO and your Legal Counsel are so incompetent in driving company value.
- And other such nonsense Richard Paulson feeds investors, along with excuses for constant delays, and gross mismanagement of company assets as proven by the numbers that don’t lie.
Make no mistake, it is our money, shareholder money, company assets which are funding your lavish splurging lifestyle of the “fun science lab” “free vacation club” with your daily free lunch for everyone, 6 figure donations, 4.5 day work week, double the vacation most US companies give, year-end paid shut down, endless perks, un events, exotic trip picture posted on your benefits page, everyone can work from home whenever they want with their dog on the lap along with the laptop (that’s the picture you promote), giveaways, splurge, splurge, burn cash like there’s no tomorrow – and you have the nerve to brag about cost savings!
That is your track record Richard Paulson, and you were so weak to not stop that dysfunctional culture, and gave it continuity, benefited from it personally (who doesn’t like daily free lunchs, and all the benefits of a “fun vacation club” called work, listed above and much more). And you even got paid over $4 millions by the useless Karyopharm Board of Directors which was probably the reason behind the song you sing about believing in the extraordinary.
It’s extraordinary that a CEO as horrible as you in terms of performance for what you’re mandated to do (to build company value, which you’ve forgotten) which is measured in dollars – destroys so much value, still gets millions, and is still not fired!
A painful part of this is we explicitly warned you after you were hired, with specific recommendations, and predictions of consequences if you don’t implement those changes, and sad to say that our predictions became true. We had the insight but you were too arrogant or too incompetent, or maybe even corrupt -- if you came in to destroy the value due to a conspiracy to kill the stock so this great science is stolen from the hands of us shareholders who funded this company for years -- we just don’t know but and it’s most likely a combination of selfishness and incompetence, but we can’t rule our possibility of corruption.
Perhaps you are so incompetent to not know the dangers of the stock being 70 cents, or that once you killed the stock over 75%, if you have any business sense, if you don’t have a corrupt agenda, if you are half intelligent, you’d know that you need to save money and go into a survival mode and not continue splurging like there’s no tomorrow, like feed your faces every day using shareholder funds, and you wouldn’t donate hundreds of thousands of dollars from shareholder funds, etc. etc..
We have totally given up on you. A horrible CEO who has decimated the stock by 95% is not going to be able to turn it around even if he wants to, and we’re not sure if you do.
You were a year late in cutting the staff by 30% -- too little too late. You still have a big layer of fat to the tune of 50% that you need to cut, but you won’t because you’re a part of the problem, of this dysfunctional, sick culture – a beneficiary of it, and you seem too weak to change it.
Next time you decide to give us your spiel about cost cutting, about “next stage of growth” and “optionality” nonsense talk, remember the following tips on cost savings. By the way, 95% drop in stock is no stage of growth – the only growth of value has been your bank account.
Cutting costs is easy in this case because the choice is clear: the status quo is NOT sustainable. But you can’t b/c you’re so incompetent about running a business. So you should quit and get a job in a charity, and take Mike Mano’s hand with you out the door, and Mike Mason too, way before 5 November hopefully. Every day with Mike Mason as CFO is a blow in the face of shareholders. Numbers don’t lie.
It’s established that you’ve been a horrible CEO, a total failure Richard, for people who pay your salary. For the rest of the beneficiaries of the “paid vacation club”, you’ve been awesome.
What is it going to take for such a horrible CEO to grasp what real cost cutting means?
What is it going to take for such a horrible CEO to grasp that the current cost structure is NOT sustainable?
What is is going to take for that useless, lazy Board of Directors who are incompetent in driving value for Karyopharm -- and have breached their key duties – to see that Richard Paulson does not have what it takes to bring the changes Karyopharm needs because he’s too engraved in it himself, and he’s too weak.
Richard Paulson doesn’t have the guts, the balls, the intelligence, the insight, the vision to understand the simple fact that THE CURRENT COST STRUCTURE IS NO SUSTAINABLE. Earth to Barry Greene and the rest of the useless Board:
You need a new CEO should not need this lesson. But here it is.
1. Realize the house is on fire. See what-is: the fact that you have ruined Karyopharm's value.
2. Saving every penny is a must.
3. HIRING FREEZE
4. TRAVEL FREEZE
5. SALARY FREEZE
6. ALL SPENDING HAS TO BE SIGNED BY CEO
7. Top level executives take a pay cut
8. Cancel daily free lunches
9. Lay off another at least 30% of the staff.
10. You can get a lot more productivity from the existing staff if you make them come to work, leave the dog at home, work 5 days a week, and cut the benefits to the normal level. You can’t afford to give extraordinary benefits when you’re in a survival mode.
11. Even hold off on an expensive CFO. Get a controller to take on the role, and work 5 days a week, from the office!
12. Go in a survival mode. Stop this “fun vacation club” mentality. When you’re in survival mode you need maximum productivity, and those who don’t want to come back from “vacation” can quit.
This is a simple case Richard but you’re apparently too incompetent to grasp it: With your sales of over 100m/year, if the cost structure is drastically reduced which is possible given the thick layer of “fat” in this paid vacation club called Karyopharm, the company valuation immediately multiplies.
But more importantly, a new no-nonsense CEO who can win trust of Wall Street that the company is no longer run moronically.
Your mismanagement and horrible deals and horrible wasteful culture and weak CFO and weak Legal Counsel has caused a horrible mess, huge interest expense, painful convertibles, a debilitated stock, an absolutely non-sustainable cost structure, and you have the nerve to go on the air and make a deceptive cash runway projections (that has major caveats) and expect people to believe that such an incompetent management (with exception of Sohanya, Reshma etc.), and their chronic spending cancer, and cash bleed, and horrible track record of destroying value, are all of a sudden going to transform this company into a business success. No Way!
So Karyopharm needs new blood at the very top. And the Board should acknowledge this fact and act on it. You will be held accountable.
Views expressed on this website are opinions and not investment advice or medical advice. This website was created and supported by Karyopharm investors who are fed up with the current lousy CEO Richard Paulson and some of his very weak direct reports who have ruined the company's value. We hold the Board of Directors responsible and are planning legal action if this mismanagement is not addressed with fundamental change. 3+ years for Richard Paulson and 95% drop in share price on his watch is ENOUGH. He's taken his test and miserably failed shareholders, while getting over 4 million dollars richer himself.
Karyopharm stock (KPTI) should be at least 10 times the current value right now, but it is not because of the mismanagement of the company. Put this great science in a competent hands and the stock will take off. Investors don't trust the current team which has killed the share price to the tune of 95% despite a cancer curing, life saving drug. A new CEO / CFO / Legal Counsel can win the trust of investors which the current management has lost - that they are laser focused on creating shareholder value instead, and transform the current unsustainable cost structure and financial mess the current horrible mismanagement has created, and the stock will quickly rise to $5 and above.
The people responsible for this decimation of company value: CEO Richard Paulson, former CFO Mike Mason, Legal Counsel Mike Mano, Board Members: Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger
Karyopharm Directors seem to have forgotten they're accountable to shareholders, by allowing this horrible CEO Richard Paulson ruin company value. Karyopharm urgently needs a new strong CEO, CFO, Legal Counsel to create value which these losers have failed at doing despite a life-saving, cancer curing medicine!
We also need a new head of HR - to replace Lisa A. DiPaolo - who can engage in transforming the company's wasteful HR policies that is costing us shareholders millions a month.
Karyopharm’s Most Incompetent Board In Biotech History
Karyopharm’s Most Incompetent Board In Biotech History
Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger Who Do Nothing Of Value For The Big $’s We Pay Them; Have Breached Their Duties; Destroyed KPTI by 96%; Empowered incompetent CEO Richard Paulson & LC Mike Mano and the rotten “culture” that just benefits insiders.
Corrupt or Incompetent Richard Paulson, Mike Mano, Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger Have Destroyed KPTI & WILL Be Held Accountable!
KPTI’s incompetent or corrupt Board has enabled the incompetent or corrupt: CEO Richard Paulson, Legal Counsel Mike Mano - and paid them millions of our money – who have destroyed over 98% of KPTI’s value by running a useless, inefficient “vacation club” that only benefits insiders; and have kept their heads in the sand because they’re so incompetent, by ignoring, e.g. the entire subject of artificial supply of shares. As a result of their ineptness, the short interest and toxic financiers has them under their thumbs, and these inept guys still don't realize it.
But for Paulson and Mano, Green, et al. they still don’t give a damn apparently b/c they’re in it for themselves: collect their undeserved salary and let the company go down, which also gives rise to the speculation of corruption since certain parties are profiting bigtime and have their eyes on Selinexor without shareholders: they want to steal it from our hands and our useless Board and management are making it possible, or perhaps even helping them. Urgent right action is to fire this pathetic CEO now, before the RSS vote, and before the last breath of life is sucked out by these enemies of shareholders:
Richard Paulson, Mike Mano, Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger.
I's important to vote FOR Reverse Split b/c of the devastation the creepy, lousy, self-serving, moronic CEO and Board did to KPTI.
Lousy CEO Richard Paulson has laughed his ass off at shareholders as he burned through millions of our money, got paid millions of our money, and destroyed our stock by over 96%. The Board is foolish to think he can turn KPTI around. But firing him will make KPTI take off for sure. Investors don't trust Paulson.
Excerpt from my email to Brendan Strong (copy Bohlin, Greene, Macomber): ... KPTI IR land which is used to ignoring investors until insiders need money to waste... that's one way Richard Paulson and the Board alienated so many investors including many institutions. They bring you in on a Mission Impossible - to fix the mess they made, which is impossible without curing the root cause of the disease, which is Paulson and Mano's ineptness and the Board's endorsement of incompetence. Here's an IR challenge for you (see link below which reflects ideas from a long-term shareholder I know with 200,000 shares). One tip for you off the bat: listening to Mike Mano and Richard Paulson almost guarantees your career will be ruined. Watch out. If you wanna succeed, think outside the box. They can't. Mano's foresight is about 3 inches in front of his nose. If the Board wants to create value, they should make you, Sohanya or Reshma as the CEO or interim, and fire Richard or at best keep him on the side as a consultant but in a very restricted contract because he's used to doing nothing of value for a ton of money. Marketers know it costs less to keep existing customers than attracting new ones. Same in the IR world. Your existing shareholders have thrown in the towel for years -- as they saw this ship sinking as "the captain was getting drunk on the deck every night". The miserable mismanagement which has almost bankrupted the company is hoping you can save them by attracting new investors - but rotten eggs don't attract even the hungry. The problem has to be solved at its core, which is Richard Paulson's caliber -- almost 4 years of learning (partying) on the "job" (holiday) and almost 5 million dollar cost to shareholders (plus tens of millions in equity award) should have shown the Board what that chap is about. I am totally in the camp of the shareholder with 200,000 shares who wants to sell just to punish the Board and Paulson so they go down at not continue getting richer off our pockets. Surely makes a good Harvard MBA case of how incompetent management screwed shareholders and ran a great drug into the ground while it profited handsomely itself - the last chapter is not written yet... On the bright side, KPTI is a ripe turnaround case and stock can go up in multiples if some of these asset destroyers are dumped.
§ Incompetent people in key roles, like Richard Paulson and Mike Mano who can’t see beyond the end of their noses, and horrific former CFO Mike Mason; no sense of accountability; forgetting mandate, charter, priority, purpose of having been hired: to create shareholder value; burning through millions unnecessarily; wasting assets on wrong things; living it up on shareholders’ tab;
§ Irresponsible, mindless, self-serving splurging of shareholder funds including daily free catered lunches; giving away tons of money to charity while booking millions in losses; vacation club style culture with 4.5 work days, more vacation time than majority of US companies, additional paid time off for everyone, work from anywhere, even with your dog on your lap (vacation spirit is priority); very low productivity;
§ Big bonuses for insiders despite pathetic record of non-performance; destruction of KPTI by 96%; ignoring experienced investors’ years of calls for change, tips, warnings; extremely myopic and no foresight of repercussions of living it up on shareholder funds;
§ Engaging in toxic financing after wasting so much assets, by being so incredibly incompetent; entering terrible deals that compromised IP assets; not sufficiently protecting IP assets, because of being so incompetent; not protecting product reputation and market access against systematic, professional disparagement, because of being so incompetent;
§ Absolutely ignoring key determining value factor: artificial supply of shares, because of being so incompetent; totally ignoring another key factor in value: demand for shares, by a horrific IR non-strategy led by former horrible CFO Mike Mason who couldn’t even dress properly or conduct himself properly in investor calls, and like Richard Paulson, Mike Mano and this incompetent Board seemed to hate shareholders (related to: lack of accountability; forgetting mandate/charter).
And now that this clueless, incompetent, gross mismanagement has hit a brick wall (which the myopic Board, CEO, CFO, LC didn’t have the intelligence, competence or care to predict, and ignored our calls which predicted it), they are desperate to do a reverse stock split (RSS) which they are too incompetent to understand that shorts will walk the stock right back down as long as the same incompetent losers are running this company because it’s guaranteed they will screw up even good data, as they have done in the past, because they are so incredibly incompetent in creating value, and too interested in sustaining a dysfunctional vacation culture that only benefits the insiders at shareholder cost.
And this team is too corrupt or incompetent to understand they are being played like a fiddle (or are in on it themselves) by the toxic sharks whose goal is to make the company default, so they steal the science, put it in competent hands, which will make it multi-billion dollar worth, and thus, screw the existing shareholders. And this incompetent gang is getting paid millions despite the above disasters they’ve caused, and giving themselves hefty bonuses. The Board must urgently act to get rid of Paulson, Mano, DiPaolo, and bring a turnaround CEO, otherwise, this gang that is incompetent in creating value will destroy the company, and YOU, the Board will pay it: you WILL be held accountable for empowering this nightmare of shareholder asset destruction.
What is it going to take to see that Paulson, Mano, et al. can’t pull it off? They’re totally incompetent in creating value. Greene, Bohlin, Schor, Pakianathan, Su, Mirza, Oliger – it’s about time you STOP being hands-off, self-serving, do-nothing Board members who just collects a fat salary + bonus, and have done ZERO that has created value. Instead, you’ve enabled, endorsed this incompetent team’s value destruction, and are apparently too incompetent to grasp that turtles can’t fly:
A CEO who destroys 96% of value, and doesn’t give a damn in misleading investors about enrollment or announcing delay after delay, while getting over a $1.2 million a year, and same story with Mike Mano. Lisa DiPaolo’s “culture” has helped destroy bottom line: sustaining a vacation club is expensive. Wise CEOs provide perks so it contributes to bottom line. At KaryoFUN, you give, for sake of giving, while creating company value is apparently at the bottom of your priority list.
You WILL be held accountable
You WILL be held accountable
This gang has has destroyed KPTI value by its corrupt or incompetent mismanagement while it has made a ton of money++ for itself at our cost. After their despicable modus operandi of -- chronic spending diarrhea, wasting shareholder money, ignoring key value drivers, neglecting the bottom-line, diluting and alienating shareholders, selling out to toxic financiers, and getting richer and richer themselves -- hit the wall, they hired a hotshot IR guy, and an average CFO with a “mini-MBA” (a $3500 course), and her longest CFO experience as CFO being at a consulting LLC!!) to try to compensate for having paralyzed KPTI by incompetence and splurging and wasting shareholder money (on themselves / the dysfunctional “culture”, and even giving it away while booking millions in losses).
Lousy CEO Richard Paulson’s idea of “cost savings” means maintaining the splurging diarrhea at the KaryoFUN “vacation club” they call “work”, and running the company like a non-profit charity while pretending to be a business. Superficial turnarounds doesn’t work. The same people who got you into a hole can’t get you out. Turnaround requires firing Richard Paulson and Mike Mano at a minimum, or deadwood, useless Board members themselves would be fired. A court verdict against them will prevent them from ever getting a Board job again: end of easy money for doing nothing and even destroying value by unethically and unlawfully allegedly failing their fiduciary duties, charter, mandate, i.e., value creation for stockholders.
KaryoFUN's Paulson, Mano etc. who destroyed KPTI by splurging & incompetence are on paid time off this week, plus millions in pay.
Fire creepy CEO Richard Paulson who's destroyed hundreds of millions in KPTI value. He's hiding behind his beard (see link below).
Hiding Behind the Beard. Facial hair and Physiognomy.
Hiding Behind the Beard. Facial hair and Physiognomy.
https://dralun.wordpress.com/2018/06/08/hiding-behind-the-beard-facial-hair-and-physiognomy/
Tragic Mismanagement
Tragic Mismanagement
The tragedy of having an incompetent or corrupt Karyopharm CEO Richard Paulson and Board (Barry Greene et al.) that is too weak and self-serving to fire Paulson and disturb the status quo that is very profitable for the Board but a disaster for shareholders; and the Board WILL be held accountable if it doesn't act!
One long-term shareholder we know with 200k shares is so upset at the lousy, incompetent, self-serving CEO Richard Paulson and the Board, that he wants to sell his shares vote against RS to help the company go out of business, just so that Paulson and the Board can't continue this sucking of shareholder "blood" (wealth) to further enrich themselves. It's very sad that it's got to this point that a long-term holder / supporter has turned this bitter and his decision is his way of revenging against this despicable destruction of company value in the hands of that gang which pays itself millions and has destroyed value. The CEO might be corrupt and has done it to benefit the shorts -- but it's more likely that it's purely a case of incompetence. As another shareholder put it, he ran KPTI like it's Amgen. Totally delusional and incompetent -- and the result speaks for itself:
97% destruction of KPTI, alienation of many shareholders / exodus of half of institutional shares , being under the thumbs of toxic financiers who are drooling for the last drops of the blood left, which the lousy, self-serving Board is handing it to them by keeping Paulson and Mano in power. Firing Paulson immediately is urgently needed because as another shareholder wrote, he will screw up going forward, as he has going back, and will continue to damage the company's credibility aside from ruining the company. Paulson is the worst CEO in history of Biotechnology and the worst Board ever is too weak to get rid of him -- they're too passive for their own good -- or might be corrupt and in bed with shorts. Just look at Deepa's history of her trades and her affiliations -- should scare the daylight out of any shareholder.
Miracles do happen. Turnarounds do happen, but not as long as Paulson is a CEO. And KPTI stock will take off when Paulson is fired.
Mike "Baffled" Mano is probably the most regular visitor of this page: https://x.com/karyowatch As the guardian of the useless Board and the dysfunctional, value-destroying status quo, he's chasing his tail trying to figure out how to quash free speech and pissed off shareholders; and the Board pay him handsomely (over $600k of our money) to help maintain the status quo which is very profitable for them (big pay for doing nothing of value), and which has been a financial disaster for shareholders because of Paulson, Mano, Mason, and the useless Board's incompetence or corruption.
KPTI Board paid Richard Paulson ~$50k, Mike Mano ~30k during the 2-week year-end shutdown for doing nothing that creates value as is the case all year 😡, and has been the case since Richard Paulson joined Karyopharm: constant, incessant destruction of company value while short/crooks/vultures have laughed their way to the bank and profited hundreds of millions of dollars as us shareholders got screwed by this lousy Board and CEO.
Financially challenged companies which are run by prudent, responsible, competent CEOs and Boards do a shutdown without pay as part of austerity measures to get through the hard times. Not at KaryoFUN where it's shareholders who are constantly shafted and expected to fund the splurging wasteful style of this incompetent or corrupt CEO and Board.
It's absolutely urgent that Richard Paulson is fired to stop the bleeding and this unsustainable, dysfunctional "culture" that only benefits the insiders at our cost. Or the whole Board will be held accountable to the extent that they couldn't get any more Board jobs, ever!
Richard Paulson has been a disaster for Karyopharm but he's stuck to it like a leech in a mutual back-scratching deal with the useless Board where they all get richer at our cost - e.g. Paulson gets north of $1.2m/yr regardless of how much value he destroys. They will be held accountable.
Despite a 97% drop in KPTI due to mismanagement, incompetence-or-corruption, lack of financial discipline, lack of respect for the charter Paulson, Greene and the rest of the Board were hired -- they still ordered catered lunches for themselves and the whole company, every f’n day, paid by our money. Plus endless other ways to make the insiders richer and richer and shareholders poorer and poorer. And they are still not done. They want to keep Paulson so he can incompetently-or-corruptly keep destroying the stock even more. 97.5% is not enough for them. Shorts are rejoicing as creepy Paulson, et al. keep repeating the mantra “we believe in the extraordinary” which shows either they’re on drugs to not face reality of their destruction of our money -- or they’re talking about their extraordinary bank balances, as they screwed us shareholders.
Firing Paulson is the quickest remedy to this nightmare caused by the Board (Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger) and the disaster trio: Richard Paulson, Mike Mano, Mike Mason.
Karyopharm’s Corrupt or Incompetent Board and CEO, and Horrible Legal Counsel who’ve Destroyed 98% of Investor Value by Their Clueless or Corrupt, and Irresponsible Mismanagement and Breach of Their Duties.
Karyopharm’s Corrupt or Incompetent Board and CEO, and Horrible Legal Counsel who’ve Destroyed 98% of Investor Value by Their Clueless or Corrupt, and Irresponsible Mismanagement and Breach of Their Duties.
Shorts, Toxic financiers, crooks and cockroaches have the incompetent or corrupt KPTI gang under their thumbs as they've succeeded in destroying 98% of KPTI by Richard Paulson, Mike Mano and the weak, do-nothing Board that just gets undeserved money, and has not added a penny of value, and has destroyed hundreds of millions of market cap. And this horrific, irresponsible, corrupt or incompetent Board still has Richard Paulson running the show, and paying him millions while shorts and crooks are drooling over taking over KPTI's life saving science and making it into a multi-billion dollar business which the current incompetent or corrupt CEO and Board will/can not because they are incompetent or corrupt.
But the bad news for Paulson, Greene, et al. is that they are accountable to shareholders. As much as they hate to be held accountable, this is not Wild West where they can destroy hundreds of millions in investor wealth, waste it, enrich themselves, and walk away and not be held accountable! Life doesn't work like that. The house is on fire and Bohlin, Schor, Pakianathan, Mirza, Su, Oliger are asleep at the wheel, getting undeserved money, getting richer an richer, and hoping that Paulson who’s destroyed KPTI by 98% will magically turn it around. No Way! This gang will screw up the best of data and will continue being a toy of the hedge funds who run circles around them. Firing Paulson now PRIOR to the Reverse Split vote is the only option to prevent the last 2% of value from sinking.
CEO Richard Paulson partying out with shareholder funds before surrendering to toxic financiers for more funds to waste, benefiting himself, the useless Board, and the members of the Karyofun vacation club ("employees"). This is how this lousy CEO Paulson destroyed 98% of KPTI value since joining Karyopharm. The useless, lazy, sleepy, do-nothing Board (Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger) who have been paid millions, turned a blind eye as long as their undeserved salary+bonus came coming. Then the funds ran out and they issued a default warning and if they don't get the reverse split vote, they surrender a noble drug that cures multiple cancers and is worth billions, to the toxic financiers, sharks, crooks, cockroaches and shorts who run circles around this lousy CEO, his lousy Legal Counsel Mike Mano, and the incompetent or corrupt Board that oversaw this destruction of assets for the benefit of shorts & crooks.
Unfortunately for them, they are accountable, and in modern day America the concept of accountability is enforced -- a concept the self-serving CEO and Board have totally ignored. So they can't walk away clean if they finish the job of destroying KPTI. So it's to their best interest to turn the company around, which is still possible with the last 2% breath of life that's left - but that's IMPOSSIBLE unless Paulson and Mano are ejected because Paulson's incompetence or corruption - and Mano's clueless incompetence in creating value, are key factors (+ disaster CFO Mike Mason who jumped ship after ruining KPTI but Paulson being as incompetent as he is in creating value, praised him -- unless he is corrupt and was thanking Mason for helping destroy KPTI). The level of stupidity, incompetence -- or corruption -- is mind-boggling.
The Board members are risking not ever qualifying for any Board job in the future which is the end of the easy money career for doing nothing of value: they've not added a penny of value to Karyopharm despite us paying the horrific, useless Board millions, and shamelessly they've put us at the risk of default despite over 100m a year in revenue just because they're too incompetent to create value, to tame runaway costs, and to recognize that competence matters and you put D-level people on the job and you get F-results.
Fire Richard Paulson and Mike Mano now and see the stock take off. Can immediately put Brendan, Sohanya or Reshma as interim CEO and get rid of this horrific, asset destroying, incompetent or corrupt CEO who's destroyed KPTI. When he joined the company KPTI was in the 20's. Now it's having a hard time staying above 65 cents because of his lousy mismanagement, and the lousy Board's enabling him. ENOUGH IS ENOUGH! Turtles can't fly. Even a miracle won't enable Paulson to turnaround KPTI. A new disruptive CEO is a must to upend this dysfunctional, value destroying status quo. Investors don't trust Paulson - numbers don't lie. WAKE THE HELL UP BOARD: Barry Greene, Garen Bohlin, Chen Schor, Deepa Pakianathan, Zhen Su, Mansoor Mirza, Christy Oliger. You WILL be held accountable.
(Picture: satire)
URGENT MESSAGE FOR BOARD MEMBERS: THE HOUSE IS ON FIRE AND YOU NEED TO ACT *NOW* TO SAVE KARYOPHARM
URGENT MESSAGE FOR BOARD MEMBERS: THE HOUSE IS ON FIRE AND YOU NEED TO ACT *NOW* TO SAVE KARYOPHARM
To Every Karyopharm Board Member: Think about all the money we've paid you for years and the value destruction on your watch. Isn't it time to do something that helps Karyopharm value? The house is on fire and your passivity is killing the company. You need to act NOW to FIRE RICHARD PAULSON. Leadership matters. Competence matters. Insight is action. No time to waste when the house is burning. What will it take for you to see that a man on whose watch KPTI has tanked 98% is NOT going to turn it around, no matter what the excuses. Excuses and delays are Paulson's ways while he has burnt through hundreds of millions of investor value.
He never worked for a company before which was financially weak - he has NO CLUE how to handle this. He's never had a job as CEO before that was investor facing. He's never had to turnaround a messed up company as a CEO. He's never had to deal with shorts - so he's just ignored them. He has said a big part of his job is socializing with other CEOs. He's run an incredibly inefficient "holiday club" "charity" instead of making Karyopharm a lean, performant organization. We have information from insiders about the incredible levels of asset wastage. Paulson thinks data far out there will save the ship from sinking, and will compensate for his incompetent (or corrupt) destruction of the company, while he has spent like crazy, and kept incredibly weak people like Mike Mason and Mike Mano who contributed greatly to the destruction of KPTI, and benefited himself from chronic spending; and benefited you who have been paying yourself increasingly big money while destroying value.
You were hired by shareholders to create value. This concept is completely missing in the way Karyopharm has been operating, and, it's completely missing from Paulson's paradigm. You've obliterated investors and that's exactly why a drug that cures multiple cancers is valued as peanuts because the crooks who run circles around you incompetent people have a clear strategy that your weak CEO and Legal Counsel were too myopic to see when they were selling us out to toxic financiers who have you all under their thumbs. Your incompetent or corrupt team ignored a key value factor for years (shorts), and now it's here to kill the company.
And you ignored all this for years which is just one of the examples of how you've breached your duties, and you WILL be held accountable. You have the power to put out this fire and turn Karyopharm around but not as long as Paulson is calling the shots. Wall Street doesn't trust Paulson and doesn't trust you because of Paulson's gross mismanagement. It is very likely that the RSS (Reverse Stock Split) vote will get rejected because the crooks you've ignored for years are powerful, and your most loyal investors have grown to hate the company as much as you all have apparently always hated investors (and therefore didn't mind destroying their wealth).
One long term investor who has over 100,000 shares wrote recently that if the FDA meeting news is positive, Paulson will try to release it during the holiday so it has the least impact. This lack of trust for the CEO, by long term investors perfectly explains the stock price and value destruction - a concept your incompetent CEO doesn't grasp: that value is a direct function of demand, and demand requires trust which the investors have lost. Since Paulson came on board KPTI has dropped 98%, and you are responsible for that, you've ignored that fact, and so have enabled it.
Therefore, you must take urgent action, before the RSS vote, to fire Richard Paulson and send a clear message to Wall Street that this lousy money losing ship is about to be turned around and is not going to sink as the vultures (shorts and those who want to buy us out for pennies on the dollar) have it all planned out (and that's why they have not covered even at 65 cents). You can put Brendan Strong as interim CEO. Or Sohanya or Reshma. All of them can do a far better job than the horrible CEO Paulson whom you are paying $1.2 million and he's had his eye off the ball for the longest time. Creating value for shareholders is apparently not even on his agenda, and even if it is he's too incompetent to do that. What part of this you can't see or get? Do you need to get dragged to court to get this? Which will end you Directorship career and other consequences you don't want.
And give the new interim CEO the power to turn the sinking ship around, apply austerity measures that Paulson is too incompetent to conceive of, and is too fat and happy in enjoying the status quo to want to bring change. Also you should fire Mike Mano. We told you this years ago but you endorsed these incompetent losers of value. You already have an excellent internal lawyer - you don't need two of them - and she can perfectly handle everything Mano does which have been a disaster for value anyway. He's let us down time and again, just as Paulson and Mason had, and YOU are responsible for that, and YOU will be held accountable for your destruction of KPTI. Wake Up. Act Now. Fire Paulson, unless you are corrupt and so incompetent to want to hand the company to the toxic financiers your incompetent people have sold us out to. There's a breath of life left. Seize it. It's impossible without firing Paulson. Just do it! The house is on fire. You have no time to waste.
"Believers in the extraordinary" destruction of company value forgot to include shareholders in their Christmas message. The beneficiaries were mentioned: employees and patients, but not the people who make that possible, who are funding their plush lifestyle. Karyopharm has always hated shareholders. When it needs money it goes begging shareholders, and then walks away, flipping them off. When they crippled the stock as a result, they resorted to toxic financiers. That's Richard Paulson and Karyopharm Board, Barry Greene et al. for you, no, against you. They were hired to build value for us, instead they engaged in doing that for themselves and got richer as they crippled the stock by their incompetent mismanagement, or intentionally, if they're corrupt. Firing Richard Paulson will make the stock take off because investors don't trust him. Numbers don't lie.
Mike "Baffled" Mano, dream come true Legal Counsel in the eyes of shorts / crooks / cockroaches / vultures who run circles around him. Baffled Mike has been instrumental in destruction of KaryoFUN (KPTI) shareholder value. The useless, irresponsible, weak, horrible Board explicitly endorsed Mano as well as Mike "Arcade" Mason the horrific CFO whom the creepy CEO Richard Paulson thought highly of because a weak CFO would allow the horrific CFO spend like mad as Paulson has done to benefit himself and the insiders (a big factor in the 97% destruction of KPTI stock aside from having weak people like Mano in key roles). I had a zoom call with Mike Mano once and was astonished at how clueless and weak he came across. One large shareholder (hotshot biopharma attorney) who worked before with him sold his shares in $6 range because he didn't trust Mano's abilities.
KPTI Board is wrong that Brendan Strong can compensate for Richard Paulson's value destruction. He should replace him ad interim.
KPTI Board is wrong that Brendan Strong can compensate for Richard Paulson's value destruction. He should replace him ad interim.
These incompetent losers can't even create value with over $100mm+ in revenue from a cancer curing drug! FIRE RICHARD PAULSON NOW.
KaryoFun vacation club has year-end PAID shutdown as KPTI is hammered due to Paulson, Mano, Greene, Schor, et al.'s mismanagement.
So was the FDA meeting news just a way for Paulson to pump KPTI so crooks can short more ahead of default warning in the RSS vote?
You never know with this creepy, value destroyer CEO and Board.
Paulson Drivel
Paulson Drivel
Baird cut off horrible CEO Richard Paulson's babble after he praised Mike Mason for having been a great CFO (LMAO) for 6 years (ya look at the result of his work: disaster); and kept repeating "transformative" babble. Someone wake up the Board to fire this lousy CEO who's killed the company with the stock diving almost 95% on his watch. And he has the nerve to talk about transforming the company via data. He already had the best of data but couldn't stop splurging with our money because he has no idea how to build worth, except for his own bank account, paid by us. And he keeps babbling about MM being profitable! Ya right! That MM is funding the pipeline! Right! Like over 100m deficit doesn't exist. And about 2 billion sales. And cash runway, except this and that caveat. I've invested in and also worked with a lot of competent CEOs, and none of them would talk so much BS as Paulson does.
Effective, competent CEOs/Boards vs. Richard Paulson, Barry Greene et al. KaryoFUN nightmare value destroyer
Effective, competent CEOs/Boards vs. Richard Paulson, Barry Greene et al. KaryoFUN nightmare value destroyer
Effective, competent CEOs who run a tight ship, create value, make their the profitable, utilize austerity measures, including unpaid shut down at year end, hiring freeze, travel freeze, pay cuts for Board and Executives, etc. - NOT at KARYOFUN which does PAID year-end shut down, and paid this and paid that, always footed by the shareholders. That's Richard Paulson's dysfunctional culture that has caused a 98% DESTRUCTION OF KPTI. Barry Greene, Chen Schor, Garen Bohlin, Zhen Su, Deepa Pakianathan, Mansoor Mirza, Christy Oliger and the rest of the selfish, incompetent, useless Board have endorsed this value destruction and WILL be held accountable.
Firing creepy CEO Paulson, clueless Legal Counsel Mike Mano, and wasteful HR head Lisa DiPaolo is urgently needed to stop this ship from sinking, by regaining investor confidence that Paulson has destroyed. KPTI will take off with a turnaround new CEO who understands his main mandate: value creation, which Paulson, Greene, et al. have forgotten long ago as they got richer and richer and investors poorer and poorer. Investors have lost faith in Paulson and this lousy, value destroying, self-serving "culture" that shamelessly delivers delays after delays as Paulson, Mano and the Board are paid millions from our money, and even bonuses as they've destroyed KPTI. They surely can't get away with this, as they are accountable to shareholders. It's to their best interest to STOP this nightmare mismanagement and fire Paulson immediately - which will make the stock go ballistic.
An investor wrote: So they already got 400m authorized shares and they look for 800m authorized shares. Unbelievable these guys are so greedy.
An investor wrote: So they already got 400m authorized shares and they look for 800m authorized shares. Unbelievable these guys are so greedy.
Greedy and incompetent. They don't know how to run a for-profit company otherwise they wouldn't flush millions of shareholder assets down the toilette as they have been by their reckless incompetent irresponsible cost structure to sustain the fun vacation club that profits the insiders. Being in competent they just know how to dilute, so they want to double the float. If left to these losers they will raise outstanding shares to a billion shares as long as Paulson can get his $1.2MM+ per year, Mano his 600K+ and Barry Greene and the rest of the useless Board to get the large sums of our money they pay themselves for doing nothing of value. They haven't created a penny of value. Numbers don't lie. They've only destroyed value, led by the incompetent or corrupt CEO Richard Paulson whom Wall Street doesn't seem to trust (so many times breaking his word, delays after delays, gross destruction of investor value...). Firing Paulson is a natural first step to turnaround. Given the huge short interest who are counting on the Paulson/Mano/Greene/Bohlin etc. incompetent team to continue to destroy value -- when Paulson and Mano are fired the stock will go ballistic.
Paulson, Board (Greene, Bohlin...)'s Chronic Splurging Diarrhea, Incompetence or Corruption has Destroyed KPTI. FIRE PAULSON NOW!
Paulson, Board (Greene, Bohlin...)'s Chronic Splurging Diarrhea, Incompetence or Corruption has Destroyed KPTI. FIRE PAULSON NOW!
Legal Counsel Mike Mano was too weak, myopic to ask the crooks they were selling us out to if they were short KPTI 😡
Everyone at KaryoFun vacation-club/charity that pretends to be a for-profit, gets paid during the shutdown. Fire Richard Paulson.
KPTI's horrible Board paid horrific CEO Richard Paulson another $25k this week as he destroyed more value. Shorts Love this gang.
After years of screwing investors by burning our funds on unnecessary things that benefit the insiders and everybody except us, and wasting so much assets, living it up on our tab, paying themselves millions in undeserved pay, and despite that having the worst CEO, CFO and Legal Counsel in our view, and a useless, passive Board that has failed its duties and let this incompetent, wasteful gang ruin the company to the point of issuing a default warning, despite an amazing drug cures multiple cancers. That's how clueless, incompetent or corrupt this gang has been.
Now that they have hit the wall, and have to face the music, they suddenly realize what we've been telling him for years, that you cannot ignore investors and just go to them when you need money and then flip them off and live it up on their funds without any sense of accountability. I anyway they should know their mandate and charter, which they have completely forgotten: it is not to try to have as much fun as you can without money, run a vacation club, splurge like there's no tomorrow, and despite that have the most incompetent people in the business in some key roles.
Richard Paulson has the nerve to talk about financial discipline while he is wholly responsible plus the board that have empowered him, for ruining the company financially. There is a ton of evidence to prove that point.
Now they're thinking about oh, we need investors because they see that their own mismanagement has led to the stock being in the toilet, and suddenly woke up to the fact that they're dysfunctional status quo that has ruined the stock by 96% I cannot continue.
But they are so incompetent or corrupt that they're not addressing the problem at its roots, which is Richard Paulson, Mike Mano, and the Board itself. The solution approach is very very clear, i.e., get rid of Richard Paulson, and bring a turnaround CEO to uproot and overhaul this cancerous paradigm of culture which can lead to significant cost reduction. And bring a Legal Counsel who is competent in creating value there's not a coward and can see beyond the end of his nose.
Brendan will do a good job in that role. He knows the investment side he knows the financial side, and he knows the business side, which is all we need in a CEO at this juncture. Richard Paulson has added zero value for the 4.2 million+ we paid him. Sohanya what is more than capable to do all the scientific leadership? Paulson is unnecessary overhead and given his history of value destruction, broken promises, terrible track record, he cannot win investor confidence which is key for value creation. Just look at how many institutions and retail investors have bailed on the company. Even your own, Director has bailed on the founders have bailed. Yes, this could be part of a corrupt conspiracy to steal this great drug from the shareholders after years of pain, they went through to support this lousy management. Unfortunately, we cannot rule that out but let's hope it's just incompetence. Push the board can quickly solve by firing this horrible CEO.
Growing Speculation That Richard Paulson Might Be An Agent Of Destruction For KPTI, Batting For The Shorts
Growing Speculation That Richard Paulson Might Be An Agent Of Destruction For KPTI, Batting For The Shorts
There's growing speculation among some investors that Richard Paulson might be working for the short interest, or those who want to gobble our cancer curing medicine that's worth billions for pennies on the dollar. Get $1.2 million + from the useless, do-nothing Board of Directors of Destruction (who are paying themselves a ton of money too for doing nothing that has created value), and help the shorts pocked hundreds of millions for a hefty return for him: e.g., making him the CEO of the new company after they destroy current shareholders with help from him and his weak, baffled Legal Counsel Mike Mano. Recently departed CFO Mike Mason was a perfect addition to the combo: just as weak as Mano.
Let's hope as the saying goes this is purely a matter of incompetence on Richard Paulson's part who has said he spends a major portion of his time socializing with other CEOs (instead of creating value for shareholders which is what he was hired to do). And Barry Greene and other Board members have given him carte blanche that has led to destruction of KPTI, thinking it's Wild West, and they are entitled to our money, just to splurge with it, and never be held accountable. But they WILL be held accountable.
Right action is to fire Paulson immediately as part of the reorg ahead of RSS vote on 30 Jan. That's how you win investor trust not making useless "incredible" videos and hiring a hotshot IR person. Nothing can compensate for corruption or incompetence. Trust attracts money. Self-serving, incompetent, irresponsible executives repel money.
Another excuse for the incompetent (or corrupt) CEO Richard Paulson to party out with shareholder money...
...while having destroyed the company financially, splurging irresponsibly for years, incompetently getting us into toxic financing, wasting assets, $11m / qtr interest payment: a dream come true for toxic sharks while our incompetent Board, CEO, CFO, Legal Counsel ignored what's in front of their eyes, as shorts, sharks, vultures jump in joy. Barry Greene et al. will be held accountable.
Reverse Split Without Fundamental Change = Disaster
RSS w/o uprooting the wastage & incompetence that led to a 96% drop in KPTI is to give another gift to shorts. Fire Paulson, Mano.
Reverse Split: Consequence of Incompetence & Mismanagement
This reverse split filing illustrates more severe consequences of also how incompetent CEO Paulson / Board / former CFO Mason / LC Mano got us into toxic financing, while they continued to burn through our money by wasting it on so many unnecessary things, that benefited themselves -- plush trips, daily catered lunches, and umpteen other perks - and they even gave it away. That’s how this horrific CEO ran the stock to the ground, and now has to do a reverse split or else the toxic financiers will gobble the company. RSS is sometimes successful but not in hands of this weak, horrific CEO / LC / Board.
Only Karyopharm’s clueless, weak Legal Counsel Mike Mano would write such a filing where he has to repeat that there is no in-person meeting because he thinks people are as unintelligent as he is, to not grasp it by reading once, he had to keep repeating!
One of many weaknesses of Mike Mano
One of many weaknesses of Mike Mano
Mike Mano was too timid to ask some deal participants that Karyopharm met, if they’re short the stock!! Even if they don’t answer, a Legal Counsel, CEO, CFO who are not short sighted, ask that question and read the reaction. Not our gang who can’t shoot straight and thus is a darling of toxic Wall Street sharks and vultures. KPTI didn’t drop 96% for no reason. Competence Matters! Richard Paulson & Board are responsible.
Richard Paulson is unnecessary overhead who adds no value & has incompetently destroyed KPTI
Richard Paulson is unnecessary overhead who adds no value & has incompetently destroyed KPTI
We've paid him >$4.5m & KPTI dropped 96%. Competence matters. Fire him.
KPTI Short interest up a million shares even at this price.
KPTI Short interest up a million shares even at this price.
Shorts are counting on the incompetent Board, CEO Richard Paulson, Legal Counsel Mike Mano, who are weak and can’t see beyond the end of their noses, and are getting richer and richer with shareholder funds as they have destroyed 96% of KPTI’s worth. And maybe shorts are now pulling strings at the FDA? It wouldn’t be their first time. If so, their game plan is to steal the company from current shareholders. Paulson still gets his frikin $1.2+ million a year and Mano and Board also get a ton of money regardless. Rotten to the core, in our view.
Reshma Rocked At Piper. Richard was totally unneeded, waste of money. Fire Richard Paulson who's killed KPTI and it will take off.
Reshma Rocked At Piper. Richard was totally unneeded, waste of money. Fire Richard Paulson who's killed KPTI and it will take off.
Richard Paulson is unnecessary overhead who has added zero value to the corporation since he was hired despite over $4 million we've paid him - and on top of that, he's destroyed KPTI by 96%, and meanwhile he's splurged like crazy, benefiting the Board and the insiders and of course himself, at our cost, including splurging on unnecessary trips to Europe, etc., and daily catered lunches, etc., and even giving away a lot of money -- and runs the company like a fun vacation club, or a charity that benefits the insiders at shareholder cost. Fire Paulson and KPTI will take off.
Incompetent CEO Richard Paulson Has No Pragmatic Plan For Turning Around KPTI Which He's Destroyed
Fire Paulson & KPTI will take off.
Incompetent CEO Richard Paulson Has No Pragmatic Plan For Turning Around KPTI Which He's Destroyed
Fire Paulson & KPTI will take off.
Horrible Weak Legal Counsel Mike Mano is KaryoFun Passive Board's Guard Dog
And He Gets Paid Big $'s To Maintain The Rotten Status Quo!
Entitled, Ineffective, Incompetent or Compromised, Expert In Value Destruction, Failure Karyopharm CEO Richard Paulson → KPTI ↓96%
Entitled, Ineffective, Incompetent or Compromised, Expert In Value Destruction, Failure Karyopharm CEO Richard Paulson → KPTI ↓96%
It's no surprise. The Board is responsible and will be held accountable.
Investor comments:
§ It’s just shocking how they have maintained such a large quarterly burn. Crazy financial mismanagement
§ Going concern February 2025. Good data soon will be nice but this moronic (possibly corrupt) Board & CEO have made it very difficult by their incompetent financial mismanagement.
§ This company's data better hit and on-time. Multiple respectable investors asking me why I’m long KPTI. They say - horrible management, terrible mismanaged finances….
Karyopharm's Failure CEO Richard Paulson Doesn't Have His Priorities Straight & The Board Has Failed Its Oversight Duty, Again
Karyopharm's Failure CEO Richard Paulson Doesn't Have His Priorities Straight & The Board Has Failed Its Oversight Duty, Again
Richard Paulson, in many public communications has said, that his agenda, goal, charter, mandate, is to cure cancer. He barely ever mentions his real agenda and mandate for which he was hired: to drive company value. He likes to ignore that because he is so incompetent in driving value. He's too busy and happy burning through investor cash for which he feels entitled to, since his delusional mandate presumes that investors are suckers who will fund his dreams endlessly, while he's living it up in a dream "culture" of 4.5 work days, endless benefits, work from anywhere all the time, free daily lunch brought to you, dream time off allowance, and endless other perks.
And, keeping some super weak people like Mike Mason and Mike Mano whom being weak, just go along with the dysfunctional status quo that benefits the failure CEO, themselves, the Board and other insiders, at shareholder cost.
§ The Board has failed to live by its mandate -- it's just collected large sums of undeserved salary and bonuses for years, and done ZERO that has translated into value, and to the contrary, because of its failure to abide by its mandate, value has been destroyed.
§ The Board has also failed to ensure that the failure CEO understands his mandate which is first and foremost to drive company value.
These are a few of many failures of the Board of its fiduciary duties which has translated into destruction of 96% of the company value and the stock being paralyzed and under the thumb of toxic financiers and short sellers. Congratulations Board. You WILL be held accountable - you can bet on that.
Competent CEOs vs. Richard Paulson
Competent CEOs vs. Richard Paulson
§ Competent, uncompromised CEOs and Boards sometimes need to take some basic steps, none of which Karyopharm’s horrible CEO/Board took in a timely manner: Get rid of weak team members; Cost cutting that involves much more than layoffs: salary freeze, hiring freeze, travel freeze, cancelling all unnecessary, uncritical expenditures, etc.; Overhauling the wasteful, dysfunctional, inefficient, entitled, spoiled “culture”.
§ INSTEAD: They laid off too few people, 18 months too late; Continued splurging which benefited insiders - burned through millions of stockholder assets; Incompetently entered bad, toxic debt deals instead of applying austerity measures, financial discipline; Destroyed the stock by 96%; Diluted like hell; Misled investors about enrollment; Many delays after delays; Destroyed value; Non-accountable Board failed duties and mandate to create value; CEO & Board paid big $s.
§ Is that CORRUPTION or INCOMPETENCE?
Are Richard Paulson & Karyopharm Board Compromised or Incompetent or Both?
Are Richard Paulson & Karyopharm Board Compromised or Incompetent or Both?
96% destruction of value - despite a life-saving drug - due to mismanagement, and ignoring all warnings and recommendations, is very fishy. Several veteran investors warned Paulson, Greene, Bohlin, Schor... 3.5 years ago but it was ignored. They also ignored the call for layoffs for 18 months; instead incompetently got us into toxic debt deals and paralyzed the stock further while splurging our cash that also benefited themselves, and misled us about enrollments, and carelessly announced multiple delays. It smells like rotten fish. Shorts, vultures, toxic sharks are thrilled. The Board will be held accountable unless Paulson is fired and a competent turnaround CEO is hired to shake up this rotten status quo, and regain investor trust which is required for creating value.
The drug is not the problem. Horrible mismanagement is.
The drug is not the problem. Horrible mismanagement is.
"Sell it" is a stupid idea. Sell if for what? 100% premium at $1.70 while the drug's worth is into the billions. What you're really trying to say by "sell it" is get rid of this lousy management and the lousy Board if they don't get rid of Paulson. The problem is not the drug. It's the incompetent CEO and a passive, do-nothing, useless, lazy Board of "Directors" who just direct money they get for doing nothing into their bank accounts, and don't give a damn about the job they're paid to do. Numbers don't lie.
If Barry Greene, Chen Schor, Garen Bohlin, Zhen Su, Deepa Pakianathan, Mansoor Mirza, Christy Oliger did what they are paid to do, they wouldn't tolerate years of value destruction by this lousy CEO and his lousy CFO and Legal Counsel. You don't solve that problem by selling the drug for cheap. You solve it by firing these useless, incompetent people, and bring in a turnaround CEO and overhaul the horribly wasteful culture, and puts creating company value as his first priority, unlike Richard Paulson for whom that concept doesn't even exist, it seems.
Insider tells us they've had layoffs, which is good.
Elhan Webb was likely laid off. IR's been useless b/c of reporting to Mason.
KPTI KaryoFUN Wasteful Culture Even Celebrates Pi Day(mathematics)!!
KPTI KaryoFUN Wasteful Culture Even Celebrates Pi Day(mathematics)!!
There's no event they don't like to celebrate - at our cost!
How Paulson Destroyed Value & The Board Endorsed It...
How Paulson Destroyed Value & The Board Endorsed It...
Richard Paulson, living it up in Europe, funded by stockholders’ assets. This is one of the ways this lousy, incompetent CEO burned through hundreds of millions of cash, and destroyed 96% of KPTI’s worth. The Board has consistently failed its duties including that of oversight and if it doesn’t fire/replace Paulson, it will be held accountable and will get disqualified from serving on any Board, ever. End of easy money. Such incompetent or compromised CEO got KPTI into this hole can’t turn it around. He’s a liability and has to go!
Richard Paulson's Party hardy in Barcelona
Richard Paulson's Party hardy in Barcelona
This is how the KaryoFUN live-it-up spending-diarrhea Paulson/Greene vacation club "culture" burns through our cash and benefits insiders at our cost. Party hardy in Barcelona. Was it really necessary for Richard Paulson to be there? No. Smart companies send one or two reps max at minimal cost and bring in the knowledge back and share it. Not at KaryoFUN. Burn-baby-burn-through-investor-cash. This is just one of many examples how Richard Paulson's mismanagement debilitated the company, with endorsement from Barry Greene et al at the useless Board who should not be Directors of any Board Ever, given their destruction of KPTI by their horrible "leadership".
KaryFUN's Elhan Webb Departure
KaryFUN's Elhan Webb Departure
It seems that Elhan Webb has been laid off. They are calling it "resignation" which would be dishonest (asking someone to resign is not a resignation) - just as the case of Mike Mason the disaster CFO that the horrible CEO Richard Paulson so much praised. Why would these people "resign" from the easiest "job" in the world if you can call it that, at the Richard Paulson "vacation club" with endless benefits and "work" from anywhere all the time, 4.5 day work, daily free lunches, more vacation than most US companies, paid time off for many occasions including volunteering! and so on, all on our tab because Paulson's culture has chronic spending diarrhea, and the Board has failed its duties for too long resulting in 96% drop in value. Mike Mason got some $60,000 a month for doing nothing that ever added value (market cap) to the company. People with these jobs don't "resign", they get fired or laid off to put it politely.
Elhan is a nice lady but as head of IR she was totally restrained by her boss, Mike Mason who has no clue what effective IR is - thus IR was a catastrophe (numbers don't lie). She's always been under Mike Mason's thumb - who micro manages investor communications because he's so nervous about his own job, and his role as gatekeeper to make sure the fat, lazy, do-nothing Board continues in the rotten status quo which makes itself richer and richer at the cost of investors, and in the process make people like Paulson and Mano richer by giving then undeserved fat salaries and bonuses while company value has been destroyed on their watch, by their mismanagement, it seems.
KaryoFUN's "Leakage" IR Person
KaryoFUN's "Leakage" IR Person
KaryoFUN has an unofficial leakage "IR" person: "Seforim" ("David" "Rabbenu Pehter" "Kinat Sofrim") https://x.com/kinatsofrim/photo who has been more effective than Elhan Webb or the company in keeping investors informed of information that we wouldn't otherwise have - and it seems he gets his info from an internal source, real-time. On Nov 19 he posted:
"Nov. 19, SVP of IR resigns & outsourced to Argot Partners." which the company has not announced itself. He's posted many such things in the past and links to interesting scientific developments that average investors wouldn't know, and even the company's calendar of events before it's officially released. This week he also posted that the company went to a conference in London where they didn't present, but were present (because Paulson likes to burn our money on himself).
"What folks miss is that $KPTI mgmt is at Jefferies like they do every year... only difference is this year they aren't doing a fireside chat." The man is in the know. So much for SEC's RegFD. And you can bet, if "David" gets this insider info, others do too, which helps the shorts make sure there are no surprises. Just another rotten part of Paulson/Greene's vacation club "culture".
Inside info says Paulson+ went to UK without presenting. Continued hurting bottom line by a self-serving, value-destroying CEO.
Inside info says Paulson+ went to UK without presenting. Continued hurting bottom line by a self-serving, value-destroying CEO.
And a self-serving Board implicitly endorses value destruction to the tune of 96%, by its ultra passivity. Numbers don't lie.
Short-friendly Management & Board Still Engaged In Destroying Company Value.
Short-friendly Management & Board Still Engaged In Destroying Company Value.
Karyopharm’s unofficial spokesman who gets insider info to post publicly, instead of company’s useless IR wrote: “KPTI mgmt is at Jefferies like they do every year... they aren't doing a fireside chat.” Not surprising Richard Paulson wouldn’t miss the chance to burn assets on a totally useless trip to UK, plush flight, hotel, meals, costing us 1000's, with zero positive impact on company value. That’s KaryoFUN’s pathetic culture and the extremely SHORT-FRIENDLY management & Board.
The Board WILL be held accountable.
No Concept Of Austerity
No Concept Of Austerity
Just recently they donated $25,000 that they could have instead used to pay off debt that they're paying a huge interest in. They have no financial discipline and have gotten too used to living a fat lazy plush business life, by burning our money. So there is a serious concern that if they continue this path the company can be in serious danger. They've already gotten in bed with toxic sharks. The only way out is a paradigm shift. Data won't help, even if they make it to the data without further sinking the company in debt and toxic financing and dilution. The company urgently needs new blood at the top (not talking about Reshma and Sohanya who are great). The Board has supported this misery and is responsible for it. We have ways of forcing change if they don't, but our experience in the past with similar companies has been that if they're intelligent they do what's right and that's not the continuation of the status quo, and avert litigation. I would also buy more shares but not with Paulson at the helm, and people like Deepa on the board whom I find to be creepy. Paulson I also consider creepy, and don't trust him, and he might have an ulterior motive. Nobody who's paid that much can appear that incompetent. So it may not be a competence issue...
Toxic sharks /shorts have KPTI under their thumbs...
Toxic sharks /shorts have KPTI under their thumbs...
...due to simpletons like Paulson, Mano, the passive Board who are a gift to short.
Dangers Of Doing Reverse Stock Split (RSS) Under Current Incompetent Leadership of KaryoFUN (KPTI)
Dangers Of Doing Reverse Stock Split (RSS) Under Current Incompetent Leadership of KaryoFUN (KPTI)
It seems by ousting Mason the Board wants to do a Reverse Stock Split (RSS) with a new CFO. That would be a "crime" for shareholders if Richard Paulson, Mike Mano, Lisa DiPaolo are still there. It'd be yet another gift to short sellers who've enjoyed eating 96% of stockholders' lunch under this clueless regime. A RSS should only happen when these parties are gone, or at least a new turnaround CEO is hired, together with significant austerity measure, which transforms this lousy, wasteful "holiday club" "charity" that pretends to be a business, into a real business. The current gang are incapable of such transformation because they're beneficiaries of the rotten status quo, and there are serious competence issues which shorts absolutely love.
Just as Paulson and the Board didn't have the competence to realize the consequences of having weak people like Mano in key roles, a splurging, wasteful culture, and implications of toxic financing, they don't have the knowledge, experience, competence, strength in understanding the consequences of a RSS. So once again financiers will run circles around them, do a RSS, and will short the hell out of it. RSS needs to be done but only a minority cases succeed. Most are walked right back down by shorts, KPTI is one of those (unless done in conjunction with hiring a turnaround CEO), because of the horrible, weak, careless, irresponsible, incompetent top leadership. The Board has forgotten its charter to create value. Firing Paulson is a great start. The Board is responsible for this mess and *will* be held accountable.
One Of Many Reasons Value-Destroyer, Incompetent CEO Richard Paulson Must Be Fired Is He Has No Clue What Austerity Measures mean.
One Of Many Reasons Value-Destroyer, Incompetent CEO Richard Paulson Must Be Fired Is He Has No Clue What Austerity Measures mean.
Austerity measures are against the Paulson/Mano/DiPaolo (and Mason)'s "culture".
There goes a 50k dump of KPTI
There goes a 50k dump of KPTI
Shorts adore Richard Paulson, Mike Mano, Barry Greene, Lisa DiPaolo, Mike Mason, et. all who have made the shorts so incredibly rich with our money, because the KaryoFUN can't shoot straight, doesn't give a damn about stockholder assets and company value. But they keep paying themselves big money, from our money, and getting richer and richer as the company value has tanked. Paulson always has an excuses but so do all horrible managers. But he keeps burning through our cash, having some weak people like Mike Mano in keep roles, wasting our money, even giving it out, while being totally incompetent about driving the bottom line and value. Paulson / Greene et al. seem to think they're running a charity that is to benefit themselves, employees, patients, and everybody else and their mothers, instead of shareholders who hired them and are paying them to create value. This rotten status quo can be easily turned around if Richard Paulson is fired. Possibility of corruption and intentional destruction of value can't be ruled out. The Board will be held accountable if they don't stop this nightmare mismanagement.
KaryoFun's Passive Careless Board Paid The Horrible, Failure CEO Richard Paulson Another $25k this week as KPTI value tanked more
KaryoFun's Passive Careless Board Paid The Horrible, Failure CEO Richard Paulson Another $25k this week as KPTI value tanked more
Firing Richard Paulson will make the stock take off.
Richard's idea of cost cutting excludes himself. He should not go to London next week. He's not needed. Reshma can handle it perfectly well.
Richard's idea of cost cutting excludes himself. He should not go to London next week. He's not needed. Reshma can handle it perfectly well.
Richard Paulson can save us thousands of dollars by not going to London next week but that’s not in his DNA. Dr. Reshma can handle it perfectly well, even better than with Richard. It seems:
Such cost savings that add up and directly impact bottom-line are not in Richard’s DNA. He never worked for a financially challenged company and has no conception of austerity measures, is incompetent in cutting costs significantly. Running a lean org seems opposite to the splurging culture they worship. Paulson is too weak and selfish to bring meaningful change. He feels entitled to spend our money, so his “cost savings” is too little too late. Cost savings means as long as it doesn’t cut into his and spoiled insiders’ and Board’s perks. Paulson is the enemy of KPTI stock. Numbers don’t lie.
Firing The Ineffective CEO Richard Paulson Who Has Destroyed Karyopharm’s Value Will Be Cheered By Investors And Is A Key Factor In Urgently Needed Turnaround
Firing The Ineffective CEO Richard Paulson Who Has Destroyed Karyopharm’s Value Will Be Cheered By Investors And Is A Key Factor In Urgently Needed Turnaround
Richard Paulson has destroyed company value by mismanagement of assets, some weak people like Mano and Mason in key roles, incompetence in dealing with the entire subject of bottom-line, and host of other issues he has that make him a horrible CEO for Karyopharm. If this were any other company, after 3.5 years of relentless destruction of value, the Board would have surely fired the CEO if the Board was not in it or had no ulterior motive which makes us wonder about by presence of people like Deepa Pakianathan on the Board, and the Board's ultra passivity in turning a blind eye to value by destruction by Paulson year after year, while he wasted millions of corporate assets in sustaining a "culture" that has only translated to more destruction of value. Intelligently managed companies build a culture that leads to productivity and the bottom line while keeping people happy. For Paulson and DiPaolo insiders benefiting seems to be an end in itself - just as serving patients, and giving money away to charity, and helping interns, and volunteer time, and plush trips, and daily free catered lunches, and you name it and you spend on it.
These are some of many reasons many investors don't trust Paulson and the Board, and shorts love Paulson/Mason/Mano gang that can't shoot straight. Numbers don't lie: institutional interest dropped by almost 50%, stock dropped by almost 95% and is paralyzed, under the thumb of toxic financiers and shorts, thanks to Paulson's mismanagement, in our opinion.
Short Interest Up And Has KPTI, Paulson & Mano & The Board Under Their Thumbs
Short Interest Up And Has KPTI, Paulson & Mano & The Board Under Their Thumbs
KPTI Short interest up by 80,000 shares, at 18 mil shares. Shorts are counting on Richard Paulson and the Board to continue destroying value for all the money they're paid (Paulson's report-card: over $4 m pay, 96% drop in shares due to two weak parties (M&M): financial mismanagement (having a weak CFO), deal and political mismanagement (having a weak Legal Counsel), and weak also means inability to think strategically and big. Richard Paulson being clueless himself since he had very little experience in similar situation so the Board hired a junior investor-facing CEO, who ignored our experience that predicted this disaster if he kept these weak people. But being a weak CEO, and beneficiary of the holiday-spirit, plush, burn-investor-funds culture he kept M&M.
Paulson's live it up style, and being oblivious in driving bottom-line, led to financial disaster, toxic investing, huge debt burden. So now shorts have Paulson and Mano and Board under their their thumb, but it doesn't seem to matter since insiders keep benefiting. Problem for them is accountability, which they've forgotten but we're going out of our way to remind them, and give them a chance to do what they're paid to do. It's a ripe turnaround story but Paulson is incompetent in that. There's an urgent need for a new CEO. Paulson is a liability in our view.
It seems that Mike Mason was fired. If so, it means the Board is alive. They should realize KPTI's problem is Paulson. Turtles can't fly.
Points Karyopharm Board of Directors needs to be aware of ahead of doing a reverse split
Points Karyopharm Board of Directors needs to be aware of ahead of doing a reverse split
Reverse Split Facts Paulson & Mano Don't Know That The Board Should Know Since It Will Be Held Accountable
Most reverse splits fail and the stock gets walked back down. The main reason for that is lack of fundamental change in factors that led to the decline of the stock originally. That will likely be the case for Karyopharm because of the serious shortcomings in the organization's structure/culture, and internal confusion whether it's a for-profit or a non-profit (acting as a non-profit, charitable foundation by e.g. making 6-figure donations while consistently booking millions in losses, and no apparently sense of responsibility, accountability and ethical obligation to the mandate of creating shareholder value which is why the Board members were hired by shareholders (MBA 101 concept that those who went to business school or even had an undergrad course in business understand) -- by wasting corporate assets in excessive and unnecessary spending, completely ignoring factors that directly impact company value, completely ignoring tips and warnings from seasons investors including medical doctors, PhDs, MBAs, JDs and even pharma industry insiders who warned the Board and Richard Paulson over 3 years ago and onward, that they were on a path of destruction of value, and recommended specific actions that were blatantly ignored (e.g. need for layoffs 18 months prior to when they happened too little too late).
Part of this lack of accountability / responsibility is the apparent feeling of complacency and being entitled to use shareholder funds because of the fact the Board is in a position of privilege and power over shareholder assets. The law requires that such position of privilege is coupled with duties, responsibilities - which seem to have been out the window in the case of Karyopharm, with an extremely passive board that has consequently endorsed the gross destruction of company assets, and several bad decisions that furthered cornered the company into the very risky current position.
Richard Paulson, Mike Mano and the Board seem to be oblivious to risks which have become issues and will be even more issues if there is no change of course.
The path from here to revenue from MF is absolutely unclear, and the CEO, CFO and Legal Counsel have no clue how to navigate it since they've never had to do this in their careers - they have no idea what turbulence are ahead between now and MF sales, and they're absolutely not prepared for it. Austerity measures are usually a way good CEOs navigate through rough times. Paulson has no clue what that means - there's so much evidence of that.
Also due to same reason - lack of experience and competence - management and the Board have chosen to ignore certain critical things like the short interest and the risk the toxic financing poses. This was finally voiced in the RSS filing regarding risk of delisting from NASDAQ.
When you ignore powers that are out to destroy you, your strategies are flawed. And those powers are drooling over the reverse split since they have confidence in the incompetence of Paulson and the Board, and confidence that the destruction of value will continue by bad deals Mano and Paulson will enter, and Lisa DiPaolo's plush "vacation club" culture that not only has not helped the value, it has directly hurt the bottom line.
The Board is being warned, again, so there is no "we didn't know" reaction to accountability. Th risks of maintaining the status quo are very real, and are well known to anybody who studies the history of reverse splits. These risks will become issues unless the Board acts, proactively (which is a foreign concept to Karyopharm's lazy, complacent, unproductive, vacation-club, irresponsible, unaccountable culture).
At the same time, some reverse splits are successful when done in combination with change of CEO. One example is ARNA which did a reverse split after change of CEO, who changed the path of the company, the culture, the cost structure, relationship to investors, etc. -- all things that Karyopharm also urgently needs which Richard Paulson is absolutely incompetent in and unable to do, given his history of value destruction.
Therefore, for the reverse split to succeed, urgent action is required to change the rotten ways this company has operated which has led to 98% destruction of KPTI value. Otherwise, it will be more of the same we've seen in the past - regardless of good data (which you also had in the past but blew it - by again, ignoring key factors that effect sales, e.g., organized professional disparagement of the drug, and the negative marketing, which Mike Mano was so incompetent in dealing with. We have the ridiculous can't-do motto well documented, which only indicates weakness, cowardice, and lack of competence.
It takes courage to shake down a rotten status quo that has destroyed 98% of shareholder value and has paralyzed the stock - which was not surprising in the "shareholders last" way Richard Paulson and the Board have operated.
Paulson doesn't want change since he's booking $1.2m/year for himself no matter what happens. So he's got plenty of excuses and empty promises as he's always had.
It is almost too late, the house is on fire. The Board needs to act now.
On a positive note, if you clean up your act, the company has the potential to be worth billions. But not under Richard Paulson. Valuation requires investment which requires trust. A CEO who splurges shareholder funds, acts so irresponsibly, careless delays after delays, bad decisions, bad deals, weak people in key roles, alienates half of the institutional investor base, causes trust issues.
Here's Bluebird chart - Paulson is on their Board. They did a reverse split without fundamental changes. And the stock is being walked down as in the majority of cases. But a stock split can be utilized positively to be a very good thing - but not by or under Paulson and Mano. They're way too weak, and their heads are somewhere else... in the sand... The Board needs to finally wake up and do something for all the money we've paid them.
New Short Interest Report Reiterates The Huge Risk That Richard Paulson & Mike Mano Have Categorically Ignored
New Short Interest Report Reiterates The Huge Risk That Richard Paulson & Mike Mano Have Categorically Ignored
Short sellers upped the anti. The speculation that short interest rose year-end to help the hedge fund books (maximize commissions) isn't the whole picture. They've upped the anti 2 weeks into the new year to the tune of 350,000 shares.
What about these warning signs does the Board not see?! For years, Paulson, Mason, Mano entirely ignored this topic, as though it doesn't exist. It feels like talking to a wall - trying to describe the taste of avocado to someone who's never eaten it. If you knew the topic, you'd know how dangerous it is, how much of a risk it is, and you'd do something to mitigate the risk. Mano and Paulson tell you that's not possible, because they're clueless about the subject which directly affects company value, share price.
Instead Paulson and Mano chose to run the company with their heads in the sand, about this, and many other subjects. The result speaks for itself. The same naive, incompetent mindset is planning the course of action, in small steps within the field of the known, habit, modus operandi, rotten status quo, and it only hopes for different results. Paulson has no experience or competence to drive the results, at best he's a guesser, who has no reservation dishing out lip service to extend his plush $1.2m/yr gig.
If you see Paulson's resume, he's never had to deal with financial hardship, running distressed companies, and surely no experience in turnaround which takes special skills, which are very very contrary to Paulson/Mano & the Board's head-in-the-sand style of mismanagement, based on illusions and hope, than reality, and as a result, their mismanagement, the runaway cost structure, the vacation club culture, the live-it-up-on-shareholder-funds rotten culture would be run very differently, with austerity measures which this gang has no clue about. Remember, they still flew to California for nothing - for just some socialization that adds zero value to the company, after destroying the stock by 98%.
Remember, after destroying the stock by 75% they still ran an ad to hire someone to manage their daily catered free lunches for all employees. Paulson know NOTHING about cost savings - we've worked with real competent CEOs who save costs and it doesn't resemble anything to Paulson's preppy, "don't touch anything that benefits me and the employees" joke of a "cost savings".
Therefore, with over 100m in revenues, they still book another 100m in losses because the "culture" has a runaway, incurable, chronic spending diarrhea, which only fresh blood, a new CEO with turnaround experience can cure, and he'd start by firing Mike Mano who's apparently totally redundant, pure unnecessary fat. We don't need two highly paid internal lawyers for this size of a company.
The consequences of not mitigating the risks are shallowly mused in PART 1 above.
The Board is responsible for this mess, and will be held accountable. It has had more than sufficient warning. Shorts are counting on this rotten status quo and incompetent CEO to continue to destroy value.
A new CEO will freak the daylight out of the shorts. Trust attracts investment. Shorts provide artificial supply, which will turn into real demand when the cause of distrust is removed.
SAGE THERAPEUTICS / BARRY GREENE
SAGE THERAPEUTICS / BARRY GREENE
Sage pulls the plug on Biogen offer. Maybe Barry Greene got influenced by shareholders including some of us who criticized the selling Sage for cheap.
https://www.fiercepharma.com/pharma/sage-sues-biogen-analyst-detects-little-interest-buyout-initial-price
One of the places Greene was criticized was in some posts on this feed: https://x.com/karyowatch
Business 101: A CEO Who Can't Create Value Is Fired
Business 101: A CEO Who Can't Create Value Is Fired
Unpredictability is a strength. The crooks can be sure there will not be anything unpredictable from KaryoFUN's plush, unproductive, lazy culture and instead Paulson will probably keep delaying the trials, keep bringing excuses for can't do's, and in most relaxed fashion b/c he doesn't seem to care about KPTI price, else it wouldn't get destroyed by 96%. The Board doesn't seem to care either. They just seem interested in collecting an undeserved salary at cost of shareholders. Numbers don't lie. If the Board cared, it would fire a non-performing CEO and Legal Counsel and save $2mm/yr right there a year. They already have a top notch lawyer. They don't need Mano.
Bring a CEO who's had his holiday already and is ready to overhaul this lazy, non-performing vacation club culture that's costing us millions to sustain. Paulson's idea of cost savings is a joke. He doesn't have a clue what austerity measures mean. We need a penny pincher CEO to run the company as a business. A corporation run like a charity goes bankrupt. That might be what the Board wants if it's corrupt: to put control of the shares in the crooks' hands. We hope that's not true. But 96% drop and keeping Paulson is suspicious. If it's not corruption, it's sheer incompetence. Paulson hasn't got what Karyopharm needs. He had 3.5 years to prove himself. He's all talk and no action: "Next stage of growth" blah blah, only growth has been his bank account. Business 101: A CEO who can't create value is fired. We're not paying Paulson over a million a year to give us excuses for his incompetence.
CANCER CAN'T CURE CANCER
CANCER CAN'T CURE CANCER
Richard Paulson and the Board don't seem to grasp the danger of a stock that is under the thumbs of toxic entities who can play it like a fiddle because of financial mismanagement and a weak CEO, CFO, Legal Counsel, enabled by a Do-Nothing Board. The just like to get paid by our money and never create value. Too little too late cost cutting doesn’t solve the rotten status quo. CANCER CAN'T CURE CANCER. Paulson who got KPTI into this hole can't rescue it; he makes it worse; history repeats itself. Turtles don’t suddenly start flying. The Board urgently needs to bring in a disruptive, courageous CEO to take this bull by the horns. Otherwise it’s bound for more disaster. A new CEO can also win back trust of quality investors, not toxins.
Paralyzed Stock Due To Mismanagement
Paralyzed Stock Due To Mismanagement
An algo has been dumping a ton of shares bit by bit. Karyopharm's passive, do-nothing Board (Barry Greene, Chen Schor, Garen Bohlin, Zhen Su, Deepa Pakianathan, Mansoor Mirza, Christy Oliger) CEO Richard Paulson, Legal Counsel Mike Mano, HR head Lisa DiPaolo and former CEO Mike Mason are a dream come true team for short sellers who just wait for this gang to blow it: burn through stockholder assets to fund their fun "culture" that benefits themselves, get the company into bad deals, financially cripple the company, etc. Even then, despite a 96% drop in KPTI stock since Richard Paulson came on board, shorts still haven't covered because they can see, like some of us. how clueless Richard Paulson is as a CEO for a company in Karyopharm's place. FIRE RICHARD PAULSON. The Board WILL be held accountable for endorsing this disastrous destruction of company value.
Richard Paulson Has Destroyed KPTI. Urgent Need For A New CEO
Richard Paulson Has Destroyed KPTI. Urgent Need For A New CEO
The top talent at KaryoFUN should know that there's no future for their stock options as long as Richard Paulson’s there. 96% drop in KPTI says it all about Paulson’s competence. The passive Board is oblivious to what’s ahead with this unsustainable cost structure and financial mess caused by this weak gang (Paulson, Mason, Mano). Paulson had 2.5 year investor facing experience as CEO before, and is weak and untalented for this challenge. He is at the core of the dysfunctional status quo which benefits insiders at our cost. Bring a new CEO and the stock will take off.
Richard Paulson Is A Liability, Agent Of Destruction For KPTI. Fire Him And The Stock Will Take Off. Competence, Track Record Count. He's Got Neither. Numbers Don't Lie.
Richard Paulson Is A Liability, Agent Of Destruction For KPTI. Fire Him And The Stock Will Take Off. Competence, Track Record Count. He's Got Neither. Numbers Don't Lie.
Arcade Mike's gone. No updated new job on LinkedIn. I still believe he was fired and not just left a $65,000 a month job in the KaryoFUN vacation club where you can also do some work if you feel like it, from home all the time - even with your dog on your lap - 4.5 day work week and double average US vacation time - you name it and you get it if you're privileged to be a part of Paulson waste-shareholder-assets club, you get daily free catered lunch. Paulson has the nerves to calls the chronic spending disease + live-it-up-on-shareholders-tab as "next stage of growth". Only thing that's growing is his bank account and that of the Board who is responsible for this mess and will be held accountable, unless it fired Mike and it'll continue draining the swamp, by firing the most useless in the crowd ... Mike Mano, Lisa DiPaolo, and last but not least, Useless Paulson who's just a liability, a drain on the bottom line. Numbers don't lie. He has not added a penny of value despite over $4m we've paid him, and has debilitated the stock, endless delays, 100k/month of salary for doing nothing of value. He thinks chit chatting with other CEOs, on our tab is work. He also makes coffee! And gets us into bad deals, debts that cost us millions a month in interest payment as he continues funding his own overseas plush trips etc. while telling us that 18 months out is "short term catalyst". Fire Paulson and the stock will rocket. Wall Street doesn't trust Paulson.
Richard Paulson is driving Karyopharm down a path of destruction as he has done for the last 3.5 years
Richard Paulson is driving Karyopharm down a path of destruction as he has done for the last 3.5 years
Expecting turtles to fly is a delusion. He’s too selfish, incompetent, arrogant, obstinate, delusional to realize or acknowledge that. He just cares about his fat, $mil+ undeserved salary+bonus, easy life vacation club “work” culture.
Zhen Su, Chen Schor, Garen Bohlin, Barry Greene, Deepa Pakianathan, Mansoor Mirza, Christy Oliger, you are responsible this mess. You’ve failed your duties and have done NOTHING of value for all the money we’ve paid you. Numbers don’t lie. You WILL be held to account. If you’re a beneficiary to this destruction of stockholder value status quo, you WILL be held to account for that too. Right action is to FIRE RICHARD PAULSON. PERFORMANCE AND COMPETENCE MATTER.
Horrible Quarterly Report Depicts Financial Disaster Due To Mismanagement
Horrible Quarterly Report Depicts Financial Disaster Due To Mismanagement
90,000 dump at the close after Richard Paulson’s disastrous report on 5 Nov 24 that showed how self-serving and out of touch Karyopharm’s Board of Directors is to endorse another year of Chronic Paulson Destruction of Value Syndrome which enriches the insiders at our cost. The solution is to Fire Paulson since he has not added a penny of value despite the $4+m we’ve paid him, and let a competent CEO overhaul this lousy, wasteful disastrous charity culture into a real business.
Richard Paulson Lacks The Competence Karyopharm Needs
Richard Paulson Lacks The Competence Karyopharm Needs
KaryoFUN’s Richard Paulson has never taken a company through the stage KPTI is at. He’s winging it incompetently, at no risk for himself since he’s paid another million+ waiting for data which he delayed multiple times, and lied or misled us about enrollment. He got us into bad deals, huge debt, 11m/qtr in interest payment, while continuing to splurge and throw away our money in a runaway cost structure because Paulson is Clueless About Driving Value. He has debilitated stock and the Board has endorsed this destruction of value and naively thinks it will magically change, because the Board is too content doing nothing for the money we pay them.
Paulson wants to defer the problem for next year, hoping data will save the day. Meanwhile he’ll get over a million dollars richer, by our money !! Not a bad deal for an incompetent rookie CEO with 2.5 year experience prior to KPTI as investor facing CEO of a public company.
But next year may never come for shareholders at this rate of destruction. And maybe that’s what the Board wants if it’s corrupt. Regardless, it WILL be held accountable. FIRE RICHARD PAULSON AND THE STOCK WILL GO TO $5 INSTANTLY.
Richard Paulson Lied Again
Richard Paulson Lied Again
“Several significant milestones are approaching for Karyopharm in the near future.” [Not to mention I will delay everything because I am so incompetent and unmotivated as long as I get my fat, undeserved salary, bonus, perks, free lunches, carte blanche to burn as much cash as I want because the Board is so useless and I know that because I was on the Board!]
What several things in the above is “in the near future”?! Paulson’s just buying himself and the Board time to gain more from our cash while living it up at KaryoFUN vacation club. He even gives away tons of our money to charity while paying $11m/qtr in interest due to financial mismanagement! FIRE THIS INCOMPETENT CEO WHO HAS NO CLUE HOW TO BUILD VALUE (except insiders) OR WE WILL THEIR THEIR EASY MONEY BOARD MEMBERSHIP CAREER WITH A LAWSUIT.
Firing The Incompetent CEO Richard Paulson Who Has Destroyed Karyopharm’s Value Will Be The Biggest Catalyst for KPTI
Firing The Incompetent CEO Richard Paulson Who Has Destroyed Karyopharm’s Value Will Be The Biggest Catalyst for KPTI
We just don't see how a CEO who has incompetently gotten Karyopharm into this dangerous financial mess can turn the company around.
Turtles Can't Fly
Turtles Can't Fly
Richard Paulson had < 2.5 years experience prior to KPTI as a full CEO. That stock tanked 30% on his watch b/c he seems incompetent in driving value as CEO for a publicly traded company where he is accountable to shareholders, has to deal with WS sharks who run circles around him and his weak Legal Counsel and weak CFO. Shorts adore this clueless gang for destroying KPTI.
It seems he can’t grasp that KPTI is not a charity. Just the wrong guy for the job. Turtles can't fly. He hasn't added any value to KPTI despite the Board paying him over $1m of our money /yr.
He bragged about happy employees at a prior job as a sign of success. He doesn’t get it that bottom line is what counts in business! KaryoFUN has happy employees because they’re splurging our wealth, and that includes Paulson and the Board who are living it up with undeserved salary and bonus while they've destroyed company worth. Stay tuned...
Richard Paulson Is A Liability
Richard Paulson Is A Liability
Richard Paulson recently gave away $25k of our money due to KaryoFUN’s chronic spending diarrhea, while bleeding cash due to his mismanagement. Takeda (MC $44b) donated $5k to the same event! Paulson has destroyed KPTI, lied, wasted assets, got us in bad deals, while enriching insiders. We’ve paid him $4mm+ and got delays, excuses, a debilitated stock, alienated investors. FIRE RICHARD PAULSON NOW and the stock will take off. He’s a liability, not needed, not wanted.
Further Proof of Richard Paulson Being a Horrible CEO
Further Proof of Richard Paulson Being a Horrible CEO
KaryoFUN Board has been paying Richard Paulsons about $100k/month while he has destroyed KPTI by 96% because he’s a horrible, weak, incompetent CEO. Recently he posted “I dedicate significant time engaging with like-minded individuals” blah blah instead of driving the bottom line. FIRE RICHARD PAULSON and he can do his networking on his own time not on our tab, because he has NO CLUE how to drive company value. Numbers don’t lie! Competence Matters!
RICHARD PAULSON: UNWANTED -- AND HAS NO CLUE WHAT COST SAVINGS MEAN
RICHARD PAULSON: UNWANTED -- AND HAS NO CLUE WHAT COST SAVINGS MEAN
Hey Barry Greene / Board members who are getting paid a ton of money for doing nothing of value for Karyopharm for years except to destroy value. Numbers don’t lie.
Richard Paulson has no clue what cost cutting means: Hiring freeze, salary freeze, travel freeze, cancelled daily free lunches, cancelled 5 and 6 figure donations, overhauling the KaryoFUN year-round-vacation “culture”, interns, volunteers, endless events, all that add ZERO to value and suck bottom line. You can do those things when you show a profit which won’t happen if Paulson is around.
Bring in a new CEO who’s not full of excuses, delays, can’t do’s, who doesn’t lie, who can build value. Richard’s too incompetent to build value. He’s destroyed KPTI. Sohanya or Reshma can be interim CEO. Fire Richard Paulson. We don’t trust him, don’t want him, he’s been a total disgrace to shareholders.
We Don't Trust Richard Paulson Who Is Costing Us A Lot And Has Never Added Value To Karyopharm.
We Don't Trust Richard Paulson Who Is Costing Us A Lot And Has Never Added Value To Karyopharm.
We were so happy that Richard Paulson was not on the call yesterday and Reshma whom we really like started the call very professionally and Richard was absolutely not necessary at the end, and it was unprofessional to barge in like that, especially a creepy looking guy like that, barging in as a new voice only at the end of the call, just to say "I AM" - a sad reminder to investors of a CEO who has destroyed their assets by creepy mismanagement. Fact is Reshma can do Richard's job perfectly well. Richard is not even needed, and has added no value to the company despite 4mm+ we've paid him, and to the contrary, hsd destroyed KPTI value by mismanagement, weak people in key roles, chronic spending, even giving away our money while booking millions in losses and interest payments, lying about enrollments, endless delays, endless excuses, a vacation club culture, no accountability, alienating shareholders,
The Board (Barry Greene, Chen Schor, Garen Bohlin, Deepa Pakianathan, Mansoor Mirza, Christy Oliger, Zhen Su) has gotten itself richer and richer by paying themselves and Richard and weak players like Mike Mano, from our money, that they were hired to build value with, and not splurge it in a live-it-up, max-leisure, max-benefits for everyone except us. They Board has forgotten they're accountable to us, and have acted as though they won the lottery to just spend away, get a paycheck for doing nothing of value, and when money runs out, dilute, get us deeper into debt, make love to toxic sharks, pay millions in interest, and still, pay out, donate, give away 6-figure donations - even tens of thousands while much bigger pharmas that are hugely profitable give away a fraction of that to the same charity.
This is beyond mismanagement. These Board members should not be on any Board of any public company in our view, if they can't clean up this mess they've created and turn this ship around, which is impossible as long as Paulson is there, in our opinion. The stock will take off when Richard Paulson is fired.
Pictured: Richard Paulson, Mike Mano, Lisa DiPaolo, Mike Mason Should Be Fired
Pictured: Richard Paulson, Mike Mano, Lisa DiPaolo, Mike Mason Should Be Fired
In our opinion: These people should be fired; One down (Mason is out already or latest 11/5); Three to go; Firing Paulson is priority; A new CEO will overhaul this wasteful charity “fun club” and transform it into a real business, and will bring a strong Legal Counsel who can think outside the box, and a HR lead who’s focused on maximizing productivity at minimum cost instead of maximizing the fun at shareholder cost. Paulson’s report card: 96% drop in the stock as he serves everyone daily catered lunches, and donates away our money, and splurges like there’s no tomorrow. Paulson and Mason have been the utmost disaster duo in wasting shareholder assets and runaway cost structure, tons of cross country flights that are not necessary; tons of events, outings, volunteering, internships, giveaways, plush, extreme benefits, work from anywhere all the time, like Club Med, 4.5 day work week, year-end paid leave, more vacation than 99% of American companies, etc. etc., all at the cost of shareholders. As though the great American economic engine wouldn’t turn if companies didn’t splurge like these losers of our money do. The Board and Paulson have been clueless, incompetent, or have had an ulterior agenda to destroy the current shareholder for the benefit of some other entity, while living it up and getting richer and richer by our money. The Board will be held accountable if the current nightmare continues. The stock will take off the day Paulson is fired.
KaryoFun's Anti-Investor Culture & Board That Has Forgotten Its Duties
KaryoFun's Anti-Investor Culture & Board That Has Forgotten Its Duties
This incompetent Karyopharm Board and CEO haven't been able to drive value. Best they've done is to be a play toy for hedge funds and swing traders. They can't capitalize on good news in any consistent way. Look at KPTI chart in the last 4 years. That's because of a sick culture perpetuated by a weak Board and a horrible CEO who is paid millions, who have consistently destroyed company value, and don't seem to have any sense of duty or accountability.
They're too caught in a paradigm of wastage of assets, getting into bad deals because their negotiating team (CEO, CFO, Legal Counsel) apparently can't see beyond the end of their nose, milking shareholders to support a wasteful "live it up" culture, getting the company in huge debt and paying tons of interest, engaged to toxic sharks, and some business partnerships that isn't contributing to bottom line and even if it is, it makes no difference to value because the cost structure is so big, and the wasteful culture is so strong as they can't seem to control their chronic spending, and even give away our money like they're a non-profit foundation with assets to give away - instead of paying down debt. Totally incompetent way of running a "business".
Two Pharmas with billions in annual profits donated less money to a cancer charity than KaryoFun's chronic spending diarrhea. They could have paid that money to pay down the debt. It's like having a huge credit card debt, and still splurging like there's no tomorrow because you think your rich daddy (shareholders in this case) will foot the bill. This entire paradigm needs to be reset, overhauled, and it can't be done as long as Richard Paulson is running the show. Or the whole Board should get convicted and fined and fired if they continue endorsing and empowering such destruction of stockholder assets and company value. The stock will take off the day Paulson is fired.
KaryoFun Chronic Wasteful Culture Donated Another $25,000 Of Our Money While Takeda and GSK Who have billions in profits donated $5k and $15k respectively.
KaryoFun Chronic Wasteful Culture Donated Another $25,000 Of Our Money While Takeda and GSK Who have billions in profits donated $5k and $15k respectively.
KaryoFun gave away at least $25,000 of stockholder assets to CR&T as a charitable donation to be a Gold sponsor, which absolutely adds nothing to the bottom line short, mid or long term. Richard Paulson and the Board of Directors have proven to be incompetent in driving value, despite any positive developments such as approvals or revenue growth, because the outlay, the leakage, the wastage is so big, so chronic, that no matter how much money they make they will waste it, lose it, give it away, and never never return anything to shareholders, if judged by their past.
Compare the latest wastage of our money to Takeda and GSK. Takeda donated $5000 as a Bronze sponsor. Takeda makes 2 Billion a year in profits. GSK donated $15,000 as a Silver sponsor. GSK makes 1.2 Billion a year in profits. KaryoFun donated $25,000 as a Gold sponsor. Karyopharm has always had losses and is losing over 100 million a year of shareholder money, and the stock has tanked 96% since horrific CEO Richard Paulson came on board, and the Board of Directors has totally let the shareholders down by failing its duties, and enabling such destruction of stockholder assets and company value.
We want to make sure the Board has plenty of opportunity to know, so it can't say "we didn't know" when it's time for accountability. One of the consequences of a verdict against the Board means nobody will want to hire them as Board members any more. Easy money for doing nothing of value (as has been the case at Karyopharm).
When the house is on fire you don't wait around. The Board needs to act urgently to fire Richard Paulson, and bring a no-nonsense bottom-line focused CEO who can overhaul this chronically wasteful culture that has betrayed investor trust by delay after delay and irresponsible wastage of our assets, and get rid of weak, overpaid players like Mike Mano, and Lisa DiPaolo who seems to be at the heart of this wasteful culture. This is not Wild West, the Board WILL be held accountable. Clock is ticking. Get rid of Richard Paulson, get serious about driving the bottom line, and the stock will take off.
KaryoFun's Inept, Passive Board has Endorsed and Empowered Destruction of KPTI by the Inept (or Wicked), Wasteful Richard Paulson.
KaryoFun's Inept, Passive Board has Endorsed and Empowered Destruction of KPTI by the Inept (or Wicked), Wasteful Richard Paulson.
The Board Will Be Held To Account. Firing Paulson is the quickest way to address the issue. The stock will take off to fair value, if this dark cloud is lifted and investors get confidence that the Board and management are fighting for the stockholders not for the benefit of the insiders while apparently disregarding shareholder interest and destroying the stock as they have done. Since Paulson joined KPTI has dropped 96%. Any decent Board would fire that person immediately, and not keep paying him millions to continue the same destruction.
Inept Board: Deepa Pakianathan, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su Have Destroyed KPTI
Inept Board: Deepa Pakianathan, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su Have Destroyed KPTI
The Board will be held to account. Fire the CEO and the stock will take off.
Thanks to Richard Paulson, Mike Mason, Mike Mano: Gang who can't shoot straight, endorsed by an inept Board of Directors, KPTI has been destroyed.
Fire Richard Paulson and the stock will take off. Break the curse.
Bad Deals That An Incompetent CEO, CFO, Legal Counsel Make To Sustain The Mismanaged KaryoFun, Which Will Be $10/share If The CEO Is Fired
Bad Deals That An Incompetent CEO, CFO, Legal Counsel Make To Sustain The Mismanaged KaryoFun, Which Will Be $10/share If The CEO Is Fired
Richard Paulson, Mike Mason, Mike Mano are a dream team of incompetent "leaders" a toxic hedge fund wants sitting across the table. They've proven to be incompetent in driving value, and have proven to be experts in destroying worth: chronic spending disease to sustain the "fun club" that benefits the insiders at the cost of us. They seem incompetent and clueless about driving the bottom line, else they wouldn't, e.g., give 6-figure donations, and all the wastage of company assets, that show they have no sense of responsibility or conception of what drives bottom line and stockholder value.
I asked Mike Mano if they even bothered asking the prospective "investors" they met if they were holding a short position. The answer shocked me. In summary, no, because it seems that our gang that can't shoot straight, can't think outside of the box, is too timid, is easily manipulated, is too chicken to ask big questions. Even if the hedge fund wouldn't answer, a sharp executive can read their body language. Not our gang who seem focused on raising money at any cost, to sustain their splurging, wasteful culture. The trio get over $2.5mm/yr, while they've destroyed KPTI. The Board seems just as incompetent and has totally failed its duties that it's paid to do, by empowering this destruction of value. New cases: Paulson just donated $50,000 of our money! And more news of toxic financing.
The Board is too complacent, passive. But THE BOARD WILL BE HELD ACCOUNTABLE!
CEO Richard Paulson Is The Destroyer Of Karyopharm. KPTI Tanked 96% On His Watch.
CEO Richard Paulson Is The Destroyer Of Karyopharm. KPTI Tanked 96% On His Watch.
Incompetence. Chronic Spending. Wicked Agenda?
Destroyer Of Karyopharm Assets, Richard Paulson, Just Donated 10's of 1000's Of Our Money, Again!
Destroyer Of Karyopharm Assets, Richard Paulson, Just Donated 10's of 1000's Of Our Money, Again!
Karyopharm is named as a Gold Sponsor of an MPN Symposium. Note that highly profitable giants donated less money than the money losing Karyofun "vacation club" that benefits the insiders, charities, and everyone else, at the expense of shareholders. Such a donation only hurts the bottom line, period. That's a part of the company's sick culture which they so pride themselves of: that has chronic spending cancer, no accountability, no driving the bottom line, endless splurging despite massive losses - which puts the agenda and intentions of the Board and CEO at question; who have destroying 96% of the value, while they've paid themselves large amounts, spent lavishly, wasted our resources, and even given away large amounts while bleeding cash, and then incompetently getting us into bad financial deals, debt, dilution, to support that dysfunctional spending culture.
Note that very profitable TAKEDA is at Bronze level, GSK is at Silver level, etc.. It's because these profitable companies have financial discipline, and count every penny, unlike Karyofun's sick culture that has spending diarrhea woven into its fabrics. Therefore, we urgently need a new CEO to overhaul it, and cure the corporate cancer. With the existing revenue stream, and overhauled culture, and significant cost cutting, the stock will take off. Paulson says can't do, because he's too incompetent to think outside the box, outside the cancerous paradigm of this wasteful culture, and he benefits from the splurging "vacation club" with expensive trips, daily catered lunches, fun events, outings, 4.5 day work week, double average US vacation time, work from anywhere, a fat undeserved salary and bonus (we've paid the guy over $4mm while he's destroyed our assets), and so on -- all funded by shareholders whom he has betrayed time and again, and just handed us lip service, excuses after excuse, delay after delay, loss after loss, and shot the company's credibility in the eyes of Wall Street. Numbers don't lie. Fire Richard Paulson Now!
Gold level sponsorship is typically minimum $50,000. This horrific Board and management have no shame burning our money while destroying company value. They've even done platinum sponsorships which are typically minimum $100,000 while the stock tanked over 70%. Now it's down 96% and they're still giving away our money. Their excuse that it somehow helps their business has never materialized. Nothing has helped their business because of the extreme outflow, and competence issues. No matter how much money you pour in, when the bucket has a big hole, it goes out. And they don't give a damn it seems. They've forgotten why they were hired. The Board is responsible for this and will be held accountable. Replace this horrible CEO, bring in a turnaround CEO to overhaul this joint, and the stock will take off. It's clear as day to some of us.
INVESTORS DO NOT TRUST RICHARD PAULSON
INVESTORS DO NOT TRUST RICHARD PAULSON
One of the biggest mistakes in life is to assume people will change. Richard Paulson has had 3.5 years, plus his time as a Director. 96% drop in stock price speaks volumes about his abilities and professional values (e.g. being clueless about driving bottom line - if he weren’t he wouldn’t splurge like he has, including giving our money away and endless perks and fun for insiders. People rarely change. The Board needs to fire Paulson. A new CEO or even an interim CEO can regain trust of investors, and the stock will take off.
95,000 block sale today. Another sign of lack of confidence in Richard Paulson & His Gang That Can’t Shoot Straight. Fire Richard Paulson and the stock will take off. Competence, performance, track record count.
Mike Mason Seems To Be Gone (Earlier than Nov 5)
Mike Mason Seems To Be Gone (Earlier than Nov 5)
It seems that Karyopharm's horrible CFO Mike Mason is out earlier than November 5 which was marked as his last day. His email bounces ! He's not in the corporate directory ! Good news ! I'm assuming they paid him off and got him out sooner ! If in fact he was fired, this is a very good sign that there is life in the Board and it's not just dead wood as it appears. Richard Paulson should be next.
Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su, Deepa Pakianathan, Chen Schor
Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su, Deepa Pakianathan, Chen Schor
Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su, Deepa Pakianathan, Chen Schor, if you’re getting your legal advice from Mike Mano, think again. He’s weak in our opinion, and has been a major contributing factor to destruction of KPTI. If we take you to court we will win, and you may never be able to get a Directorship job again, paying you 6 figures for attending a few meetings and like at Karyofun, doing nothing of value, easy life, just collect a paycheck, and even bonus, while you destroy our assets and company value. Act or be held accountable.
Destruction Of The Share Price Since Richard Paulson joined Karyofun Paid Vacation Club / Charity That Pretends To Be A Business, Funded By Shareholders
Destruction Of The Share Price Since Richard Paulson joined Karyofun Paid Vacation Club / Charity That Pretends To Be A Business, Funded By Shareholders
Destruction of the share price since Richard Paulson joined Karyopharm despite a life-saving cancer-curing medicine. It's time to fire Richard Paulson and break the spell. The stock will take off on that news.
History Of Dysfunctional Culture
History Of Dysfunctional Culture
Chronic spending diarrhea culture, burning through shareholder funds, goes way back to horrible CEO Mike Kauffman days (great doctor and scientist but miserable CEO for Karyopharm and he never ran a company successfully before then - the only other company he ran as CEO went bankrupt). And horrible CEOs bring in people who are worse than themselves, so Mike hired two other Mikes: Mason and Mano. Richard Paulson is heaps worse than Kauffman as a CEO. After having spent hundreds of millions of dollars of shareholder money, the company deserves a competent, effective, turnaround CEO to cure this spending disease, build an ace team (in addition to Sohanya and Reshma who are superstars), streamline and right-size the operation, save a ton of money, and the stock will take off.
Q. What did KaryoFun horrible CEO Richard Paulson do this week for the ~$25,000 the Board paid him by our money?
A. Probably the same thing he did every week for the past 3.5 years: NOTHING that added value to the corporation (measured in $s) and we’ve paid this ineffective, horrible “leader” over $4mm while he’s destroyed our wealth by his mismanagement. Same with our weak Legal Counsel Mike Mano who makes about $65k a month despite horrible performance. Results talk. Fire Paulson and Mano and the stock will take off to big $$$s.
Paradise for insiders; Hell for shareholders who are paying the insiders' salaries!
Paradise for insiders; Hell for shareholders who are paying the insiders' salaries!
Karyofun is a dream come true culture for the insiders, and a hell come true for shareholders who have been footing the bill for the irresponsible, incompetent Board which has allowed for some irresponsible, incompetent executives to run the company to the ground, by their incompetence, and irresponsible spending. This sick culture has continued for too long, and it's congealed in Paulson and Board's minds as a given to burn through our cash, and never feel accountable, feel entitled to endless cash to sustain the fun culture called "work", Richard Paulson’s plush trips and work in pajamas from wherever you want, etc. No checks and balances it seems since the Board seems hands-off and doesn't care a bit what happens. A house without an owner. The problem for the Board is that it is responsible for this mess and destruction of our assets. Life doesn't work any other way. You get paid and held accountable.
Competent Boards and Executives understand that things like “team building” events have an ultimate goal of contributing to bottom line, since better teams are more productive. Of course taking care of employees is important and corporate America has done it for a long time without turning the company into a party-hardy joke of a business where having fun, and chronically splurging at every occasion, and even giving away money while the company loses money becomes an end in itself. Richard Paulson doesn’t seem to grasp that. The last 3 years proves how clueless he is about running a business. Too busy having fun, or working at home in his pajamas while getting over a million dollars of our money year after year as he destroys our assets and company value.
Fire Paulson and the stock will take off. Karyofun is considered a joke of a company. Serious CEOs don't burn through millions unnecessarily, and give lip service that they're saving cost. Paulson is too caught in this fun luxurious splurging to implement serious cost savings even if he supposedly means what that means (we doubt that, looking at his background).
Wall Street doesn't take us seriously because the lazy, splurging, irresponsible, complacent, entitled Paulson/Mano/DiPaolo culture can't manage to simply perform. It constantly has delays, over promise and under delivers, which is shooting the stock in the forehead, but Paulson may not care if he has an ulterior motive, or the motive to prolong his lucrative gig. It smells, no matter how you look at it: incompetence, laziness, self-serving, wicked agenda, or a combination of the above. Either way, he needs to go.
A turtle who's proven it can't fly is not going to fly. The Board who expects Paulson to suddenly transform and run Karyofun like a business is in delusion, and itself complacent, ineffective, and profiting from the status quo which is a disaster for shareholders who hired and pay the Board's undeserved salary to drive value for shareholders, and not everyone, except shareholders.
The Board will be held accountable, if this leadership nightmare doesn't quickly change. Timing is of the essence. When the house is on fire you don't take your time. If we have no choice but to take legal action, that will be the kiss of death for the easy lucrative directorship jobs for the Board members, because corporations that hire Board members expect the Board to do drive value and not like at Karyofun just collect a salary and in effect do nothing of value and endorse incompetent destruction of value.
CEOs who waste shareholder assets get fired. Simple as that. Fire Richard Paulson And KPTI Will Take Off.
Dysfunctional Culture Has One Solution: Firing of DiPaolo, Mano, Paulson, Mason (who's outgoing)
Dysfunctional Culture Has One Solution: Firing of DiPaolo, Mano, Paulson, Mason (who's outgoing)
Head of HR with all her fancy titles, Lisa DiPaolo, has been a disaster for Karyofun. The stock has gone down 85% since she joined us. So all her great ideas for bolstering employee morale, team work, etc., by burning a ton of cash funded by shareholders, and winning prizes for the best work environment, has been a total blunder because it failed short of achieving the goal for the ideal culture: productivity, driving bottom line, building value for the corporation. They’ve forgotten that because they’re too busy having fun and making sure they maximize their fun at our cost (it seems). Fire this lousy, wasteful HR head and Richard Paulson and Mike Mano and the stock will take off.
Is Richard Paulson Just Incompetent In Running A Business Or Is He Playing The Fool Due To An Ulterior Motive?
Is Richard Paulson Just Incompetent In Running A Business Or Is He Playing The Fool Due To An Ulterior Motive?
Either way, Richard Paulson needs to be fired. Performance counts. Since he joined "KaryoFun", the stock has lost 96% (and the Board gave him about $1.2m a year). Prudent Boards do not tolerate that kind of performance whatever the excuse and however profitable for themselves and their easy lives of collecting a check and doing nothing of value for it. Value is measured in dollars, and the Board and Richard Paulson, Mike Mason, Mike Mano, Lisa DiPaolo have killed KPTI value, and it's not because of the product, the life saving science. It's because of horrible, irresponsible, incompetent mismanagement of stockholder assets. It is absolutely prudent for the Board to fire Richard Paulson, and begin a quick overhaul of the dysfunctional "culture" that only benefits insiders. If the status quo continues, every member of the Board will be held accountable. That's Deepa Pakianathan, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su
KaryoFun Board of Directors Must Act To Stop Richard Paulson From Continued Destruction Of Company Value
KaryoFun Board of Directors Must Act To Stop Richard Paulson From Continued Destruction Of Company Value
Turtles can't fly. Since Richard Paulson joined KaryoFun the stock has lost 96% of its value, while he has spent our money like water (spending diarrhea); has horribly weak people in key roles; got us into bad deal; diluted like hell; got us into a lot of debt;
Weakness and incompetence or ulterior motives? Whatever the hell it is, enough is enough, and the Board will be held accountable, because it is responsible for this nightmare, year after year or value destruction, delays after delays, horrible performance, no accountability, irresponsible splurging, living it up with our money at the KaryoFun charity club called "business" that benefits everyone except us who are funding it. The Board has forgotten its charter and agenda, and totally failed its duties that it was hired and is paid to perform. It even gives away large sums of our money despite losing millions.
How can you expect a "leader" who's debilitated the company and got us in this hole due to incompetence or creepy agenda (we do not trust Richard Paulson), to suddenly turn this around. Competence and experience count. This is a super easy case for a turnaround CEO to rescue, and the stock will take off. First have to get rid of the pillars of this rotten, dysfunctional status quo by firing Paulson and Mano and DiPaolo, and fast-track Mason's exit.
KPTI should be over $5 right now
KPTI should be over $5 right now
KPTI should be over $5 right now, and will get there quickly if the Board fires Richard Paulson. Competence and performance matter!
Short interest at 3 month high, are counting on erosion of value by Paulson spending diarrhea on his Karyofun vacation culture club / charity called “business”, funded by us shareholders. Despite their lousy performance and weaknesses Richard Paulson, Mike Mano are paid huge sums of our money. Board urgently needs to act or be held accountable.
The most important next catalyst for KPTI is firing of CEO Richard Paulson.
The most important next catalyst for KPTI is firing of CEO Richard Paulson.
We need a new CEO who shows up to the office every day, who understands how to run a business, drives the bottom-line, creates value, brutally cuts costs, fires Mike Mano and get a sharp legal counsel who can think outside the box and comes to the office every day. And fire Lisa DiPaolo and overhaul and right-size the fun, entitled vacation club; get people to work onsite, increase productivity. This will rebuild reputation with Wall Street that was lost due to slaughtering of value, wasteful culture, endless delays, horrible performance. And the stock will take off. Sohanya Cheng could serve as an interim CEO.
Shorts are counting on the inept management and Board
Shorts are counting on the inept management and Board
Shorts are counting on the inept management and Board to continue destroying KaryoFun. A new CEO who understand driving bottom-line - who has the guts to uproot this wasteful, dysfunctional, rotten status quo which has destroyed 96% of KPTI price while enriching the insiders - will make the shorts freak, and force them to quit and even go long and the stock will quickly take off to $5+. A new serious, competent CEO will rattle the shorts’ thesis which is formed on the incompetence of Paulson/Mason/Mano in driving value. But as long as this soft, weak, complacent, lazy, unproductive, wasteful vacation club culture is in effect, it keeps burning cash and value with it. Thus, an urgent need for a new turnaround CEO.
Mental Health From Too Much Fun At Karyofun?
Mental Health From Too Much Fun At Karyofun?
KARYOFUN (KARYOPHARM) posted in celebration of the Mental Health Day (there’s no occasion they don’t celebrate) about providing employees at the fun vacation club “resources to support their mental health”. Why do you hire people with mental health to begin with? If they were clear before joining Karyofun, maybe the mental health issues is due to having too much fun. Too many events, celebrations, outings, work-from-anywhere, double vacation time, paid leave for year end and volunteering, free lunches, work 4.5 days a week (1 hour a day extra is irrelevant when you have dog on your laptop as advertised by the Fun Club, paid and supported by us shareholders because Richard Paulson’s empire feels entitled to burn our funds, while it has a lot of fun, and while the stock gets destroyed by mismanagement, and endless delays, and over-promise and under-deliver, and no accountability to shareholders. Despite that people still get mental health issues there! From having too much fun?
There Is No Reason For Richard Paulson To Travel To Ireland Next Week. Superstar Dr. Rangwala Can Handle It
There Is No Reason For Richard Paulson To Travel To Ireland Next Week. Superstar Dr. Rangwala Can Handle It
Richard Paulson has been living it up together with the privileged, entitled, complacent gang at Karyopharm who feel entitled to endlessly burning shareholder assets. There's always an excuse to party, have an event, stay home, volunteer, donate, give give and always take take from shareholders, and never give back. If Paulson had any comprehension or concern about bottom-line, about company value, he would put in some serious cost cutting measures, like travel freeze, salary freeze, cancel the free daily catered lunches, cancel donation time, cancel charity donations, cancel internship program, cancel endless giveaways, events, and outings, and plush, wasteful, unnecessary travel. Great CEOs even cancel trade show attendance to save money. Not at Karyo-Vacation-Club.
Our Superstar and hero, Dr. Reshma Rangwala is perfectly fit to handle the IGCS meeting next week. Paulson absolutely adds nothing. He never has, in any of the meeting we've sent him on for a ton of money, except to remind investors what a horrible CEO he has been by spending and destroying our assets. In fact, Dr. Rangwala is perfectly fit to do everything Richard is doing and even better and take over as CEO or interim CEO. Firing Richard will immediately add to the bottom line. The $1.2+ million/yr he's paid+bonus can be saved immediately. Cancel your trip Richard, and R-E-S-I-G-N. You've made more than enough off us shareholders. Time to leave, or get fired, or the Board will have some explaining to do. The stock will take off the day Paulson is ousted. Performance matters. Competence Matters.
Paulson's Fishy Charter
Paulson's Fishy Charter
Richard Paulson came from pharma. Was his charter to run KPTI to the ground so another entity buys this life-saving, cancer-curing science for pennies on the dollar? Is that why he didn’t get rid of weak people like Mike Mason and Mike Mano, and burned through company’s cash like wildfire, continued to dilute, got us in bad debt deal, alienated many investors and killed the stock? Or is all of that just coincidence or just incompetence? Paulson has been a curse (see the chart above) - when lifted, KPTI will soar to above $10+. If the Board doesn't act it will be held accountable legally such that it will end their Board career everywhere. The house is on fire. Act for the money we're paying you. Years of easy lazy life is enough.
Richard Paulson Was Paid Another ~$5,000 Of Our Money Today, As He Is Everyday, For Having Killed The Stock By 96%
Richard Paulson Was Paid Another ~$5,000 Of Our Money Today, As He Is Everyday, For Having Killed The Stock By 96%
Karyopharm's Board (Deepa Pakianathan, Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su) has paid Richard Paulson over $4.5m of our money while he's killed our stock / company value. The Board needs to wake up and do something about this horrible CEO. Giving him another 2 years to further destroy the stock (intentionally or out of incompetence) with the excuse of "waiting for data" does not cut it, given his history at Karyopharm. Competence matters. Paulson has proven to be incompetent in driving bottom line as evidenced by this miserably wasteful corporate "culture" (fun science lab / holiday club) which is a disgrace for our shareholders: our funds are used for sustaining this nightmare of a fun vacation club that benefits insiders at our cost, and continues to bite the hand that's feeding them.
This disgraceful disaster needs to be overhauled, and surely Paulson can't do it because he is at the center of it, and he is responsible for it, along with every single Board member who will be held accountable if this nightmare doesn't change soon. The company needs new leadership. You have some great people already - just get rid of the horrible ones. With a new CEO, and clean up of this mismanagement, the stock will take off to $10+.
$10 Fair Value in hands of a competent CEO/CFO/LC and responsible Board
$10 Fair Value in hands of a competent CEO/CFO/LC and responsible Board
KPTI is a ripe turnaround story in the hands of a new CEO, CFO, Legal Counsel who are not as weak as a kitten like Paulson/Mason/Mano. The irresponsible, lazy, do-nothing overpaid Board let these weak cats ruin the company for too long. It's time it starts doing something for the tons of money we're paying them, or be so held accountable that nobody will give them a Board job any more. Investors will cheer these losers being replaced by a competent serious CEO, CFO, LC who understand running a business instead of this charity which mainly benefits the insiders. KPTI fair value is $10 if it weren’t for these losers sucking our blood (assets).
Horrible CFO Mike Mason's Days Are Numbered
Horrible CFO Mike Mason's Days Are Numbered
26 Days Till We’re Rid Of The Lousy CFO Mike Mason Who Ran The Company To The Ground Despite A Life-Saving Medicine. Hopefully Richard Paulson Will Follow Mason Out The Door. Then The Stock Will Take Off. Competence Matters.
Paulson Doesn't Give A Damn About The Share Price
Paulson Doesn't Give A Damn About The Share Price
Don’t get fooled by how many beneficiary shares Richard Paulson has. As a horrible CEO he doesn’t give a damn about the share price as long as he gets his 1.2million+ undeserved salary+bonus. If he cared, he wouldn’t waste stockholder assets in the dysfunctional culture and its runaway cost structure based on idea that shareholders will support the lavish, lazy, unproductive, holiday lifestyle endlessly. They even give away our money in 6-figure donations while burning millions - just one of many signs of this cancerous culture they’re so proud of.
The self-serving, useless, overpaid Board has endorsed, enabled, empowered this incompetent, irresponsible destruction of stockholder value. They’ve forgotten their charter. We pay them to drive value for us not to burn our money and betray us: KPTI down 96% on Paulson’s watch.
KPTI urgently needs a new turnaround CEO to overhaul this cancerous culture, gain investor respect, drive value - and the stock will take off.
Richard Paulson was paid another ~$25,000 this week
Richard Paulson was paid another ~$25,000 this week
Richard Paulson was paid another ~$25,000 this week despite having destroyed 96% of Karyopharm’s stock value by irresponsible, incompetent mismanagement of our assets, and wasting millions of our money on a lavish holiday club style “culture” that just enriches the insiders and the useless, irresponsible Board of Directors who have enabled and endorsed this mismanagement, and are getting richer and richer by paying themselves big bucks from our money, while not doing their job. This scandal has to stop. The Board will be held accountable. A new competent CEO can cut expenses by ~$30m a quarter and the stock will go to double-digits.
Urgent Need For New Leadership To Transform This Fun Vacation Club Into A Real Business That Creates Value For The Company And Gains Wall Street Trust
Urgent Need For New Leadership To Transform This Fun Vacation Club Into A Real Business That Creates Value For The Company And Gains Wall Street Trust
Karyopharm has been a disgrace to investors. Instead of creating value, it has just made the Board and the extremely weak CEO, CFO, Legal Counsel, etc. richer and richer. The company urgently needs a real businessman CEO with a mandate to radically cut costs and surgically reset the dysfunctional corporate culture. Paulson can’t do it because he’s too weak, and too caught in the rotten status quo of splurging as modus operandi.
This dysfunctional culture runs deep. Some serious surgery is required, e.g. in terms of employee productivity. As a professional expert in building and running teams, I’m confident Karyopharm can get a ton more productivity out of existing people (thus needing far fewer people) with a paradigm shift.
Also, the current regime has too rotten of a history in terms of credibility and trust with Wall Street. 5 delays on 1 trial. A nasty track record of over promising and under delivering. Endless excuses. Spending diarrhea. Destruction of the share price. Lack of trust is a show stopper. A new CEO is urgently needed for that reason as well.
Paulson creeps me out. I don’t trust he doesn’t have a hidden agenda, and if so, it surely would not to benefit shareholders. I do NOT trust the guy. He’s taken his test and failed. It’s time to turn the page. Dump Trump and Dump Paulson. New chapter for our great country and for our great company. A new CEO can quickly make the stock go to $5 and up from there. I’ve worked with such great CEOs before, and surely Paulson isn’t at that caliber – he’s at the caliber of Mike Mason and Mike Mano. That’s why he kept them, and the result of their work speaks for itself. Almost 95% drop in the stock since Paulson started his stock destroying regime.
The Board is ultimately responsible for this nightmare, and WILL be held accountable.
Toxic Mix Of Irresponsible Spending, Arrogance, Incompetence
Toxic Mix Of Irresponsible Spending, Arrogance, Incompetence
Karyopharm is stuck in a sick, complacent, dysfunctional paradigm of feeling privileged and entitled to waste assets with no regard for the bottom line, which has left the company in a big financial mess because of Richard Paulson, Mike Mason, Mike Mano, Board’s mismanagement of assets, contracts, IP, reputation, etc. with the consequence of screwing stockholders by entering bad deals, diluting like hell, huge debt burden, etc. A toxic mix of incompetent management and a splurging, wasteful “culture”. When Paulson says “cost savings” he means: let the fun vacation club’s splurging continue... endless benefits for everyone in the vacation club where work is just to support your fun. So much money is wasted on unnecessary travel and perks and splurging because of the dysfunctional, entitled paradigm, and being incompetent in driving value. Richard Paulson is the problem so he can’t solve it.
A business minded turnaround, strong CEO can uproot this rotten status quo, and immediately save $30m/Q which will make the stock rocket.
Urgency Of Change
Urgency Of Change
Gross mismanagement of stockholder assets by Karyopharm Board members and incompetent management has led to devastation of value, a financial mess, a runaway cost structure, a sick culture that benefits insiders at the expense of shareholders.
This has turned KPTI with its great life-saving science into a bitch-slapping toy for penny flippers, instead of being a respectable investment instrument. The Board is responsible for this nightmare and will be held accountable if it doesn’t act by its fiduciary duties and drive value, and stop destroying value. Quickest solution is an urgent replacement of Richard Paulson who is responsible for a 96% drop in value - by a competent turnaround, bottom-line focused CEO.
Karyopharm’s weak, horrible CEO Richard Paulson’s idea of cost savings
Karyopharm’s weak, horrible CEO Richard Paulson’s idea of cost savings
1) 4.5 day work week, blah blah
2) Work from anywhere you want
3) Everyone gets a free catered lunch
4) More vacation time than large majority of US companies
4) Tons of fun activities, outings, events, parties, celebrations, giveaways.
6) You get paid time off to volunteer anywhere you want
5) You also get paid time off at year end
7) and the list goes on at Barry Greene, Richard Paulson, et al’s vacations club that has chronic spending cancer, funded by us, And these incompetent losers of company value have the nerve to boast about cost savings! Paulson is the problem, so he can’t solve it. Fire him and see the stock take off. Competence matters. Leadership matters.
New competent CEO = Stock > $10
Deepa Pakianathan: A fox in the henhouse?
Deepa Pakianathan: A fox in the henhouse?
Why is fund manager Deepa Pakianathan still on Karyopharm Board? A fox in the henhouse? She started selling at 6.50 right before a bad partnership news was made public. The Board apologist, Mike Mano tried to cover that up as immaterial. Insider trading or pure coincidence? She kept selling and the stock has never seen that level since. Not long ago she dumped a lot of shares again. As Board member she has insider info and has empowered and enabled the destruction of our wealth by the inept management. And she’s sold at the same time. Why the hell is she still on the Board? Is this all coincidence or is she acting in concert with vultures who want to buy KPTI for cheap? Fire Deepa. This science is worth at least $10 a share in hands of competent management.
Compromised or Incompetent?
Compromised or Incompetent?
It’s a disgrace if Karyopharm’s incompetent Board sells for under $15. To get there, they need to overhaul the rotten dysfunctional status quo that caused the stock to drop 96%. A weak, complacent, CEO, CFO, Legal Counsel, and a useless Board is all it takes to destroy value. Competence matters.
The Board and Paulson are either compromised to sell for cheap, or incredibly incompetent in driving value. A fundamental change in leadership (e.g. new CEO) is urgently necessary as foundation for getting KPTI to $15++.
Lousy CEO Richard Paulson, Lousy Board, We Told You So!
Lousy CEO Richard Paulson, Lousy Board, We Told You So!
KPTI should be $10 today. When it was in double digits, we advised Richard Paulson to get a strong CFO and Legal Counsel and warned about meltdown b/c competence matters. He didn’t listen because he is a weak CEO like M. Kauffman who hired CFO Mike Mason & LC Mike Mano. Great CEOs hire folks who are better than themselves. Paulson like Kauffman likes weak Yes Men who sustain the lavish, wasteful status quo, freebees for everyone, giving 6-figure donations, fun holiday club culture, disregard for bottom line, arrogant entitlement to shareholder funds. 3.5 years of that lousy mismanagement and stock is down 96%. The Board will be held accountable. New CEO=$10 stock.
To: Karyopharm's CEO Richard Paulson, Legal Counsel Mike Mano
To: Karyopharm's CEO Richard Paulson, Legal Counsel Mike Mano
Richard, Mike
I assume from reading the filings (except latest 14A in which Mike Mano I guess decided to hide by excluding himself -- I asked him and Elhan about why he was excluded, but they were both in hiding I guess -- accountability to shareholders is not part of your rotten, wasteful culture that has destroyed our share price by 96% by your incompetent mismanagement of the business which you ran like a non-profit that benefits everybody except those you were hired to serve: shareholders) that your salary + bonus amounts to over $25,000 a week for Richard and over $15,000 for Mike Mano (and Mike Mason who is finally, 4 years too late, is on the way out).
If these numbers are not correct please correct us by writing me back here. Accuracy is important to us.
I hope you both quit soon -- isn't the millions you've made enough? How delusional could you be to expect that either you or some other factor as long as you're around, could turnaround a stock which you have destroyed 96% value of. The problem is you and your abilities, talents, competence, attitude, etc., and conveniently forgetting why you were hired. In the case of Mike Mano, I think it's just a question of caliber. In the case of Richard, it's hard to say - he's no dummy but hopefully it is just lack of corresponding competence, and weakness in going along with a lucrative, lavish status quo while making millions, and destroying stockholder equity and company value. And hopefully it's not corruption and batting for the wrong team, with almost 20 million shorted shares, and a lucrative life-saving, cancer-curing drug that some parties are very interested in to rob it from the hands of us shareholders who have funded your fun science lab and your undeserved salaries and bonuses! Bonus for destroying company wealth.
I am just one of many angry shareholders who does not appreciate how you have irresponsibly burned through our money, and managed the company incompetently down to the state it is now. We're a team and we'll hold the Board and you Richard, accountable.
MIKE MANO’S 11% RAISE AT THE “FUN VACATION CLUB”
MIKE MANO’S 11% RAISE AT THE “FUN VACATION CLUB”
One of Karyopharm’s Chronic Spending Disease symptoms is to keep giving themselves more and more of our money, despite their value destruction and incompetent mismanagement of stockholder assets. They always have an excuse.
Our weak Legal Counsel Mike Mano’s base salary was $400k in 2021. Then he got a 4% raise but that wasn’t enough for the apologist of the Board which upped it to 11% to $450k. Pathetic excuse: market rate; match other executives’ pay. It’s our money not theirs, so the rotten culture just splurges.
Fire Richard Paulson & Mike Mano and the stock will take off.
Competence Matters
Competence Matters
This week, Karyopharm’s horrible CEO, CFO, Legal Counsel made a ton of money again. Richard Paulson, another ~$25,000, Mike Mason and Mike Mano, over $15,000 each. The horrible Board has paid them millions while they’ve incompetently destroyed stockholder assets: KPTI is down 96% despite a cancer curing drug. Competence matters. This gang has proven to be irresponsible with corporate assets, and utterly incompetent in driving value.
Richard Paulson and Mike Mano need to be fired. Mason’s out Nov 5.
A new, competent, bottom-line focused CEO can overhaul the rotten, wasteful, unsustainable live-it-up “holiday” cost structure, and the stock will take off.
Urgent staffing actions needed at Karyopharm
Urgent staffing actions needed at Karyopharm
Immediate termination notice to Richard Paulson, Mike Mano, Lisa DiPaolo.
Fast-track CFO Mike Mason’s exit.
Reduce headcount by 50%. Yes You Can given the relaxed unproductive vacation club culture (100% work from home, 4.5 days/week, double average US vacation time, plus paid year-end vacation.
Put a controller in charge of finances instead of hiring a CFO.
Establish a CEO interim committee headed by the superstars: Ms. Sohanya Cheng and Dr. Reshma Rangwala.
The impact of the above on the bottom-line will send the stock to $5+ and tell Wall Street we are now a business, and we mean business!
Start search for a competent, brave, salesy CEO to uproot the rotten status quo and further lean up the org. Stock will go to $10.
Paulson / Mason Think Investors Are Stupid
Paulson / Mason Think Investors Are Stupid
Karyopharm’s horrible CEO and outgoing CFO, Richard Paulson and Mike Mason giving cash runway projections...with caveats ... shows how incompetent and clueless they are about IR and taking investors seriously - in line with their viewing investors as ATM machines to sustain their splurging and wasting of our money.
Fire Richard Paulson. Get a competent, business minded CEO to rattle the rotten status quo, and the stock will take off.
Karyopharm Holiday Club
Karyopharm Holiday Club
Karyopharm is therapeutic for the insiders and their bank accounts, and has been a cancer for investors because of the disgusting, egregious, irresponsible, incompetent governance that thinks the “holiday club” is entitled to indefinitely take shareholder funds and never give back. Richard Paulson and the Board of Directors are responsible for destroying 96% of the stock value. A competent turnaround CEO can transform the vacation mode into a real business that delivers value for shareholders.
Mike Mano Hiding
Mike Mano Hiding
It seems Mike Mano, Karyopharm’s horrible Legal Counsel whom shorts adore and run circles around, decided to hide himself from 2024 14A filing. He appears in previous years’ filings, He has made millions while the stock has tanked over 90%, just like horrible CEO Richard Paulson and horrible CFO Mike “Arcade” Mason. IR went missing in action when asked about Mano excluding himself from 14A.
You can hide but you can’t run from accountability to people who pay your salaries.
Rotten status quo of spending diarrhea
Rotten status quo of spending diarrhea
Richard Paulson is still spending like he is in a big pharma with deep pockets, though every successful company is very economical, unlike Karyopharm that’s run like a holiday club based on a dysfunctional paradigm of being eternally entitled to shareholder funds. Paulson has no idea what austerity measures mean. That’s too much against the rotten status quo of spending diarrhea. A new CEO/CFO can increase company value by 10x by overhauling the wasteful culture and runaway cost structure that benefits and enriches insiders at our cost.
WHAT’S FOR LUNCH AT KARYOPHARM FREE VACATION CLUB TODAY?
WHAT’S FOR LUNCH AT KARYOPHARM FREE VACATION CLUB TODAY?
Daily catered lunches for all employees “subsidized” by us bagholders whose money is burned by the Board and Richard Paulson’s lousy and irresponsible mismanagement of stockholder assets, while they get richer.
Fire Richard Palson. A new competent CEO/CFO can get KPTI valued at $5+/share quickly.
KPTI performance since Richard Paulson joined the company: 96% Drop!
KPTI performance since Richard Paulson joined the company: 96% Drop!
The stock dropped 96% despite a life-saving, cancer-curing medicine. Karyopharm urgently needs a new CEO/CFO who is competent in driving the bottom-line, investor relations and accountability, cost savings, austerity, organizational overhaul which is urgently needed to save millions, and to transform a wasteful Vacation Club into a lean, performant organization, and stock will take off to double digits.
The Mess Richard Paulson Has Created
The Mess Richard Paulson Has Created
Is Richard Paulson thinking: "After Mike Mason, I'm next", or "I've blown it, but the salary and bonus is too sweet for me to do the right thing and quit and let a competent CEO who can drive bottom line take over and clean up the mess I've made, the stock diving from $17 to $0.7, losing 50% of tutes, a huge interest payment burden, runaway cost structure, holiday club culture, delays after delays, pissed off shareholders who’ve been paying my salary as I have ruined the company value” ?
Karyopharm Board Made A Mistake In Appointing Richard Paulson And Needs To Reverse That Mistake Immediately
Karyopharm Board Made A Mistake In Appointing Richard Paulson And Needs To Reverse That Mistake Immediately
Karyopharm Board made a big mistake in appointing Richard Paulson as CEO. Paulson’s prior experience was with financially strong pharmas. He never ran a bottom-line sensitive small biotech. He messed up big, with the share price dropping 96% since he came on board. The Board has to reverse this gross mistake and fire Richard Paulson immediately. When the house is on fire you don’t sit around twiddling your thumbs while we pay you a big, undeserved money. Get on with it. Your legal and ethical mandate is to create value for the company (= #Shares x PPS).
In Paulson’s La La Land, he wants another 2 years, as though 3+ years and over 90% destruction of PPS wasn’t enough for him - that somehow a miracle will happen, the company will survive through the mess the Board and him and your horrible CFO, Legal Counsel, CHRO have created. And data will save this mess, and if it doesn’t, he still has collected millions for himself, and if the stock is destroyed, maybe you/him would even like that if you have had an ulterior mandate (hopefully not and this is just incompetence). You don’t keep a CEO on the job with Paulson’s track record, no matter how many excuses he has. It’s time to act, abide by your mandate, and show you are worth the money and trust we’ve given you. This is a classic turnaround story, in the hands of the right CEO/CFO that can make Karyopharm’s value jump a 1000%, and into the billions.
Richard Paulson, You Should Quit
Richard Paulson, You Should Quit
To: Richard Paulson (cc: Elhan Webb)
A couple of 50k blocks dumped today (see below). Even 72 cents is not attracting buyers because Wall Street doesn't trust you, for valid reasons, given your performance, and it doesn’t like the financial mess you’ve created by irresponsibly burning through our funds, and because of you and you CFO, LC’s weakness and inability to think outside the box. If Mason could supposedly "quit", why don't you also quit Richard? You will be praised for acknowledging you can't succeed on this job (as we predicted over 3 years ago - unless you brought changes we recommended, but you ignored it) - and let a competent CEO who understands what austerity measures mean, what driving the bottom line means, and what productivity levels mean (an HR/mgmt concept that doesn't exist in your "fun vacation club" culture).
It would mean giving up your undeserved $1.x million salary + bonus, but it would give you a good name - a man who put what's right ahead of his bank account.
CEO RICHARD PAULSON HAS DESTROYED KARYOPHARM
CEO RICHARD PAULSON HAS DESTROYED KARYOPHARM
CEO RICHARD PAULSON HAS DESTROYED KARYOPHARM. STOCK DOWN 96% SINCE HE CAME ON BOARD, DESPITE A LIFE-SAVING, CANCER CURING MEDICINE.
INCOMPETENCE OR CORRUPTION? WEAKNESS IS INCOMPETENCE. RUNAWAY COST STRUCTURE. DYSFUNCTIONAL CULTURE. GREAT PRODUCT. PUT IT IN HANDS OF A COMPETENT CEO AND THE STOCK WILL TAKE OFF. WALL STREET DOESN’T TRUST LOSERS WHO OVER PROMISE, UNDER-DELIVER, DON’T CARE, LIVE IT UP ON SHAREHOLDER FUNDS.
Karyopharm HR Onboarding Message (Welcome To Greene & Paulson's Free Vacation Club)
Karyopharm HR Onboarding Message (Welcome To Greene & Paulson's Free Vacation Club)
(Satire.) Welcome to Fun Holiday Club a.k.a. Karyopharm Pharma. Your fun as employees is guaranteed. You can work 4.5 days a week if we can call it work: you can work from anywhere you like, and can hold your dog on your lap during business hours; work laptop is secondary. You get time off to go volunteer since we have so much money to burn that your productivity doesn't matter. We got suckers as shareholders we've been withdrawing money from and flipping them off in return as we burn their cash to sustain this fun science lab for you! If you honor us by showing up to the office, a free catered lunch will await you. We give you more vacation time than most US companies, in case you get tired of not working, and you can have the end of the year off too. Like parties and events and outings? We got plenty of those to make sure you're entertained and your fun to work ratio remains exceptionally high, so we can be called The Best place to work, funded by bag-holders whose wealth we destroy, and we get paid for doing it too, and big bonuses and perks. Don't believe us? Just look at the stock price. We will proudly receive the best of best destroyers of company award this year.
Since our CEO joined the company the stock has tanked 96%. We got a CFO and Legal Counsel too, that short-sellers adore. Not only they can't think outside the box, they don't think inside the box either, because at Karyo Fun Club you don't need to think. Just show up and get your free lunch. Main thing is that you're happy; that's our mandate; oh ya patients too, we like them, but those shareholder, we despise. Haha they even think we're accountable to them. Our Board is very cool. You never have to worry about them overseeing anything. They get their direct deposit every month and are happy. Once in a while we have some zoom calls, but nothing ever, that translates to company value. What about the bottom-line? What's that?
We got stock options, but since due to our mismanagement of the vacation club the stock has always tanked, we don't really care and just reprice our options. Welcome to your dream job; you're implicitly screwing the shareholders, but it's not your fault - we do it together, team work, and we benefit from shareholder money. Screw them! You can be proud of working for a company that despite bleeding shareholder money, we give 6-figure donations to charity, and we tell our bag-holders (ATM Machines) that we're saving a lot of money, and buy more time to make more millions for ourselves, and hope that good data will transform this rotten, lousy, wasteful culture and get the stock price up, which won't happen as long as we're running this company because Wall Street knows what we're about. Until a new CEO/CFO and Legal Counsel comes on board and take this rotten bull by the horn, and the stock will got to $5+ quickly. Just do the math.
Message to Karyopharm Board Members About New CFO
Message to Karyopharm Board Members About New CFO
Richard Paulson should not pick the next CFO. Paulson is too engraved in the dysfunctional, rotten status quo of entitlement, complacency, wastefulness, disregard for bottom-line, disrespect for owners of the company, totally irresponsible financial mismanagement of blowing stockholder assets on sustaining a “fun vacation club” that benefits everyone except us, who hired you and are paying your salaries to build value for us (corporate management 101).
Also, Paulson is weak, and weak CFOs bring in weaker people than themselves. That’s how Mike Mason and Mike Mano were hired. The Board needs to be very active in selecting a strong CFO (not bean counter) who can think outside the box, with great comms and IR skills, who can turn this rotten status quo upside down, and make it a lean, performant, robust, efficient, and soon to be profitable corporation instead one that is lazy, fat, bloated, inefficient, in holiday spirit, splurging cash on totally unnecessary things while bleeding cash. The new CFO should be set a goal of reducing costs by $10 million a month. It can be done. You may need a new head of HR and a temporary change management consultant.
Another option is to not hire a CFO. Instead, hire a turnaround courageous strong CEO with a mandate to transform this money wasting, complacent, value-destroying mismanagement. It’s not rocket science. Just needs the Board to get active and do something for the money you’re paid, for a change. You’ve enabled this unsustainable nightmare that has destroyed 96% of stock value. Fix it, or you will be held accountable.
Lisa DiPaolo's Idea Of "Delivering Value" in the dysfunctional [for owners of the company] "Fun Vacation Club"
Lisa DiPaolo's Idea Of "Delivering Value" in the dysfunctional [for owners of the company] "Fun Vacation Club"
Our head of HR Lisa DiPaolo “Chief Human Resources Officer” (CHRO) (used to be called HR Director for decades) - oh she’s also an Executive VP. A mile long title for splurging shareholder funds on the “fun vacation club” - got awarded effectively for a great job of making employees so happy, using our money!
Any HR manager could do that if they were thrown free bottomless shareholder money to splurge, without any consideration for the bottom-line, while the company is bleeding cash and paying millions in interest, and the “culture” she brags about doesn’t feel accountable to the people who are paying their salaries: us shareholders they’ve omitted from their charity / fun club equation.
The company is losing over $100m a year, despite Richard Paulson’s rhetoric about how MM is profitable, is funding the pipeline, blah blah - in his pipe dream. We are funding their luxury “culture”.
To to rub salt into the wound, DiPaolo brags about “Delivering Value through Culture” Bull! Shxt! Value for a corporation is measured in dollars: #shares outstanding x share price. Voila! They’ve been destroying value by their runaway unsustainable cash guzzling dysfunctional “culture” they’re so proud of, which is very profitable for insiders at the cost of shareholders. A new bottom-line focused CEO can end this misery and the stock will take off when these complacent losers of value are ousted. Fire Richard Paulson, Lisa DiPaolo, Mike Mano, and fast track Mike Mason out the door.
The Board is responsible for this mess, and will be held accountable
Note to Lisa DiPaolo
Note to Lisa DiPaolo
Dear Lisa: Here's a new article: Lisa DiPaolo's Idea Of "Delivering Value". It's very strange to see your phrase: "value through culture". The article talks about how value in a corporation is calculated. Karyopharm's company value has nose dived to the tune of some 90%. So it's painful to hear you brag about how your wasteful culture is actually adding value. Extremely wasteful, in the opinion of some of us who have had a ton of experience in the corporate world and know a few things about productivity, expense control, motivation, team building, etc. In fact, in light of the current financial mess the mismanagement has caused, the culture is needs of a major transformation, austerity measure, etc. - but I doubt you can do it because you are part of the problem. I don't know if you realize the problem Karyopharm is in and what a 70 cent stock means...
96% drop in KPTI share price since Richard Paulson came on board is not misfortune; it’s mismanagement.
96% drop in KPTI share price since Richard Paulson came on board is not misfortune; it’s mismanagement.
96% drop in KPTI share price since Richard Paulson came on board is not misfortune; it’s mismanagement, it’s forgetting shareholders are stakeholders; it’s splurging stockholder assets; it’s a dysfunctional false paradigm that you’re endlessly entitled to shareholder money that you can just spend, splurge, and never be accountable to the people who hired you and are paying your undeserved salaries and bonus for destroying company value. This irresponsible attitude has destroyed shareholder wealth.
Paulson/Board’s attitude defies the purpose of corporate management. Or, is it corruption? Something is very wrong given there’s no focus on driving the bottom-line in the veins of this dysfunctional regime / corporate culture which is always defined from the top. They keep tagging they believe in their people blah blah. Who pays their people? Why? Paulson has an MBA and should understand these key concepts, and the reason for the 96% drop becomes clear: mismanagement. And horrible management always has excuses.
Paulson is the wrong CEO for us. He always worked for big pharma which had a ton of cash. Paulson is clueless about cost savings and austerity measures that real turnaround CEOs live and breath. Fire Paulson. Rescue KPTI.
Incompetence or corruption, the Board will be held accountable. Firing Richard Paulson and bringing a strong, courageous CEO who is not afraid to shake out the rotten, lazy, fat, bloated, wasteful Karyopharm’s corporate culture will make the stock go over $5 quickly. Wall Street doesn’t put money on such incompetent CEOs and Boards who just burn cash.
Medicine For Karyopharm's Incurable Chronic Spending Diarrhea
Medicine For Karyopharm's Incurable Chronic Spending Diarrhea
Karyopharm is run like a non-profit, giving away shareholder money while bleeding cash. From extravagant employee benefits that has made the company seem like a luxury vacation club, to 6-figure donations, while the company is bleeding cash, is in financial chaos paying millions in interest, overhang of convertible notes, a runaway number of shares outstanding from so much dilution, alienation of shareholders who have been treated like ATM machines to support management and Board's lavish spending including big pays and bonuses to themselves as the share price has dived 96% and despite that the chronic spending diarrhea hasn't seemed to change because it is engraved in the minds of the insiders, a holy grail that can't be questioned.
Look at the list of companies above next to Karyopharm and look at their market caps and financial strength, and the feeble, debilitated Karyopharm which is dying from mismanagement of its assets by this Board and CEO who have proven to be totally incompetent in creating value for the company as measured in dollars (shares-outstanding x stock-price).
A new businessman CEO who is focused on bottom-line will stop this bleeding of shareholder assets to fund the lavish splurging of the insiders. Paulson can't do it because he is the problem, so he must be fired - he's proven clueless about driving the bottom-line. Richard Paulson, Mike Mano, Lisa A. DiPaolo should be fired. We need a cross the board layoffs, revamp of the wasteful HR culture, increased productivity which will save millions a month. Stop the intern program, the volunteer program, donations, free daily lunches, exotic trips, endless events and feeling obliges to celebrate and throw our money at every damn occasion. The vacationers (employees) should be in the office min 4 days a week. 5 day work weeks. If they can't handle it, they don't belong there anyway and are just there for vacation. Fire them. We're sick of funding your fun science lab that burns our money for things that don't contribute to the bottom line.
That's all part of an austerity measure, which should also include salary freeze, hiring freeze, travel freeze, and it's time for the Board and C-suite to take a temporary pay cut after destroying company wealth for so long.
Unless their agenda is to take the company bankrupt and destroy the shareholders and put selinexor in the hands of those who can make it into a multi billion dollar drug. We can't rule out that possibility (corruption) but hope this disaster the mismanagement has caused is a matter of incompetence and not corruption.
The Board Will Be Held Accountable
Congrats Richard & Useless Board: Notice of Delisting
Congrats Richard & Useless Board: Notice of Delisting
When Richard Paulson joined Karyopharm as Board member, the stock was around $17. When he became CEO it was in mid $9's. Due to his gross mismanagement and negligence of the bottom line, him and a few of his horribly weak direct reports have debilitated the stock, to the point that it has trouble staying listed. Shame on you Richard, and shame on Karyopharm’s Board who were explicitly warned about this nightmare but ignored it, failed their duties, and enabled Richard’s irresponsible splurging of our money for the benefit of everybody except us shareholder who pay your undeserved salaries and fat undeserved bonuses you give each other from our money.
Life doesn’t work like that. You WILL be held accountable if you do not end this gross incompetent mismanagement (or corruption) immediately by firing Richard Paulson and his weak gang who have run this company down. Hire a couple of more superstars like Reshma and Sohana - a CEO who’s laser focused on bottom line and stops this irresponsible wasting of cash that Paulson is too weak to stop, and he benefits from it. A new CEO can regain Wall Street trust that this moronic management has lost, and the stock will go to $5 quickly as a start. The issue is the unsustainable cost structure and even worse, the horrific, incompetent mismanagement of assets.
Fire Richard Paulson and get a turnaround CEO / CFO, cut 10m a month in expenses, and stock will go to $15+
Karyopharm (KPTI) should be valued at least $500 million today
Karyopharm (KPTI) should be valued at least $500 million today
Karyopharm (KPTI) should be valued at least $500 million today, given basic valuation models, but it’s a 5th of that because of the moronic mismanagement of the company and unsustainable, debilitating cost structure, and wasteful culture, and wrong paradigm that confuses a business as a charity.
The good news is, the stock can go over $5 quickly, and the company can get billion dollar + valuation (double digit share price) -- given the strength of the phase 3 trials which are totally ignored because Wall Street has lost trust in Richard Paulson’s horrible mismanagement of the company. What the heck? You wake up and go to a holiday camp, it seems, given the level of perks they give themselves. Let’s get real. Some of us know what a professional business looks like, and it ain’t the way Karyopharm is run --
IF this wrong CEO Richard Paulson is fired, and also Mike Mano and Lisa A. DiPaolo - and thank God Mike Mason is out in 6 long weeks, and the Board wakes up and starts doing what it’s paid to do, and get a new turnaround / bottom-line focused CEO / CFO, and flush out this dysfunctional charity mentality and transform KPTI into a lean, efficient, performant, business (vs. a lazy-ass, delay tolerant, unproductive, holiday club with endless perks for the insiders).
Incompetence or Corruption?
Incompetence or Corruption?
Richard Paulson, Mike Mano & The Board, Y’all don't like accountability; you think you're entitled to shareholder funds to just spend it like there's no tomorrow; and Paulson has the nerve to say give me a couple of more years (and $2million+ more) and good data will solve the problem. It will not, because the problem is not the data, it's the mismanagement, horrible incompetence at the core - or corruption (intentional destruction of the share price to put the science in ulterior hands) - I like to believe it's the former.
You have always hated shareholders otherwise you'd live your mandate of driving value = driving bottom line = not splurging like you have been. You all love your “vacation club” where you also get some work done, and pretend you're running a for-profit while it resembles more like a charity.
You have destroyed investor trust in the company. 96% drop in the stock since Paulson showed up, and institutional interest has halved, but that doesn't seem to matter. It hasn't put a dent in the dysfunctional culture, and will not because the problem is rotten at its core. Any organizational / management expert can tell you when it gets this bad, the only solution is to replace the pillars of the problem who are Richard Paulson, Mike Mano, Mike Mason. Otherwise the court has to get involved and force out some of the Directors, which will look extremely bad for them.
Richard Paulson's Resumé Shows He Is Clearly The Wrong Fit, And Must Be Fired Immediately
Richard Paulson's Resumé Shows He Is Clearly The Wrong Fit, And Must Be Fired Immediately
Mr. Greene, Mr. Mano: Please forward this to all Board Members. The Board WILL be held accountable.
Richard Paulson was a wrong choice for CEO. His past experience was with big pharma which had established strong market positions, strong finances, no Wall Street sharks to deal with, well established, efficient processes and cost structure, etc. Karyo had a totally wasteful culture, a confused paradigm of not knowing if it’s a charity for employees or a business for shareholders, etc.
Paulson had no competence in turnarounds and driving the bottom-line. So he screwed up Karyo even more. KTPI dropped 96% since he came on board.
The sick, dysfunctional, wasteful, charity culture of this supposed “for-profit” company got worse. There’s no occasion that Karyo is not drooling to celebrate, throw money at, send employees to go volunteer, train lots of interns, give 6-figure donations, free daily lunches for all, work anywhere you want, even with your dog on your lap, 4.5 days work week, year end time off, double the vacation than most US companies, exotic trips, parties, outings, celebrations, and splurging like there’s no tomorrow, for insiders, paid by shareholders!
Stock down 96% as a result, and the useless Board still pays Paulson $100k+ a month!! Karyo urgently needs a bottom-line focused CEO/CFO. Stock will go to $5+ quickly, and Karyo can get valued in billions.
Karyopharm's Dysfunctional Culture
Karyopharm's Dysfunctional Culture
Preamble for the version sent to the company
Mr. Greene, Mr. Mano: Please forward this to all Board Members. The Board WILL be held accountable.
This following article is not a rhetorical question. It's a serious concern for some of us investors who watch you destroy company value, get millions in doing so for yourselves (Paulson, Mano) and hundreds of thousands for the ultra passive Board - and keep delaying while you keep getting more and more money paid to you from stockholder equity that you have mismanaged, and you keep asking for more time to include this preposterous failure. Life doesn't work like that. You are not entitled to endless shareholder subsidizing your plush, lavish, wasteful splurging of shareholder funds and Paulson still has the nerves to get on the microphone and brag about cost savings while giving 6 figure donations and daily free lunch to his paid vacation club to work 4.5 days at home with the dog on your laptop, and double average US company vacation, and end of year paid leave, and endless perks.
This is a sign of a dysfunctional culture that is run by a CEO (and endorsed by a Board) who have no idea how to run a business. Y'all have forgotten your mandate, and that Karyopharm is a business and not a charity that is supposed to keep enriching yourselves and the employees and provide a public service, and throw shareholders under the bus.
I worked for a high tech company where they brought a new chief of R&D who ran a pen making company and knew nothing about the technology, but excelled at it because he was a strong manager. Paulson must be fire immediately, and any strong manager with a business sense can turn this company around overnight. Paulson can't and won't for whatever creepy reason or incompetence, I don't know. We cannot afford this nightmare any longer, and the Board must urgently act. When the house is on fire you don't sit there twiddling your thumbs any more.
The Board is ultimately responsible for this nightmare, and WILL be held accountable.
Was Richard Paulson Mandated With Destroying The Share Price?
Was Richard Paulson Mandated With Destroying The Share Price?
Just wondering (not accusing): If some hedge scum connected to Karyopharm’s Board of Directors or not, planted and paid Richard Paulson $4+million to destroy the stock so this great life-saving, cancer-curing medicine is taken out of the hands of us shareholders who have funded its development, and put in hands of competent parties who get multi-billion-dollar value for it.
If true, it explains e.g., why they have kept a weak CFO, and why they write 6-figure checks to charity while the “paid vacation club” is bleeding cash - and the rest of the splurging of millions in the “fun science lab” that benefits everyone except us who pay their salaries.
Fact is the stock has been killed (down over 90%) on Paulson’s watch, and the Board explicitly endorsed him, CFO, LC. Michael Kauffman said Pharma wanted Selinexor. We know Pharma colludes with Wall Street to kill companies it wants. Some hedge funds also do that: short, distort, gobble. Their agent or not, Paulson, Mason, Mano have been dream come true for shorts who still haven’t covered!
How could a guy with an MBA be so purportedly incompetent in creating value, be so wasteful of company assets, and create such a financial mess, and debilitate the stock so bad? And 5 times delay in just one trial. Very fishy!
PS -- Not to mention two rounds of large stock sales by Board member / fund manager Deepa Pakianathan, including a round that took the stock from $6.50 to $6 and eventually to almost a tenth of the price, and she's still on the Board and getting a hefty salary, and insider information (which may be ok, or not - we don't know - this whole thing is very fishy).
Does Richard Paulson Think Investors Are Stupid?
Does Richard Paulson Think Investors Are Stupid?
Karyopharm's Problem is Richard Paulson who's been let loose by the Board and ended up destroying the stock over 90% by gross mismanagement. Time to act is NOW. Paulson is sure to further destroy the company. A new CEO can turn this ship around in no time once you get rid of these losers, Paulson, Mano, and the dysfunctional chronic spending diarrhea, an unsustainable cost structure.
WHERE THE HELL ARE YOU GOING TO GET THAT EXTRA 100+M deficit a year Paulson? Your lousy "strategy" to milk shareholders to fund your lavish spending, 6 figure donations, 300+ people working from home with their dogs on their laptops, daily catered free lunches, Kilimanjaro trips, etc. etc. Game's Over Richard. Your sick corporate culture is NOT sustainable. You have to let go of half the useless staff at your fun vacation camp. But you can't. You don't have the intelligence, guts, vision, experience.
We need a brave turnaround CEO to take this bull by the horns. We've seen it done before. It's possible to right the disaster you've created very quickly by change of guards. Else, this disaster will continue, the bleeding of cash will continue.
Just listen to Paulson's caveats when he talks about the cash runway. How dare you give cash runway projection with that many caveats? It’s an insult to investors. No wonder 45% of institutions bailed on this lousy CEO and Board. Who's he trying to fool ??? The jig is up. We see right through you all. Incompetence or Corruption, we don't know, but this is NOT sustainable. And it's in the hands of the Board, and they will be held accountable.
Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su: FIRE RICHARD PAULSON AND MIKE MANO NOW TO SAVE KARYOPHARM
FIRE THE GUY ON THE RIGHT - RICHARD PAULSON. WE'VE HAD ENOUGH OF HIS BS, AND PAYING HIM OVER $4M WHILE STOCK TANKED OVER 92% UNDER HIS INCOMPETENT MISMANAGEMENT OF COMPANY VALUE.
He just lied saying MM sales is funding the pipeline! What about over a 100m deficit a year sucker ! Who’s funding that sucker? Answer: WE, the shareholders are funding your splurging irresponsible spending and gross mismanagement that led to almost 95% drop in stock since you took office, loser.
More Dumpling of Shares due to Lack of Confidence
More Dumpling of Shares due to Lack of Confidence
More dumping of KPTI shares because Wall Street knows if these incompetent losers of company value - CEO Richard Paulson / CFO Mike Mason, who have spending cancer and think they're running a charity, and are getting paid millions by the irresponsible Board which WILL be held to account - do a reverse split, it will be a disaster because they are so incompetent and with that General Counsel Mike Mano on their side, they'll sure continue failing. There is a solution, and that's to dismiss these losers.
Fun vacation club, funded by shareholders
Fun vacation club, funded by shareholders
They're running a deficit of 100m/year, funded by shareholder funds, our money, so we're paying their salaries, to work from home with a dog on the lap and laptop, which is just symbolic of the dysfunctional culture run by a horrible CEO and some of his very weak people who have no clue how to run a business, and the horrible Board is asleep on the wheel, enabling this sick culture to continue destroy company value, our money.
A new CEO can turn this around in no time. I've seen it done. Paulson can't do it. He's too weak or whatever the hell his scoop is; and incessant delays, lavish splurging, and his grand success in destroying 95% of our share value. I've worked with many C-level executives of world class organizations, and know what effective CEOs can do. Paulson's one of the worst and weakest and creepiest CEOs I've ever seen. Anybody with basic business sense can do a better job than him. And we're paying him $1m+/yr!!
Investors Who Pay Management & Board's Salaries Don't Count In Karyopharm's Dysfunctional Paradigm
Investors Who Pay Management & Board's Salaries Don't Count In Karyopharm's Dysfunctional Paradigm
Notice how the lousy CEO Richard Paulson almost never mentions investors, who are paying his salary as people whom he is mandated to serve. This is part of the dysfunctional culture of the fun science lab, paid vacation club that never respected investors. It goes back to the days of his predecessor lousy CEO Michael Kaufman who never managed a company successfully as CEO before Karyopharm. Him and these losers think they are entitled to shareholder funds.
They do a raise, they withdraw the money from the ATM, and say FU to the investors effectively. Rinse and repeat. And the stock kept going lower because of that entitled attitude. Now they've hit the bottom. Let's see if the useless Board wakes up and remembers what its mandate is and how it's accountable to us, to drive value, and bring a new CEO for that simple job in this case if somebody has basic business sense, to start with curing this spending diarrhea and unsustainable cost structure, a major layoff, change of mindset.
Karyopharm's RICHARD PAULSON WAS PAID ANOTHER $25,000 THIS WEEK, MIKE MASON ~$16k, MIKE MANO ~$15k, from our money while they've proven incompetent in driving company value and destroyed value 91% since Paulson became CEO.
"Growth" Of Directors And Management Bank Accounts
"Growth" Of Directors And Management Bank Accounts
Karyopharm Board & Management's idea of "Growth" seems to be just growth of their own bank accounts because there has been no growth for the company which is measured by value, in dollars not Richard Paulson's BS talk, but there has been a big growth of Richard Paulson’s wealth – he was paid over $4 million while share price tanked 91% due to CEO Richard Paulson, CFO Mike Mason, and the useless Board’s “growth strategy”.
Here’s his BS talk as he gets richer: "Turning to slide 5, I would like to first focus on our innovation and growth strategy as we work to deliver our next stage of growth by advancing our late-stage pipeline while continuing to strengthen our foundation in multiple myeloma."
A "Growth Strategy" that has led to decimation of company value under this horrible mismanagement while insiders have gotten richer and richer, and even had their lunch paid by our money.
Believers In The Extraordinary For Insiders Funded By Shareholders
Believers In The Extraordinary For Insiders Funded By Shareholders
QUESTION: Richard Paulson, The Lousy CEO of Karyopharm: What’s So Extraordinary About Incompetently Destroying The Stock / Company Wealth Over 90%?! ANSWER: He got $4+ million package during the same period. And his lousy CFO and Legal Counsel got about $2 million package each.
Employees work at home with dog on the laptop. Daily free catered lunch for all employees if they manage to get their ass in the office and do something -- even after the stock tanked 75%. Six Figure (that’s over $100,000) a pop donations, givings, grants like they’re a billionaire Foundation. Kilimanjaro and other exotic trips.
Endless perks, events, parties, outings, live it up, splurge, burn that cash like there’s no tomorrow, still, after stock is down almost 95% since that loser of our wealth and builder of his wealth with our money, Richard Paulson came, he is still keeping his damn Empire of over 300 people. Fire ½ of them and the stock will go to $5 instantly (do the simple math) or bring a new CEO who has the guts and ethics to start DOING WHAT HE’S PAID TO DO: BUILD SHAREHOLDER VALUE - NOT LIKE PAULSON SPLURGE, BURN OUR CASH ON STUPID NONSENSE, DESTROY SHAREHOLDER VALUE, AND GET ANOTHER MILLION + A YEAR FOR DOING SO.
THE LOUSY BOARD IS FULLY RESPONSIBLE FOR THIS NIGHTMARE AND WILL BE HELD TO ACCOUNT IF THEY DON’T MOVE THEIR ASS AND START DELIVERING VALUE FOR THE MONEY THEY’RE PAID. THE VACATION CLUB THAT JUST GIVES TO INSIDERS IS GOING BANKRUPT BECAUSE OF THESE INEPT, UESELESS BOARD MEMBERS. NUMBERS DON’T LIE. This nightmare is endorsed and enabled by Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su.
Fire the dork CEO Richard Paulson who has NO IDEA how to run a BUSINESS. Get him a job at Goodwill Industries or the local Arcade where Mike Mason might get a job as Chief Fireball Officer.
Richard Paulson's Lack Of Competence In Creating Value For The Corporation
Richard Paulson's Lack Of Competence In Creating Value For The Corporation
Hey Richard Paulson. You forgot what your mandate is; why you were hired. You weren't hired to splurge and burn cash and run Karyopharm like a charity, benefiting everybody except people who pay your salary! Your mandate is to build value for the company. You have an MBA, you should know that much, you lousy CEO, incompetent loser of value!
Splurging Shareholder Funds On Endless Perks For Insiders
Splurging Shareholder Funds On Endless Perks For Insiders
Despite the stock having dropped almost 80% since CEO Richard Paulson was hired to run Karyopharm, these losers of shareholder funds, ran a job advertisement to hire someone to administer free daily catered lunches for all employees, in June 2023, when the stock had tanked from double digits to $2. This is just one of the many signs of the lavish, careless, irresponsible spending of shareholder money by Richard Paulson, Mike Mason et al. – Paulson likes feeding us BS that MM is profitable and is funding the pipeline. He skipped a minor detail: how they manage to lose over 100m a year because the company has incurable spending diarrhea and the only cure is firing of this lousy CEO and bringing someone who knows how to run a business.
The stock dropped another 50% since then! After that kind of a track record, anybody who thinks Richard Paulson can be a successful CEO and turn this ship around, is dreaming – unless the Board finally decides to do something for the money it gets, and bring in a CEO to turn around this ship that’s losing money like crazy as we speak. Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su, we are waiting for action. In case you’ve forgotten, you’re accountable to shareholders.
It’s impossible for an inept, delusional management that has destroyed the stock by 95% to turn it around no matter how great the data. Karyopharm has a life saving, cancer curing drug and a lousy team of CEO Richard Paulson, et al., and useless Board: Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Christy Oliger, Zhen Su, and fund manager Deepa Pakianathan who sold a lot of shares just before a negative partnership news. The great work of stars like Reshma and Sohanya is going to waste by the above’s incompetence in driving value; gross mismanagement; a delusional paradigm of running a For-Profit like a Charity that has access to endless funds; disregard for its mandate to build worth, and build a business which is impossible given their chronic spending diarrhea and burning cash like crazy to support a lavish “fun vacation club” that benefits everyone except shareholders who are paying their salaries! Quickest Solution: FIRE RICHARD PAULSON. The Board will be held accountable if it doesn’t fundamentally change this dysfunctional modus operandi that has destroyed company value despite great science.
Richard Paulson must think of this as extraordinary since he's now pushing a slogan (even using hashtags on Twitter) #BelieversintheExtraordinary : $4mm+ that he's made (paid to him by our money), while he destroyed company value to the tune of 90% by his incompetent, creepy, wasteful mismanagement of our assets, and ruined a great science from getting the valuation it deserves. What has been extraordinarily profitable for incompetent losers of our money, Richard Paulson, Mike Mano, et al., has been a disaster for us shareholders as these jokers wasted our money feeding their own faces, and raking up big remuneration despite their horrible performance, and luxury life at the "fun science lab" and signing 6-figure donation checks, etc. -- FIRE THESE LOSERS. A new CEO / CFO can turn this great science into extraordinary wealth. These losers will continue destroying company wealth as they have done the entire time Paulson has been in the office, and before then too.
Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su are responsible for the destruction of Karyopharm's value
Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su are responsible for the destruction of Karyopharm's value
Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su are responsible for the destruction of Karyopharm's value despite a life-saving, cancer curing medicine, because they are failures as Directors. They’ve failed every key duty by enabling and endorsing this horrible CEO Richard Paulson, CFO, Legal Counsel, etc. in sustaining a non-sustainable sick corporate culture that has incurable spending diarrhea, chronic spending cancer, and it won’t cure till these suckers of shareholder wealth are fired and a responsible, competent CEO with strong ethics who understands he’s accountable to shareholders is hired.
Even the moto of these losers of our money is: it’s extraordinary, and they name everybody that this fun vacation club is extraordinary for – which excludes the very people who are funding the lavish lifestyles of these incompetent losers of our money who appear to have no idea how to run a business, or know or don’t care, since that splurging benefits themselves.
FIRE THIS LOUSY “Live It Up” CEO Richard Paulson and his horrible CFO and Legal Counsel NOW, not in November. Sorry Mike Mano – I know you’re spinning around yourself because you don’t understand that You and your boss et al. are the causes of his destruction of shareholder value that you don’t even count in your equations apparently. It’s Extraordinary For You not for people who fund your “fun science lab” called a business.
Urgent Need For New Leadership
Urgent Need For New Leadership
Karyopharm’s incompetent losers of value (CEO Richard Paulson, Legal Counsel Mike Mano, outgoing CFO, useless Board) can't capitalize on a life-saving, cancer curing miracle drug because of incompetence.
Fire these losers and lay off ½ the staff, streamline the programs, bring in a CEO with turnaround experience, and braveness to think outside the box and transmute the dysfunctional, wasteful, lousy, lazy culture that benefits insiders and everybody else except shareholders. The losers are paid millions to gain value for the company.
Instead, just their bank accounts gains value as these incompetent losers have destroyed company value and running the company like a charity or a holiday camp, living it up with lavish irresponsible spending and the lazy, useless Board has failed its duties.
A new strong CEO can get the share price back to $10 with a drug like selinexor. Richard Paulson has gotten too used to feeding us BS, while his bank account keeps growing and share price tanking. Fire the sucker. The over-paid, lazy, useless Board WILL be held to account.
Retail Can Save Karyopharm By Holding The Board Legally Accountable
Retail Can Save Karyopharm By Holding The Board Legally Accountable
Institutions don't care. The just sell when they get fed up. Only retail can save Karyopharm from the hands of these self-serving dorks who are paying themselves millions as they incompetently destroy company value, and don't even care because they're getting paid millions with OUR money. We CAN do something about it. If you own shares and want to stay passive, expect to continue getting screwed.
It's Extraordinary For Insiders: Live It Up!
It's Extraordinary For Insiders: Live It Up!
Karyopharm’s slogan, which in my view just means they believe it’s extraordinary that a CEO who has been utmost incompetent in driving company value, would lose 91.5% of stock value and still get paid over $4 Million, and $100,000 a month and counting, and he keeps announcing delay after delays, and stock keeps dropping and they feel no sense of urgency! That’s extraordinary for the insiders! The CFO and Legal Counsel got paid about $2 Million each in the same period the stock tanked 91.5%, and the useless Board members too made a ton of money. Dream team for shorts.
You WILL be held accountable. The Board has a final chance to act to save this shit show that benefits themselves, at the cost of shareholders. The science and medicine are great. It’s the governance and competence that suck. All in my opinion.
Stock To $5 Quickly If Richard Paulson Is Fired
Stock To $5 Quickly If Richard Paulson Is Fired
The guy on the right needs to go. 95% drop in stock value on his watch, while he has been paid millions by the useless Board. Competence matters. Performance matters and it's measured in dollars. Richard Paulson has been a disgrace for Karyopharm shareholders. He splurged like there's no tomorrow, burning our cash, irresponsibly, even after the stock dropped 75%. He's either very incompetent as a CEO or he has an ulterior agenda and is hiding it behind that beard.
Reshma rocks. She's amazing. Too bad Karyopharm has had such a lousy CEO, CFO, Legal Counsel who've been totally incompetent in creating worth, which is why they were hired. Dream come truth for short sellers.
Fire Paulson and a new serious CEO will end this wasteful fun vacation club / charity, the unsustainable cost structure, and the stock will go to $5 quickly.
Running A For-Profit Like A Non-Profit While Bleeding Cash
Running A For-Profit Like A Non-Profit While Bleeding Cash
KPTI will immediately go to $5 if CEO Richard Paulson is fired and the useless Board brings a turnaround CEO who will get rid of 50% of the people (who are just excess fat in our view based on where the company's at with their pipeline) - a CEO who doesn't waste away shareholder money like Richard Paulson and his horrible CFO Mike Mason did. How many money losing biotechs you know which is run by a bunch of splurging wasteful losers-of-value who give themselves huge salaries, and give away shareholder money instead of building wealth for the company which is what they were hired to do?
Karyopharm's lousy CEO maintained this page which I suppose was made by the last even more horrible CEO who fostered this pathetic, dysfunctional culture which has betrayed investors after every raise, year after year, and that's why Wall Street doesn't trust these losers. The Board has to stand up to its mandate and do something or be held accountable. https://www.karyopharm.com/responsibility/grants-giving/
Suspicion of conspiracy of incompetence and delays debilitating the company to put Selinexor out of shareholder hands
Suspicion of conspiracy of incompetence and delays debilitating the company to put Selinexor out of shareholder hands
While conspiracies do exist, most conspiracy theories circulating around Covid, etc., are bogus. However, I can imagine a conspiracy to run KPTI down financially, enough to have it get taken over for pennies on the dollar by Wall Street sharks and their Pharma partners, or some hedge fund, or perhaps friends of the Board member Deepa Pakianathan (manager of venture funds with fresh insider info and ability to direct policy as Board member) who's done fishy trading in the past (e.g. selling right before negative news), or some other Hedge Fund... - and that could be why the trials keep getting delayed. Even a pissed off analyst on the last quarterly call complained how Richard Paulson has delayed a trial 5 or 6 times. Lousy managers always have an excuse. Or maybe they're delayed because great data means bids from Pharma which will end the lucrative gig of the top insiders who are paid handsomely regardless of their terrible performance and decimating the stock by 95% since Paulson became the CEO. A conspiracy?
KPTI Is A Ripe Turnaround Case In Hands Of New, Competent Leadership And Not The Current One Who Are Sucking Its Blood
KPTI Is A Ripe Turnaround Case In Hands Of New, Competent Leadership And Not The Current One Who Are Sucking Its Blood
Karyopharm's science, medicine, platform, market are great. The incompetent losers of company value have to be fired. All it takes is a strong value minded CEO who is not focused on filling his bank account with millions of our money while sucking at delivering value -- and all rest of the disaster we've seen because of mismanagement, incompetent management.
I see KPTI as a huge turnaround story but not under the leadership of the incompetent losers of company value, Richard Paulson, Mike Mason, Mike Mano, and the irresponsible, careless, lazy Board members who are also getting paid big bucks for doing nothing, zilch, that matters to company value. Drain the swamp from these losers and we have a big turnaround story led by a new, competent CEO. $4m+ of our money in Richard Paulson's bank is more than enough for that sucker. Fire him. The Board needs to find the integrity to do what's right and bring in a new CEO. 3rd time is a charm.
Richard Paulson & The Board Have Forgotten Their Key Mandate
Richard Paulson & The Board Have Forgotten Their Key Mandate
Barry Greene: Please forward this to all Board Members.
Hey Richard Paulson. You forgot what your mandate is; why you were hired. You weren't hired to splurge and burn cash and run Karyopharm like a charity, benefiting everybody except people who pay your salary! Your mandate is to build value for the company. You have an MBA, you should know that much!
You and your Board will be held accountable within legal and moral frameworks. This is not Wild West where you can just come in, destroy value, get 4+ million package, and walk away like nothing happened (well in your case, keep the profitable gig going for as long as you can). Life doesn't work like that.
At a minimum you're extremely weak, since you did not reform the dysfunctional culture you inherited, while Deepa, Michael, Sharon, and 45% of institutions dumped their shares as you threw the rest of the shareholders under the bus, and continued that sick culture, which I believe you liked -- you liked splurging. How dare you gave 6 figure checks to charities and fed hundreds of people every day with free catered lunches even when the stock crashed !! How dare? This is not Vegas and not Wild West where you can get away with that kind of behavior -- while the sleepy lazy Board enabled you to do whatever you and your lousy disastrous CFO and LC did. Numbers don't lie.
You've destroyed this company Richard. If you have any integrity, say enough is enough and resign. I doubt any other company will hire you after this disastrous record, but you've piled up enough of our cash that you're more than set for a few lives. There are laws that require corporate officers to act according to their mandate. You've sugar coat your pig of performance Richard. Resign!
Signed:
Betrayed Shareholders whose share value has vanished and abused by You in irresponsible lavish splurging and incompetent, preposterous mismanagement and directorship of the company.
"Fun Vacation Club": Karyopharm is Fun & Profitable for Insiders, but a Disaster for Shareholders
"Fun Vacation Club": Karyopharm is Fun & Profitable for Insiders, but a Disaster for Shareholders
Friday afternoons the fun vacation club (Karyopharm) must be deserted. The idea of the inept management who have no idea how to run a business, is that people who work one extra hour a day, can take Friday afternoons off, but these are mostly salaried employees and not hourly, Duh! And who’s going to control them when they’re working at home with a laptop on one hand and a dog in the other? How productive are Karyopharm employees? If you come to office, you get a catered lunch waiting for you. And you get double the vacation time of US companies, plus, year-end paid time off.
And endless perks, events, outings, fun fun fun as the stock dropped 95% due to such gross mismanagement of stockholder equity while the company is bleeding cash and the CEO is in a cloud of delusion that MM is funding the pipeline. It is not Richard. Stop lying. Even your lies don’t help the stock price because competence counts and credibility counts, and Wall Street doesn’t think you got either as a CEO because numbers don’t lie. [Even if MM "profit" is lower than cost of running the pipeline, where is the next 100+ million spent on??!! -- are you not counting the salaries and your splurging with our cash, which is related to the pipeline? Or related to the MM sales? What else do you have ??]
Even when you give cash runway, you don’t give a straight honest answer: you add caveats to it, as though people are stupid! Shame! Perhaps our weak, useless Board and horrible CEO don’t realize that giving employees perks is with the ultimate goal of attracting best talent who perform best, are productive, and all that increases the value of the company. That’s the missing link in the dysfunctional governance of Karyopharm which functions for everybody except those (us shareholders) who pay their undeserved salaries and bonuses while they destroy company value.
They stop in their myopic minds, at the point where benefits are GIVEN to insiders, patients, charity, vendors, etc. – all subsidized by shareholders. They don’t seem to have the integrity to acknowledge the next link in the chain: shareholders, who are holding the bag, hoping this gang that can’t shoot straight will someday have enough of this spending diarrhea and start thinking about running a business. That day won’t come because this CEO is too engraved in the status quo and is too weak to change it, and he sustains it, and he’s a beneficiary of the status quo, and who knows, he might have a wicked agenda too – there are WS sharks who’d love to buy Selinexor for pennies on the dollar.
Hearing Paulson say, the data will transform the company is a joke. They’ve had the best data but blew it. So it’s a problem with their competence and not the data. They will screw up the best of data, and will continue to deter and alienate investors because they are NOT running the company like a business. It’s a splurging, lavish paid holiday camp with chronic spending cancer, run by people who have NO IDEA how to run a business which means building worth. Numbers don’t lie. Richard Paulson firing will fix these problems.
THE ERA OF PATHETIC, INCOMPETENT MANAGEMENT ENRICHING THEMSELVES BY SHAREHOLDER FUNDS IS ALMOST OVER
THE ERA OF PATHETIC, INCOMPETENT MANAGEMENT ENRICHING THEMSELVES BY SHAREHOLDER FUNDS IS ALMOST OVER
Karyopharm’s losers who have lost over 90% of company value while paying themselves millions, have proven to be incompetent in translating the great science into wealth for shareholders which is what they were hired to do. This is due to a false paradigm in the fun science lab’s culture that shareholders will endlessly provide funds to sustain the spending cancer including paying themselves large sums while destroying value by their incompetence. Results in a corporation means shareholder value.
This incompetent gang has destroyed company value by over 90% while taking large sums in undeserved salary++. Richard Paulson’s bullshit lines like “optionality", “disciplined cost control”, “next stage of growth”, blah blah, do not address the fundamental defective paradigm because status quo is profitable for themselves.
The Board must bring in an effective, competent new CEO to take this bull by the horn and get the great medicine the value it deserves. A CEO that feels a sense of urgency, gets the job done without excuses, and is laser focused on driving company value. For over a million dollars that Paulson gets, they’ll surely find a competent CEO.
If the Board doesn’t do that, itself will be held to account.
MILLIONS PAID TO A USELESS CEO WHO HAS FAILED TO CREATE VALUE AND HAS DESTROYED COMPANY'S VALUE
MILLIONS PAID TO A USELESS CEO WHO HAS FAILED TO CREATE VALUE AND HAS DESTROYED COMPANY'S VALUE
Richard Paulson got paid another $5000 from Karyopharm shareholder funds today. Not a bad gig for him for doing ZERO for shareholders. 91.5% drop in stock price since he came and he’s made over $4,000,000 for himself. And there are so many delays and there seems to be no accountability. It’s an extremely lucrative, money making deal for the officers and the Board Members. I’m not saying he is delaying things intentionally to elongate his gig but that happens all the time. I’ve seen it done a lot by consultants and executives that I view as horrible. Nestle’s head of worldwide coffee told me I was the best consultant he ever had because I put my heart and soul into it, and get the job done, like it’s my own company. Richard Paulson, Mike Mason etc. come across as totally relaxed, no sense of urgency, care free, don’t give a damn about what they’re there to do which is to BUILD SHAREHOLDER VALUE. Their performance has sucked, yet they get thousands of dollars a day for their lousy performance and destruction of company value.
Management apologists should wake up. Only way to end this stinky situation is to oust these self-serving dorks who keeps giving themselves big pay and
destroy company value in the process. I don’t care if they’re making effort. Effort is not results. Effective CEOs don’t bring excuses. They under promise and over deliver not like our lousy CEO Richard Paulson. Just in my opinion.
Wake Up Call For Lazy Irresponsible Overpaid Board of Director, Incompetent In Creating Value
Wake Up Call For Lazy Irresponsible Overpaid Board of Director, Incompetent In Creating Value
COMPETENCE MATTERS! This has been said since the stock was double digits. Even if you give the best drug in history to the trio of Richard Paulson, Mike Mason, Mike Mano, they will fail to capitalize on it because they are so incredibly incompetent in that, as has been proven in the last 3+ years while these losers were paid millions and despite a life-saving, safe drug, KPTI has tanked over 90% while everyone has benefited including these losers.
And the useless lazy irresponsible overpaid Board of Directors, that's incompetent in creating value, did not listen, and even explicitly endorsed these losers despite stern shareholder warning. $8 million later paid to these losers by the useless Board, plus the undeserved earnings of the Board itself, they have paralyzed the company by their incompetence, and the useless Board is asleep at the wheel.
WAKE UP Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su. The House Is On Fire, and you’re snoozing and enabling destruction of Karyopharm by these losers in this culture that has a chronic spending cancer and incurable spending diarrhea. You need to act NOW and get this rid of these losers and bring in a CEO. Any CEO with a basic business sense can turn this ship around easily as 50% of the staff at that fun science lab / vacation club are deadweight.
A CEO that Wall Street can respect not like Richard Paulson who just gives us lip service and delay after delay while you pay him millions of our money for destroying company value. A CEO that Wall Street knows means business in building a business not sustaining a charity/fun vacation club that just benefits the insiders, funded by shareholders. YOU WILL BE HELD ACCOUNTABLE.
Lesson For CEO Paulson Who Is Incompetent In Creating Company Value Which Is Measured In Dollars And Not Number Of Free Lunches Serves To All Employees Or Size Of His Bank Account
Lesson For CEO Paulson Who Is Incompetent In Creating Company Value Which Is Measured In Dollars And Not Number Of Free Lunches Serves To All Employees Or Size Of His Bank Account
LESSON FOR KARYOPHARM’S LOUSY INCOMPETENT LOSER OF SHAREHOLDER VALUE, CEO RICHARD PAULSON WHO IS CLUELESS ABOUT COST SAVINGS. HE’S MADE OVER $4 MIL WHILE DESTROYING SHARE PRICE BY OVER 90%, BY RUNNING KARYOPHARM LIKE A CHARITY, FUN VACATION CLUB, THAT BENEFITS EVERYBODY EXCEPT SHAREHOLDERS HE’S THERE TO SERVE. AND THE LOUSY BOARD HAVE ENABLED SUCH GROSS MISMANAGEMENT AND LAVISH WASTEFUL SPENDING OF SHAREHOLDER FUNDS.
"Five newly-hired employees" - these incompetent losers of company value (CEO Richard Paulson, LC Mike Mano, Outgoing CFO, Useless Board of Directors) should have a hiring freeze as part of serious cost cutting but the dysfunctional sick culture that has "spending cancer" can't imagine what real cost cutting is like which should also include salary freeze, travel freeze, all spending must be approved by CEO, hiring freeze, salary cut for the executives and Board until the ship turns around, and a significant reduction of staff, and streamlining the programs to the most essential: selinexor sales/marketing, and ongoing trials - nothing more. They don't need an army of over 300 mouths to feed (with splurging free daily catered lunches paid by shareholders’ money, which these losers would never spend if it was their money). They don't need tons of chemists for example. Sharon Shacham did the most significant chemistry work already, and what's in trial doesn't require chemistry work. They should stop all discovery work.
What an "extraordinary" situation for insiders who are benefiting while shareholders are funding their lavish, wasteful, stupid, incompetent, ineffective mismanagement that has destroyed company value. The lousy, irresponsible, ineffective, lazy, hopeless Directors have endorsed and enabled this disastrous mismanagement of shareholder investment. Their horrible directorship has failed shareholders they’re accountable to, and has led to decimation of company value, yet they pay themselves big sums, from our money! Numbers don't lie. They WILL be held to account.
ACCOUNTABILITY
ACCOUNTABILITY
What the lousy KPTI CEO, CFO don't like. Just burn our cash, get paid millions, and incompetently destroy company value which they were hired to build.
Karyopharm's Three Stooges
Karyopharm's Three Stooges
DORK-IN-CHIEF BEHIND DECIMATION OF KARYOPHARM SHARE PRICE DESPITE LIFE SAVING, CANCER CURING SCIENCE: MIKE MASON, CFO, SUSTAINER OF A WASTEFUL VACATION CLUB CALLED "BUSINESS" BECAUSE OF THE WAY THESE IRRESPONSIBLE DORKS RUN IT, WHICH JUST MAKES THEMSELVES RICHER AND US SHAREHOLDERS POORER. FIRE THIS HORRIBLE CEO RICHARD PAULSON NOW. A NEW CEO CAN CURE THIS "SPENDING DIARRHEA" "SPENDING CANCER" AND CUT STAFF BY 50% AND SHARE PRICE INSTANTLY GOES TO $5. WALL STREET DOESN'T TRUST THESE INCOMPETENT DORKS WHO ARE PAID MILLIONS WHILE STOCK CRASHED OVER 90% BECAUSE OF THEIR MISMANAGEMENT AND LAVISH IRRESPONSIBLE MANAGEMENT/ SPENDING/ WASTING / BURNING OUR MONEY
#2 DORK BEHIND DECIMATION OF KARYOPHARM SHARE PRICE DESPITE LIFE SAVING, CANCER CURING SCIENCE: MIKE MASON, CFO, SUSTAINER OF A WASTEFUL VACATION CLUB CALLED "BUSINESS" BECAUSE OF THE WAY THESE IRRESPONSIBLE DORKS RUN IT, WHICH JUST MAKES THEMSELVES RICHER AND US SHAREHOLDERS POORER. GLAD THAT LOSER IS OUT. CAN'T WAIT FOR NOVEMBER. FIRE HIM NOW.
#3 DORK IN THIS DISASTER OF A GREAT SCIENCE / DRUG BEING IN HANDS OF BOZOS WHO HAVE NO IDEA HOW TO RUN A BUSINESS. NUMBERS DON'T LIE SUCKERS. FIRE MIKE MANO NOW! SHORTS LOVE HIM, MASON, PAULSON. DREAM COME TRUE FOR SHORTS. AND, THESE BOZOS HAVE GOTTEN PAID MILLIONS WHILE OUR STOCK DROPPED OVER 90% BECAUSE OF THEY JUST DON'T HAVE WHA IT TAKES TO RUN A SUCCESSFUL BUSINESS, MAKE SUCCESSFUL DEALS, FIGHT BACK, THINK OUTSIDE THE BOX. DIFFERENCE OF D PLAYERS AND ACE PLAYERS. WELL DONE MICHAEL KAUFFMAN FOR HIRING SUCH STARS - FOR SHORTS!
Garen Bohlin Is A Total Failure As A Director
Garen Bohlin Is A Total Failure As A Director
Garen Bohlin should resign as director. Dead wood. Director since 2013. On his lousy Directorship, the stock has gone from $48 to $0.70 - that's a loss of 98.5%. QUIT GAREN. You have betrayed our trust. You have been a failure. You've failed us. You've failed to perform your duties and have enabled a lousy, lazy, dysfunctional culture destroy company value while having lots of fun events, 6 figure charity givings, free daily catered lunches, exotic trips, work at home with your dog on your lap, fun science lab, spending cancer, betrayal of all shareholders that have trusted you and the management you have enabled who have collectively destroyed company wealth. And you've gotten over a million dollars in salary and perks. Spare Garen. How much longer does your conscience, if you have any, will let you collect a fat salary for doing nothing that translates to value, and let these incompetent losers, the CEO, LC, etc. destroy value? You are responsible Garen, and will be held to account. Quit.
#GarenBohlin @Karyopharm #kpti $kpti
Karyopharm CEO And Board Are Enemies Of Our Money
Karyopharm CEO And Board Are Enemies Of Our Money
The enemies of our money, who are burning OUR money to pay themselves Big Bucks, Richard Paulson, Mika Mason, Mike Mano and the useless irresponsible Karyopharm Board made a bundle today (e.g., Paulson made about $5000) as the share tanked another 3.5%. He's made our share price go down over 90% as he's filled his bank account with millions of our money, in undeserved pay and bonuses, authorized by the useless Board which has also been paid a ton of undeserved money. Wake up investors. Together we can bring meaningful change and hold these value losers to account.
$25,000 A Week For Richard Paulson As He Has Destroyed Company Value
$25,000 A Week For Richard Paulson As He Has Destroyed Company Value
Another week, another ~$25,000 from shareholders’ coffers went into the pocket of the horrible Karyopharm CEO Richard Paulson, and ~$16,000 each for the horrible CFO Mike Mason and horrible Legal Counsel Mike Mano. They’ve proven to be utterly incompetent in building wealth for the company (shareholders). Not to mention the useless Board of Directors who have enabled and participated in this disgraceful mismanagement and decimation of company value. Just in my opinion.
Fire The CEO & CFO. No sense of urgency in their relaxed holiday style. Burning through millions of shareholder money; destroying company value (stock price x # shares outstanding)
Over $4 Million For A CEO That Has Destroyed Stockholder Equity
Over $4 Million For A CEO That Has Destroyed Stockholder Equity
The horrible Karyopharm CEO Richard Paulson should be fired. He has made over $4mm in the last 3 years while the stock tanked 91%. Incompetent in driving value except for himself. The horrible CFO Mike Mason & horrible Legal Counsel Mike Mano made over $2mm each during the same period. Fire the gang that can’t shoot straight. Otherwise they will continue to ruin great science while getting richer. The useless Board will be held accountable.
5 Times Delay As Lousy CEO's Lucrative Gig Keeps Getting Extended
5 Times Delay As Lousy CEO's Lucrative Gig Keeps Getting Extended
5 times delay by the horrible CEO Richard Paulson who is making ~$100,000 a month sounds fishy to me. I wonder if he wants to extend his profitable gig. Good TP53 data could cause offers to the useless Board to sell the company and that will end Richard Paulson’s lucrative income which is totally undeserved because $KPTI has dropped 91.5% on Paulson’s watch. His ineffective CFO and Legal Counsel make over $60,000 a month in salary and bonuses.
I do question their motivation being anything other than extending their own lucrative gig, funded by shareholders since the company still bleeds cash due to its spending cancer, and fun-science-lab dysfunctional culture (for shareholders) operating under a false paradigm contrary to fundamental governance principle of accountability to shareholders and the purpose of their job being primarily to increase company value.
They’ve been decreasing company value because they’re so incompetent in increasing it, and they’re fat, happy, fed daily with free lunch paid by shareholders, and don’t seem to give a damn about delays. They may even view delays as positive: more income for them. Just my opinions.
The Board & CEO WILL Be Held To Account
The Board & CEO WILL Be Held To Account
You, the Board of Karyopharm and horrible CEO, CFO, Legal Counsel have destroyed shareholder wealth. Even when the stock went down 75% on your watch you still splurged lavishly, wasting shareholder money on running your fun science lab because you lost sight of the fact that you were hired to drive shareholder value, company value, and not to get richer while burning our money, giving it away, eating free lunches catered to your desk every day, Kilimanjaro trips for employees, endless events parties, outings, perks, donations after donations, grants like you're Harvard or Roche foundation because M. Kauffman had no clue how to run a business and never did so successfully before.
Best company to work for, best donors, best for patients, all at the expense of shareholders because your paradigm is sick, cancerous, and you forgot the very basics: you are accountable and must build a business that shows profits and when you lavishly splurge, every dollar comes out of the bottom line. How hard is that to grasp Richard? Your MBA should be taken away from you.
Do you see how unethical and immoral it is to fail your duties as such? The only solution may be to drag you to court and free the company from such incompetent Board and CEO who are getting richer and richer with shareholder funds as shareholders get poorer and poorer and the lousy CEO has the nerve to feed us lip service nonsense to get through a conference call so the profitable status quo (for him) can just continue.
you were hired to build a business, to increase company value. Instead you've slashed value for over 90% because of your incompetent, unethical, irresponsible lavish spending of funds, giving away over $100,000 donations, etc. etc. -- which any business man would NEVER do. You have NO CLUE how to live within your means. You are taking the company on the verge of bankruptcy. And then you have that horrific CFO and Legal Counsel whom the short sellers must love.
We warned you when the stock was double-digit. Instead, the irresponsible, incompetent Board explicitly endorsed these losers of value and ignored out warning and the stock tanked over 90% while Deepa, M.K., Sharon, all dumped their shares probably because they knew these incompetent losers Paulson, Mason, Mano et all will screw up the company and drive it closer to the hands of those who really like to own the company -- maybe Deepa's buddies - I don't know -- but this is a ripe delicious fruit that any average competence management who has the right intention can turn around but now our incompetent losers.
COMPETENCE MATTERS.
Listen up Messrs. Greene, Zsu, Bohlin, Schor et al. on the useless Board: It's time for you and the Board to start doing something for the hundreds of thousands of dollars we have paid you. Something extremely disruptive because the status quo is rotten to the core by a false paradigm that funds will come in indefinitely and you can just live it up on the back of shareholders.
If any of you had a Business 101 class you'd know that you are hired to build value for the company, and you are accountable to shareholders.
Or you're corrupt to the core with people like Deepa and others who might like to see KPTI go down, go bankrupt, and get bought by some hedge fund contacts for pennies on the dollar, and then put in the hands of competent management who can turn around this ship. Opps, sorry, the incompetent losers screwed up, wiped out the investors who supported us with their hard earned money, now a hedge fund owns us and reap the benefit. You WILL be held accountable.
The solution is very simple. Get rid of Mike Mason NOW, not in November. Get rid of Mike Mano NOW. Get rid of Richard Paulson NOW. Get rid of Deepa NOW. Get one of your accountants or controller take over the CFO job. Bring a CEO who can understand the basics. Basics of running a business. You have a drug that's bringing in over 100m a year and your stock can't even hold 70 cents and your outstanding share count has been through the roof because these incompetent losers just know how to raise money by issuing shares because the culture is sick -- it has spending cancer.
And Paulson et al. have enjoyed it -- they don't appear to give a damn and even delays just means extension of their lucrative deals, for themselves. I'm not saying they've set up the delays for that purpose, but as I said we also can't rule out the possibility of corruption at the Board level who have fresh insider info and may be already planning the post bankruptcy phase which this incompetent losers including Board members are driving towards.
The only solution is disruptive extreme management now. Hire me or anybody with a basic business sense -- even from outside the industry. It's easy to turn this ship around for anyone with basic business sense:
Take your 100+ mil income from seli and live according to that. Fire 70% of the staff or whatever it takes. Richard Paulson's idea of cost savings is an insult - a joke - to those of us in the corporate world who have worked with competent CEOs who think beyond their bank accounts and have the guts to cut costs and make a business out of the company.
Wall Street hates you currently because you've constantly betrayed it. Shame on you. Shame on you Richard, Mike, Mike, And every member of the Board.
You WILL be held to account.
Karyopharm Has Incurable Spending Diarrhea / Chronic Late Stage Spending Cancer
Karyopharm Has Incurable Spending Diarrhea / Chronic Late Stage Spending Cancer
Last quarter: 80m outflow, 42m inflow. Net: 38m burn. They burned 38m last quarter. 69m R&D and SG&A. 1.5 COGS, 10m interest expense. Inflow: 42m rev, 1.5m interest. There's no reason for these incompetent losers to spend 38m a quarter on R&D !!! The R&D is done already! They don't have the luxury to run a fun science lab any more, employing an army of chemists. Fire them all. the SG&A covers the free lunches they feed their faces with, the 6 figure donations, and other items of that type. All waste of money.
A new competent CEO/CFO can trim these costs by half and show a profit in a quarter or two. And you forgot the converts. They have spending cancer. Don't try to cover it up. Lipstick on this pig doesn't help. First solution is to fire that lousy CEO
Richard Paulson, Mike Mason, Mike Mano’s One And Only Gang That Couldn’t Shoot Straight Charity
In my view: This is time to buy and/or hold $KPTI because of the great science, and seek to oust a weak, lazy, ineffective, incompetent losers of company value: Worse CEO, CFO, Legal Counsel ever. Get these losers kicked out, or the useless Board itself the Directors continue to refuse to act and abide by their fiduciary, ethical and moral duties and hold the loser management accountable by firing them.
A new businessman CEO can turn this company overnight and garner the confidence Wall Street has lost in these losers who keep getting richer as they destroy value because they SUCK as business people.
They should open their own: “The Gang That Couldn't Shoot Straight Charity: Paulson-Mason-Mano: Donate to us and we'll burn through your cash smoothly and make sure we get maximum benefit in doing so, for us, and if you donate, don't ever expect a return because we have no clue how to build a business. We like spending, fun events, free this and free that, and if there’s something left we’ll donate it for you, because we are clueless suckers who have no idea how to run a business and feel privileged to get 100k, 65k, 60k a piece per month for continuing to destroy company value. We Were Born To Burn Cash."
Unhealthy Governance of Karyopharm Needs Urgent Change
Unhealthy Governance of Karyopharm Needs Urgent Change
I emailed Elhan and got a out of office response from her AND Mike Mano, so her emails are being forwarded to Mike Mano too. She's the IR Director who is a fine lady but I think she still works for Mike Mason who is a joke as C-level in charge of IR, thus her effectiveness may be compromised.
CEO Pauslon, CFO Mason, the Board are responsible for the desecration of value, by their chronic spending cancer, running the company like a non-profit charity where shareholders are donors who just give. In a healthy corp., the Board is accountable to shareholders and management's primary job is to build company wealth.
At Karyopharm it's backassward: shareholders are there to quench the Board, management's thirst for fat salaries, giving 6 figure donations, Kilimanjaro trip apparently (per photo), daily catered free lunches, parties, outings, events, fun at the fun science lab - footed by shareholders. They love passive shareholders who just give and remain quiet. Get active.
Millions Paid To The Moronic Management That Has Destroyed The Stock By 95%
Millions Paid To The Moronic Management That Has Destroyed The Stock By 95%
Karyopharm has never been profitable so it was shareholder money (and not profits) that was used to pay useless CEO Richard Paulson, CFO Mike Mason, Legal Counsel Mike Mano, over FOUR (4) MILLION DOLLARS since Paulson became president in 2021, while the stock tanked 91% during the same time and the useless Board endorsed this nightmare performance and is therefore responsible for the decimation of shareholder value.
The same losers of shareholder money who pay themselves fat salaries and bonuses are still at it, and will continue to destroy others’ wealth. Does the have the morality to act right, and fire lousy CEO Paulson who got the company in this hole?
#BelieversintheExtraordinary
#BelieversintheExtraordinary
Running the company like a charity! "Believers in the extraordinary" destruction of value by an incompetent company value losers CEO and CFO who have raked in millions in undeserved salary+bonuses while company value has dropped 90% under their incompetent mismanagement of it.
Ineffective, Weak Management Is Dream Come True For Short
Ineffective, Weak Management Is Dream Come True For Short
Shorts have these useless loser of value under their thumbs. Richard Paulson, Mike Mason, Mike Mano, The Board and whomever else did not come through, have destroyed company value by 91.5% since Paulson was hired. Meanwhile he's made over 4 millions of our money !! Our money, because the company is not making a profit, so shareholders are paying these losers (100k/ month to Paulson, around 60 or so thousand a month to Mano and Mason each...) FIRE RICHARD PAULSON.
That's the only salvation from this spell. Great science needs to benefit patients and shareholders and not only patients and insiders. Shareholders being missing from the equation is because these losers are operating in a false paradigm that resembles more a charity than a for-profit, in my view.
Clueless About Running A Business
Clueless About Running A Business
Lousy Karyopharm governance has forgotten its mandate to drive shareholder value. Instead it runs the company like a charity. Donating 60,000 medical masks, as though it's Red Cross. 6 figure donations, free lunches catered daily for all employees, etc. etc. - splurging like there's no tomorrow. And our horrible CEO said the horrible CFO is doing a great job (in benefiting everyone other than we who pay their salaries). Best place to work, at us shareholders' cost. Fire this CEO. Get a CEO who understands HOW TO RUN A BUSINESS, and stock will go to $5 quickly. Wall Street doesn't like to invest in a Charity that pretends to be a biotech, or the other way around!
About The Horrible CEO
About The Horrible CEO
Here's an inspiration for Karyopharm's inept Board in today's news: "Starbucks replaces CEO with Chipotle CEO".
If Starbucks can do it, you should be able to! Get rid of that horrible, wealth destructing, clueless CEO, Richard Paulson, whom you're paying over a million dollars a year (from shareholder funds), and on his watch, over 91% drop in stock price; over 45% drop in institutional ownership, a very messy finances, lousy performance by a seemingly detached, careless, shareholder despising CFO and Legal Counsel who still get over $60,000 a month and seem to feel no sense of urgency at all; the inept Board continues to pay itself huge sums of money, delays after delays which makes me wonder if it's not in order to extend this profitable gig for all of you, at the cost of shareholders.
I said shareholder despising because that seems to be part of the dysfunctional culture of the "fun science lab" where the spending cancer doesn't like to be held accountable; and shareholders are viewed as ATM machines to be betrayed after providing the cash. Look at the number of people and institutions you have betrayed after taking their money and losing it on your spending cancer and big undeserved salaries and bonuses, daily catered free lunches, 6 figure donations, and you still shamelessly have a page on your site offering grants!!
Maybe Michael Kauffman thought the company is like Roche Foundation because despite being a great doctor and scientist he had absolutely no idea how to run a profitable business and the only other company he ever was a CEO of went bankrupt. So be built this dysfunctional culture for shareholders (it functions perfectly well for enriching the insiders, and benefiting the patients -- oh excuse me, Karyopharm is a Charity pretending to be a Business !).
That false paradigm operated and Paulson found it very comfortable and profitable for himself, so he retained a weak CFO and Legal Counsel to give that paradigm continuity, always relying on getting cash to sustain this misery from his ATM machines (shareholders), and betraying them again - rinse and repeat, and that seemed find as long as he could collect his $100,000+ a month in salary and bonus, perks, free lunches, paid trips, first class hotels, meals and lots of fun company events, etc.
Some of us with a bit of wisdom, common sense and experience dealing with Wall Street advised Richard Paulson when the stock was in the 9's that this modus operandi can't continue without destroying shareholder wealth. But he didn't care. He ignored the calls of several shareholders, including two who were pharma veterans. We even predicted what will happen to the stock if he continues. He continued in his arrogant yet lucrative way (for himself and the Board) and the stock went down over 90%.
Of course, horrible CEOs always have an excuse. The fingers always pointed out towards.
The board is wholly responsible for this nightmare and destruction of shareholder funds. You can put any kind of lipstick you want on this, but you can't hide the fact that Karyopharm's Board Members have allegedly failed their fiduciary and moral (independent of legality) duties.
You will be held accountable.
Notice how the lousy CEO Richard Paulson almost never mentions investors
Notice how the lousy CEO Richard Paulson almost never mentions investors
Notice how the lousy CEO Richard Paulson almost never mentions investors, who are paying his salary as people whom he is mandated to serve. This is part of the dysfunctional culture of the fun science lab, paid vacation club that never respected investors. It goes back to the days of his predecessor lousy CEO Michael Kaufman who never managed a company successfully as CEO before Karyopharm. Him and these losers think they are entitled to shareholder funds. They do a raise, they withdraw the money from the ATM, and say FU to the investors effectively. Rinse and repeat. And the stock kept going lower because of that entitled attitude. Now they've hit the bottom. Let's see if the useless Board wakes up and remembers what its mandate is and how it's accountable to us, to drive value, and bring a new CEO for that simple job in this case if somebody has basic business sense, to start with curing this spending diarrhea and unsustainable cost structure, a major layoff, change of mindset.
Jul 30 2024 Email To Karyopharm
Jul 30 2024 Email To Karyopharm
To: Mr. Richard Paulson and Select Board Members I could find their emails (I do not trust Mr. Paulson or Mano delivering a letter to the Board which calls out their incompetence, irresponsibility -- and the Board's breach of its fiduciary duties to let such incompetence ruin shareholder value).
Some opinions on Karyopharm:
Karyopharm is perennially stuck under the thumb of shorts, not because of its great, life saving science, but because of the self-serving, irresponsible Board, and self-serving, clueless President Richard Paulson, CFO Mike Mason and Legal Council Mike Mano.
I can't believe that after all this time, even at $1 or less, short interest has not covered. Still holders of 20 million shorted shares want the company destroyed. Their puppets are actively disparaging the company, and they know the company has no teeth since the legal department is weak and clueless, and they know no matter what great science unfolds, this President-CFO-LegalCouncil, the gang who can't shoot straight, will screw it up, as they're busy self-serving daily free catered lunch at the fun science lab, which is what Karyopharm is.
K is not a business and is not run like a business. A business runs as a tight ship, to make money. Your clueless, weak President and CFO were busy making 6 figure donations, and ordering free lunches paid by shareholders, and organizing fun events for employees, and handing out freebees to patients, shipping free masks, like you're salvation army.
This splurging sick spending culture was made by Michael Kauffman who never ran a company successfully before and the only other company he was a CEO of went bankrupt. That bankrupt culture benefited insiders. Got the useless, self-serving Board fat salaries for doing nothing, zilch, that made any difference to shareholder value.
Your track record of destroying company value is epic. How and why could such Board and Management be so incompetent to destroy so much value, despite such good science?
Richard liked Kauffman's splurging culture - it would benefit him. So he kept Mano and Mason who were clearly D- or F- players. Look at your track record. Of the insiders I know, I'd say Reshma and Sohanya are exceptions. But this self-serving Board and Management are a disgrace to Karyopharm shareholders in my opinion. Just look at your track record: From $17 to under $1 and still over 20 million shorted shares who are betting on your incompetence to sink this ship.
Shorts are betting you will continue to screw up the best of science, because of your incompetence. They know they can hurt your sales no matter what because of your incompetence and head-in-the-sand approach like Mike Mano's. Reality is tough, so just ignore it.
The cost cuttings you did was at least a year too late. Paulson was warned when the stock was over $10 that the same clueless people doing the same things will not change anything. The stock went $1 and he likes to fool himself babbling about billions in sales and how Selinexor is profitable. Right! Reality is so hard that now enormous quarterly losses are actually just profits !!
I don't know when you will get it. At this rate, you're set to bankrupt the company, but you don't give a damn about that, as long as you can continue getting your fat, undeserved salaries, bonuses, perks, free lunches, fun events, and praise from donors who love you as a charity. Shareholders are not even in the equation and have never been. Just ask Mike Mason how he feels about shareholders. He'll tell you "the suckers are just ATM machines we use to raise more funds to buy more free lunches with, throw more fun parties, give away more 6-figure donations."
Barry Greene, Garen Bohlin and the rest of the clueless Board even endorsed these losers because they like the results - for themselves. They like the status quo that keeps their paychecks coming. Deepa dumped a ton of shares in $6 range right before Siendo bad results. Mano stuck up for her, defending the indefensible. Gang that can't shoot straight.
You forget you're there to build shareholder value. But life doesn't work like that. You will go down in history as the great destroyers of wealth and the gang who had the best cards dealt to them, a great drug, great science, and they screwed it up so bad because of their myopic, self-serving, incompetent, I repeat, incompetent management.
Now that you've repriced your options, maybe at least for your own selfish sake, you wake up to the fact that your good is tied to shareholder good. Unfortunately, in your corporate culture which in my view is crooked, you seem to be content with continuing your fat salaries, because after such destruction you did of company value, I don't think any public company would want to hire you. This entire disaster is first and foremost the responsibility, fault, karma of Richard, Garen, Barry, Deepa, and other board members. You have failed your duties while continuing to reward yourselves and continuing to destroy shareholder wealth. I am not optimistic that this Mason Mano Paulson & Board destructive culture that is a disgrace to shareholders will ever change. But I know there's justice in this universe, and you cannot destroy shareholder wealth and enrich yourselves, and walk away clean. This is not a threat. I am not planning to do anything to you. I am a man of law and order, and laws are on your side and you have abused those exculpatory laws in my view. But universe has its own ways. Maybe call it Karma.
I know shareholders who were destroyed by your actions. I know some who are holding on and still hoping you will change. I don't see how turtles can fly. You get the best of data, and Paulson, Mason, Mano & the useless Board will destroy it by their lack of competence, vision, and what it takes to create success -- and by their selfishness: putting their self interest ahead of shareholder interest (forgetting why they have this job). I also don't think you'd ever be interested in selling the company because it will bring your lucrative, self-centered, profitable gig to an end, because unlike Karyopharm, successful companies have a culture that demands performance, and won't ever pay a CEO like Paulson the 7 figure take-home pay he's undeservedly getting for destroying shareholder wealth (or Mano and Mason's undeserved pay and bonus package).
I am happy to be proven wrong, but that is your track record -- and given my decades of experience as a Program/Project manager responsible for delivery, I believe competence matters. So you may want to consider shaking out the old useless skeletons and bring in new blood, and be ready for the new blood to shake out the rotten status quo that benefits yourselves. Richard should have done that years ago but he was afraid of bringing in anybody better than himself -- a hotshot CFO for example. Typical for weak CEOs. Mano and Mason were perfect carriers of the fun science lab you inherited from Kauffman and destroyed by your incompetence, Richard. If you were competent you would not be afraid of change. It seems that you preferred the status quo because it was profitable for you. It was always about you.
I don't know any other company in my entire decades of professional experience serving world-class companies who would be so irresponsible, so despicably wasteful of corporate resources, to order daily free catered lunches for all employees, paid by shareholders.
Obviously when you're booking huge quarterly losses - burning through tens of millions of dollars of cash every quarter, like it's your grandpa's treasure, your free daily catered lunches are paid by shareholders -- the very shareholders whose wealth you have destroyed by your incompetence and selfishness.
I've never seen a company losing so much money, pretending to be a profitable big pharma. What the heck is this page about? https://www.karyopharm.com/responsibility/grants-giving/ It's a sign of your sick, spending-cancer culture that forgot its identity and purpose that it is a business and not a charity ! ! The result of that spending cancer is the destruction of shareholder value. 2x2 = 4.
Regards
One of many shareholders that the company screwed by its incompetent, self-serving mismanagement
WAKE UP Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su.
WAKE UP Chen Schor, Garen Bohlin, Barry Greene, Mansoor Mirza, Deepa Pakianathan, Christy Oliger, Zhen Su.
These incompetent losers of company value at Karyopharm are spending 10 million dollars a month more than they can afford. Wasting OUR money, our cash, because the sick culture has SPENDING DIARRHEA, SPENDING CANCER. It's a wasteful culture that benefits the insiders: "work" at home with your dog on your lap; at office you get free catered lunch; paid trip to Kilimanjaro; If you're a charity, no problem, we are too: we give away our shareholders' hard earned cash in 6 figure checks because it's not "our" money and we forgot what we were hired to do, and "we believe in the extraordinary" that despite the destruction of company wealth, the CEO still got over $4mm and counting, and the lousy CFO and Legal Counsel a couple of millions each while stock tanked over 90%, and the useless Board got 150k package each for doing NOTHING that helps company value. They WILL be held to account. Quickest solution: fired this lousy CEO Richard Paulson, and bring a CEO who can lay off half the useless staff.
Satire
Funny one posted by a shareholder. Shows the level of frustration at Mike Mason the CFO, and the loser-of-value CEO Richard Paulson and the millions of our money paid to him by the useless Board of Directors while he destroyed the stock by 95%.
Fishy Trading of Insider / Fund Manager Deepa Pakianathan of Delphi Ventures
Fishy Trading of Insider / Fund Manager Deepa Pakianathan of Delphi Ventures
I find it hard to believe Karyopharm Director Deepa Pakianathan is batting for shareholders which is what she’s paid to do. Could it be that she’s batting for the funds that she is a manager of, or their buddies? She sold a ton of shares right before the bad Biogen/KPTI news was released. She started selling at $6.50 and the stock has never been that high either ... well, it went down to under $0.70 - that's 70 Cents. Did they then go short, knowing the disaster that Richard Paulson and his weak team Mike Mason and Mike Mano would endow on the company value? I don't know the answer.
Did they keep shorting in the 5’s and 4’s … down to 1’s? Could they be a Big Short, comfortably sitting on that position with one of their managing directors on Karyopharm’s Board? What’s their next plan? Take the company bankrupt, buy it for pennies and sell it to Pharma for billions? We can be sure Paulson, Mason, Greene, et al. will continue their splurging and wasting shareholder wealth, and apparently don’t give a damn like they haven’t since the stock was 10+ times higher.
I’m not accusing her but these are questions that cross my mind. Certainly SEC and FINRA could find out.
We have a lot to find out about this creepy Board and Management that has destroyed company value while paying themselves big money. The CEO made over $4 million as share price dropped over 90%.
~~~
Stealth Oncology Company, Palleon Pharmaceuticals
Delphi Ventures, Theravance Biopharma US, Enavate Sciences
Welcome To Karyopharm Fun Vacation Club, Funded By Shareholders
Welcome To Karyopharm Fun Vacation Club, Funded By Shareholders
This is how these irresponsible, incompetent losers of our money destroy great science by failing to gain the value it deserves. Work with your dog on your lap, means no work. Welcome to Karyopharm vacation club, lavish irresponsible spending, run like a charity, the lousy Board and CEO have no sense of accountability apparently because it's accepted that this is not a business but a fun science lab.
Time to fire this lousy CEO and bring this lousy Board before a court.
Karyopharm (KPTI) Great Scientific Company Ruined By A Lousy Board, CEO, CFO, Legal Counsel, Who Have Been Incompetent In Driving Company Value
Karyopharm (KPTI) Great Scientific Company Ruined By A Lousy Board, CEO, CFO, Legal Counsel, Who Have Been Incompetent In Driving Company Value
The horrible Karyopharm CEO Richard Paulson should be fired. He has made over $4mm in the last 3 years while the stock tanked 91%. Incompetent in driving value except for himself. The horrible CFO Mike Mason & horrible Legal Counsel Mike Mano made over $2mm each during the same period. Fire the gang that can’t shoot straight. Otherwise they will continue to ruin great science while getting richer. The useless Board will be held accountable.
Karyopharm has never been profitable so it was shareholder money (and not profits) that was used to pay useless CEO Richard Paulson, CFO Mike Mason, Legal Counsel Mike Mano, over FOUR (4) MILLION DOLLARS since Paulson became president IN 2021 while the stock tanked 91% during the same time and the useless Board endorsed this nightmare and is therefore responsible for the decimation of shareholder value. The same losers of shareholder money who pay themselves fat salaries and bonuses are still at it, and will continue to destroy others’ wealth unless they find the morality to act right, and fire the lousy executives who got the company in this hole.
RICHARD PAULSON'S GOT IT MADE: MAKING ABOUT $100,000 A MONTH WHILE ON HIS WATCH AS CEO KPTI STOCK HAS DROPPED 91.5 % AND AT THE SAME TIME HE MADE OVER 4 MILLION DOLLARS
RICHARD PAULSON'S GOT IT MADE: MAKING ABOUT $100,000 A MONTH WHILE ON HIS WATCH AS CEO KPTI STOCK HAS DROPPED 91.5 % AND AT THE SAME TIME HE MADE OVER 4 MILLION DOLLARS
Richard Paulson, the man responsible for burning through millions of shareholder funds, destroying shareholder value, and providing catered free daily lunch to all employees, and providing other perks to the benefit of the insiders, and making 6-figure donations. All paid by shareholders since the company is still losing money like crazy. Paulson has made over 4 million dollars in undeserved salary and undeserved bonuses, in my opinion.
DISCLAIMER: All the writings on this page are the author's opinions. If you find anything on this page to be factually false, please send me the correction via the contact page, with the evidence (reference). This page does NOT provide investment advice. Do your own research.
Paulson's Bank Account Growth
Paulson's Bank Account Growth
Anybody knows what Richard Paulson meant by babbling "next stage of growth", "good optionality", blah blah? Company value has been tanking since he took office by 91%. I guess he's talking next stage of growth of his bank account? He's made over 4 million dollars since he too office. I guess Optionality just means "I'm going to try to bullshit my way through the rest of this investor call I don't want to be on because investors are just nuisance except for their money which I like (spending, and the salary and bonus they pay me)".
Lousy CEO Richard Paulson Has Raked In Over Four Million Dollars Since He Was Hired In May 2021 While Stock Price Has Tanked 91.5% On His Watch And He's Still Feeding Investors BS Promises To Cover Up For His Incompetence In Driving Company Value
Lousy CEO Richard Paulson Has Raked In Over Four Million Dollars Since He Was Hired In May 2021 While Stock Price Has Tanked 91.5% On His Watch And He's Still Feeding Investors BS Promises To Cover Up For His Incompetence In Driving Company Value
Lousy executives in my opinion:
- CEO Richard Paulson has made about $4.15 million since May 2021. The stock has lost 91.5% since then !! Paulson still makes about $100,000 a month.
- CFO Mike Mason has made about $2.4 million since 2021. Mason makes about $58,000 a month.
- Legal Counsel Mike Mano has made about the same as Mason. He seems to make about $55,000 a month. He managed to dodge the public reporting for 2023.
They're lousy in my opinion because they have been most ineffective and have shown to be totally incompetent in driving company value. The stock price doesn't lie.
8 August 2024 - Richard Paulson (CEO), Mike Mason ( CFO) have gotten used to BS'ing the investors. That's one factor in their incompetent destruction of company value. They both need to be fired.
8 August 2024 - Richard Paulson (CEO), Mike Mason ( CFO) have gotten used to BS'ing the investors. That's one factor in their incompetent destruction of company value. They both need to be fired.
Richard Paulson (CEO) and Mike Mason (CFO)'s Scheisse talk. More reason they both need to be fired. "our next stage of growth" -- you haven't grown at all except your own bank accounts. Management 101 lesson for lousy CEO, Richard Paulson: Company growth is measured by increase in company value. You have destroyed company value, and caused the company to lose hundreds of millions of dollars in value, due to your mismanagement. So stop your rhetoric of growth unless you're referring to your own bank account funded by shareholder money, paying you an undeserved salary and bonus for destroying shareholder wealth. Shame on you for calling that "growth".
"we will be opportunistic: means scheisse.
"we will recognize the value" means scheisse.
"good optionality" means scheisse.
"disciplined cost management" ???? how dare you say that. You were late at least 1 year in layoffs.
Mike Mason's usual blah blah... cash runway till beginning of 2026 "EXCLUDING" the 50 million we have to come up with by October 2025. Minor detail !! Another sign of a lousy CFO who is used to dishing out BS to investors he apparently hates because he's ultimately accountable to investors and being so incompetent in driving shareholder value, he doesn't like accountability.
Paulson jumps in and changes the topic because they've gotten used to BS'ing investors as they burn through hundreds of millions in cash and deliver no results that positively impact growth in company value. These in my opinion, useless, self-centered guys who have ruined company value, are used to just brushing aside important details. How can you just ignore 50 million dollars due in 2025 and say you have enough money till 2026 excluding that... minor detail !!
I believe these lousy executives have no intention to sell the company even with the best of data because they'll be the first ones who will get fired by the Pharma, because successful Pharma executives see right through these guys' track record of destroying company value at Karyopharm.
I believe Richard Paulson's priority is to extend the undeserved monthly $100,000 or so he makes, despite that kind of scheisse track record of destroying company value.
~~~
I have lost enough money in this company that I am perfectly positioned to participate in bringing justice to this disgraceful governance that has consistently destroyed shareholder value while giving itself fat, undeserved salaries and bonuses. Several other investors I know are interested and together we can bring you down. Never underestimate us. We brought down two former horrible CEOs of biotechs before suing every Board member, and their exculpating clauses wasn't going to help them.
You can't pay yourselves big remuneration with shareholder money while destroying shareholder wealth, whatever your excuse may be, and you always have excuses like ineffective Boards and management do.
7 August 2024 - Self-Centered, Shareholder Value Destroying CEO, CFO, Legal Counsel. Analysts Frustrated About Continuous Delays. Are Delays a Way for the Lousy CEO and Board to Give Their Undeserved Salaries/Bonuses Continuity?
7 August 2024 - Self-Centered, Shareholder Value Destroying CEO, CFO, Legal Counsel. Analysts Frustrated About Continuous Delays. Are Delays a Way for the Lousy CEO and Board to Give Their Undeserved Salaries/Bonuses Continuity?
5 times delay! One analyst wrote he's about to give up. They know the science is great. But the Self-Centered CEO Richard Paulson, CFO Mike Mason, Legal Counsel Mike Mano are bound to destroy great science because they seem incompetent in driving company value. Paulson dishes out BS. "2B sales", "stringent cost cutting"... KPTI has spending cancer since Kauffman. Everyone else benefits at expense of shareholders. 6 figure donations; daily free catered lunches. Mason is the big issues. Paulson kept him b/c the sick culture benefits Paulson.
A hotshot CFO would take the bull by the horns. Mano is as bad. They wrongly think online defamation is not actionable, b/c they are so incompetent in driving company value. 20m short have them under their thumbs. Board is useless, self-centered. Deepa probably represents the shorts. She dumped ton of shares right before first Siendo results! Greene & Co. are a disgrace, and have destroyed value($25 to $0.80). Delays appear as strategy to sustain their self-profitable gig. All IMHO
Buy Rating Affirmed for Karyopharm Therapeutics Amid Strong Q2 Performance and Positive Xpovio Sales Outlook
Buy Rating Affirmed for Karyopharm Therapeutics Amid Strong Q2 Performance and Positive Xpovio Sales Outlook
https://markets.businessinsider.com/news/stocks/buy-rating-affirmed-for-karyopharm-therapeutics-amid-strong-q2-performance-and-positive-xpovio-sales-outlook-1033653303
Upcoming Events The Ineffective Management Will Burn A Ton of Cash At
Upcoming Events The Ineffective Management Will Burn A Ton of Cash At
§ Morgan Stanley 22nd Annual Global Healthcare Conference on Wednesday, September 4th
§ Baird Global Healthcare Conference September 10 - 11, 2024 InterContinental New York Barclay, 111 East 48th Street , New York, NY
§ ESMO 13 - 17 Sep 2024 Barcelona, Spain
§ IGCS October 16 - 18 for the IGCS 2024 Annual Global Meeting
Congress on Myeloproliferative Neoplasms (MPN Congress), scheduled for October 24-25, 2024 at the New York Marriott-Brooklyn Bridge in Brooklyn, New York.
3 August 2024
3 August 2024
The medical aspect is beyond my pay grade. In principle competition is not a bad thing - it confirms the viability of the market. But I don't know what significant of pMMR is in Selnexor's case. But I couldn't disagree that more capable hands is a good thing. It's very simple. They've been total failures in capitalizing life saving unique great drug. Related idea for BP, GSK or others, crushing KPTI as a competitor is easy. They just have to hire some more prostitute doctor shills like in the case of MM, to bash Karyopharm. Mike Mason is a gift to shorts and Mano is as toothless as a legal counsel can get, in my view. The look constantly baffled at how the hell the stock got from $25 down to $85 cents, on their watch. Can't be anything they're doing, cause they ain't doing much as far as I can tell. Over $50,000 a month package for being baffled clueless "executives" who can only execute destruction of shareholder wealth. Just look at their track records.
Medical Doctor Shareholder: "I am publicly asking @BarryGreene to step down as Chair of $KPTI"
Medical Doctor Shareholder: "I am publicly asking @BarryGreene to step down as Chair of $KPTI"
https://x.com/duedoctor/status/1820831114061111394?s=46
Which planet is this CFO Mike Mason From?
Which planet is this CFO Mike Mason From?
https://www.fool.com/earnings/call-transcripts/2024/08/06/karyopharm-therapeutics-kpti-q2-2024-earnings-call/
Mike Mason -- Chief Financial Officer
"We realized the importance of extending that cash runway. We have three pivotal readouts. First one is myeloma, which is in the first half of 2025. Second one is myelofibrosis in the second half of 2025 and the third in endometrial in early 2026. So putting all those together, our cash runway gets us into the early 2026, excluding the convert that we have due in October 2025."
That convert costs them 50 million !!! And he just excluded it from the cash runway !!
But cash runway for these guys who are part of the "spending cancer" in my opinion, is irrelevant. I remember them saying ya we have a lot of money and long runway blah blah but turn around and dilute the daylight out of the stock.
~~~
Mike Mason (CFO) totally appears to me to be totally careless about the stock price, as long as he gets his about $65,000 a month in salary and bonus. Even if the stock goes to zero he doesn't give a damn and he'll even be happy because of all those shareholders who called out what a horrible CFO he is.
Great Science In Hands Of Inadequate Management
Great Science In Hands Of Inadequate Management
Is selinexor the magic drug in NSMP endometrial cancer ? #esgo2024 An engaging discussion by Dr Sehouli https://x.com/TeamEndo_MSK/status/1765769680453537821
~~~
@BPothuri "we haven’t seen results like this [SEINDO1] in p53wt pMMR... really important we get that trial finished [Xport-EC-042] so we can have access to another therapy to help our patients in the frontline & maintenance setting".
~~~
Jonathan Wexler @WexCapital Jul 31 2024 -- Debby is still alive because of $KPTI @mlazaru - she's done a Car-T and a new Janssen drug in the last two years (Janssen drug still working). Any time she fails something she gets CR from Selinexor and tries something else. Michael Kauffman should win the Nobel Prize [but a grade F for building such a wasteful and shareholder unfriendly culture]. https://x.com/WexCapital/status/1818701202236096981
~~~
"Strength of the data unparalleled... remarkable TSS50 & SVR35 + impressive durability"... CMO Reshma Rangwala
~~~
Dr. Coleman & @FBackesMD @IGCSociety "...I think one of the kind of things that for me has been so transformative was to look at the PFS curves & the tail of those curves that don't drop so we love to see OS but to see a patient who never reccurs that's transformative"
~~~
Emerging Era of Combination Therapy in Myelofibrosis Explored in SENTRY Study https://www.targetedonc.com/view/emerging-era-of-combination-therapy-in-myelofibrosis-explored-in-sentry-study
To: Board members who might have some morality left -- 1 August 2024
To: Board members who might have some morality left -- 1 August 2024
Rule #1: you can't have the same people do the same things and expect different results.
Deepa dumped a ton of shares in the 6's right before the Siendo bad data. Classy!
A lawyer I know who used to work with Mike Mano sold his shares in the 6's because of hid dislike of the management and not thinking highly of Mano.
I had a call with Mano. He's in another universe.
Mike Mason despises shareholders. He's a disaster in so many areas: presentations, the way he moves, dresses, conducts himself, his lack of interest in investor calls on video, jittery - doesn't want to be there. Regardless I believe he's a D- player. Mike Kauffman brought him and Mano -- both are Mikes like him -- and both are quite low caliber. Great CEOs bring people who are better than themselves. Kauffman and Paulson are the reverse. Paulson has been a big beneficiary of the status quo. Count how many millions he's pocketed in undeserved salary and bonuses and perks while he's destroyed shareholder value.
Garen and Barry and y'all are also beneficiaries of the status quo. You get paid for doing nothing - attend a few meetings - and just let the dysfunctional status quo, the spending cancer, the ineffective management just go on -- same story that got the stock from 25 to 90 cents.
But by doing so, you're breaching your fiduciary duties including oversight -- and you being immoral for breaching those duties, in my view. Legally you're covered. Delaware law makes it very hard to go after you. But at a minimum you should have morality. You should demand a change to this nightmare management that has got the stock from 25 down to 80 cents and there's still a 20 million short interest and their paid, shill doctors who are doing far better job of dissuading people against Selinexor than your sales and marketing teams.
And they're thirsty for the last drop of the company's blood, and know they can get it because of toothless people mentioned above who have pocketed millions in remuneration and done nothing for it that fulfills why they have that job : build company value. They've given 6 figure donations, free daily catered lunches, thrown tons of company parties, outings, events, like money grows on the walls, and they hate shareholders who hold them to account.
But YOU have a moral duty to stand up for what's right and replace these people, or give them an ultimatum : perform or out! But they can't perform because turtles can't fly.
In my opinion, Paulson hides behind that beard and laughs his way to the bank every 2 weeks, thanks to shareholders he's thrown under the bus, as the stock tanked from the teens to under $1 on his ineffective, self-centered, irresponsible watch, and your immoral disregard for you moral and fiduciary duties of oversight, and making sure the executive team does what it is paid to do: build company value, and not run a fun science lab and splurge like there's no tomorrow, which is exactly what they did for years, and finally sugar started hitting the fan and they did a superficial cost cutting at least 1 year too late.
All the above are my opinions. I'm calling to your morality, if you have any, to think solutions, next time you get your direct deposit from Karyopharm, funded by shareholders you've thrown under the bus.
Their habit is to shoot and try to discredit the messenger. But numbers don't lie. Teens to 90cents on Paulson's watch. 20's to 90 cents on Mano / Mason's watch.
Morality means your future well being depends on it. We are what we do. You act morally now, and do something for what you're getting paid for, instead of being some Yes Men/Women at a board meeting, letting status quo go, endorsing D-players, and enjoying the money you got for not only doing nothing - destroying company value. It's harsh but it's reality. Get a 5 year stock chart.
Regards
Since May 2021, Richard Paulson Has Racked In Over $4 million For Himself As Share Price Has Dropped 91%
Since May 2021, Richard Paulson Has Racked In Over $4 million For Himself As Share Price Has Dropped 91%
Richard Paulson has been a CEO since May 03, 2021.
https://www.prnewswire.com/news-releases/karyopharm-announces-the-appointment-of-richard-paulson-as-president-and-chief-executive-officer-301281731.html
On 3 May 2021 KPTI stock closed at $9.44
Today, 8 August 2024, after 3 years of miserable, lousy, self-centered mismanagement of CEO Richard Paulson and the useless Board of Director who enabled him and his gang of CFO and Legal Counsel who can't shoot straight, the stock is 0.81 - that's EIGHTY ONE CENTS. DOWN FROM 9.44. That's a drop of 91%.
On Richard Paulson's watch the stock has dropped 91%.
Richard Paulson Has Racked In About $4,000,000 For Himself As Share Price Has Dropped 91%
2021
Paulson 2021 Base Salary: 670,000 + 435,500 = 1105500 (and he only "worked" since May)
Mike Mason: 455,000 + 182,000 bonus = 637000
https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=116612136&type=PDF&symbol=KPTI&companyName=Karyopharm+Therapeutics+Inc.&formType=DEF+14A&dateFiled=2022-04-08&CK=1503802
In 2022
Paulson 696800+452290 = 1149090
Mason 472000 + 193048 = 665048
Mano 450000 + 184050 = 634050
https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=317378380&type=PDF&symbol=KPTI&companyName=Karyopharm+Therapeutics+Inc.&formType=PRE+14A&dateFiled=2023-03-31
in 2023
Paulson 740000 + 456950 = 1196950
Mason 500320 + 191623 = 691943
Mano - not listed - he probably set it up so he's not on that list so we don't know how much he made but it seems to be more than 2022 and at least
https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=318224128&type=PDF&symbol=KPTI&cdn=8625f2bfb6db9a5b9048d95c895bc330&companyName=Karyopharm+Therapeutics+Inc.&formType=PRE+14A&dateFiled=2024-04-08
Karyopharm's lousy, self-centered, failure CEO Richard Paulson made $3,451,540 between May 2021 and December 2023 !!
Karyopharm's lousy, selfish, failure CFO Mike Mason made $1,993,991 between May 2021 and December 2023 !!
Add 7 months of 2024 and we get
§ CEO Richard Paulson has made about $4.15 million since May 2021. The stock has lost 91.5% since then !! Paulson still makes about $100,000 a month.
§ CFO Mike Mason has made about $2.4 million since 2021. Mason makes about $58,000 a month.
§ Legal Counsel Mike Mano has made about the same as Mason. He seems to make about $55,000 a month. He managed to dodge the public reporting for 2023.
They're lousy as executives, in my opinion, because they have been most ineffective and have shown to be totally incompetent in driving company value. The stock price doesn't lie.
HERE'S THE FUN SCIENCE LAB (KARYOPHARM)'S GIVEAWAY PAGE. THEY FORGOT THEY'RE NOT ROCHE FOUNDATION OR SOME SIMILAR ENTITY WHICH IS ROLLING IN CASH.
HERE'S THE FUN SCIENCE LAB (KARYOPHARM)'S GIVEAWAY PAGE. THEY FORGOT THEY'RE NOT ROCHE FOUNDATION OR SOME SIMILAR ENTITY WHICH IS ROLLING IN CASH.
https://www.karyopharm.com/responsibility/grants-giving/
Archived copy: https://archive.is/bdZ67
WORST CEO, CFO, LEGAL COUNSEL IN BIOTECH
WORST CEO, CFO, LEGAL COUNSEL IN BIOTECH
In my opinion Karyopharm has the worst CEO, CFO and Legal Counsel in biotech / healthcare industries: Richard Paulson (CEO), Mike Mason (CFO), Mike Mano (Legal Counsel).
The co-founder, Michael Kauffman was a disastrous CEO. On his watch the company's shareholder value tanked. On CEO Richard Paulson's watch the shareholder value tanked even more (over 90%), while the useless Board of Directors gave themselves and management fat salaries and undeserved bonuses. The company continued the culture of spending like it's the Khalifa's treasure chest -- a sick spending culture that was inherited from Michael Kauffman's days of total mismanagement of company funds: the company continued making 6-figure donations; they provided catered free lunch for all employees, every day -- and we're talking about hundreds of employees -- paid by shareholders. Their attitude towards shareholders was their ATM machines, which they went to when they needed cash, and walked away effectively flipping the shareholders. How do you expect Wall Street and other investors trust this management team, this sick culture, which Richard Paulson maintained because it was profitable for himself and the Board (who doesn't like a free lunch, a 7 figure salary and bonuses)? Paulson inherited that culture and sustained and maintained and perpetuated it by keeping Mike Mason and Mike Mano whose caliber for what Karyopharm needs is questioned by myself and some other investors, including someone who worked with Mike Mano. They both have been disasters, like that horrible CEO Richard Paulson -- all in my opinion.
So the stock tanked from a secondary they did not too long ago in the 20's -- to 15's - to 10's and now it's struggling in the 1's and it even went below $1 for a while and risked being delisted from NASDAQ. That's what horrible, ineffective management can do to a company with great science.
Of course, horrible management likes to point the finger outside - blame it on this and that. But these clowns dropped the ball so many times by e.g. over spending, not cutting costs in a timely manner, totally ignoring organized, professional disparagement orchestrated by hedge fund shorts through their shills including some medical doctors -- that hurt their sales.
I used to provide and track news, analysis, commentary on this page but shifted gear after I came to the conclusion that this company is hopeless as long as this lousy management team is running it. Of course there are also competent people in the management team, like Sohanya Cheng and Rashma Rangwala, but you can't run a company with such weak CEO, CFO and Legal Counsel.
Some updates provided below. I wrote a lot of letters to the company -- and by our investor group - and we warned Richard Paulson when the stock was $10 but he ignored us and now the stock is $1. Congrats to horrible management who have made a killing paying themselves a ton of money. But they're ultimately losers because their stock options could have been worth a lot more.
Future? They have important phase 3 data coming up but I am not putting money on this team as they will probably screw up the good data because of their incompetence in driving company value, just as before. The gang that can't shoot straight. In my opinion.
7 Questions for Karopharm Executive Management
7 Questions for Karopharm Executive Management
Dear Elhan
I know the management doesn't like to be held accountable to shareholders and has historically viewed shareholders who like the management to do what they're trusted to do (build company value), as nuisance, but you're a fine woman and hopefully can answer these questions. I like Sohanya Reshma and yourself -- and was hoping you can bring some sense to this otherwise nonsensical picture where executives have just destroyed shareholder value for the millions in pay they receive -- just look at the market cap and stock price since Richard took over as CEO.
I picked up a few shares recently because of the upcoming readouts, which you turned around and delayed - for the 5th time !! And there's always an excuse, and they're usually because of not being proactive enough, and despite paying Richard about $100,000 a month (in salary and bonus), the driving of company value has been extremely incompetent, and non-existent. Instead of executives driving company value, shareholders are paying hefty incomes for the executives who have been destroying company value. Sounds harsh but it's a fact. Numbers don't lie. Look at your market cap.
1) I see a 488k revenue from Antengene. Could you remind me which countries Antengene is selling Seli in. And why is the revenue so low? One reason I can think of is the professional counterfeit operation in China I sent you notice of, which was probably ignored like so many other things. The Chinese market must be flooded with deeply discounted Seli.
2) You totally neglected the converts while quoting cash runway. How do you justify that?
3) Richard keeps talking about next stage of growth. What growth is he referring to (other than his bank account that has grown by 4 million dollars since he became a CEO in 2021) ? The most important growth measure is company value, which has shrunk close to 90% since Richard took office.
4) Richard keeps talking about 2 billion in sales. None of the analysts have projected anything even close to that. How do you substantiate that 2 billion projection?
5) Short interest is still at 20 million. It seems the shorts have no plans in covering given their strong faith in the executives to continue driving company value down. The company has historically ignored this topic, and ignored the professional, orchestrated disparagement of its products, and is on record for saying online defamation is not actionable. We've seen the consequence of your Legal department's ultra passive, timid stance that shorts recognize, coupled with the financial lack of discipline (chronic spending culture). Has anything changed in that regards? Is the company ever going to stand up for itself or continue being a soft punching bag for the shorts who have seriously hurt your sales by negative advertising.
6) Richard touts disciplined cost controls. Numbers say something else. Numbers say a very small, ineffective, superficial cost cutting. What are some of the cost cutting steps you've taken?
7) Richard keeps repeating "good optionality" ... what does that actually mean? To me it sounds just like jargon, lip service, filler phrase like "we will be opportunistic", which say absolutely nothing but continuation of a status quo that has seen Richard's wealth soar by over 4 million in salary and bonuses since 3 May 2021 (and about 2 million each for Mike Mano and Mike Mason) while the stock has tanked 91.5% since Richard took over, and shorts have the company squarely under their thumb (20 million shares). [Plus millions in stock options].
I would appreciate a prompt answer.
Thanks and Regards
Occam's Razor
Occam's Razor
An investor wrote: "Radical cost saving would have been long overdue here but the 'management' do not even seem to consider it. Occam's Razor tells me they are deliberately bankrupting the company so that it can be sold to some third party for pennies on the dollar."
Richard Paulson's wicked behavior, asset destruction, keeping some very weak people in key roles, living it up, no financial discipline, toxic deals, bad deals, missed opportunities, delays, gross asset wastage, running a "vacation club" culture, giving away 6-figure donations while losing millions, destruction of a billion in MC, all funded by us, to our detriment, to the benefit of insides, short sellers and crooks who have bet against the company -- and the Board's wicked backing of the CEO, all support your parsimony principle. The problem is they will be held accountable in a big way legally, which they will not like, if they don't radically change, which requires firing Paulson, unless the Board is in on this scandal.
"A company with $140m revenue p.a. should not be going bankrupt even if there is no growth. This is C-Suite sabotage and somebody has to go to jail for it. Even a financially illiterate person understands what has to be done urgently but the management do not take any action."
Letter to the Board
Letter to the Board
[Some of the text of the letter plus other sections that are elsewhere on this web page.]
Barry Greene: I request that you please send a copy of this email to all Board members. I've copied it to: Mr. Schor, Mr. Zu, Mr. Bohlin, Ms. Pakianathan, and Mr. Paulson who has been a total failure and incompetent in driving value except for himself (and you all for yourselves): he raked in (you paid him) over $4 million in earnings while stock has dropped 91.5% on his watch, and his ineffective mismanagement will screw every other good data in the future, so the sooner you fire him the better.
CFO Mason and Legal Counsel Mano who raked in over 2 million each during the same period as the Board and this gang that can't shoot straight decimated company value by 91% (and closer to 100% if you go back another year.
This disaster cannot go on without each and every Board member not being held liable in a litigation for breach of your duties, a class action to get every undeserved penny you all were paid by shareholder funds returned to shareholders, or a Derivative lawsuit.
It's long overdue. The Board should fire this useless CEO, abide by its fiduciary duties and stop this mutual backscratching that just enriches the insiders at the cost of shareholders. Even the analysts are fed up. Their clients bought their story based on good science, and could never imagine such incompetence in screwing up company value by this gang who can't shoot straight (with exceptions, e.g. Sohanya, Reshma).
IN MY VIEW, RICHARD PAULSON IS ALL ABOUT LIP SERVICE AND SUSTAINING HIS OWN PROFITABLE MILLION DOLLAR GIG FOR HIMSELF
Paulson bragging about cost cutting is just lip service. The company has spending cancer at its very core. The only way to "treat" is is to get rid of this horrible gang who has destroyed company value, and is still at it with its clueless, careless, easy life, and no sense of urgency, no sense of responsibility because it has always hated shareholders, and viewed them as just annoyance and ATM machines to feed the spending cancer. This company is rotten to its core in terms of incompetent destruction of company value. The stock price doesn't lie. And YOU, the Board members are responsible for this horrific destruction of company value.
Everyone sees through Paulson's rants e.g., about 2 billion in revenue, "next stage of growth", "being opportunistic", "good optionality", BLAH BLAH -- after 3+ years of Paulson's nightmare mismanagement, investors see right through his B.S., and analysts know even if you had the greatest product in history, this useless gang that can't shoot straight would screw it up.
Shorts are jumping in joy meanwhile, counting on your gang that can't shoot straight, and are thrilled in knowing that Paulson, Mason, Mano will surely screwup everything in the future just as they've done in the past (measured by company value), and these same losers who got 4+ million for themselves since Paulson's gig, paid to them by the lousy, ineffective Board -- are bound to see the stock keep going down to a point where the company will finally get taken over by a hedge fund or a pharma for pennies on the dollar, BECAUSE OF THESE LOSERS in key posts. They will keep losing shareholder value because they are INCOMPETENT in driving company value.
How difficult is it for the useless Board to grasp these concepts? How many more millions should these losers be paid with the HOPE of them finally caring about company value or even worse, for them to become CAPABLE? Turtles can't fly. Paulson+Mason+Mano are bound to destroy Karyopharm shareholder value completely, in my view, based on their pathetic past performance.
ANOTHER DELAY BY THE USELESS GANG
IT STINKS WITH APPEARANCE OF: "WHO CARES, WE JUST GET MORE MONEY FOR OURSELVES THE LONGER THIS TAKES -- GREAT DATE = BUYOUT AND END OF OUR PROFITABLE GIG. I AM NOT CONFIDENT THIS IS NOT WHAT GOES THROUGH YOUR USELESS CEO, CFO, BOARD MEMBERS' MINDS.
Did Paulson do everything a great, competent, proactive and CEO could do, avoid five times delays??? I'm willing to bet the answer is no just knowing how incompetent is gang is in driving company value.
ONE OF MANY SIGNS OF KARYOPHARM'S CHRONIC SPENDING CANCER
Administrative Assistant – Job ID 2023-2182 - "Order, set up and clean daily catered lunches for all employees".
The very fact that this and many many other such facts exist, is evidence of deep rooted rotten spending cancer at Karyopharm, and a sick, cancerous attitude towards spending shareholder money. It seems that SHAREHOLDER VALUE IS NOT TAKEN SERIOUSLY BY THIS LOSER CEO, CFO...
Karyopharm Board Has To Force Richard Paulson To Stop Wasting Shareholder Assets, And Fire Him To Restore Trust
Karyopharm Board Has To Force Richard Paulson To Stop Wasting Shareholder Assets, And Fire Him To Restore Trust
In the new year Richard Paulson & KaryoFUN’s pathetically unproductive and wasteful culture are prepared to give away hundreds of thousands of our money to charity, despite booking millions in losses. That’s a part of the sick culture that Paulson can’t cure because he is the root cause: chronic spending diarrhea which arises from having no sense of austerity, accountability, responsibility, fiduciary, and no sense of what driving bottom line means.
Paulson is about wasting shareholder assets on himself and insiders and charities and everybody else, instead of running a tight ship which is a key factor in value creation, for shareholders, which is what he was hired to do. There’s too much evidence of him wasting our money, to ignore it, and they all portray a CEO whose head is somewhere else, and surely not remotely focused on creating value because he’s so incompetent at it, and has never done it for a distressed entity.
Paulson has never worked for a financially weak company. And he’s too weak to pull the plug on so many things, because he doesn’t want to impact his own splurging, e.g. his recent plush trip to California which was a total waste of time and money and resource for shareholders, but given he’s so incompetent in creating value, he seems to think spending heavily brings value. So, he gives 100k to just one charity, and they give away a lot more because Paulson is confused. He thinks a big part of his job is socialization, blah blah. He doesn’t get it that this is business and every penny count. Every penny wasted directly impacts the bottom line.
This wasteful attitude and keeping weak people like Mike Mano in key roles, has devastated the stock and confidence in Paulson as CEO, and therefore demand for shares, and therefore, company value. There is a valuation crisis, a demand crisis, and the Board must act, and do so urgently, by removing this curse which has destroyed almost 98% of KPTI value by his incompetence (or corruption if he’s compromised and wants to hand over the company to beneficiaries other than shareholders, whom Paulson et al seem to have always hated because they don’t seem to like accountability). The house is on fire. The Board must act quickly. It is responsible for this mess, and will be held accountable.
Paulson Mixes Up Concepts Again
Paulson Mixes Up Concepts Again
https://www.linkedin.com/feed/update/urn:li:activity:7273001046157705216/
"We are proud to announce that Karyopharm has been named one of the Boston Globe's Top Places to Work in 2024. This recognition is a testament to our incredible employees whose passion and dedication drive our mission every day. Thank you for making Karyopharm a place of 'Boundless Opportunity. Work fit for life'." https://www.bostonglobe.com/2024/12/04/magazine/top-large-companies-to-work-for-in-massachusetts/
Wait, this recognition is NOT any testament about the quality of the employees, it's only a testament that you've spent a ton of shareholder money building a "vacation club" culture that you even call it "work fit for life", and the prime beneficiary has been yourself, at the cost of shareholders.
Lisa DiPaolo is no genius: you throw money at any organization, it can become the best place to work. Just that some other CEOs who have a sense of responsibility to their charters (create shareholder value) don't like to splurge like the KaryoFUN culture does.
https://www.linkedin.com/in/richard-paulson-462536/ “Pfizer South Africa recognized as one of the Top South Africa Employers.” Paulson prides himself of making places that are really great for the employees. But the only reason CEOs do that is to increase productivity which helps the bottom line. That’s cold-blood business. Yes, having happy employees and good morale is extremely important, but if there’s no business, no money, there’s no employees. Paulson doesn’t seem to grasp that simple 2+2=4 concept.
Also, looking at Paulson’s resume, there’s no sign of any distress / extreme, turnaround management. It’s all about rich companies he worked for. Wrong man for what KPTI is going through – uncharted territory for him, and esp. given his horrible track record at KaryoFUN, lack of turnaround experience makes him dangerous for the company.
Most importantly: effective business leaders know the significance of happy employees. It's not an end to itself. It's a mean to a business end as well as the human level: improved productivity / creativity, improved bottom line. Competent business leaders have their eye on that ball: they adhere to their mandate: create value. Not in Richard Paulson and the useless KPTI Board's world.
CEO, CFO, LEGAL COUNSEL HAVE BEEN PAID OVER 4 MILLION DOLLARS SINCE 2021 WHILE STOCK TANKED 91% - PLUS A TON MORE IN EQUITY COMPENSATION
CEO, CFO, LEGAL COUNSEL HAVE BEEN PAID OVER 4 MILLION DOLLARS SINCE 2021 WHILE STOCK TANKED 91% - PLUS A TON MORE IN EQUITY COMPENSATION
Richard Paulson has made over $4 million since 3 May 2021 plus equity compensation which is in millions, and the stock, on his watch has dived over 91%. It's long overdue to put the company in the hands of a capable CEO. Richard has been a horrible, ineffective CEO who has raked in 4 million for himself and has proven to be utmost incompetent in driving company value, and has sustained the spending cancer (don't listen to his nonsense about disciplined cost controls -- the issue is the culture: wastefulness is built into it.
Mike Mason has made over 2.4 million dollars in the same period and the stock on his watch has tanked even more. He was involved in a secondary in the 20's. Now the stock is struggling to hold 80 cents because investors know how incompetent you all are in driving company value.
Shareholders losing their shorts, shorts prospering, the Board members getting paid for doing nothing that has any positive impact on company value, and some executives laughing their way to the bank with millions money. There's something very wrong about this. Richard Paulson will never admit it.
His nonsense line is future data will save us. But you will just as much screw up future good data as you have done already.
Mike Mano has made about the same as Mason since Paulson came on board. Shorts must love the toothless company. They've made a killing disparaging the lifesaving drug that you guys are too weak to capitalize on, and too myopic, since you don't understand the politics of power. They derailed Selinexor for MM for years, and they'll do the same for EC, MF because of your incompetence in driving company value.
It all boils down to leadership where the Board, CEO, CFO, LC have been a failure at in my opinion, and Wall Street seems to agree.
The few analysts who are following you are ashamed of their clients who bought their story when the stock was in the teens. They're hoping you'll change but you won't.
Paulson Mason Mano Greene Schor Bohlin et all will get richer and shareholders will get poorer because you all have your priorities wrong. The Board has failed in oversight and accountability. The very performance matrix is a joke, and you know that.
You all have apparently forgotten that your job, the reason you are there, is to drive company value and you have been a total failure in it.
And the same failed people doing the same ineffective things will lead to more failures. Therefore there is an urgency to fire Paulson and Mason and for Greene to step down, and get a CEO and CFO to take this bull by the horn. They'll fire the other ineffective people who are getting richer and richers as shareholders get poorer and poorer.
~~~
Remember, competence for public company officers is measured in company value. You have destroyed company value by your incompetence in driving value, and you will be held liable, legally, and if Delaware laws back you up, morally. It's not good karma to fail your fiduciary duties, enable and endorse a self-serving gang who can't shoot straight, and destroy hundreds of millions in shareholder value, and always have a lame excuse, and that is when you have a life saving, cancer curing medicine in your bag.
There's nothing wrong with the product. What's wrong is you Mr. Greene, and your self-serving incompetent Karyopharm Board, CEO, CFO, Legal Counsel and a cancerous, dysfunctional corporate culture that just does one thing consistently: NOT deliver results; DESTROY company value; and fail to see beyond the end of its nose (and thus always have an excuse to cover up for its failures which arise out of its incompetent, while blaming external sources: patients, doctors, market, investors, people like me who call a spade a spade and see through Mr. Paulson's cloak. Your gig only benefits you, but it doesn't work like that Mr. Greene.
ANALYSTS TOO ARE FED UP
ANALYSTS TOO ARE FED UP
To Karyopharm's Board
Piper Sandler: "Recall, success for selinexor in endometrial cancer (EC) has been a key part of our thesis on this name, so with yet another delay to timelines (the 5th by our count), our patience is being tested."
5 times delay!
Piper is about to give up. Others find it shameful to cover a 80 cent stock and under a 100m market cap company but the only reason they do it is because of the great science in the hands of such ineffective, selfish management who thinks they can destroy people's wealth year after year and get away with it. The analysts know the science is great. But the self-serving Board, and CEO Richard Paulson, CFO Mike Mason, Legal Counsel Mike Mano are bound to destroy great science by their incompetence in driving company value.
Paulson dishes out BS. "2 billion sales", "disciplined cost cutting", "good optionality" blah blah ... KPTI has spending cancer which is a culture Dr. Kauffman built. Everyone else benefits at expense of shareholders. 6 figure donations; daily free catered lunches, events and parties and outings and give aways, even when the company is losing 10's of millions a month. Karyopharm acts like it's Roche Foundation -- but forgets that Roche makes millions and Karyopharm LOSES millions, and there's absolutely no sign on the horizon -- nobody is optimistic -- that even with more great science, some day, it will translate to company value, because of the ineffective Board and management. You have a profitable gig going for yourselves. That's how it appears to me. And even a buyout or any change to this gig is a threat to your personal gain.
Mike Mason is the big issue when it comes to the spending cancer. Richard Paulson kept him because the sick culture benefits Paulson. A hotshot CFO would take the bull by the horns.
The stringent cost cutting you brag about is nothing, meaningless. You still have NO IDEA what cost cutting means. And if you did you wouldn't be at least ONE YEAR late in doing the layoffs because as management you are ineffective. Terrible management is reactive instead of being proactive and creative. You suck at your sole goal you were hired: build company value.
Mike Mano is just as bad. They wrongly think online defamation is not actionable -- because they are so incompetent. 20 million short position have them under their thumbs. There's hedge fund shorts with loud doctors on their payroll who have managed and are still active in hurting your sales because they know they can because with someone like Mano, Mason, Paulson, Greene, Bohlin, etc. this company has no teeth, and can get kicked around easily, and is a guaranteed to the shorts, because the Board and management have their priorities mixed up. They're in it for themselves. Their benefit in this is their top priority. If that were not the case, they'd hire top level executives who would perform -- people like Sohanya and Reshma.
The Board is useless, self-serving and has breached its fiduciary duties and will be held accountable. Deepa probably represents the shorts. She dumped a ton of shares right before first Siendo results, and continued dumping which tells me she knows how incompetent this management are and how they're bound to screw up whatever great science they have in hand.
Competence matters, and this gang, including the Board, Barry Greene, Garen Bohlin, etc. doesn't have it. They've been utmost incompetent in driving company value. It takes real incompetent leadership to take a $25 stock down to $0.80 (barely holding). Hundreds of millions of value has been destroyed by this Gang Who Can't Shoot Straight and this useless, pathetic, self-serving Board of Directors still thinks the same incompetent persons can continue doing the same things and get different results. F
Face the music: There is a solid reason 20 million shorted shares haven't covered. They know Paulson Mason Mano Greene Bohlin Schor et al, will screw up whatever great science put in their hands, and they always have.
Truth is bitter but there's still a chance to save this sinking ship. The Gang who can't shoot straight is in a la la land. They have to come up with 50 million dollars next year to service the debit. They continue to spend money like crazy and have the nerve to talk about stringent cost savings. They spending cancer is so deep rooted within the sick culture that they don't understand the alternative. They have no clue running a tight ship means. Look at their pathetic website and their donation page.
Giving 6 figure donations while burning through 10's of millions of shareholder money a month is a natural for them because shareholders don't count. Mason probably hates shareholders.
This gang is not accountable. Being so incompetent they don't grasp the dangers of an 80 cent stock. And they're so incompetent, if they do a reverse split they probably will screw it up too.
The ONLY salvation for Karyopharm is to fire Richard Paulson -- end his self-serving gig that has been very profitable for him personally and a disaster for people he was put in that job to serve: shareholders. If you don't grasp that take an MBA course.
A new CEO has to fire this lousy CFO and Legal Counsel and other useless fat in the company and get a CFO to pull this disaster by the horns.
Otherwise, you're bound to screw up even positive future trial results and that's what 20 million short position is counting on. Just ask Deepa her reasons for dumping her shares. It's not the science. It's lousy management.
Part of the paradigm of the spending cancer and lousy management is to think you're entitled, that you can go on like this forever, and the mistake that effort is results. The people who trusted Kauffman and Mason's BS and paid over $20 a share must hate the company now. Karyopharm is a painful, infected tooth in the biotech sector: a GREAT SCIENCE with INCOMPETENT MANAGEMENT who have destroyed shareholder wealth.
One analyst commented that the 5 times delay is unacceptable. You always have an excuse. But your excuses also show how incompetent you are. How myopic you are. You don't care about delays just as you allow yourselves to feed yourselves with daily catered lunches - every day - paid by shareholders. What other job can get Paulson a million+ a year for doing zilch to drive company value. Nobody is going to hire these losers, so they don't want to have good data soon because deep inside they know they're going to screw it up too because they just don't have the competence to drive company value - it's never been on their priority list and even so they were too incompetent to achieve it.
There was a reason why Kauffman hired these guys: they were even weaker than him and he was a lousy CEO - a great scientist and doctor. And lousy CEOs hire weak people. Great CEOs hire people better than themselves. The only company Kauffman ran as CEO prior to Karyopharm went bankrupt.
So these inexcusable delays appear as strategy for you self-serving Board members and executives to sustain your self-serving gigs. But don't forget your fiduciary duties. And don't forget karma. You can't get away with destroying hundreds of millions of shareholder value and laugh it off on the way to the bank.
The Board should take this matter very seriously and think morality. Did you do what was prudent for the last pay check you received for doing nothing at Karyopharm? Barry Greene, Garen Bohlin and other long-term board members: can you sleep at night, knowing that on your watch, you have destroyed hundreds of millions of shareholder value and you have failed to perform your duties to hold this lousy gang who can't shoot straight (including yourselves) accountable? Do you understand that competence matters? How much more value does Paulson's horrible lousy gang have to destroy before you say ENOUGH IS ENOUGH and fire Paulson and bring a CEO who can STOP this fun science lab's sick wasteful incompetent culture?
I am copying Reshma and Sohanya whom I mentioned and am fond of them. I am copying Dr. Kauffman because I think he's responsible for this mess -- it was the horribly wasteful culture he built and the wrong people who hired that got the company into this mess. He probably dumped his shares above $6 like Deepa. Maybe he has a say in this still. Maybe he learned in due time that there are some CEOs who are no-nonsense and can perform, and Paulson is not one of them.
Maybe Sharon has a say in this and can get Greene, Bohlin etc., to recuse themselves because of their miserable performance.
Maybe Deepa should spare the company from her "advice" which is worthless -- she seems to like the pay check too much -- for doing nothing that matters to company value. Maybe there are a couple of Board members who are not mediocre, who see this problem and can pound on the table and say IT'S ENOUGH. When analysts threaten to throw in the towel, you know that many investors already did.
Don't fool yourselves. The issue is not patients, recruitment. The science is great. It's your incompetence and self-serving attitude combined that allows you to tolerate such destruction of company value. Anything you do to try to help it will arise from the same incompetence. They only solution is for Barry to resign and for the Board to fire Paulson and Mason and Mano. How much more value do you want to destroy before you get it. Down side of 80 cents is not much, and poses a new challenge, caused by your own incompetence, which you can be sure Mason, Paulson, Mano will blow that too.
All the above are in my opinion. My aim is to wake up this self-serving, lousy Board which has destroyed so much wealth that COMPETENCE MATTERS, and YOU WILL BE HELD LIABLE.
You know who I am but the incompetent gang who can't shoot straight likes to block criticism, and likes to be left alone in its self-profiting gig. Think of how many shares at 80 cents you have to issue to fund the 2 plus million dollars you have to pay in combination to Paulson, Mano, Mason as compensation for destroying more shareholder wealth.
PS -- Hey Richard, if you want to do serious cost cutting, take a salary cut. Great companys' great CEOs do that. But you will never! Better yet, quit, and take Mano and Mason with you.
Self-centered incompetent failure of driving company value is a repeated theme
Self-centered incompetent failure of driving company value is a repeated theme
I know investors who are concerned and disgusted by this management's past incompetent action which has always been contrary to shareholder interest, as evidenced by the constant drop of company value.
Now with stock this low, it's conceivable that the same incompetent gang who can't shoot straight will do a reverse split without having improved fundamentals, still spending like crazy, and that will lead to what happens in majority of RSS cases: stock drops hugely back to pre RSS levels. That's the consequence of the dire terrible mismanagement of the company by you and your colleagues.
Of course a strong CFO/CEO would approach the matter strategically and wisely and seek the right advice, from credible sources not agents of shorts!!! You can bet short interest will double with a short squeeze.
But the problem is Paulson and Mason don't seem to care. They're taking home 60k to 100k a month regardless of what happens. If they were hotshot that'd be ok but they're not. They're lousy as executives as judged by how miserably they've failed in driving company value -- meanwhile making a ton of money themselves -- and stock always down -- paralyzed under the thumb of the short, thanks to Paulson, Mason, Mano's mismanagement, in my opinion.
Fed-up Analysts
Fed-up Analysts
Even analysts who hardly nag at management complained about yet another delays. And by what Paulson says, it's probably caused by not having their eyes on the ball, not giving a damn about destroying company value, and maybe even liking it if they have a wicked, ulterior motive which we hope is not true but cannot rule it out. They do not resemble at all a decent company that cares about bottom line, about being a business, about real cost savings (not Paulson version of it which is most ridiculous and superficial).
This Board and CEO are not serious. But they will be held to account.
CEO Ethics
CEO Ethics
Good affective CEOs who have the ethics and responsibility and sense of duty of creating value for shareholders which is what they were hired to do, have a good constructive, productive positive, partnering relationship with shareholders. Horrible CEO Richard Paulson has regularly betrayed shareholders, ignored shareholders, been rude to shareholders, treated shareholders as a nuisance and an ATM machine to sustain a dysfunctional culture that only benefits to insiders at the cost of shareholders, has destroyed Cheryl refunds, has paralyzed the stock, has wasted corporate assets, and so many other things that has led to halving of institutional interest, bad blood, a strong degree of despise among some investors to the point that one long term holder with 200,000+ shares wants to vote against the reverse split, in order to force default, in order to help bring an end to this lucrative deal of self enrichment by the CEO and the Board at the cost of shareholders. This with me in a significant asked for him but he still wants to do it because of how strongly he feels against this CEO.
Even analysts who are generally low-key or complaining about the delays after delays that this horrible CEO handed to shareholders and apparently with absolutely no regret or any feeling of it being a negative event. For him it's a positive event: it elongates his $1.2m+/year gig combined with no accountability to shareholders and apparently no accountability to the Board which has allegedly violated several of its key duties, time and again (this will be proven in the court with solid evidence to force an ousting of the CEO and key Board members if no action is taken prior to our filing to remedy the situation which we believe is impossible as long as Paulson is in command.
There's an entirely different way of operating: having a CEO who has the competence, sense of duty, and above all, professional ethics to have value creation (measured in Dollars) at the forefront of his mind, every single day - and act accordingly - and therefore, be respected by shareholders - who will then act as partners and not adversaries. In our view, this is impossible as long as Richard Paulson and Mike Mano are at Karyopharm. The Board was warned about this over 3 years ago but they ignored it. Everything we predicted became true, and 3.5 years later we're saying the same thing, again, and the Board is still deaf dumb and blind and too drunk by the status quo which is very lucrative for it - therefore, it violates its duties, and the consequence is what we see. A life saving, cancer-curing drug at such ridiculously low valuation precisely because of the CEO and the Board's breach of their duties.
When leardership acts in harmony with shareholder interest - instead of flipping shareholders as soon as it milks them for more cash to splurge on - shareholders can help the company grow in value. Interest attracts more interest. No matter how many Harvard MBAs you put in charge of IR, ten Brendan Strongs and superheroes, you cannot compensate for a CEO who has lost the trust and respect of shareholders, who has constantly betrayed shareholders, who has acted contrary to shareholder interest, and a slew of nightmares which have led to 98% of the company's stock / shareholder value.
Instead, it has attracted toxic financiers, surrounded to them, and with engagement with such weak people as Mike Mason and Mike Mano, entered into deals which are very unfavorable for the company and shareholders, only to secure more funding to continue the dysfunctional, splurging, wasteful culture. They were even too incompetent to ask people they were going to bed with if they're short the stock!
Yes the trials are ongoing and they're important, but a competent CEO would have managed the existing assets far differently than Richard Paulson and the incompetent or corrupt Board of Directors.
Richard Paulson adds no value to the company. He sees his role as a leader of a non-profit, charitable organization with no accountability to shareholders. Shareholders are not even on his radar. His stock options are irrelevant because he's getting $1.2+m richer every years, and they just reprice their options. He has claimed that a significant part of his role is to chit chat and socialize with other CEOs. He's on record for so many actions that cost the company a lot and have no added any value to the company. And he's paid handsomely, and left to do whatever he wants, by a useless, self-serving, incompetent or corrupt Board.
This has to change. Either in a harmonious way, or in litigation, which will not be pretty for the Board and their careers.
Paulson's Miserable Mismanagement
Paulson's Miserable Mismanagement
The issue of mismanagement goes far beyond scientific issues. A good CEO is proactive. Paulson wasn't even reactive, let alone being proactive. He continued to waste corporate assets despite all the delays and decimation of the stock, by giving 6-figure donations. That's just one of many many examples of the wasteful culture which then required toxic financing and the mess the company is in now. But also he mishandled the scientific aspect as well in a number of occasions, including totally ignoring key facts that impact the regulatory process and sales. And so much more. A documentary can be made about what appears to be a serious case of incompetence and/or ethical issues, or ...
One of the many facets of this subject is about attitude and priorities, mandate, charter, and the ethics it requires to adhere to it, and fiduciary duties which are allegedly hugely breached, based on evidence at hand.
More Paulson disaster: Alienation of more shareholders
More Paulson disaster: Alienation of more shareholders
TO BE FORWARDED TO ALL BOARD MEMBERS PLEASE
You've alienated two more investors as described in this thread:
https://stocktwits.com/nacho217/message/600909572
We don't know what the investor wrote in the email to Brendan he describes in the above thread, but he has tens of thousands of shares. Here's his post saying IR is just ignoring him - which is so unprofessional, and one of the facets of this dysfunctional culture. Least Brendan can do is to write and say his email was received, and if he has nothing to say he can just say that !! Ignoring is rude, disrespectful, unprofessional, and pisses investor off. This is one of the ways the Greene/Paulson/Mano culture (& Mason who was a big part of this dysfunction), has alienated investors, small and large.
You may not be able to grasp this concept but demand for shares is a key determinant of company value. This Board and CEO have destroyed value in many ways, and disrespecting and alienating investors is just one of the many ways - aside from wasting investor resources on yourselves (e.g. daily catered lunches for everybody even after the stock had tanked 75%). You have been determined to "live it up" on our dime - and such behavior has put the company in risk of default of the toxic deals you incompetently and desperately entered, Richard Paulson, Mike Mano, after you debilitated the company financially with your mismanagement.
Talking about IR, perhaps Brendan and Lori don't know that every time you needed money you diluted, sold stories and promises, and as soon as you got the money, you turned and flipped the shareholders, in the 20's and all the way down.
Greene, Bohlin, Schor, Zsu, Paulson, et al: You are directly responsible for the destruction of Karyopharm and will be held accountable. It should be no secret to you that
1) it was your failure of your duties is what led to this destruction of value, and
2) that it was Paulson's horrific, incompetent, irresponsible mismanagement that led to this disaster, and
3) You keeping Paulson on the job is further endorsing the value destruction. So the time to act now before it's too late. Fire Paulson - and let a serious, competent executive turn this ship around. There's a ray of hope but surely not with Paulson in charge.
Unless you are indeed corrupt and you don't mind this at all. There are entities who have profited hundreds of millions of dollars because of your breach of your duties and Paulson's incompetent or corrupt value destruction.
At a time when you desperately need favorable vote on the Reverse Split, two of your investors (see this link) are voting NO because they can't stand Paulson, yourselves, and what he's done to the company. When you lose existing shareholders like this, it says a lot about the dismal demand picture. Paulson is too incompetent to grasp this concept - he's never had to deal with these kinds of challenges before. Competence matters, and he ain't got it. You need a competent CEO. Leadership matters. Competence matters.
The second investor in this thread owns hundreds of thousands of shares:
https://stocktwits.com/nacho217/message/600909572
Paulson Running KaryoFUN Like A Charity
Paulson Running KaryoFUN Like A Charity
One of the ways that Paulson destroyed company value was to run it like a charity, like a non-profit foundation,. He's got his priorities mixed up. His priorities are first himself second the board of directors third employees 4th making sure the above three get as rich as possible from shareholder funds 4th the patients five the various charities six make it four having as much fun and logging as many miles as you can and getting as fat and rich as possible from shareholder funds while the board is his while the board is apparently completely failed its duty of oversight and other duties therefore Paulson can splurge all he wants without any oversight from the board, and that is assuming the board is not compromised and he is not compromised which is a questionable assumption given parties of profited hundreds of millions from dead destruction of carrier find value by these very people who have become very rich for destroying the value
3 KARYO STOOGES
3 KARYO STOOGES
Great science and important upcoming data readouts but cancerous corporate culture started by Michael Kauffman and inherited by Richard Paulson via Mike Mason and Mike Mano (whom together comprise the gang who can't shoot straight, in my view, or the Three Karyo Stooges). The cancerous, false attitude that cash is there to burn, first and foremost for themselves (e.g. daily free catered lunch for everyone paid by shareholders) and 6 figure donations, and all kinds of giving giving, like it's their grandpa's treasure chest. That's how they took the stock from 20+ down to under $1. Paulson came a bit later but Mike Mason was there when they did a secondary in the 20's. Those bagholders who trusted these stooges lost their shirt. The Board is ultimately at fault for failing its duty of oversight, but they too are beneficiaries of this disaster. With 3 Phase 3 readouts, I hope the Board will shake up this disaster and bring in new blood. https://www.karyopharm.com/responsibility/grants-giving/
16 June 2024 - From $9.50 to $0.95 Cent confirms the lousiest Board of Directors, CEO, CFO, Legal Counsel in Biotech - just in my humble opinion.
16 June 2024 - From $9.50 to $0.95 Cent confirms the lousiest Board of Directors, CEO, CFO, Legal Counsel in Biotech - just in my humble opinion.
Since Richard Paulson became a CEO in May of 2021, the stock has gone from $9.50 which is roughly where it was when he came, to 95 cents. Well done sucker. Meanwhile, he's raked in over 3 million dollars for such an extraordinary performance! Some of the other insiders and all the Board members have made huge undeserved money while shareholders lost their shorts and shorts celebrated such a pathetically incompetent management in driving shareholder value (with exception). He was well warned, and there was a lot he could do to prevent this disaster, but you can't expect better from a self-centered gang who can't shoot straight. Just in my opinion.
13 June 2024
13 June 2024
Dr. DD wrote they have $12 million a month of net loss. What else is new? Spending money is their forte. And the restructuring the debt just gave them enough money to burn as they feed their fat faces with shareholder supplied daily catered free lunches and make 6-figure donations while telling the world selinexor is profitable and they'll have 2 bil sales but in reality booking 12m/month of losses. What else would you expect from such weak CEO, CFO, Legal Counsel and a self-serving Board?
10 June 2024
10 June 2024
Dr. Due Diligence made a posting about the letters he's written to management. I and some investor friends were sending letters to management and Board way before then, because we saw this disaster coming, and it could have been prevented if the company was run by a competent CEO, CFO, Legal Counsel and Board of Directors. I have to tell loser management "I told you so".
~~~
Dr. DD. Some of us went through this a few years ago - I know you've been "fighting" too and that's good. But looking back, Richard Paulson and the Board got warnings, tips, constructive feedback, you name it, from some of us when the stock was 10 times higher but the self centered, ineffective management didn't listen -- remember: when you're in charge of a publicly traded company, your competence and performance is measured by how well you can build shareholder value. Karyopharm's problem is not their science but some lousy members of the Board and some members of the executive management team in driving company value. When a company management forgets that it was hired to drive shareholder value and not its personal interests, share price gets destroyed like KPTI has. They have their priorities backwards. What's for free catered lunch today, to feed their faces, paid by shareholders? Champaign, caviar, lobster and organic shrooms?
9 June 2024
9 June 2024
Richard Paulson having stock doesn't mean anything. He's still taking home over $1 million a year as long as this effed up gig is ongoing. Same with the Board. Priority was always self sustenance IMHO, that's why he held onto Mike Mano and Mike Mason who carried on the dysfunctional culture of Michael Kauffman, a total failure as CEO, and the only other company that he had run had gone bankrupt. But that culture was, and is extremely lucrative for the insiders. Daily free catered lunch for everybody is just one minuscule example. Making six-figure donations while accompanies bleeding cash is just another small example. A strong CFO would never let that happen. The Board and Paulson didn't want fundamental change. Their performance and result of the incompetent running of the company is reflected in the destruction of shareholder value. Competence matters. And the Board member who just liquidated, no shame in selling prior to bad news, again, as it appears.
8 June 2024
8 June 2024
Board member sold out. More unwinding from Deepika Pakianathan of Delphi Ventures. Second time in a few days. Last time she sold at around $6 right before before Siendo bad news that sent the stock tanking, the stock went to $1. Maybe she's putting the money in her dark pools. There's a recent article about Delphi Ventures and Dark Pools.
1 May 2025
1 May 2025
New SA article apparently by bottom feeders attempting to pump to dump below 1.50 again. Funny how no mention of the overhanging debt that the lousy management has accumulated and it seems perfectly inept to deal with it and will probably, once again, throw shareholders under the bus. It seems to be part of the culture: shareholders come last. How many times they've diluted and treated shareholders as ATM machines, to turn around and effectively flip them as they spent the shareholder money like crazy -- making 6-figure donations, feeding their faces with free daily catered lunches, perks and parties, etc. - which screams: this is not a management team to be trusted in the job they're there to do: building shareholder value. Add to it the useless Board which explicitly endorsed the worst and weakest part of the management team who have led the company in this hole. All in my opinion.
2 May 2024 in response to someone who asked for an opinion:
Bad management has screwed up good science; further evidence of good science will probably be screwed up by the same gang who can't shoot straight. The useless Board and the management have repeatedly betrayed and thrown shareholders under the bus, while paying themselves hefty, undeserved sums, giving away six-figure donations, feeding their faces with daily catered free lunches for all employees, while they continue to amass huge losses.
6 May 2024
6 May 2024
Wow from 91% down to 62% institutional ownership. Well done Richard Paulson, Mike Mason, Mike Mano, the gang that can't shoot straight. In my opinion.
Revenue: 33m, 5m lower than 2023Q1. Expenses/costs/interest: 73m. They burned 40 million of cash if I calculated this correctly. That's 160 m cash to burn per year and they have 150m in cash. Means they'll probably dilute. Good science but a financial disaster because of inept management. All in my opinion.
8 May 2024
8 May 2024
Management incompetent in driving company value has destroyed hundreds of millions in shareholder value just bought itself more time to feed its face with more catered free lunches paid by shareholders.
13 May 2024 - Humor
13 May 2024 - Humor
Someone wrote in response to someone else asking if management changed since 2019
"while bew team of no bodies: got one Past Blue Ribbon lovin canyck, one part time belly dancer, one half ass legal cancel and an accountant slash valet boy they could t organize a lemonaid stand…..but lets ride"
Trust Issue
Trust Issue
Short interest up - over 23 million shares! In my view the problem with demand is because of lack of trust in this management's ability to execute and serve shareholders instead of serving themselves. Without serious institutional buying or short covering the stock's not going anywhere. And neither of those streams seem to be present presently. I bet a new CEO and CFO or removal of some of the dead wood from the BoD could help.
Does Management Really Want To Sell?
Does Management Really Want To Sell?
I think part of this creepy management team is that they do not want to sell the company because you can be sure that the acquirer will fire the CEO, CFO and the legal counsel. They may keep some of the scientific people.
And these guys’ resume is taking a company with such a high valuation and basically decimating shareholder value, so I think they're going to have a hard time finding another job with that kind of track record especially a job that pays Richard Paulson more than a million dollars a year and Mike Mano and Mike Mason some I don't remember $600,000 a year plus. Plus free daily catered lunches followed by air guitar and digital pinball practice haha (just ask the king of satire Longrigger).
And the same goes with the board of directors. They got it made. It's a ATM machine that keeps giving to them and keeps taking from shareholders. Most of them are the same useless directors who sat there “directing” the company when the stock was in the 20’s.
I don't think they're motivated to sell the company, because the status quo is very profitable for them. And if they're thinking of going-it-alone, they will screw that up to as they have already. Management matters. Good management that has balls even impacts market demand when there is professional organized disparagement. Not the case for this gang who can't shoot straight when it comes to building shareholder value.
All these are just my opinions / impressions.
Richard Paulson Giving Away Shareholder Funds!
Richard Paulson Giving Away Shareholder Funds!
Richard
We now have solid evidence that you gave away company's money in 6 figures !!
How dare you !! How did that ever contribute to value? Do you understand its impact on the bottom line? How dare you talk about cost savings when you waste our money like Karyopharm is a non-profit?
This is just one of many cases of you breaching your duty to us, and we will hold you accountable. You can count on that. Resign now. You've killed KPTI by 97% - you're paralyzed the company - and you're incapable of turning it around. You just don't have the competence to take on a task of this magnitude. Never done it. Have no competence in it. You don't even understand the dynamics.
You and your two weak Mikes have operated in a delusional, rotten culture that resembles more a vacation club and non-profit foundation - or whatever you call it - other than a for-profit business. You apparently have never had the ethics of putting your mandate first at Karyopharm (to create value for shareholders). There is enormous evidence for your wasteful behavior and lack of regard and competence to create value; the latest one being the proof of you donating 6-figures.
It's more honorable to quit than to get fired. We're not holding our breaths because it's all about extension of your profitable gig - profitable for you, at our cost, while breaching your duty. You will be held accountable.
You have a huge IR issue which Brendan cannot fix. Your leaving will fix it. Otherwise you and the Board members who have enabled you to destroy KPTI by your gross misconduct (e.g. the above example, backed by solid evidence) will be held accountable for every penny of our money that you have destroyed.
You have zero credibility in our eyes Richard, and therefore will never be able to attract investors. To the contrary, ejecting you from the CEO seat will allow the remaining 3% breath of this ailing ship to have a chance to sail open waters again. With you, it will sink. You don't understand that because you're too drunk by your privileged, entitled position and fat, undeserved salary.
Regards
Pissed off shareholders who can't stand you, and don't trust you, and don't believe anything you say.
SELLING US OUT TO TOXIC SHARKS B/C OF INCOMPETENCE AND NOT WANTING TO TRIM THEIR SPENDING DIARRHEA
SELLING US OUT TO TOXIC SHARKS B/C OF INCOMPETENCE AND NOT WANTING TO TRIM THEIR SPENDING DIARRHEA
Richard Paulson, Mike Mason, Mike Mano - the weakest management gang in biotech, threw us into the jaws of a toxic hedge fund, High Bridge. Just another facet of their mismanagement. Raise money in toxic ways while they have never had the discipline or competence to spend wisely and not splurge and waste corporate assets like giving it away to six figure donations and endless useless wastage of money that not only doesn't contribute a single dollar to the bottom line, it hurts it. the Board should fire this miserable gang.
More Reflections On The Conference Call
More Reflections On The Conference Call
It is so moronic for a CEO and CFO to make six figures donations when the company is bleeding cash and losing so much money. It tells you something about how horrible how irresponsible this management team is. And it shows their attitude towards the whole subject of funding and money and shareholders.
It tells me that these guys don't give a damn about shareholders. Just listen to the way Mike Mason was talking on the last call, which gave me the impression of “Is it over yet? I really don't want to do this. I don't like to be accountable to shareholders. Shareholders are not important. As long as we can go to them to raise funds when we need it, like we have done so many times in the past. As long as we can continue feeding our faces with free catered lunches paid by shareholders. And we think money keeps coming, so we can just write six figure checks for donations. We have data coming up that we rely on to be opportunistic to raise more money so we can write more 6 figure donations. And I’m so proud of the cost savings we did which was too little too late. We’re still bleeding cash but that’s the shareholders’ problem.” – of course he didn’t say these things but that’s what I believe he may be thinking.
This is why the stock is so low. It's lack of trust in this management team. Even if they get great data they will still probably blow it because of their reckless attitude towards money and their incompetence in certain areas like countering professional disparagement of their products.
And they are so naive and so incompetent in driving company value, and so arrogant to think that they will get have success in sales if they get more approvals. We saw how they screwed up last approvals, and did nothing to counter the professional disparagement which I believe hurt the sales, because they are weak in certain areas. They’re too naïve and incompetent in driving company value to see this, in my opinion. They’re a dream come true for short-and-distort cabal who still got the company by its private parts.
Pretty funny to hear Mike Mason talk about being opportunistic in the future. I hope he will look for another job and spare us of his opportunistic maneuvers which will probably be just another screwup. Look at the result of their opportunistic actions of the past. People who believe them by buying their stock in the twenties are holding the bag at a buck. Because this management has been nothing but disaster, in my opinion, as judged by the destruction of shareholder value.
I know several shareholders who feel this way. Somebody that I only know by nickname wrote on a message board recently that he hopes that the company fails so that the horrible management cannot get jobs somewhere else, so that they get they go down with the company. That's how strongly some people dislike this management team.
~~~
I finally had a chance to listen to the call. OMG, Mike Mason's presentation was the worst, as usual. Funny they put the horrible CFO at the end. As usual he sounded like he was hating being on the call and being accountable to shareholders. He sounded like "let me go play my air guitar". Can't believe they're bragging about their cost savings while they're burning cash like there's no tomorrow. And that sales are "profitable". Are you kidding? They're losing money like hell. Ok, I'll give it to Sohanya - her organization is making a profit I guess but the rest of the company is bleeding cash. Mike Mason talked about responsible spending which is total BS. He forgot about all the 6-figure donations they're used to giving and all the free daily catered lunches they feed their faces with. I loved Reshma's presentation and "area of hyper focus" and "eye of the storm". The science is awesome -- in the hands of a horrible CFO and a CEO I do not trust. All the above are in my opinion
Listening to CFO Mike Mason was like pulling teeth as usual
Listening to CFO Mike Mason was like pulling teeth as usual
The CFO sounds/looks like he hates shareholders, and accountability to shareholders, and public speaking, and comes across as so arrogant, as though he's managing his dad's private money. Him talking about being opportunistic regarding the huge debt, was a good joke. We saw how miserably they mismanaged the company's assets for years, and lost so much money while giving 6 figure donations, and feeding their faces with free daily catered lunches.
CEO Richard Paulson is just as ineffective in my opinion. He let this nightmare go on, while hiding behind his funny beard, cashing in bigtime salary and bonuses.
His biggest mistake was not to replace Mike Mano (Legal Counsel) and Mike Mason (CFO). So they go on doing the same things and getting the same horrible results for shareholders. The Board is the core of the issue. It endorsed these people and they are also benefiting handsomely meanwhile, with a fat undeserved salary while shareholder value tanked from over $20 to under $1.
People who trusted the company and bought the stock in the 20's are holding the bag at $1 and change because of the mismanagement of the company.
All the above are in my opinion.
Open Letter to Richard Paulson - 13 Feb 2024
Open Letter to Richard Paulson - 13 Feb 2024
Dear Richard
Karyopharm has good science no doubt. And it has horrible management no doubt, at least at the financial, legal and CEO level. And if you would have listened to me a long time ago, and not been so arrogant and so weak, and changed the dysfunctional culture that you inherited including, by keeping some of the representatives of that dysfunctional culture which gave it continuity -- the company would have been in a much better shape.
Looking at what is, you have a negative cash of around 100 million. You're still spending like crazy in line with that organizational habit, the dysfunction, the spending cancer as I call it, and donating six figures and free lunches for you all, everyday, catered.
I wonder if you ever think that the value of your options could be much more than the value of those free lunches you so enjoy, and even bigger than the value of your big undeserved salaries. Undeserved because you have destroyed shareholder value and have been so utterly irresponsible, reckless, with your spending shareholder money by living a plush corporate life as though money will just drop from the trees.
That dysfunctional mindset was punished by investors whom you have consistently betrayed. You should know how those people who bought the stock at about $22 or about $15 or above $10 feel about you having betrayed them and them having been stupid to believe your stories.
So what you got going right now is a poorly selling drug because you so messed up the legal side regarding the disparagement and the political side because you guys are so clueless about that whole area, and your enemies, the huge short interest which is still there standing tall and strong did an amazing job of making sure your drug doesn't succeed. And they succeeded. Look at your weak sales.
The painful part is this is not the first time in the universe that this happens. Some of us long-term biotech investors have seen this happen before. And we warned you. Multiple of us warned you. But you were so complacent and comfortable in your fat salaries and free lunches that you just ignored it.
Selinexor is actually a great drug but very mismanaged, and I'm not blaming your sales organization, it's not their fault, it's your fault and your ineffective executives' fault.
A poorly selling drug, some cash, and a negative 100 million cash position, high interest rate picture, looming debt overhang which is especially scary given the profile of you and your CFO and your Legal Counsel who have consistently screwed up managing shareholder value.
On the other hand, you have some killer data ahead which normally one would think you would screw up just because of your incompetence in driving company value based on your past horrible performance and mismanagement of other great data, as measured by shareholder value which is the ultimate criteria for measuring management performance. Any management student would understand that concept.
So this is the big picture. Poorly selling drug, a spending cancer syndrome, fat and happy and overpaid management, perhaps short-sighted management to ignore the possibility for their stock options, unless they're totally deceptive and lie to the public about their projections while deep inside they know their stock options will be worthless, I hope that's not the case because that would make you big time crooks.
And hot data coming up. And a huge short interest which has held its ground. But has proven to be vulnerable to any sudden movement in the stock. You can be sure some of the recent rally was due to short covering but they may have gone short again who knows. And you also have a potential for a buyout; Dr. Kauffman said you had overtures in the past. The horrible CEO and Board turned it down saying "not yet" (as per Dr. Kauffman), and that's when the stock was I don't know 20 times higher in price than now.
So what do you do? This is a good case perhaps for a Harvard Business School case that are taught in business schools worldwide
What should prudent Management do?
The first and foremost thing in my view is to change the culture which has gotten you into this hole. This is critical because if you don't, then the same dysfunctional culture is going to mess up future sales potential.
Mike Mano and Mike Mason in my opinion are not at a caliber to handle this. Sadly I told you this when the stock price was 10 times higher, and you arrogantly ignored it, or you were so weak to not be able to stand up to the lousy board and the strong rotten status quo.
I don't think you want to leave so we're stuck with you. But you can uproot the cancer in the culture by cutting the spending meaningfully, and not superficially, and not two years too late, and for this you need a new CFO. And you also need a new CFO who understands that as the company is bleeding cash it's absolutely imprudent, irresponsible, to make six figure donations and spend like crazy and feed yourselves daily catered lunches paid by shareholders. Remember, you're still losing money. It's not just a CFO's fault but it's your fault because the buck stops at the top and this disaster has been your doing Richard Paulson.
But as the Persians say whenever you catch the fish it's fresh. It seems very odd that I would be telling you this after I told you this when the stock was 10 times higher and you ignored it and look at what happened. I hate to tell company management I told you so. This is also the case in my professional career with companies that I consult with: a couple of times when they didn't listen, they came back a couple of years later and said oh you were right.
So you have to tame this spending beast, and this management poor competence issue. You should cut another I don't know 25% of the staff, and replace some key executives.
These actions dovetail with the confidence you give to investors. That you're spending cancer is cured. That you care for shareholder value and you're not giving them the middle finger which you have for years as you destroyed their wealth. These things can lead to higher company value.
But as long as you're the same gang you can't shoot straight doing the same things you will continue to mess up. screw up the best of data, just as you have in the past.
You seem very weak Richard, and a weak CEO likes weak executives who are worse than himself. History books of biotech will not be kind to you unless you change some things as hinted above. If you don't, even the best of data will not be made into success because of management incompetence in driving company value.
Regards
Friday afternoons the fun vacation club (Karyopharm) is deserted
Friday afternoons the fun vacation club (Karyopharm) is deserted
Friday afternoons the fun vacation club (Karyopharm) is deserted. The idea of the inept management who have no idea how to run a business, is that people who work one extra hour a day, can take Friday afternoons off, but these are mostly salaries employees and not hourly, Duh! And who’s going to control them when they’re working at home with a laptop on one hand and a dog in the other? How productive are Karyopharm employees? If you come to office, you get a catered lunch waiting for you. And you get double the vacation time of US companies, plus, year-end paid time off.
And endless perks, events, outings, fun fun fun as the stock dropped 95% due to such gross mismanagement of stockholder equity while the company is bleeding cash and the CEO is in a cloud of delusion that MM is funding the pipeline. It is not Richard. Stop lying. Even your lies don’t help the stock price because competence counts and credibility counts, and Wall Street doesn’t think you got either as a CEO because numbers don’t lie. Even when you give cash runway, you don’t give a straight honest answer: you add caveats to it, as though people are stupid! Shame!
Perhaps our weak, useless Board and horrible CEO don’t realize that giving employees perks is with the ultimate goal of attracting best talent who perform best, are productive, and all that increases the value of the company. That’s the missing link in the dysfunctional governance of Karyopharm which functions for everybody except those (us shareholders) who pay their undeserved salaries and bonuses while they destroy company value.
They stop in their myopic minds, at the point where benefits are GIVEN to insiders, patients, charity, venders, etc. – all subsidized by shareholders. They don’t seem to have the integrity to acknowledge the next link in the chain: shareholders, who are holding the bag, hoping this gang that can’t shoot straight will someday have enough of this spending diarrhea and start thinking about running a business.
That day won’t come because this CEO is too engraved in the status quoand is too weak to change it, and he sustains it, and he’s a beneficiary of the status quo, and who knows, he might have a wicked agenda too – there are WS sharks who’d love to buy Selinexor for pennies on the dollar.
Hearing Paulson say, the data will transform the company is a joke. They’ve had the best data but blew it. So it’s a problem with their competence and not the data. They will screw up the best of data, and will continue to deter and alienate investors because they are NOT running the company like a business. It’s a splurging, lavish paid holiday camp with chronic spending cancer, run by people who have NO IDEA how to run a business which means building worth. Numbers don’t lie. Richard Paulson firing will fix these problems.
Richard you are running out of "optionality".
Richard you are running out of "optionality".
Richard you are running out of "optionality". If this stock is 25 cents you can't operate the way you have been anymore to totally disregard your main duty of building shareholder value and diluting to fund your lavish $100,000 a month of pay plus bonus. Someday this show is going to come to an end if you continue this way. And what will be left is going to be you and your conscience if you have any, and accountability to shareholders who are paying your fat salary. I'm sure your educated enough to understand that fact.
You are put in this job to built company value and not to keep diluting and spending.
Your so-called disciplined spending cuts means nothing when you're taking home $100,000 a week and the share prices dropped 91.5% since you took office.
So stop giving shareholders your lip service of optionality and cost cutting blah blah. Nobody's buying your nonsense anymore. Over 3 years of your mismanagement has destroyed the stock by 91%. If you have any conscience you should just resign but you're not going to because your pay is too fat.
But someday you're going to have to face that conscience and you can't fool yourself anymore, like you've been trying to fool us to believe that someday magically your gang who can't shoot straight is going to make it work.
That suddenly great new data is going to solve this disaster you have created. Which will never happen because you guys are so incompetent in driving company value, and you are so operating with the wrong paradigm, that you are going to screw up anything you're given.
That's by definition because of the dysfunctional paradigm you're operating under, which you have chosen to maintain because it's profitable for you.
A responsible CEO would change that paradigm away from shareholders last to shareholders first because you have this job to drive shareholder value which is measured in dollars and appreciation of the company value. I don't need to teach you this Richard, you know all of this already, but you're pretending like it doesn't exist.
Let's face it. Shareholders are not part of your dysfunctional spending cancer paradigm that exclude the very reason you have this job: accountability to shareholders. It sounds strange right? Because it has never been a part of that sick culture to put what should be priority as priority.
So everybody else is a beneficiary except parties who are fundamentally beneficiaries of a corporation: the shareholders. You've forgotten that. You have an MBA Richard. So I'm sure you understand this concept.
Kauffman didn't understand this concept but he was also not trained in business. But you should have cleaned up this act but you didn't. You kept your d players because an Ace player would not let you get away with such disastrous performance and mismanagement of company value.
An Ace player, a top CFO, wakes up in the morning and thinks shareholder value. You guys think what you're going to have for your free catered daily lunch paid by shareholders.
And please stop this we are saving money nonsense. Saving money is not part of this dysfunctional spending cancer culture. If you're serious about saving money take a salary cut and impose a salary cut on all your executives and board members. And imposes salary freeze and a hiring freeze and a travel freeze. That's how you cut cost Richard and not keeping the fun science lab going with its wasteful ways, and not caring for company value
If you guys cared for company value you would never dish out free catered daily lunches for all employees. You would not make six figure donations when you're bleeding tens of millions of dollars a month. And so on and so on. You are not running a charity Richard. Remember your conscience.
That's what's good effective responsible CEOs do. And responsible CEOs don't take home 4 million dollars while share price drops 91% because investors can't handle such mismanagement anymore and they dump their shares and want to have nothing to do with such a lousy management.
Truth is bitter Richard but it's even worse ignoring it.
I am an expert in unfucking situations, professionally, and have rescued several highly distressed projects and programs. You didn't listen to my advice 3 years ago and I told you I don't want to hear you say I should have listened to you. You should have listened to me. But it would have required real action that benefits shareholders but you were more interested in benefiting yourself apparently.
You have a major screwed situation on your plate. And you are responsible for it. You need to quit your job or get fired. That's the best solution that I can think of because the problem is deep rooted and you cannot change it because you are a part of that problem.
I can totally see a new CEO who is serious about company value come in and get rid of all the fat and bring in some can do people, and then you will learn what real cost cutting is and what real building of shareholder value is.
We warned you 3 years ago when the stock was at $9 and we saw this coming. But you didn't care because your mind was set into the millions you were going to make regardless of what happens to shareholder value. That's the way it looks.
And lastly Richard, competence matters. You got the same people who got the company into this hole under your mismanagement, who feel no sense of urgency, are not very creative, are not too competent, who cannot think outside the box, who are living a comfortable life with a huge pay, and what happens to company value is not important to them except for lip service to continue this profitable gig for yourself.
I'm not talking about all your executives. And that board of directors is a disgrace which has enabled you to bring this disaster to company value. But you All are accountable to shareholders. Think of your management 101 course. It's a fundamental principle which Kauffman did not understand so he built this dysfunctional spending cancer shareholder unfriendly culture that you inherited and you didn't mind it a bit because it was profitable for you.
So the stock is 80 cents with 20m shorts in control, and you have the nerve to project a cash runway without considering the convert due Oct. 2025. That's outright deceptive in my opinion.
I warned you in the stock was $9. Now it cannot even hold 80 cents. And in your delusional yet profitable for you mindset you think your failure d caliber gang can continue doing the same things, in a dysfunctional paradigm, and achieve a different result. Wake up Richard. There's disaster ahead with this weak level of the stock price, your incompetence, the spending cancer culture, false operational paradigm, huge short interest who know how incompetent you all are in driving company value, The huge converts and debt overhang. And you will be held responsible for it Richard.
You and the board are accountable to shareholders and you will be held accountable. Don't ever think otherwise. And don't forget your conscience because someday that's also going to hold your accountable, even if you think you don't have one.
26 Jan 2024 - Frogger
26 Jan 2024 - Frogger
X (investor) nailed it. Mike Kauffman hired Mike Mason and Mike Mano because they're called Mike like him, and MM stands for Multiple Myeloma. Richard Paulson didn't drain the swamp because a) he was too weak b) swamp was profitable for him. Imagine in face of all the losses, a strong CFO would not be ok with giving hundreds of people free daily catered lunch - 6 figure donations - etc. - and any perks we don't know about. So the dysfunctional Kauffman culture continued. Mind you Kauffman never ran any company successfully. The only company he was a CEO of went bankrupt. Longrigger nailed it: "Mano is really into Frogger. They [him and Mike Mason] are teaching RP how to play but he keeps getting run by a truck." Bingo ;-)
18 Jan 2023
18 Jan 2023
For share[bag]holders who are hoping for data and technical bounce. Wake up. Wall Street woke up eventually that this management team for the most part sucks (except people like Sohanya and Reshma). Instead of sitting there with rose colored glasses on and hoping a turtle would fly, write to the Board and demand that the clowns who have gotten the company to this pathetic shape are fired. That includes this weak, horrible, ineffective CEO hiding behind his ugly beard, who has destroyed shareholder wealth while he fed his face and hundreds of employees with free daily catered lunch and kept two D-grade executives, both called Mike, hired by the horrible former CEO Mike Kauffman because horrible CEOs bring in people who are even lower caliber than themselves. Now the same team is looking at a 70 cent stock price, continues to serve itself with hefty salaries and bonuses, and a self-serving Board who's also giving itself a ton of money despite desecration of shareholder value.
10 January 2024 - Letter to Management
10 January 2024 - Letter to Management
Subject: A Karyopharm Satire and A Serious Note
I had to laugh at this satire someone posted. It's just a reflection of the frustration of shareholders. The person who posted it has been a shareholder for a very long time and is utmost negative about the state of affairs at the company which is reflected in the valuation / share price.
"I HEARD MIKE MASON BROKE THE HIGH SCORE IN THE HOTEL GAMEROOM IN PAC-MAN, DEFENDER, AND DONKEY KONG. HE WAS IN THE ZONE. RP PULLED A HAMSTRING TRYING TO SQUEEZE HIS PANTS ON AND MANO PULLED THE FIRE ALARM AS A PRANK. HE HAS TO SIT IN COACH NOW ON THE RIDE BACK"
On a serious note, you guys have a big job to show investors that you're not in a holiday, self-enrichment, spend like there's no tomorrow, 6-figure donations, free lunches, etc. mode any more.
The 20% layoff was like a guy who gets busted and apologizes after getting busted. Too little too late. A fundamental shift in mentality regarding spending and CARING for shareholder value should have come a long time before that.
You have a great science and some great people like Reshma and Sohanya -- but as a company, you have been flipping shareholders endlessly even if you think you are not -- by shortcomings in governance, and a fundamental attitude problem which Richard inherited from Kauffman and continued via Mano and Mason, and went right along with it because it was lucrative.
Richard Paulson was too weak to fix the fundamental defects of Michael Kauffman's so-called leadership - who had never run a company before successfully (only other company he was a CEO of went bankrupt). It absolutely wasn't a case of Richard not seeing it. He was warned again and again by myself and several other shareholders. I know this as a fact. But he ignored those warning, which became true. I predicted exactly what will happen and it did, and it could have been prevented if Richard was willing to grasp the big picture and act based on that insight. He did not even try, and so we can't say he failed.
Richard continued spending money like crazy -- daily catered lunched for all (that means 100's of) employees including themselves. How nice! 6-figure donations!! (funded by shareholders). Not having high caliber people in certain roles and putting up with poor performance -- why? A tough CFO with stock options would have wanted things done differently but apparently status quo (= Richard and also very much the apparently self-serving Board which has received huge sums of money and raises despite shareholder value obliteration.
But now you get to see that your options have become worthless so somehow your good and shareholder good are connected! Awakening?! If you say you always knew that, then you should have acted on it -- you should have taken a sense of responsibility when it came to making 6-figure donations and serving those daily catered free lunches for all staff. You should have put people in key roles who can get results. Etc. Etc. - all things that I and others pointed out but you arrogantly ignored.
Sitting at 82 cents while people who bought your story bought the stock in the 20's not too long ago! I bought lower than that but still, I made the mistake of believing this Board of Directors and management has one thing in the forefront of their mind -- which is the reason they are hired: to drive shareholder value -- aside from helping patients which is implicit when you run a biotech company but without shareholder support the research is impossible. If you don't understand the fact that public company management are hired to serve shareholders and drive shareholder value, take a entry level management course.
You've messed up soooo bad -- you've lost a lot of institutions. You've lost a lot of market cap. You've alienated a lot of retails shareholders. You've wasted so much shareholder money. You've burned through millions of dollars of money that you should have managed wisely. This gives the wrong impression to Wall Street: that you don't have the wisdom to be a sound investment. The science is great. But the management shortcomings and a still defective attitude / mindset in my opinion, is a dark overhang, which might not go away as long as Richard is the CEO.
Now you're thinking of doing a reverse split and continuing the same way - same ineffective people in same roles, without view of the big pictures, without the competence at a level Karyopharm needs to pull it out of this mess. Investors are thinking look what they did with great science - they failed because they were not competent enough - they were too comfortable in their myopic view that money will come forever - instead short sellers got enriched.
So now what Richard? Same ol' same ol'. I warned you over 2 years ago. In Persian they say "whenever you catch the fish it's fresh". I don't know if you're capable of, I don't know if you have the courage to take the big, necessary action. You've somehow taken your test and utterly failed. Garen, Barry, what are you going to do to fix the management problem that has killed shareholder value?
Best wishes for 2024
5 Jan 2024
5 Jan 2024
Not surprised investors aren't buying this story any more and even shorts aren't covering even at this price. Why? Horrible management. What's for free catered lunch today? Live it up. It's on shareholders. Mike Mason / Richard Paulson giving 6 figure donations paid by shareholders, and Mike Mano looking baffled but enjoying his fat salary, so as long as the checks keep coming and free lunches catered, they're happy. Shareholders are last in line. It's either a reverse split or bankruptcy. I bet they're thinking of both and don't mind either as long as their salaries are intact. Just in my opinion.
16 December 2023
16 December 2023
Folks, cash runway means nothing. How many times have you heard companies say we have case for another 2 years and turn around and dilute. KPTI is where it is because of gross mismanagement. Some of the executives are D-grade, not too smart, self-serving, and they don't give a rat's about shareholders. They care about their fat salaries, bonuses, and feeding their faces with free daily catered lunches paid by shareholders. The company has spending cancer, in my view, based on how much they splurged and still do. That's the problem. Shorts have made a killing but are still not willing to cover because they see the same bozos in management team are not capable to navigate this ship. There is huge debt due and the CEO/CFO/LC cannot pull it off.
The science is really good but even the best of data, this management team will make it fail unless they're fired. Shorts are waiting for bankruptcy or buyout for pennies on $ or RSS to short more.
Letter to CEO
Letter to CEO
Richard
I warned you about your weak team members - I guess you could identify with them because a strong CFO wouldn't let you be so wasteful.
Now you've seen the consequence -- think selfishly, which is your way as it appears, else you wouldn't splurge shareholder money like you have since you became the CEO. Your stock options have turned into toilette paper. Why? Because of horrible performance of yourself and your weak team members. You'd be a fool to believe the same lousy team can navigate through the keeping the stock listed, and dealing with the giant debt overhang that's killing the stock. Why do you think shorts haven't covered? You can say 2 billion sales all you want but all you care for is your million+ undeserved package and making sure the Board gets their fat, undeserved package. They love the status quo. Why else would they issue a statement endorsing two of the worst executives in the industry?
So get real Richard. You either care for shareholder value which is what you're getting paid to drive, or you don't. If you do, you need to put together a team that can perform -- you've failed shareholders in that regard for years, and you may be too engraved in the status quo to change its rotten ways. But your two lead clowns, you can be sure your way forward will be a total failure like the failure of a CEO that you've been so far, except for your bank account.
Dr. Kauffman
Dr. Kauffman
IMHO, Nereid Therapeutics is screwed with Michael Kauffman as the CEO. https://nereidtx.com/#team
I have a lot of respect for him as a scientist and doctor. Absolutely brilliant. But as a CEO he's been a disaster.
Tanked Stock Due To Mismanagement
Tanked Stock Due To Mismanagement
Not surprised the stock is almost $1, given the wasteful culture, insider enriching culture, pathetically mismanaged finances, horrible CEO, CFO, Legal Counsel. The suckers continue to waste money for their fun science lab that benefits various charities and insiders, funded by share(bag)holders. What a shame! Great drug in hands of incompetent, horrible leadership. What was for free catered lunch for all employees today?
8 Sep 2023
8 Sep 2023
I bet there are conversations going on by hedge funds and pharma about how to take over the company for pennies on the dollar now that horrible (mis)management has (mis)managed to debilitate the stock with their horrible mismanagement of the company. Shorts are in control. No threat from big demand on the long side by tutes. All IMHO.
2 Aug 2023
2 Aug 2023
Too little too late. 20% layoffs.
That's what horrible incompetent reactive management does, doing lay offs one year too late after company value has been destroyed by runaway cancerous expense structure that includes daily catered free lunches for all staff. I guess now they can upgrade to caviar and lobster everyday now that there is 20% fewer faces to stuff.
And I believe they only did this to sustain their own packages by preventing the company from going bankrupt given the level of spending but I have no confidence that there has been any dents put into the dysfunctional corporate culture of lavishly spending shareholder money.
Debt
Debt
The cost of maintaining a renegotiated debt given current interest rate picture could be horrendous. It's funny to hear about educating the public when they have so sucked at public / investor relations and have treated investors as their ATM machines.
7 Feb 2024
7 Feb 2024
One thing that people who don't know this stock well don't know is that the huge short interest was counting on the company going belly up, but the recent spike in price, and re-compliance with Nasdaq listing triggered some short covering and I doubt any short who is covering here is going to short again at these levels so that is probably providing support for the price otherwise it would have tanked back to 1 as soon as it reversed.
14 Jan 2024 - is KPTI a Buy now?
14 Jan 2024 - is KPTI a Buy now?
Dear StocksTrader1. Thanks for the comment. To be clear I do not provide investment advice. I can only share my opinions. You are correct. I made a huge mistake of not listening to my intuition about the lousy management team and didn't sell when my friend sold around $6 because he was fed up with Mike Mano being there (he had worked with him before) and other reasons. And I was a fool to buy at $11 after I sold at $14 just shortly before. I was a fool to believe CEO Richard Paulson and a fool to think Mike Mason the CFO would ever be effective. My first huge mistake with KPTI was a shortcoming in my DD for not checking Mike Kauffman's background before buying. Had I known he was an MD / co-founder I would not bought the stock because I knew all about Founder's Syndrome. I'm guessing Kauffman and Shacham dumped their shares in the mid-upper single digits. I dumped at 2.20 - that was very painful. To your question, I do believe it's a Strong Buy now, in my opinion.
Myelofibrosis
Myelofibrosis
§ John Mascarenhas, MD, discusses the potential advantages of utilizing selinexor with ruxolitinib in patients with JAK inhibitor–naive myelofibrosis: https://www.onclive.com/view/dr-mascarenhas-on-the-potential-utility-of-selinexor-plus-ruxolitinib-in-myelofibrosis
§ Dr Tantravahi on the Efficacy of Selinexor Plus Ruxolitinib in JAK Inhibitor–Naive Myelofibrosis: https://www.onclive.com/view/dr-tantravahi-on-the-efficacy-of-selinexor-plus-ruxolitinib-in-jak-inhibitor-naive-myelofibrosis
10 Jan 2024
10 Jan 2024
I think the next sets of data will be solid, and there will be a run up to the data and the stock could get close to JPM and Piper's target of $5, and will strong Phase 3 data go double-digit, IF any of the following resign : Richard Paulson, Mike Mason, Mike Mano. Two of them resigning will be even better. All of them resigning can send the stock to the moon.
8 Jan 2024
8 Jan 2024
2 analysts have $5 price targets (Piper and JPM) - the rest I don't know. Market makers / shorts seem to be in control. Short interest dropped a bit year end. Theoretically in normal situations stock should run up to phase 3 data during the next 6 months. The situation is not normal because management has been horrible - wasting a ton of cash and destroying shareholder value, and debt overhang combined with a weak CFO/CEO/LC. Good science and multiple potential upcoming approvals. Has the stock bottomed? Why are shorts not covering or are they? S.I. dropped slightly in 12/15 report.
Eisai Pharmaceuticals (?): MCW Cancer Scientists Make a Breakthrough in Treating Aggressive Uterine Cancer with Selinexor
Eisai Pharmaceuticals (?): MCW Cancer Scientists Make a Breakthrough in Treating Aggressive Uterine Cancer with Selinexor
Selinexor and Eribulin/HALAVEN (an Eisai drug):
“We discovered that selinexor, when combined with DNA damage-inducing chemotherapies like eribulin, showed synergistic effects and helped to potentiate the DNA damage-based therapies. DNA damage disrupts the integrity of cancer cell DNA, ultimately leading to cell death. The sequential combination of DNA damage agents followed by selinexor increased cancer cell death and reduced tumor size,” said study co-author Sunila Pradeep, PhD, associate professor of Obstetrics & Gynecology.
“Selinexor with eribulin was found to alter the expression of important transcription factors, leading to downstream changes within the tumor transcriptome. This combination demonstrated greater effectiveness than individual therapies and holds a mechanistic rationale as a novel anti-cancer strategy,” she added.
Management Problem
Management Problem
There is a severe management shortcoming issue which means the company will never see those valuations, in my opinion. Best that could happen is for it to get bought out at 4 or 5 bucks which will mean huge losses for anybody who trusted these clowns when the stock was in the 20's 10's and above 5. There's a huge debt overhang at a time of credit crunch and high interest rates, and this CEO/CFO/Legal-counsel team are the perfect incompetent trio in dealing with such challenge, in my opinion -- and they've shown to be not just incompetent in building shareholder value but also incompetent in controlling expenses including self-serving catered free daily lunches for all employees and fat salaries and bonuses for themselves and the useless lazy Board which endorses and empowers them. So there are serious governance issues and mismanagement and when it gets so bad, it's very hard to turn it around. Probably they'll get squeezed out to sell out for pennies on the dollar. IMHO.
Mike Mason
Mike Mason
I have no trust in Mike Mason as CFO and Richard Paulson as CEO to handle the debt issue to the benefit of shareholders. They have a history of grave erosion of shareholder value while they feed their faces with free catered daily lunches paid by shareholders (company is still losing money) and rake up big salary and bonuses. How about executive pay cut which great companies do to cut costs. Never at KPTI. It's shareholders for them vs. the other way around. All the above, in my opinion.
A $500 Billion Corporate-Debt Storm Builds Over Global Economy https://www.bloomberg.com/news/features/2023-07-18/billions-in-corporate-debt-wave-of-bankruptcies-threatens-global-economy
10 Jul 2023
10 Jul 2023
It seems State Street dumped some 8 million shares? Their last holding was 10,175,989 as of 3/31/2023.
Richard Paulson is one of the worst CEOs in history of biotech. When he became CEO the stock was almost $10, now it's $1.50 with over $300m in debt and enterprise value of under $100m and a CFO, Mike Mason, who's the worst CFO I've ever seen, and Mike Mano, the worst legal counsel I've ever seen. They have alienated a lot of shareholders by their horrible mismanagement of the company. Even good data can't compensate for horrible management. IMHO.
Down 8% More
Down 8% More
Losing another 8% today was another blow to this horrible management team (with exception). IMHO
Emma Reeve
Emma Reeve
Constellation had a killer CFO and excellent financial management. Compare her profile to Mike Mason's. https://www.linkedin.com/in/emma-reeve-1b510a14 -- Karyopharm's financial mismanagement has been a disaster, in my opinion as evident by the destruction of shareholder value. Couple that with a very weak management of several areas of the company and a disaster CEO and a useless Board at Karyopharm. Competence counts. Even great science in hands of bad management cannot save the day.
Late In Cost Cutting
Late In Cost Cutting
They're way too late in *meaningful* cost cutting. They're doing it now because they're worried about their own gig, free lunches, after eroding millions in shareholder value because they're clueless and in competent in driving shareholder value. You listed some things - they need to do a lot more than that like take a salary cut and so on and all this has been told to them a loooong time ago but the moronic management was / is too complacent and incompetent to listen. All IMHIO.
Incompetence Till Last Minute
Incompetence Till Last Minute
If you view Mason Mano Paulson as "waiting till last minute to do it right" -- that makes me laugh out loud :-) ---- the gang who can't shoot straight can't do it last minute either -- that's my opinion of them based on their horrible performance.
A Match Made In Hell
A Match Made In Hell
I hate to tell a horrible Biotech CEO like Richard Paulson, I TOLD YOU SO. Read my pointers, tips, warnings since you took over the company and the stock was almost $10. You managed to make the stock price drop over 82% by your horrible mismanagement and lack of attention to the critical facts that were held in front of your eyes but you still ignored them -- facts you were spoon fed but you still didn't get it. But you still make over a million+ bucks on the back of shareholders so you got it made - and your lousy useless Board is the same story! Your destruction of Karyopharm by your weak, horrible mismanagement of the company, will go in history. I Told You So !!!
You can start a new company with Mike Mason and Mike Mano after Karyopharm goes bankrupt and the three of you, the gang that can't shoot straight, will make that company go bankrupt too -- a match made in ... hell!
Layoffs to Sustain Dysfunctional Mismanagement Status Quo
Layoffs to Sustain Dysfunctional Mismanagement Status Quo
In my view, the only reason the incompetent board and management (with exception) are laying off people is so they can sustain their own fat salaries and bonuses which are totally undeserved given the tragic destruction of company value on their watch -- and so that they can continue feeding their faces with daily catered free lunches, and get the Fun Science Club going with all its parties, events, 6 figure donations while it's losing millions of dollars, and investors bailing probably because they know this management team sucks. The layoffs should have happened over a year ago, and should have started with Mike Mason and Mike Mano and Richard Paulson. All in my opinion.
Layoffs
Layoffs
It's damn time the horrific Karyopharm mgmt cut costs. But only reason they're doing it is to keep their jobs / fat salary, bonus, and free catered lunches going otherwise if they had a damn clue the clowns should have done this a long time ago before the debilitate the company value. Mason & Mano should be first to be fired followed by Paulson.
"What's for lunch?"
"What's for lunch?"
Organic Caspian Sea Caviar, Lobster and Dom Pérignon are starters, guess the rest ;-) Mike Mason likes to tip very well -- they've given 6-figure donations ... funded by bagholders (shareholders). These suckers have continued a financially unsustainable status quo, and will do so through bankruptcy. The only way out is a derivative lawsuit but they're not worthy of my time, and are not reformable. All IMHO.
Clowns AT The Helm
Clowns AT The Helm
Lost another 4% as the clowns had their free lunches catered and paid by shareholders. Plus, the Legal Council, CFO and CEO earned over $10,000 in undeserved salary and bonus in total. Mike Mason scares the daylight out of me thinking how he would handle the huge debt overhang. Richard Paulson's hiding behind that silly beard as he rakes in over a million dollars a year, paid by shareholders (their revenue is dismal compared to their expenses). All in my opinion.
26 Jun 2023
26 Jun 2023
Incompetence - they hate the shareholders whom they view as suckers who fund their free catered lunches, undeserved fat salaries and bonuses and the suckers are still running the company like a fun science lab. The huuuuge debt overhang is going to knock them out, knowing how incompetent they are. $KPTI will probably get unlisted and go bankrupt once these clowns spend all the cash, and reverse split and get back down. Too bad Richard Paulson is so incompetent as CEO that it has to get to bankruptcy for him to leave and take the hands of Mike Mason and Mike Mano whom by then are fat as pigs from all the free lunches paid by shareholders, as the lights go out. Sorry I just don't see any other possibility given how horribly incompetent these clowns have been. Just look at the drop in company value. The proof is in the pudding. All the above are IMHO.
24 July 2022 Email To Richard Paulson, Karyopharm's Lousy CEO - when the price was MUCH higher. I hate to tell incompetent management "I told you so".
24 July 2022 Email To Richard Paulson, Karyopharm's Lousy CEO - when the price was MUCH higher. I hate to tell incompetent management "I told you so".
Valuation risk mitigation
Dear Richard
I never intend to bother you, and appreciate you reading my messages. Elhan is nice and I trust her but she reports to Mike whom I don't trust at all and suppose he filters what comes to you so I can't count going that route. I keep these "2 cents" short. You may find them beneficial. Based on observation of many biotechs, KPTI stock can easily be pushed to the $2 range:
1. When there's buyout prospects (per Dr. Kauffman, Barclay's, etc.) pharma typically engages in manipulation of small companies it wants to gobble
2. When shorts have the upper hand they typically are focused on hurting the earnings, esp. first time company gives guidance. They're after your 130-40m target to make sure you don't achieve it, and plan to pound the stock upon that failure, along the way. No excuses, covid, economy, etc. matters. They're fixated on the goal they're good at achieving and have done so many times before; weak management link really helps them.
3. When there are weak management links (CFO, Legal Counsel) this makes manipulation easier; weaknesses are gifts to enemies a weak IR (fair to assume Mike has no aptitude in the subject, given his background) which merely relies on investor conferences imprudent use of ATM
Unfortunately KPTI seems to have all these symptoms. Two powerful positive PRs succeeded with a sharp drop in valuation. The reason is irrelevant. This is a clear cut, cut throat war, which Kauffman's team helped fuel by totally ignoring it...
Kind Regards
Lousy Management & Board Running Company To The Ground
Lousy Management & Board Running Company To The Ground
Good write up:
https://www.linkedin.com/feed/update/urn:li:share:7075581472337788929/
To add to it, lots of other things they can do to save costs, listed below - but the culture is cancerous and needs severe treatment like firing of some of the lousy executives whose incompetence has cost shareholders hundreds of millions of dollars. Richard Paulson and that lousy Board of Directors are responsible. They were warned a long time ago.
Lousy CEO, Richard Paulson & Board, were warned a long time ago
I warned Richard Paulson and the clowns on the Board (Garen Bohlin, Barry Greene, Mansoor Raza Mirza, Peter Honig, Christy Oliger, Deepa Pakianathan, Chen Schor) multiple times of exactly what will ensue if they continue their incompetent path - and I provided specific recommendations - but the clowns ignored it. I hate to say "told you so".
PS - Deepa saw the writing on the wall and cashed in big time right before Siendo. But Mike Mano tried to cover up for her (in the most stupid way).
52-week Low Shit Show
52-week Low Shit Show
KPTI trading at almost 52 week low, below cash value, not considering their huge debt overhang -- imagine Mike Mason having to deal with that -- I think he will just dilute the daylight out of the stock -- that's their modus operandi -- with Mike Mano helping and Richard Paulson leading, I am certain it'll be another disaster like the private placement these clowns did. They simply have no clue what it takes to drive shareholder value.
Despite their terrible performance, Richard Paulson, Mike Mason, Mike Mano get at least $10,000 a day in total, on top of getting their faces fed with free catered lunches every day. The useless Board is still giving themselves a ton of money despite their ruining of company value. Their idea of cost savings is the most incompetent I've ever seen. An over-staffed Fun Science Club with a disgustingly fat, wasteful culture, funded by shareholders. I don't know how low the stock has to go for these clowns to get fired. All IMHO.
Short Interest
Short Interest
Shorts have covered 4.5 million shares since these bozos did the private placement and ignorantly bailed some shorts out - IMHO.
Lame-ass Mismanagement
Lame-ass Mismanagement
Lameass CEO/CFO/Legal-Counsel's clueless mismanagement of the company killed the share price. The suckers were warned when the price was much higher. It tanked from 11 to 2 on this lameass CEO's watch, down to 5 and then Wall Street screwed them with that lousy Private Placement this clueless gang executed. They killed the share price by their mismanagement, and are still feeding us the same BS while taking home big sums of money, and free lunches. And Paulson, Mason, Mano are getting like 2.3 million (total, 2022 rate), for their piss poor performance. They should all get fired. All in my frustrated pissed opinion.
Cost Savings?
Cost Savings?
It's comic to hear Richard say his team is perfect, and how you're saving costs and driving value.
This is a current job posting: https://careers-karyopharm.icims.com/jobs/2182/administrative-assistant-%e2%80%93-part-time/job
"Order, set up and clean daily catered lunches for all employees"
That's how you save costs at the Fun Science Lab! I'm guessing Michael K., and Sharon liquidated their shares, knowing the caliber of executives they hired.
Spend on!
"Driving Shareholder Value"
"Driving Shareholder Value"
I can't believe Richard Paulson has the nerve to talk about driving value for shareholders while they're burning cash like crazy on their fat salaries and bonuses, 6-figure money giveaways, and they have the nerve to have a job posting for someone to administer daily free catered lunches for all employees to feed their fat faces with, paid by shareholders, and they don't even have the competence to get a private placement done effectively without throwing shareholders under the bus. IMHO.
Good questions by Jeffery's analyst. As usual Richard Paulson is full of excuses for his being a lousy CEO, IMHO.
Huge Debt Overhang
Huge Debt Overhang
Mike Mason, Richard Paulson, Mike Mano are exactly the perfect team to screw up handling the huge debt overhang.
Repercussions of Founder's Syndrome and Richard Paulson's Failed Turnaround
Repercussions of Founder's Syndrome and Richard Paulson's Failed Turnaround
Karyopharm had an acute case of Founder's Syndrome with Mike Kauffman as CEO -- he had no prior experience as a successful CEO -- only company he was a CEO was went bankrupt. He's a great doctor and scientist but a miserable CEO. He was replaced by Richard Paulson. Many believe it was my activism that helped facilitated Kauffman's departure -- and I believe it to be true -- it was a catalyst -- otherwise he would have continued as CEO for a much longer period. Sharon Shacham, married with Kauffman is a wonderful scientist. She was the President while Kauffman was CEO.
Paulson kept two, in my view, weak members of Kauffman's executive team - CFO Mike Mason and Legal Counsel Mike Mano. Kauffman hired these low-caliber executives because he was a terrible CEO and weak CEOs hire people who are weaker than themselves while great CEOs hire people who are better than themselves.
I'm sure they're nice, good people, but in their roles in supposed goal of creating shareholder value they have been a failure. The stock has gone from 20's to 2's. That says enough.
Paulson failed to build a top performant team. He's still running a fat, over staffed shop of some 400 people, and spending money like crazy, and with that CFO and the wasteful culture, their idea of cost savings is a pipe-dream. They have not done what I have seen great companies do in terms of cost savings. At the same time, even when the stock is in the 2's, they continue to waste a huge amount of shareholder funds.
They're getting daily catered free lunches to all employees, they're making 6 figure donations, etc. etc. -- an absolutely disgusting picture in my view of horrific management for shareholders, while they profit handsomely from the status quo. Daily free lunches to stuff their faces with, fun events, fat salary and bonuses, while at the same time we see symptoms of a reactive, weak management which gives rise to impression of irresponsibility, which matches the spending craze.
There are many facets to the mismanagement which I don't want to waste time here to reiterate -- always having excuses -- over promising and under delivering, and so on. Just a disaster management team in my view. They do have a couple of hotshot executives but a band is as stronger as its weakest member.
Drunken-sailor spending style
Drunken-sailor spending style
Are Selinexor's sales enough to sustain the drunken-sailor spending style of this company? They're booking 10s of millions of losses a month but spending like it's their rich daddy's money, giving away 6 figure donations, free daily catered lunch for all employees, events, parties, fat bonuses for the board and executives, based on an in my view, dysfunctional, irresponsible attitude of spend like crazy and when money runs out dilute, and fk the shareholders, just use them as ATM machines, we sold them shares in the 20's, we sell them shares in the 2's who gives a fk, as long as we can get our free lunches and CEO gets his million+ package and Legal Counsel and CFO get their 600k+ package, and same with the Board, most of whom are a reason for this disaster as they've been on that board for many years. The only salvation in my view is a new CFO, LC, CEO but they're too complacent and comfortable and "fat" to change anything. Richard has proven to be a failure CEO. All IMHO.
SPENDING CRAZE
SPENDING CRAZE
Investor: "The company acts like there is a great future pile of money waiting for them so they didn't bother to cut cost. The stock price sure is foretelling the company going to ground by making new lows almost everyday."
In my view, the corporate culture has spending cancer. It started with Mike Kauffman's horrible mismanagement as CEO and Richard Paulson has proven to be extremely weak, and CFO Mike Mason is the worst CFO I've ever seen in all my years of Biotech investing. I don't believe they can self-cure, even if they have every employee drink selinexor smoothie every morning :-) They need new blood at the top - new CFO and CEO since I don't see Paulson bringing any changes to management. The current arrangement is very profitable for themselves. Daily catered free lunches haha, fat salaries and bonuses, parties and events, life's good at the Fun Science lab. They even donate 6 figures to various causes that don't increase company value a penny.
KARYOPHARM'S SERIOUS MANAGEMENT ISSUES AND CANCEROUS SPENDING CULTURE
KARYOPHARM'S SERIOUS MANAGEMENT ISSUES AND CANCEROUS SPENDING CULTURE
There's a difference when some of your top executives are a gang who can't shoot straight. They're spending like a drunken sailor. It's easy to say for get MM but it's MM that's bringing the cash in plus shareholders, so they can spend like crazy, feed their fat faces with free catered daily lunches, apparently have monthly parties, give hundreds of thousands of dollars away to various causes that don't help increase shareholder value a dime.
The culture has spending cancer. Senior industry guys told them this since the stock was above $10 (I have copy). They've effed up big. When a stock is this low, it's easy to control it. If they rev split, given their foolish management practiced, shorts will walk it right back down.
Unfortunately, MM does count. Lagging sales will hurt the stock no matter how realistic that is. At a minimum they need a new CFO, LC, maybe CEO. IMHO.
They absolutely should have gotten conditional approval in SIENDO.
They absolutely should have gotten conditional approval in SIENDO.
They absolutely should have gotten conditional approval in SIENDO. The reason they didn't get it is b/c they suck at anything beyond end of their nose, including politics of power which they're clueless about -- and with that Legal Counsel Mike Mano, they've become the perfect punching bag for shorts and manipulators and we know they sometimes affect FDA so it could have been related. It's a done deal. It won't come any more -- even if it were possible with appealing etc., it's not in their DNA to think like that. All IMHO.
Karyopharm's lousy leadership always has an excuse
Karyopharm's lousy leadership always has an excuse
This is NOT an investment advice. Just sharing ideas.
I know several people who are very frustrated at KPTI, including myself, at the stock's performance, which in my view is the direct result of the company's mismanagement.
It's like what you don't believe would happen does, by this lousy management team (with exception as they have some very good people too).
I warned Richard Paulson a year ago about certain things he ignored -- I hate to say "told you so". One being the peril of over-promising and under-delivering.
As a professional program/project manager, I do NOT like excuses. Karyopharm's lousy leadership always has an excuse.
Also several investors are very tired of the spending spree. I concluded it's an organizational cancer -- a wasteful splurging sick culture that was built by the founder of the company Michael Kauffman and his wife, a very nice lady, and they're both great scientists, but he was a terrible CEO. Some attribute his expedited ousting to my activism.
The new chap, Richard Paulson, is a schmuck in my view. He has the nerve to say on the investor call he has a great team while this is one of the worst teams I've ever seen because of his weaknesses as a CEO, and our horrible CFO Mike Mason, and terrible Legal Counsel, Mike Mano -- all adjectives are my opinions.
Maybe selinexor can cure the organization's spending craze cancer but I think it's impossible without new blood - new CFO, Legal Counsel and even a new CEO. They're knee deep part of the dysfunctional status quo that benefits everyone except shareholders.
The suckers have an open position now for an admin to coordinate daily catered free lunches for all employees. And they have some 400 employees and today gave stock options to 8 new ones. Their empire keeps getting bigger, sustained by shareholders who are fed up.
Paulson and Mason clearly have no clue what real cost cutting is. It should include things like across the board lay offs, travel freeze, salary freeze, hiring freeze, executive pay cut, etc. -- They don't do any of this apparently and only reduced costs by the amount they reduced their miserable incompetent guidance last quarter.
To add salt to the wound, they're donating 6 figures to charities. They're burning through tens of millions a month in losses and are still splurging like a drunk sailor.
I just noticed they gave another huge donation to anther cause. It's an organizational cancer in my view -- spending cancer.
They clearly have no clue how to build shareholder value and it's not even important for them in my view. Their priority seems to be their free catered free lunches, fat pay checks, bonuses, apparently monthly parties, and all the fun in the Fun Science Lab called Karyopharm. Richard Paulson takes home a package worth over a million dollars a year. Mason and Mano's is over 600,000, plus plus.
Some ask what to do? I certainly am not in a position to give investment advice, never have, and never will. Someone told me today he's considering selling but maybe he should keep. I just don't know -- I can only decide for myself and can't give any tips because I just don't know. They may be able to pull it off. But a news item today about a CAR-T therapy raises questions in my mind: "More than 90% of the 74 patients treated at Hadassah went into complete remission, the oncologists said". I don't have the medical expertise to assess this properly but as a non-doctor layman when I hear 90% of Multiple Myeloma patients went into complete remission which is fantastic news for the patients -- that is not good news for KPTI.
Selinexor is used as bridge therapy to CAR-T but the big picture tells me if the Israeli therapy takes off (and it's supposed to be available in the US within a year), this could further eat into KPTI's revenue.
JP Morgan gives possibility of success for the big upcoming trials at 50-60% if I remember correctly.
Mind you the revenues should be a lot higher already but we have Mike Mano as Legal Counsel on whose watch the company's (wrong) view was online defamation is not actionable, and other strange things that give me the impression that Mano is the same caliber as Mason and they were both hired by Kauffman who was a horrible CEO and weak CEOs hire even weaker people as Steve Jobs' pointed out.
Perhaps they'll make it bigtime but it's against my investment philosophy to trust a lousy management team who seems clueless about cost control, who is on record for having destroyed massive amounts of shareholder value, and has been a gift to short sellers, including that disaster Private Placement the gang that can't shoot straight did -- imaging Mano, Mason, Paulson trying to do a deal !!
The stock has been kicked around like a old flat ball, precisely because of this lousy management team. They also have a couple of rock stars, whom I've always admired and praised, Reshma Rangwala and Sohayna Cheng -- two top notch ladies who've done great in leading the medical and the sales team. They're the lead singer and lead guitarist. But the bass player and drummer behind them sound amateur, and their conductor looks too complacent for his own good -- fat salary, spend like crazy, a useless Board that has his back and vice versa, and ability to dilute shareholders at will.
I even went as far as thinking these guys are only in this for themselves -- I had this feeling when Kauffman was there, and how they treated investors. The idea of the spending cancer culture is when you run out of money you just dilute - suckers are always there to give you money - but when the stock is so low dilution is more severe and can eventually debilitate a company.
Companies I've seen who just can't seem to get their spending under control, usually go bankrupt.
Talking about Dr. Kauffman, I'm guessing him and his wife, Dr. Shacham, have probably sold most of their shares. They're not officers or 5% holders so they don't have to disclose.
Mike Mason is a LOUSY CFO
Mike Mason is a LOUSY CFO
Mike Mason is a LOUSY CFO, in my opinion. There's always excuses. Management of revenues and expenses, and revenue projections, and consistently revising down, is simply a disaster, not to mention the lousy management of IR which reports into Mason, and his terrible performance at investor video conferences where he shows no interest, is bored, which supports his apparent shareholders unfriendly attitude. The worst CFO I've ever seen in my 20+ years of biotech investment. This latest disaster quarterly report should seal the deal and finally get Richard to think about spending some of the millions he's burning, to get a high quality CFO.
Over-promise, Under-deliver
Over-promise, Under-deliver
Over-promise, Under-deliver is recipe for disaster which is totally expected from a lousy CFO what Mike Mason is in my opinion based on his terrible performance and destruction of shareholder value on his watch, and runaway expenses, and totally irresponsible mismanagement of investor funds (e.g. giving over $100,000 to charity while the company is bleeding cash). Not to mention his terrible attitude towards investors and disastrous appearance at investor events, and the apparent sick attitude that the company is entitled to sustenance by investors which you apparently hate except when you need funds.
The useless Board is just as bad and don't seem to care that we have an in my opinion below average, mediocre CFO and Legal Counsel, and our CEO is too weak to take action and shake up the company and put some performant high-caliber people at the Caliber of Sohanya and Reshma. The Board just seems to care about their own fat salaries and fat bonuses regardless of company performance -- so it's like a private club, in my view -- scratching each others' backs while shareholder value tanks.
ENOUGH IS ENOUGH.
The best evidence that this management team and Board are absolute disasters with Paulson, Mason and Mano topping the bill as the weakest parts -- except for Sohanya and Reshma -- is the continuous revision of projected revenue which shows a HUGE incompetence of management which reinforces everything we know about Mike Mason and the rest of your gang who can't shoot straight, in having wrong, inept, terrible, bad ideas that you can just come up with guidance and it's ok to revise it down and bring whatever excuses which is just an excuse because you have a D-team, a gang who can't shoot straight.
WHAT IS IT GOING TO TAKE? HOW MANY HUNDREDS OF MILLIONS OF DOLLARS DO YOU NEED TO WASTE AND LOSE AND BURN THROUGH TILL THIS USELESS BOARD FINALLY CONCLUDES THAT COMPETENCE MATTER, CALIBER MATTERS, AND GET A CFO AND LEGAL COUNSEL AT THE CALIBER THE COMPANY DESERVES?
Or perhaps better yet, bring in a new CEO who is not so weak like Richard. Everything that is happening we predicted and communicated to Richard a long time ago -- it was too obvious -- but he was too naive and too weak to go against the fun-science-club lousy culture Dr. Kauffman built.
$36 million in SG&A in just 3 months
$36 million in SG&A in just 3 months
Our genius CFO burned through $36 million in SG&A in just 3 months -- serving catered free daily lunches for all employees, donating, monthly parties for employees (normal companies have a party once a year, or two parties max including Halloween -- but at Paulson's Fun Science Club over 400 people are burning through cash like there's no tomorrow.
What's going to take Richard to get it that Mike Mason canNOT pull it off? It's not in his DNA. And he's too deeply entrenched in the dysfunctional cash burning culture Mike Kauffman built because he was a clueless CEO and had a totally delusional outlook on investment community.
Companies who are so reckless with cash and the management is living up usually go bankrupt and that will be a HUGE BLACK MARK on all of your profile/person and the rest of board members.
Richard, you're either so inexperienced or so ignorant to not know what real cost saving looks like. But you need a new CFO for that -- Mason won't and can't do it - he's too incompetent for that, and too complacent like yourself Richard, in how the status quo benefits him.
Real cost cutting means:
§ LAYOFFS ACROSS THE BOARD -- like 10% from every single department no matter what. That's how good companies do it.
§ EXECUTIVE PAY CUTS -- you have enough stock options so put your money where your mouth is. If you cared about company value you wouldn't tolerate this wasteful culture and incompetent executives for another minute.
§ TRAVEL FREEZE -- only urgent travels, with CEOs signature are allowed.
§ SALARY FREEZE
§ HIRING FREEZE
§ ETC.
That's how good healthy companies with competent executives who are not in this for themselves and have the integrity to feel the sense of urgency when their mismanagement fires back, cut costs.
Richard, if you can't pull this off, quit.
I can't believe Garen, Barry, Deepa and the rest of the useless board even explicitly endorsed two horrible executives. Another sign you're in this for your selfish reasons and do not have the integrity or determination to do what it takes to build company value -- and if that's the case, that's horrible karma.
So ,stop this micky mouse, self-deception nonsense Richard that we have a great team blah blah -- wake up to the facts -- your team minus Reshma and Sohanya has been a catastrophe and so has your performance as CEO, as a result because you do not have the guts to get rid of these low-caliber people. I'm disgusted.
Fire Paulson, Mano, DiPaolo, Mason
Fire Paulson, Mano, DiPaolo, Mason
In our opinion: These people should be fired; One down (Mason is out already or latest 11/5); Three to go; Firing Paulson is priority; A new CEO will overhaul this wasteful charity “fun club” and transform it into a real business, and will bring a strong Legal Counsel who can think outside the box, and a HR lead who’s focused on maximizing productivity at minimum cost instead of maximizing the fun at shareholder cost. Paulson’s report card: 96% drop in the stock as he serves everyone daily catered lunches, and donates away our money, and splurges like there’s no tomorrow. Paulson and Mason have been the utmost disaster duo in wasting shareholder assets and runaway cost structure, tons of cross country flights that are not necessary; tons of events, outings, volunteering, internships, giveaways, plush, extreme benefits, work from anywhere all the time, like Club Med, 4.5 day work week, year-end paid leave, more vacation than 99% of American companies, etc. etc., all at the cost of shareholders. As though the great American economic engine wouldn’t turn if companies didn’t splurge like these losers of our money do. The Board and Paulson have been clueless, incompetent, or have had an ulterior agenda to destroy the current shareholder for the benefit of some other entity, while living it up and getting richer and richer by our money. The Board will be held accountable if the current nightmare continues. The stock will take off the day Paulson is fired.
WAKE UP RICHARD -- remember <>'s letter you IGNORED when the stock was 5 times higher
WAKE UP RICHARD -- remember <>'s letter you IGNORED when the stock was 5 times higher
It wasn't like Richard wasn't told. Recall my letter of July last year Richard, and many more before that. Recall Andrew Fischer's letter last year when the stock was 5 times higher before your inept gang that can't shoot straight (minus Sohanya and Reshma) demolished the price with your mismanagement as lead. And you're fooling yourself into believing your gang are executing to objectives -- that's the problem -- that's not enough -- counting beans. There's more to being a CFO than counting beans, feeding employees free catered lunches paid by shareholders and diluting, and you have the nerve in shareholder meeting to tell me you're controlling expenses!!
You obviously have no competence or clue about what expense control is - I worked in software in the software industry where if you didn't control expenses, ALWAYS tighten the belt, you'd die - and if you did, you ran a successful company and got taken over by IBM as we did.
Feeding employees faces with free catered lunch -- running a fun science club -- donating 6 figure -- and God knows the rest of the wasteful cost structure of the overweight, fat empire you've built -- and that CFO who seems to be in another universe (just look at the financial statements) -- not to mention the disastrous over promising and under delivering when you were specifically warned by people who obviously have a lot more experience than you and your incompetent gang who seems to just know how to run a fun show for your own sake. That's the sick culture that the last inept CEO built and his two guys who were worse than him have executive perfectly cleanly with the result of shareholder value being in the toilette.
But the buck stops at the top Richard, Barry, Garen, Deepa, et al., and if you don't get your act together you will be hit with the mother of all shareholder derivative lawsuits. This is NOT your private club. And for God's sake Richard, WAKE UP. I tried to wake you up last year. Andrew tried but you're in la la land my friend. You should know that competence matters. And if you obviously didn't have experience with dealing with Wall Street beasts who want to destroy you. But now you do, after you destroyed so much shareholder wealth. Now what? Do you finally get it that competence matters and are going to do some firing? Your team is a loser team who can't pull this off. Read Andrew's message again when the stock was 5 times higher just over a year ago before your gang messed it up.
Stop this Management by Excuses
Stop this Management by Excuses
Bring some people who understand what it takes to build shareholder value -- and get results. Your CFO obviously does not understand and/or doesn't have what it takes. Same with your Legal Counsel -- do I need to remind you his history and the company's catastrophically incompetent and wrong beliefs about law, e.g. online defamation, which had a big impact on your sales, and it's ongoing and your team is baffled about it.
Andrew and I and some other veteran biotech investors have seen this play out in other companies -- you obviously have no clue, otherwise you'd bring a strong CFO and Legal Counsel. Reminder, Clovis that Andrew mentions is trading at 2 cents, and that's where your low caliber guys who can't see beyond the end of their nose are taking the company, and it's squarely your fault.
Here's Andrew's message from early 2022 that you ignored. WAKE UP RICHARD!
BARRY, GAREN, DEEPA same to you -- it would be a shame for your resumes to reflect how you've so badly messed up by doing nothing for the money you're paid that makes any difference and failed your duties and you will be held accountable if Richard doesn't get his act together. 10m saving when you lower guidance by 10m is ZILCH. We need a significant cost reduction and a shake up of this Fun Science Lab and it's impossible with this CFO in place.
Fire CFO Mike Mason.
Fire CFO Mike Mason.
A company that's losing money should not be donating in excess of $100,000. This is exactly a symptom of the sick Kauffman culture which views money as infinite an feels entitled to endless funding by shareholders, then spend it like crazy and benefit everybody except shareholders. This CFO, CEO, LC, Board do not have the judgment, values, mindset towards responsible management of money, in my view, except to secure their own salaries and fat bonuses. Shareholder value has tanked over the years because of the same ineffective, low-caliber management Kauffman hired that Paulson never had the guts and resolve to replace with high caliber people. So same people doing the same thing means shareholder value erosion. I'm so pissed at this company continuing to act like a charity, a fun science lab, and burning through shareholder funds so irresponsibly. Mason, Mano and the entire board should quit, and the company will be better off without such excess fat.
Another $100,000 burnt by Mike Mason's Fun Science Lab
Another $100,000 burnt by Mike Mason's Fun Science Lab
I don't know what you guys are thinking burning through cash like that. I know Mike Kauffman / Mano / Mason's fun science lab loved to spend money, thinking it can always try to schmooze shareholders for more cash before it turns its back on them again. Richard brought changes but was too weak to cut into the root of the that problem mentality, that everyone benefits except shareholders -- it's inflow for everyone except outflow for shareholders.
So you just burnt another $100,000. How about spending that money to attract a top notch CFO who knows how to build shareholder value?
Think of those who bought your story when the stock was in the 20's. Bagholders who got sucked into a management who doesn't grasp simple equations like what constitutes shareholder value. If it did, it wouldn't be throwing away money that it's not making. It's utmost arrogant and irresponsible to spend at the rate Mike Mason is spending. But the buck stops at the top, and this is all Richard's problem who never had the courage to rattle the dysfunctional aspects of the culture he inherited -- so the same people doing the same things, and shareholder value has tanked as a result.
Illegal Chinese Bootlegger, Cato-Chem
Illegal Chinese Bootlegger, Cato-Chem
https://www.rezamusic.com/various/illegal-chinese-bootlegger-cato-chem
Of course Richard Paulson and Mike Mano did nothing about it. It's not in their DNA.
$13.80 To $0.33
$13.80 To $0.33
From $13.80 to $1.12. One undeniable fact is company's Board & CEO have been utter failures in driving company value! If they don't see this, they're in la la land, living in a delusion. You can't debilitate the company Lisa so you can run a trial you don't have money for. Another few cents of drop and we lose more investors, and will get de-listing notice eventually, and with a float this size, you can't (shouldn't) do RSS, and Pink Sheet will be no fun. This is a prescription for a CEO who is apparently detached from realities that dictate things like, you can't dilute a $1.12 stock to fund a trial !
Investor: "Still holding, averaged down at $2.60 a while ago, hopeful for a sale some time in the next 12 months."
Investor: "Still holding, averaged down at $2.60 a while ago, hopeful for a sale some time in the next 12 months."
Selinexor in patients with advanced and recurrent endometrial cancer
Selinexor in patients with advanced and recurrent endometrial cancer
Selinexor is an orally bio-available, highly-selective, and slowly-reversible small molecule that binds to the Cys528 residue in the cargo-binding pocket of XPO1. Dysregulation of XPO1 has an important role in the development of different tumors. Furthermore, XPO1 dysregulation is associated with worse survival outcomes and resistance to various treatments, including chemo and targeted therapies, thus making XPO1 an attractive target for innovative treatments. Selinexor induces nuclear...
https://www.sciencedirect.com/science/article/abs/pii/S0147027223000168
Giorgio Bogani a, Bradley J Monk b, Robert L Coleman c, Ignace Vergote d, Ana Oakin e, Isabelle Ray-Coquard f, Andrea Mariani g, Giovanni Scambia h, Francesco Raspagliesi a, Bruno Bolognese i
§ Fondazione IRCCS Istituto Nazionale dei Tumori di Milano, Milan, Italy
§ HonorHealth, University of Arizona, Creighton University, Phoenix
§ University of Texas MD Anderson Cancer Center, Houston, TX
§ University Hospital Leuven, Leuven, Belgium
§ Vall d'Hebron Institute of Oncology (VHIO), Barcelona, Spain
§ Université Claude Bernard Lyon Est Lyon, Villeurbanne, France
§ Mayo Clinic, Rochester, MN
§ Fondazione Policlinico Universitario A Gemelli IRCCS, Rome, Italy
§ Oncopepdides AB, Stockholm, Sweden
§ Received 11 March 2023, Revised 4 May 2023, Accepted 10 May 2023. Available online 30 May 2023.
FORUS Therapeutics Inc and the Pan-Canadian Pharmaceutical Alliance (pCPA) Complete Negotiations for XPOVIO(R)(selinexor)
FORUS Therapeutics Inc and the Pan-Canadian Pharmaceutical Alliance (pCPA) Complete Negotiations for XPOVIO(R)(selinexor)
§ The pCPA agreement will support the public listings and reimbursement of XPOVIO.
§ XPOVIO represents the first new drug class for the treatment of early relapsed or refractory multiple myeloma introduced into Canada within the last 7 years.
§ XPOVIO, a Selective Inhibitor of the Nuclear Export (SINE) protein XPO1, offers myeloma treaters and patients a unique mechanism of action that works effectively with other treatments and provides rapid and durable responses.
Oakville, Ontario--(Newsfile Corp. - May 24, 2023) - FORUS Therapeutics Inc ("FORUS") and the pan-Canadian Pharmaceutical Alliance ("pCPA") have completed negotiations with a Letter of Intent (LOI) for XPOVIO®(selinexor) in combination with bortezomib and dexamethasone for the treatment of adult patients with multiple myeloma (MM) who have received at least one prior therapy.
https://www.newsfilecorp.com/release/167277/FORUS-Therapeutics-Inc-and-the-PanCanadian-Pharmaceutical-Alliance-pCPA-Complete-Negotiations-for-XPOVIORselinexor
Karyopharm to Present New Selinexor Data at the 2023 American Society of Clinical Oncology and European Hematology Association Annual Meetings
Karyopharm to Present New Selinexor Data at the 2023 American Society of Clinical Oncology and European Hematology Association Annual Meetings
NEWTON, Mass., May 23, 2023 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that several abstracts detailing new selinexor data have been selected to be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, being held June 2-6 in Chicago, Illinois and the 2023 European Hematology Association (EHA) Hybrid Congress, being held June 8-11 in Frankfurt, Germany.
"We've made significant strides advancing our pipeline and demonstrating the potential benefit that XPO1 inhibition can deliver to patients with cancers characterized by high unmet needs," said Reshma Rangwala, MD, PhD, Chief Medical Officer of Karyopharm. "The presentations at ASCO and EHA highlight our continued pursuit of transformative research to positively impact patients' lives and ultimately defeat cancer."
Details for the ASCO abstracts are as follows:
https://investors.karyopharm.com/2023-05-23-Karyopharm-to-Present-New-Selinexor-Data-at-the-2023-American-Society-of-Clinical-Oncology-and-European-Hematology-Association-Annual-Meetings
Selinexor: Targeting a novel pathway in multiple myeloma
Selinexor: Targeting a novel pathway in multiple myeloma
Clifton C. Mo, Andrew J. Yee, Shonali Midha, Monique A. Hartley-Brown, Omar Nadeem, Elizabeth K. O'Donnell, Giada Bianchi, Adam S. Sperling, Jacob P. Laubach, Paul G. Richardson
https://onlinelibrary.wiley.com/doi/10.1002/jha2.709
In conclusion, XPO1 inhibition has been shown to be a rational targeted therapeutic approach in MM, with demonstrated downstream antimyeloma effects with selinexor in combination with a range of other established MM drugs. Selinexor has shown activity in doublet, triplet and quadruplet regimens in RRMM, including in evolving settings in the treatment algorithm such as post-CAR T-cell therapy and post-bispecific antibody therapy. Moreover, as more patients are treated with anti-CD38 mAb-based regimens and dual-agent maintenance in the first-line setting, it will become increasingly important to have agents and regimens with novel mechanisms of action available to patients in early lines of therapy for relapsed disease, especially those with high-risk cytogenetic abnormalities such as 17p deletion. It is conceivable that XPO1 inhibition, achieved through low and well-tolerated dosing, may ultimately prove to be of benefit to patients as part of a combinatorial strategy in the first line, with clinical trials planned in this setting. Selinexor's safety profile is well characterized and can be managed with appropriate supportive care, with particular attention to the gastrointestinal toxicity associated with the agent. In summary, SINE compounds exploit a novel mechanism of action and thus provide an alternative approach for targeting MM, which is valuable in the context of patients commonly requiring multiple lines of therapy over their treatment course. Selinexor—and potentially the next-generation SINE compounds, such as eltanexor, which has a substantially reduced ability to cross the blood–brain barrier that may translate into less toxicity such as fatigue, and thus potentially higher effective drug levels [29, 108]—will thus continue to play an important role in the treatment of patients with RRMM.
RIDDLE-M-X FOR TRANSPLANT ELIGIBLE NEWLY DIAGNOSED MULTIPLE MYELOMA (PHASE II) - AMaRC 21-04 - STUDY TITLE: Risk Directed front-line therapy for Multiple Myeloma incorporating Selinexor: The RIDDLE-M-X trial
RIDDLE-M-X FOR TRANSPLANT ELIGIBLE NEWLY DIAGNOSED MULTIPLE MYELOMA (PHASE II) - AMaRC 21-04 - STUDY TITLE: Risk Directed front-line therapy for Multiple Myeloma incorporating Selinexor: The RIDDLE-M-X trial
Selinexor is part of a group of drugs known as 'selective inhibitors of nuclear export'. Selinexor works by blocking the action of a protein called XPO1 in myeloma cells. This blocks the transport of several proteins involved in cancer cell growth, which ultimately leads to myeloma cell death. There is evidence to show that selinexor is more effective than the existing PBS treatments for MM.
https://www.amarconline.org/clinical-trials/riddle-m-x
ARRAY PHARMA EXAMPLE
ARRAY PHARMA EXAMPLE
"I witnessed Array Biopharma go from $3 to $48 (Pfizer acquisition) in a short period of time off clinical milestones. So I know it is possible.
$260ish million of cash on hand currently trading at $275 million market cap. I feel like no matter how strong of power shorts have, cash per share has been a hard bottom that’s been traded up from many times.
I believe issuing a ballot to increase available shares for issuance right before a major clinical readout put a cap on how high the stock could go. That was the epitome of a blunder IMO
I think they sabotaged the three directors on the ballot by including the available shares for issuance on the same ballot. I believe shareholders are inclined to vote no across the board. But maybe that’s what the Board needs to see, they are expendable and accountable too
I don’t think they will piece meal sell indications (MM). There are a lot of loss carry forwards on the books that I think is more attractive to one single buyer."
Antengene Announces NDA Submission for XPOVIO® in Indonesia
Antengene Announces NDA Submission for XPOVIO® in Indonesia
https://www.prnewswire.com/apac/news-releases/antengene-announces-nda-submission-for-xpovio-in-indonesia-301825875.html
SHANGHAI and HONG KONG, May 17, 2023 /PRNewswire/ -- Antengene Corporation Limited ("Antengene" SEHK: 6996.HK), a leading innovative, commercial-stage global biopharmaceutical company dedicated to discovering, developing and commercializing first-in-class and/or best-in-class therapeutics in hematology and oncology, today announced that it has submitted New Drug Applications (NDAs) for XPOVIO® (selinexor) to the Indonesia National Agency of Drug and Food Control (BPOM) for the treatment of relapsed/refractory multiple myeloma (R/R MM) and relapsed/refractory diffuse large B-cell lymphoma (R/R DLBCL). In Q4 2022, Antengene also submitted NDAs for XPOVIO® in Malaysia and Thailand.
"In just six months, we have submitted NDAs for XPOVIO® in three ASEAN countries, Malaysia, Thailand and Indonesia, supporting our plans to expand commercial presence in the APAC region," said Thomas Karalis, Antengene's Corporate Vice President, Head of Asia Pacific Region. "In a region characterized by countries with large populations and in many cases a lack of access to novel therapeutics, patients with R/R MM or DLBCL have urgent unmet needs for innovative, effective treatments. We hope XPOVIO® can address this unmet need and bring a new treatment option to patients with R/R MM and R/R DLBCL in these underserved markets."
Nuclear export inhibitor Selinexor enhances oncolytic myxoma virus therapy against cancer
Nuclear export inhibitor Selinexor enhances oncolytic myxoma virus therapy against cancer
https://aacrjournals.org/cancerrescommun/article/doi/10.1158/2767-9764.CRC-22-0483/726421/Nuclear-export-inhibitor-Selinexor-enhances?sf177982685=1
Additionally, we performed global-scale proteomic analysis of nuclear and cytosolic proteins in human cancer cells to identify the host and viral proteins that were upregulated or downregulated by different treatments. These results indicate, for the first time, that selinexor in combination with oncolytic MYXV can be used as a potential new therapy.
CTIC
CTIC
CTIC just purchased for $1.7B with $50mil annual revenue and Mylofibrosis drug that is second line therapy. KPTI worth more.
MDS
MDS
"Just for MDS indication being discussed today this represents a major improvement over SOC. If it works as a solo agent (w/o Jakafi), it would be a blockbuster drug. Also JAK inhibitors in the space will be coming off patent (Jakafi estimated at '28) and, if needed adjunctively would not make a great cost burden once off patent. Jakafi quarterly revenues are > mkt cap of $KPTI"
KPTI New Price Target by Robert W. Baird: $10
KPTI New Price Target by Robert W. Baird: $10
$10 target. Current price: $2.77 on 4 May 2023
Karyopharm Announces Presentation of Interim Data from Phase 2 Study of Single-Agent Eltanexor in Relapsed/Refractory (R/R) Higher-Risk Myelodysplastic Neoplasms (MDS) at 17th International Congress on MDS
Karyopharm Announces Presentation of Interim Data from Phase 2 Study of Single-Agent Eltanexor in Relapsed/Refractory (R/R) Higher-Risk Myelodysplastic Neoplasms (MDS) at 17th International Congress on MDS
– Relapsed/Refractory MDS Patients Achieved Median Overall Survival of 8.7 months –
– Historically, Median Overall Survival in this Hard to Treat Patient Population is Only 4-6 Months1,2 –
– Results Indicate Potential Single Agent Activity of Eltanexor in Patients with R/R MDS –
https://investors.karyopharm.com/2023-05-03-Karyopharm-Announces-Presentation-of-Interim-Data-from-Phase-2-Study-of-Single-Agent-Eltanexor-in-Relapsed-Refractory-R-R-Higher-Risk-Myelodysplastic-Neoplasms-MDS-at-17th-International-Congress-on-MDS
"Existing first-line treatments for higher risk MDS are not typically curative; approximately half of these patients do not respond. Upon progression, median overall survival for these higher risk, relapsed or refractory MDS patients is approximately four to six months. There is a critical need for novel and more effective treatment options for this patient population," said Reshma Rangwala, MD, PhD, Chief Medical Officer of Karyopharm. "We are encouraged by the improved overall survival observed to date with eltanexor in this higher risk patient population. These preliminary results are promising and reinforce the potential of XPO1 inhibition to provide meaningful clinical benefit to patients with relapsed/refractory myelodysplastic neoplasms."
Approximately 12,000 to 20,000 people in the United States are diagnosed with MDS each year, with an estimated 87,000 new cases each year worldwide3. HMAs are the current standard of care for newly diagnosed, higher risk MDS patients, who are not candidates for transplant. However, only about 50% of patients respond, with these responses typically lasting less than two years.4 The prognosis of higher risk relapsed/refractory disease is poor, with a median overall survival of four to six months.1,2 There are a limited number of novel agents currently in clinical development for relapsed refractory MDS.
Safety, tolerability, and clinical activity of selinexor in combination with pembrolizumab in treatment of metastatic non–small cell lung cancer
Safety, tolerability, and clinical activity of selinexor in combination with pembrolizumab in treatment of metastatic non–small cell lung cancer
https://acsjournals.onlinelibrary.wiley.com/doi/abs/10.1002/cncr.34820
Selinexor in combination with pembrolizumab demonstrated promising antitumor activity in patients with mNSCLC, including those who had previously received anti–PD-1/PD-L1 therapy. The therapy-related toxic effects were consistent with the prior safety data for both drugs, and no overlapping toxic effects were observed.
Mehmet Altan MD, Janet Tu MD, Denái R. Milton MS, Bulent Yilmaz MD, Yanyan Tian PhD, Frank V. Fossella MD, Frank E. Mott MD, George R. Blumenschein MD, Bettzy Stephen MBBS, Daniel D. Karp MD, Funda Meric-Bernstam MD, John V. Heymach MD, PhD, Aung Naing MD, FACP
Menarini-Stemline Industry Symposium
Menarini-Stemline Industry Symposium
https://comylive.cme-congresses.com/menarini-stemline-symposium/
XPO-1 inhibitors in myeloma: where do we stand?
Saturday, May 13, 2023
09:10–09:55 CEST
Beyond Immunotherapy Treatment for Patients With Recurrent Metastatic Endometrial Cancer
Beyond Immunotherapy Treatment for Patients With Recurrent Metastatic Endometrial Cancer
Updates From the ESMO Gynecological Cancer Congress
https://www.hmpgloballearningnetwork.com/site/onc/conference-coverage/beyond-immunotherapy-treatment-patients-recurrent-metastatic
New Analyst Ratings
New Analyst Ratings
21 April 2023:
Robert W. Baird Sticks to Its Buy Rating for Karyopharm Therapeutics (KPTI)
SVB Securities Reaffirms Their Hold Rating on Karyopharm Therapeutics (KPTI)
13 April 2023:
RBC Capital Keeps Their Buy Rating on Karyopharm Therapeutics (KPTI)
Selinexor/Ruxolitinib Combo Elicits Sustained Spleen Responses, Improves Symptoms in Myelofibrosis
Selinexor/Ruxolitinib Combo Elicits Sustained Spleen Responses, Improves Symptoms in Myelofibrosis
The combination of selinexor (Xpovio) at 60 mg and ruxolitinib (Jakafi) induced rapid and durable spleen responses and improved symptoms at weeks 12 and 24 in patients with treatment-naïve myelofibrosis, according to updated data from the phase 1 XPORT-MF-034 trial (NCT04562389) presented at the 2023 AACR Annual Meeting.1,2
“We are enthusiastic about the impressive spleen volume reductions and robust symptom improvement observed with the 60-mg dose of selinexor and ruxolitinib combination at week 24, which represent very meaningful improvements relative to the current standard of care of ruxolitinib alone,” Reshma Rangwala, MD, PhD, chief medical officer of Karyopharm, stated in a press release. “These data suggest that the combination of selinexor and ruxolitinib has the potential to be a transformative therapy for first-line myelofibrosis patients.”
Selinexor was found to be well tolerated overall, at both dose levels examined. The majority of patients were able to continue to receive treatment for up to 68 weeks as of the data cutoff date.
GREAT RESULTS
GREAT RESULTS
CT261 / 1 - A Phase 1, open-label, dose-escalation study of selinexor plus ruxolitinib in patients with treatment-naïve myelofibrosis
Abstract of CT261 / 1 - A Phase 1, open-label, dose-escalation study of selinexor plus ruxolitinib in patients with treatment-naïve myelofibrosis
https://www.abstractsonline.com/pp8/#!/10828/presentation/10345
Conclusions To date, in pts with treatment-naïve MF, the novel combination of SEL and RUX has been reasonably well-tolerated with a generally manageable safety profile and has shown encouraging activity in spleen and symptom responses, in addition to hemoglobin stabilization. Updated safety and efficacy, including symptom data amongst those pts non evaluable for TSS50 at the time of the Oct data cutoff, as well as RP2D, will be available for presentation at AACR 2023.
City of Hope scientists present potential new treatments for chronic lymphocytic leukemia, myelofibrosis and other diseases at American Association of Cancer Research (AACR) Annual Meeting
City of Hope scientists present potential new treatments for chronic lymphocytic leukemia, myelofibrosis and other diseases at American Association of Cancer Research (AACR) Annual Meeting
Myelofibrosis is a different and rare type of blood cancer that disrupts the production of red blood cells and causes scarring in bone marrow. In a poster session, Haris Ali, M.D., City of Hope associate professor in the Division of Leukemia, Department of Hematology & Hematopoietic Cell Transplantation, will present results from "A Phase 1, open-label, dose-escalation study of selinexor plus ruxolitinib in patients with treatment-naïve myelofibrosis," which investigated a combination therapy as an upfront treatment of the disease.
In the trial, Ali and other researchers evaluated a combination of the anti-cancer drug selinexor with ruxolitinib, a chemotherapy, in patients who had not yet been treated for myelofibrosis. They found the therapy to be well-tolerated and effective at causing an early response with spleen volume reduction and symptoms improvement.
"The future of myelofibrosis for upfront treatment will be combinations like the one we've been testing for a faster, deeper and prolonged response," Ali said. "We hope over time that we will see this combination therapy prevent, or at least delay, progression of myelofibrosis."
https://www.prnewswire.com/news-releases/city-of-hope-scientists-present-potential-new-treatments-for-chronic-lymphocytic-leukemia-myelofibrosis-and-other-diseases-at-american-association-of-cancer-research-aacr-annual-meeting-301798389.html
Karyopharm To Present Data from Phase 1 Study of Selinexor in Patients with Treatment-Naïve Myelofibrosis at AACR and to Host Investor Webcast on April 18th
Karyopharm To Present Data from Phase 1 Study of Selinexor in Patients with Treatment-Naïve Myelofibrosis at AACR and to Host Investor Webcast on April 18th
– Updated Safety and Efficacy Data Will be Presented in a Poster Session at AACR 2023 from All Patients Enrolled in the Phase 1 Study –
– Company to Host Investor Webcast Featuring a Key Opinion Leader on April 18, 2023 at 4:30 p.m. ET to Discuss Updated Results –
https://investors.karyopharm.com/2023-04-14-Karyopharm-To-Present-Data-from-Phase-1-Study-of-Selinexor-in-Patients-with-Treatment-Naive-Myelofibrosis-at-AACR-and-to-Host-Investor-Webcast-on-April-18th
Antengene's presentation - Very Positive
Antengene's presentation - Very Positive
https://www.antengene.com/static/upload/sofa/20230403/146972d6883813dd2ba07ca4896dfa55.pdf
Good thread by Dr. Due Diligence: https://twitter.com/DueDoctor/status/1646650269902704640
Dr. DD's Myelofibrosis Hands down the BIGGEST SHOT on goal left - Competition, Status, and Catalysts for Second Line MF
Dr. DD's Myelofibrosis Hands down the BIGGEST SHOT on goal left - Competition, Status, and Catalysts for Second Line MF
https://www.reddit.com/r/KPTI/comments/12jqrkr/dr_dds_myelofibrosis_hands_down_the_biggest_shot/
Researchers discussed advances in assessing and treating deadly blood cancers.
Researchers discussed advances in assessing and treating deadly blood cancers.
https://physician-news.umiamihealth.org/sylvester-hosts-third-biennial-miami-leukemia-symposium/
Abstract 6188: Exportin 1 inhibition synergizes with lurbinectedin by altering the response to DNA damage in neuroendocrine lung tumors
Abstract 6188: Exportin 1 inhibition synergizes with lurbinectedin by altering the response to DNA damage in neuroendocrine lung tumors
https://aacrjournals.org/cancerres/article/83/7_Supplement/6188/723141/Abstract-6188-Exportin-1-inhibition-synergizes
Selinexor strongly synergized with lurbinectedin in both SCLC and LCNEC settings and induced a potent increase in the DNA damage marker γ-H2A, reflective of increased DNA damage induced by the combination treatment. Mechanistically, this combination altered DNA damage and DNA repair mechanisms by decreasing CHK1 and CHK2 protein levels in short-term treatments, suggestive of the impairment of DNA response. Additionally, selinexor reduced the expression of MLH, a key regulator of DNA mismatch repair in monotherapy and in combination with lurbinectedin. Consistent with these results, selinexor in combination with lurbinectedin also induced a significant increase in apoptotic cells and promoted cell cycle arrest.
Conclusions: These data indicates that inhibition of exportin 1 with selinexor in combination with lurbinectedin is a promising therapeutic strategy in lung NECs. Subsequent In vivo testing in patient-derived xenograft to study efficacy and toxicity of this combination will provide preclinical rationale for clinically exploring this combination in patients with lung NECs who have failed chemotherapy regimen.
Thoughts on Selinexor in Advanced Endometrial Cancer
Thoughts on Selinexor in Advanced Endometrial Cancer
https://www.reddit.com/r/KPTI/comments/125b761/dr_dd_thoughts_on_selinexor_in_advanced/
Overpaid Useless Board
Overpaid Useless Board
The useless board members get about $200,000 a year compensation for sitting on their ass doing nothing that translates to the reason they're put in that position: build shareholder value. They keep paying themselves big bucks as shareholders who trusted the gang that can't shoot straight have lost 80% of their investment. I'm voting WITHHOLD across the board. Also I hope Pakianathan gets her ass kicked of the board by a no confidence vote after her dumping shares before S data. This board and management team are a disgrace except for Rashma and Sohanya. In my opinion.
~~~
"to increase the number of authorized shares of our common stock from 200,000,000 to 400,000,000;"
NO. Mike Mason should go. Bring a new CFO.
Is Eltanexor a Dark Horse?
Is Eltanexor a Dark Horse?
https://www.reddit.com/r/KPTI/comments/12855i0/dr_dd_is_eltanexor_a_dark_horse_mds_interim_data/
RBC: selinexor MF spleen reduction efficacy data viewed as "remarkable"
RBC: selinexor MF spleen reduction efficacy data viewed as "remarkable"
Recap: Selinexor as a Treatment Option in Relapsed/Refractory Multiple Myeloma
https://www.cancernetwork.com/view/recap-selinexor-as-a-treatment-option-in-relapsed-refractory-multiple-myeloma
Clinical Trial - Selinexor (KPT-330) For MDS
Clinical Trial - Selinexor (KPT-330) For MDS
https://healthtree.org/mds/community/articles/selinexor-in-mds-clinical-trial
CEO Richard Paulson's Passivity
CEO Richard Paulson's Passivity
I agree BiotechInvestorNYC about Mr. Paulson's passivity:
"Those boards that want someone who is not going to push back or challenge the status quo would be excited to get someone like passive RP. He’s a disgrace to kpti and there is no skill set he brings that would qualify him to serve on any board other than he will be a team player and go along with management decisions. I wonder if he will be out in the compensation committee 🤔"
https://www.reddit.com/r/KPTI/comments/1260ao4/kpti_ceo_richard_paulson_joining_blue_board_of/
Antengene Selinexor Sales
Antengene Selinexor Sales
Antengene grew XPOVIO revenue 5.6x to $22M in 2022. Additional regions and indications expected to accelerate growth in 2023 ($100M?) and beyond, delivering double digit royalties and milestone payments to $KPTI while supporting the value of their key assets.
https://www.marketscreener.com/amp/quote/stock/ANTENGENE-CORPORATION-LIM-119080108/news/Antengene-Announces-Results-for-Full-Year-2022-with-Updates-Highlighting-a-Revenue-Reaching-5-6-Time-43368551/
I Got An Anti-Semite's KPTI Poster Account Permanently Closed
I Got An Anti-Semite's KPTI Poster Account Permanently Closed
https://www.rezamusic.com/writings/essays-and-short-pieces/Got-Anti-Semitic-Mans-Account-Banned-And-Posting-History-Deleted
Patient Speaks
Patient Speaks
https://twitter.com/LindaMyeloma/status/1638140215033229315?s=20
Linda F Huguelet
@LindaMyeloma
Began Selinexor/Kyprolis/dex as 4th line of treatment a few weeks ago. Looking forward to first lab evaluation next week. Happily not experiencing any GI side effects. #MYelomaSTORY #mmsm
https://twitter.com/JackMAiello/status/1637129370711261184
Jack Aiello
@JackMAiello
Selinexor (Xpovio) should be considered as a treatment option for #myeloma. Optimal timing and drug combination of selinexor in multiple myeloma: a systematic review and... - https://goo.gl/scholar/AK8sNB #ScholarAlerts
Valuation / $30 buyout
Valuation / $30 buyout
$3 billion valuation means $26 a share. Just to give you an idea how undervalued KPTI is, in my view. And Watson66 predicts $5 billion next year which is doable given how much data we're expecting. That would be $44 a share. A 10-bagger from here? I think it's realistic. But I think the company will get bought out before that for something like 3.5 billion ($30 a share) but I don't have confidence in the current team to be able to negotiate a deal effectively. We need a new CFO and Legal Counsel to start talking major league.I just don't see how Mike Mason and Mike Mano can be involved in getting a good deal for the company.
March 2023 Corporate Presentation
March 2023 Corporate Presentation
https://investors.karyopharm.com/download/KPTI+Q4+and+FY+2022+results_2.15.2023_FINAL.pdf
Optimal timing and drug combination of selinexor in multiple myeloma: a systematic review and meta-analysis
Optimal timing and drug combination of selinexor in multiple myeloma: a systematic review and meta-analysis
https://www.tandfonline.com/doi/pdf/10.1080/16078454.2023.2187972
ABSTRACT Objectives: Multiple myeloma (MM) remains an incurable disease despite advances in treatment options. Recently, selinexor has shown promising efficacy for relapsed/refractory multiple myeloma (RRMM), whereas its optimal timing and drug combination remain unclear. In order to assess the various regimens that incorporate selinexor, a systematic review and meta-analysis was conducted. Methods: Clinical trials and real-world studies involving MM patients treated with selinexor were included. Pooled risk ratio (RR) was calculated to compare the rates, along with a 95% confidence interval (CI) and concurrent p-value assessment. A random-effects model was employed to provide a more conservative evaluation. Results: A total of 16 studies enrolling 817 patients were reviewed. The usage of selinexor as the fifth-line or prior therapy achieved a higher objective response rate (ORR) (65.9% versus 23.4%, p < 0.01) and longer pooled progression-free survival (PFS) (median: 12.5 months versus 2.9 months, p < 0.01) than those after the fifth-line usage. In addition, early usage also resulted in a consistent trend of pooled overall survival (median: 22.7 months versus 8.9 months, p = 0.26), compared with post-fifth-line usage. Selinexor and dexamethasone (Xd) plus either protease inhibitors (PIs) or immunomodulatory drugs (IMiDs) achieved better ORRs than the Xd-only regimen for RRMM, with ORRs of 56.1%, 52.5% and 24.6%, respectively (p < 0.01). Conclusion: In conclusion, using selinexor as the fifth-line or prior therapy had a beneficial impact on RRMM. The regimen of Xd plus PIs or IMiDs was recommended.
To Lisa DiPaolo CHRO EVP
To Lisa DiPaolo CHRO EVP
PS -- dear Lisa - the following post highlights the issue. You've done a great job as an HR EVP, but at the cost that the company can't afford - hard concept to get through the paradigm that thinks Karyopharm has access to endless funds. That mentality has caused the stock to drop 95% just in the last 3 years. It's also an art, a virtue, to run a happy, effective HR department, where you bring out full productivity in people, and be conscious of what the company can afford. Also, having picture of a employee with a dog on his lap, and the laptop, to boast about how great the environment is for employees, a) sends the wrong signal that this is really a paid vacation club; and b) lack of responsibility on management's part regarding their primary mandate of driving value for the people who pay your salaries (us shareholders) - since the company is losing over a $100m a year so all these expenses, your salaries, etc., are effectively paid by stockholders' equity.
To All Board Members
To All Board Members
I don't trust you Richard. You're not trustworthy in my opinion. You're making around 5000 dollars a day out of this gig and the Board is making an arm and a leg, and your allegiance to the status quo, which is and has been a disaster for the company, is selfish in my view. The status quo is great for you and the useless Board. Garen for example has been on the board for 10 years, and look at the result of his so called directorship. A janitor could have probably yielded the same results and cost a lot less. Same story with the rest of you, Barry Green and so on -- so it's a pity that you have put your reputations on the line to perform so poorly by being so incredibly ineffective, just for the same of money.
Your moto that you're here to beat cancer is a myth. Your goals is to enrich yourselves, in my view. At least in the shareholder meeting you didn't lie that your goal is to build shareholder value, which was the reason you were hired. But you did lie saying you like to engage with shareholders. I'd like your chief of IR and terrible CFO, Mike Mason say that !! He doesn't even bother to dress or behave appropriately at some investor calls.
If you cared, if you have the integrity you first would fire at a minimum 10% of workforce who are probably excess fat anyway, as productivity in the Fun Science Lab is not a big deal but daily catered lunches are, when the company is bleeding money, and making 6 figure donations which says a ton about how irresponsible the CEO and CFO are. They're not giving away their money.
The culture is sick
The culture is sick
https://careers-karyopharm.icims.com/jobs/2182/administrative-assistant-%e2%80%93-part-time/job
We hear working there is like picnic. So you could cut a 3rd of the staff and cut down on your free lunches, monthly parties (most companies have parties once a year) and other belt tightening measures to cure the cancerous culture funded by shareholders, you begin to gain respect as having financial discipline but Mike Mason can't do that - you need a new CFO -- new blood -- new outlook, new ideas, new mentality. Mason and Mano are too engraved in that cancerous corporate culture.
"Order, set up and clean daily catered lunches for all employees."
Short interest dropping with price dropping is further indication the terrible CFO/LC and weak CEO bailed out a lot of shorts with their horrible, poorly executed PP. A Derivative action may be the only way to get rid of this horrible team. I'm not selling because the science is great despite it being in hands of weak, terrible CEO, CFO, LC, and s useless Board.
The root cause is Kauffman's delusional incompetent management and dysfunctional attitude towards money. I won't forgive him for hiring Mason&Mano, which he did because they're even weaker than himself. And they built a dysfunctional culture of empire building, spending money like drunk sailors which Mason is really good at, catered daily free lunch for everybody paid by shareholders, 6 figure donations, splurge like there's no tomorrow, no sense of what significant cost cutting means, too incompetent. And Paulson is weak because he got sucked in and kept the pillars of that sick culture and ignored warnings.
I am convinced this team cannot pull it off. This is in my professional experience -- I'm older than you Richard, and have "wore more shirts" and obviously have experience you don't have and knowledge of what it takes to swim with Wall Street sharks, which your are clueless about. Everything I predicted came true. I was a fool to think you would act appropriately and build a team that can deliver results. I'm convinced as long as Mason and Mano are there you'll be stuck in this baffled realm of horrific performance sustained by excuse after excuse. I don't think a sense of urgency is in Mason's wiring. But the buck stops at the top. You're mistaken to think a D-team can deliver A-results, despite your couple of A-players.
I also read recently that your employees boast about being put in senior positions that elsewhere they'd not be qualified for (be too junior) -- more signs of deep-rooted mismanagement at the core of the Kauffman clueless culture. Feed low qualified people free lunch, catered, and they mess up like you've messed up so many things -- I don't know what you do for the over a million dollar package you're getting. You should really quit Richard if you can't even build a high performant team who can deliver results not excuses.
I don't even trust Mason in bringing cost cuts. He just doesn't have it in him in my view, to act highly intelligently, competently, and effectively - in terms of making the right strategic decisions that benefit company value. It's not part of his DNA, in my view. I'm sure he's a good accountant, a good bean counter, but it takes a lot more to be a great CFO which is what Karyopharm needs, given all the screwups of past (some are outlined by Dr. Due Diligence) and current management -- and -- the weakness of the CEO in these matters.
Richard is strong in some areas and valuable but he desperately needs a CFO and legal counsel who are on top of their games, with the associated track record which Mason and Mano don't have in dealing with this kind of a mess -- they're just been feeding it -- the same lame Kauffman culture has been continued, perpetuate by these guys and Richard just goes along with it which is preposterous -- even his endorsing it is bad -- because you don't seem to have any idea that competence matters and challenging times requires superior talent, not D-grade below-average mediocre, overpaid guys who are really motivated to get the daily catered free lunches going - that's a symbolic statement that points to the bigger problem.
One of the symptoms of the sick Kauffman culture is that company value is last in the list of priorities it seems and the key guys who have gotten into this hole are not competent enough to think along those lines in an effective manner. The proof is in the pudding.
All IMHO.
Oh no. Richard is on the call to say he is!
Oh no. Richard is on the call to say he is!
Oh no. Richard is on the call! Jumped in last minute with a few lines of his usual worthless blah blah that added zero value. And the Board is paying him about $5000 today for doing nothing that translates to value, as judged by his last 3.5 years of destruction of company, extremely wasteful spending and cost structure, and other disastrous mismanagement which has eroded investor confidence as himself and the Board have gotten richer and richer. Fire Paulson and the stock will take off. Just opinions based on the numbers that don't lie.
Short interest down by about 3 million shares.
Short interest down by about 3 million shares.
Still way too hight (18.3m shares).
https://www.tandfonline.com/doi/pdf/10.1080/16078454.2023.2187972
Our Superstar Rocked The House Today At Barclays
Our Superstar Rocked The House Today At Barclays
Thank you Reshma.
Keep up the great work.
Don't miss the replay of Barclays Global Healthcare Conference:
https://event.webcasts.com/viewer/event.jsp?ei=1603787&tp_key=b2caa015fe
Dr. Due Diligence's excellent notes: https://www.reddit.com/r/KPTI/comments/11san5t/dr_dds_quick_barclays_notes/
Hedge Fund Shill Attacks. Dr. Vig Puts Him In His Right Place
Hedge Fund Shill Attacks. Dr. Vig Puts Him In His Right Place
Given Karyopharm itself has no fighting bone with a Legal Counsel like Mike Mano (the company has said that online disparagement is not actionable -- that's how clueless the company is about this topic under direction of Mike Mano), attacks on the company's reputation is nothing new. Check out this article on Vinay Prasad, Aaron Goodman, Al-Ola A Abdallah, Manni Mohyuddin, Bijoy Telivala, etc. - some of whom have questionable affiliations and apparently even link to hedge funds:https://www.rezamusic.com/writings/law-ethics/Selinexor-bashers-and-link-to-hedge-funds
Yesterday, a party who appears to be a hedge fund shill wrote a garbage article spreading negativity, FUD (Fear Uncertainty Doubt), and the timing was not surprising, just as the stock and biotech sector had taken off, and Karyopharm outperformed all indices, and gained a nice 16% in about a day.
Our good friend, Dr. Vig called out the sucker with this note:
"If you go to xpovio.com and look at the prescribing information, go to section 2.5, table one through table 4, to look at "Dosage modifications for adverse reactions"... you will see that the physician has the option to go from twice weekly dosing to once weekly dosing of xpovio, and/or to decrease the milligrams given per dose, to help avoid side effects. A treating physician can monitor the patient and adjust the dose of xpovio if needed to minimize side effects. Karyopharm also is working to try to get additional indications approved for xpovio, including myelofibrosis and p53 wild type endometrial cancer. Karyopharm is also hoping for approval of eltanexor for myelodysplastic syndrome. Approval in any or all of these three areas could be a stimulus to the stock price."
Dr. Vig is absolutely right. Doctors have been successfully managing the side effects by lowering the dose that still works, and in other ways, and feedback from doctors have been very positive. The response from the author of the garbage article, Stephen Ayers, was mind blowing and confirmed again, in my view, that his trash piece was intentionally malicious, and apparently written for ulterior motives. The dork shamelessly replies to Dr. Vig with smart ass stupid cunning lines pointing to some statement in his garbage article as an excuse / disclaimer. Stephen Ayers is either a total idiot or compromised and gets a kickback from some short sellers to spread FUD, or both or none or I have no idea what his trip is but he showed himself in this article, in my view, to be a total idiot as a minimum!
I commented to the dork:
"@Stephen Ayers "Improvements in toxicity profile: If Karyopharm can successfully mitigate the toxic effects of selinexor, it could lead to improved patient outcomes, potentially driving increased adoption and usage."
Are you serious? It's not a matter of "IF". It's already done. Doctors are doing it every day if you have any idea about MM treatment landscape. Dr. Vig correctly points out that you were wrong, and you turn around and try to justify your false assumptions that are contradictory to doctor practices every day, by pointing him to the above statement?! Unbelievable!
And you say "The article specifically mentions everything he said.. "dose modifications""
Mentioning dose modifications when the entire (false) thesis of your article is based on non dose modification, is not a good excuse. I find your reasoning mind-boggling."
Karyopharm Announces Updated Selinexor Data in Patients with Treatment-Naïve Myelofibrosis to be Presented at AACR 2023
Karyopharm Announces Updated Selinexor Data in Patients with Treatment-Naïve Myelofibrosis to be Presented at AACR 2023
NEWTON, Mass., March 14, 2023 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that results from its Phase 1 study evaluating the safety and efficacy of once-weekly selinexor in combination with standard dose ruxolitinib in patients with treatment-naïve myelofibrosis (NCT04562389) have been selected for a poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2023, being held April 14-19, 2023 in Orlando, Florida.
Email to Karyopharm Management
Email to Karyopharm Management
Thanks for the note Elhan.
I hope you realize my frustration because y'all have wholly failed to fulfill your duty you were hired to do, i.e., to build shareholder value, and have screwed up so many things. Investors who trusted Mike Mano, Mike Mason and Mike K., have lost almost 90% of their investment because this gang can't shoot straight. Add Richard to the mix. The buck stops at the top.
Spending money like crazy because that's what Mike Mason knows how to do: raise and spend and have an unsustainable cost structure that's losing a TON of money every single day, and look at shareholders as adversaries. How many shareholders Mike Mason has EVERY written to in his lifetime? A handful ? Or hardly even that? A CFO who can't wait for an investor conference to be over because investors are just ATM machines to fund his salary and spend spend spend mentality and fund the fun science lab that is still sick with the sick culture of ex-clueless CEO Mike Kauffman (great doctor/scientist) who felt entitled to shareholders funding his fun science lab indefinitely with everyone benefiting except shareholders who are funding the circus.
Richard Paulson has been a major disaster because he neglected to fix the big mess that Mike Kauffman left behind and kept the same person who have now proven to be utterly incompetent in building shareholder value.
And you screwed up SIENDO because the gang that can't shoot straight is clueless about politics of power -- with that level of short interest FDA negative nod was a given for a management team who is a perfect punching bag for shorts -- they adore Mike Mason and Mike Mano -- dream team for them, add to the mix Richard who's been too weak in shaking up the rotten status quo. I warned him a long time ago that the stock would go to $2-$3 range if he didn't take certain action and let the gang that couldn't shoot straight continue.
Let's be clear, shooting strait means only one thing: BUILDING SHAREHOLDER VALUE. But y'all I think have a different idea in mind. Your primary purpose if your salary and bonus, and that terrible Board is not any better. Deepa cashed in a ton of shares ahead of bad news and Mano tried to justify it with a terribly weak argument. They just care for their salary and bonuses. Shareholders have been getting flipped time and again. Just look at the way Mike Mason behaves in investor conferences "is it over yet?". What kind of message does that send from the head of IR??? Investor Relations reporting into Mike Mason has to be the biggest joke of the century. They guy can't even manage his own body language on investor conferences , and his terrible track record speaks for itself: how's 85% drop in stock price for those who bought in the 20's not long ago?
And you've messed up the sales, despite Sohanya who is a superstar. The very entities Mike Mano thinks as irrelevant have hurt your sales. The private placement was a disaster, with bad excuses to justify narrow thinking and inability to think outside the bod, e.g. that short position is not disclosed so we didn't even ask.
You have a hotshot CCO and CMO but the rest of the senior management are a gang who can't shoot straight. And as a result of this D minus management the company will probably get taken over by some sleazy hedge fund for far below fair value because this gang can't shoot straight, unless there's a significant change of management or awakening. But people who have proven to be incompetent in building shareholder value, can't suddenly become competent. We need new blood. Mike Mano and Mike Mason should quit. Nothing personal against them. They're just not at the caliber Karyopharm needs, and if Richard is going to continue being a disaster in driving shareholder value he should follow them out the door.
The same people can't do the same things and expect a different result.
Mike Mano doesn't like to hear this because you're a team blah blah -- a team funded by shareholders; just look at your financials and look at how much money Mr. Mason / Mr. Paulson are burning every single day. Shareholders invest and hire management to build value and not just to raise money and burn money and sustain an incompetent team because it's the status quo. The organization has memory which continues, and its way is lousy, incompetent, dysfunctional.
Just look at the share price and remember those who trusted Kauffman, Mano, Mason and paid over $20/share. Even knowing this team has been a disaster, Mr. Paulson just joined the status quo because he didn't have the power to go against it and take the bull by the horn. He put up with a bean counter who apparently just knows how to raise and spend, as CFO and as a result the financial aspect of the company has been a disaster. Anytime you doubt me, look at the share price. Same story with Mike Kauffman's other hire. Mr. Mano. Nice man. Hedge fund shorts must love him.
All the above are my opinions. Again, nothing person against any of you. I send you all good wishes. But you have to call a spade a spade. Your gang has been a disaster for shareholders who gave you those jobs (those who have an MBA understand that). So get your act together Richard.
I am happy to talk about this any time. Maybe Richard believes me now because when I told him the stock will be taken to 2-3 range he didn't believe me. Experience counts.
Have a nice weekend.
More Dumpling of Shares due to Lack of Confidence
More dumping of KPTI shares because Wall Street knows if these incompetent losers of company value - CEO Richard Paulson / CFO Mike Mason, who have spending cancer and think they're running a charity, and are getting paid millions by the irresponsible Board which WILL be held to account - do a reverse split, it will be a disaster because they are so incompetent and with that Counsel Mike Mano on their side, they'll sure continue failing. There is a solution, and that's to dismiss these losers.
More Dumpling of Shares due to Lack of Confidence
More dumping of KPTI shares because Wall Street knows if these incompetent losers of company value - CEO Richard Paulson / CFO Mike Mason, who have spending cancer and think they're running a charity, and are getting paid millions by the irresponsible Board which WILL be held to account - do a reverse split, it will be a disaster because they are so incompetent and with that Counsel Mike Mano on their side, they'll sure continue failing. There is a solution, and that's to dismiss these losers.
Good For Karyopharm: Incyte's LIMBER lumbers to early end as analysis shows Jakafi cancer combo destined to fail
Good For Karyopharm: Incyte's LIMBER lumbers to early end as analysis shows Jakafi cancer combo destined to fail
By Nick Paul Taylor Mar 6, 2023
https://www.fiercebiotech.com/biotech/incytes-limber-lumbers-early-end-analysis-shows-jakafi-cancer-combo-destined-fail
The Board Should Fire Mike Mason, Mike Mano, Richard Paulson For Failure of Their Duty of Building Shareholder Value.
The Board Should Fire Mike Mason, Mike Mano, Richard Paulson For Failure of Their Duty of Building Shareholder Value.
Hey management, how about fulfilling the mission you were hired to do: build shareholder value. Mike Mason and Mike Mano were part of the lousy senior management team who got investors to give them over 20 bucks a share, only to see almost 90% of their investment go up in smokes because this gang who can't shoot straight just raises money and spends money, constantly runs a deficit, has a cost structure that's not sustainable by anything but a "F U to shareholders" mentality. I'm tired of this incompetent senior management team including Mike Mano, Mike Mason, and their incompetent boss Richard Paulson, all of whom have been proven to be incompetent in building shareholder value. I was hoping Richard would perform but he's been proven to be just as incompetent as Mike Mano and Mike Mason in building shareholder value. With this great science if we had a gang who could shoot straight the stock would be a lot higher but instead we're stuck with this gang who can't shoot straight.
They have Fucked Up! They fucked up SIENDO because they are clueless about politics of power. They fucked up the private placement and didn't even require that the participants are not existing big shorts! They fucked up the sales because Mike Mano apparently wrongly thinks online disparagement is not actionable -- while the hedge fund shorts who hire rogue doctors have managed to hurt the sales via the very online forums the clueless gang doesn't think it matters. They fucked up expense control and are still spending like crazy because we have a CFO who has proven to be incompetent in building shareholder value, and they feel they're entitled to endless investor funds to fund their fun science lab which splurges like crazy and spending money like it's an endless pit.
They Board is just as bad -- Deepa cashed out a ton of shares before negative news came out which is absolutely unacceptable but Mike Mano tried to justify it using a weak argument.
They have a few great things going, i.e. their sales lead, their chief medical officer, and their science. Otherwise, the CEO, CFO and Legal Counsel are disastrously incompetent in building shareholder value, which means the company will get taken over by some sleazy hedge fund for far below fair value because this gang can't shoot straight, unless there's a significant change of management or awakening. But people who have proven to be incompetent in building shareholder value, can't suddenly become competent. We need new blood.\
9 Questions For Karyopharm Management / Barclays Call
9 Questions For Karyopharm Management / Barclays Call
This list is a combination of a list made by Dr. Due Diligence and points that I added to it.
1. When are you meeting with FDA about MF Frontline Combination trial? Are you still planning on 1H2023 launch (less than 3 months)?
2. Does the November - 2nd line MF trial (Phase 2) have the potential to be registrational given the FDA FastTrack status?
3. MDS trial was slated for earlier interim readout, so the fact that it is taking longer is a good sign (event driven outcomes). Do you anticipate a SIENDO1 style readout (super responders vs not) or a traditional readout?
4. Have you talked to the FDA about submitting for tumor agnostic indication (Mount Sinai MM, SIENDO1 WTp53, previous gyn phase 1, etc)? Is this something the company will consider in the future?
5. Have you considered being more cost aware? Do you think a more disciplined organization would have a better share price right now? How about a better CFO who knows something about building shareholder value and can think outside the box, instead of just raising and spending money like a runaway train and a cost structure that's not sustainable based on the apparent false premise that the company's goal is to spend money to develop drugs and it's entitled to be permanently funded by shareholders? What about people who participated in CFO Mike Mason's arrangement and paid over $20 a share. Their shares are worth $3 today. Isn't it time for a new CFO given that disastrous performance?
6. How about a new legal counsel whom unlike Mike Mano can think outside the box, understand politics of power, and understand simple facts like online disparagement being legally actionable, so the company stops being a favorite punching bag for hedge funds engaged in "short and distort", with help from the doctors who have systemically managed to deter demand for your products and negatively impact your sales, for the benefit of their short-seller clients; and FDA's SIENDO decision was right along those lines, if you know anything about the well-documented fact that FDA is influenced by big money (think Provenge).
7. What do you think is an appropriate valuation for the company? If it's higher than today's value (which it should be), what is the disconnect other than weak financial and legal management?
8. SIENDO2 Enrollment is where? How many sites are active and enrolling?
9. Your former CEO told us the company had overtures from Pharma to buy the company and you told them "not yet". Barclays had Karyopharm at top of its list of acquisition prospects. Are you in any discussions with prospective buyers?
To Elhan Webb, Richard Paulson
To Elhan Webb, Richard Paulson
From an investor I personally know and respect:
KPTI clinical missteps have mingled together with management shenanigans to inspire a highly complex, dysfunctional love-hate sentiment for the management among value investors. Under this increasingly sour layer brews a growing recognition that XPO1 compounds have a valuable future in combination with other compounds, many of which are coming off patent, for treatment of many blood and solid cancer targets.
~~~
Elhan, so you know, a long time ago I wrote to Richard a registered letter. I told him the stock would go to 2-3 range and it did exactly that. After you wrestle with Wall Street sharks long enough you know their games, and you know the kind of management team they like to have for lunch and y'all the love
The only way our of this hole is to change the people who got you into this hole but a non-working status quo's priority is to give itself continuity, and keep burning thought shareholder value. Very bad karma.
Best Regards
Upcoming Game-changer Data
Upcoming Game-changer Data
"So the timing of the MDS in term analysis is very much dependent upon the overall survival data. And I say that partly because very high unmet need patient population in this very hard to relapsed refractory patient population. We know from the published literature that overall survival for these patients is less than a year at only 4 to 6 months. So being able to identify a robust overall survival signal allows us to identify the best path forward. So at this point, we're still following the OS data. It looks like it is going to occur in the first half of this year. But again, hard to project as we continue following these patient survival. We'll be opportunistic in terms of how we present those data, whether it's at a Medical Congress or through some kind of company forum. But the way I look at it, this is only a good thing for our patients."
Selinexor Saves Lives
Selinexor Saves Lives
"Seli has potential. My good friend relapsed after 2 CAR-T cell infusions. Her disease became EMD and non-secretory. Seli in combination with Bortezomob away her tumors within a month and kept her myeloma at bay for2 years.
https://twitter.com/MyelomaTeacher/status/1629602583487688710
20 Feb 2023 EMAIL TO MIKE MASON (AND MIKE MANO)
20 Feb 2023 EMAIL TO MIKE MASON (AND MIKE MANO)
Dear Mr. Mason
Since you're so disinterested in investor conferences -- and you clearly don't want to be there -- and are not paying attention -- and making disruptive jerking move -- and apparently playing with your phone or whatever it is you're doing on the side -- and didn't even bother wearing something appropriate (like a basic collared shirt, a business casual, or more appropriately a formal business outfit that a CFO should wear on such an occasion) -- and given your terrible performance (remember those investors who believed your lines and bought the stock in the 20's)?
If the CEO, CMO, CCO can pay attention during the call why can't you? You obviously have no idea and are entirely clueless to how disruptive your absolutely disastrous investor facing presence is, and its impact to the quality of the entire event which you obviously don't give a damn about, and you seem clueless about what active listening is, and how it effects the quality of what is presented -- by your very listening and attention instead of saying with your body language you don't give a damn -- just give me money when I need to raise money, and I don't give a damn which shark gets in, and which short is bailed out, etc. etc. -- that's how it appears Mike.
Trust me, this is not just my impression. Other investors have called your dismal presence too -- and even commented about your outfit.
After years of this repeat disaster, it's very clear what you're about, what your weaknesses are. I'm sure you have strengths too -- I'm sure you're a nice guy to know and you're an honest guy -- but as a CFO you're a disaster, in my view for the above and more reasons.
Go ahead and block me if you want - like you've blocked so many other investors whose criticisms you couldn't handle. Nothing personally against you -- I swear -- I feel affection for you -- but I sincerely believe you're in the wrong role. Spare us please and quit -- there must be a ton of job for good bean counters out there.
Reminders:
CFO is arguably the most important role in a company.
CFO's investor facing role is crucial.
CFO having top notch communication, presentation, sales skills is essential.
Company value is a function of supply and demand. Aside from issuing so many shares to shark hedge funds as you guys did unfortunately, high quality investors need to have confidence their money is in good hands.Trust in management is essential. Demand is a function of promotion and other p's -- ask Sohanya. The attitude that we just run a science gig and investors will line up is outdated and proven to be false.
The attitude that investors are our ATM machines -- fund the company and screw you, is dysfunctional, as we are witnessing by shareholder value.
You have been a total disaster in building shareholder value -- that's a fact. Add to it, your performance in my view has been terrible, in controlling expenses, in running a lean organization, in investor relations which reports to you (Elhan is good but she's bound by your limitation), in thinking outside the box, and least of the problem is the damage you do to the company's image by your dismal performances at investor conferences.
Please look for another job Mike. We will celebrate it and will wish you all the best in your future endeavors. But don't get a CFO job. Get a controller or accountant job. But I don't care - get any job. As long as you go. Please. And take Mike Mano's hand out the door with you, who's had just as a dismal track record, in my view, based on company performance, and the disaster deals you entered. Those shark hedge funds love you.
Richard it's almost getting too late -- these shark hedge funds you apparently surrendered to will eat your two Mikes alive, and take over the company before your eyes while your financial and legal team apparently couldn't shoot straight.
Mike Mano, I'm sure you don't like this message -- you're a team right and nobody should be criticized, meanwhile your team's performance has meant hundreds of millions of dollars of erosion in shareholder value. This email is about Mike, not you, but I copied you because you were mentioned. Your performance has been a disaster as well.
Just look at change in shareholder value, look at the terrible disparagement the company and our life saving drugs has gone through on your watch while the company was falsely and wrongly believing online disparagement is not actionable (I assume as their L.C. they got that advice from you and am not surprised a bit). How about covering up for Deepa's dumping so many shares before the stock tanked?
Your response was unacceptable. How about the latest disastrous private placement which diluted the hell out of the stock and put shares in hands of so many sharks and very likely most of the big shorts -- and you didn't even bother asking, apparently, if they were short the stock -- it's nowhere in the contract -- the excuse I heard is that SEC doesn't require short disclosure. Right. But you can think outside the box sometimes (maybe not). And you're not SEC. And if you know anything about contract law, anything is possible but it takes creative thinking which doesn't seem to be your cup of tea.
Likewise, nothing personally against you Mike Mano -- I feel affection for you and wish you the best, in your next job. Please. You are ready for a new challenge.
Best Regards
~~~
Picture below is Mike Mason at the latest investor conference -- he seemed: totally dull, inattentive, jerky, doing other things, uninterested, insensitive to what's happening, etc., and not wearing formal business outfit.
E3 ubiquitin ligase ASB8 promotes selinexor-induced proteasomal degradation of XPO1
E3 ubiquitin ligase ASB8 promotes selinexor-induced proteasomal degradation of XPO1
§ Identification of genes that modulate sensitivity to the XPO1 inhibitor selinexor.
§ TGFβ-SMAD4 signaling may be a predictive biomarker for selinexor treatment.
§ ASB8 is the host factor responsible for selinexor-induced degradation of XPO1.
https://www.sciencedirect.com/science/article/pii/S0753332223000938?via%3Dihub
BUYOUT BY AUGUST?
BUYOUT BY AUGUST?
Most biotechs I watch have call and put options way past end of the year. KPTI's latest are August 2022. As such it's the only company in the biotech list I watch. Options market makers are probably closest to hedge funds. I wrestled with some at some point when I led a team that helped FINRA stop some shenanigans (story in link below). It might be that they're expecting a buyout by August. Also remember potential acquirers in biotech have been on record for sometimes manipulating stocks of companies they want to buy and that's done through brokers' market makers. https://www.rezamusic.com/writings/law-ethics/reverse-conversions-scam
BARCLAY'S LIKES KPTI
BARCLAY'S LIKES KPTI
Not long ago Barclay's had KPTI on top of their acquisition target list with a buyout target price of $60. I just saw this under Yahoo news: Barclays PLC lifted its position in shares of Karyopharm Therapeutics Inc. (NASDAQ:KPTI - Get Rating) by 456.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 455,464 shares of the company's stock after buying an additional 373,539 shares during the quarter.
NEXPOVIO SECOND LINE+ IN FRANCE
NEXPOVIO SECOND LINE+ IN FRANCE
Drugs open for contribution (early access or access to reimbursement) or under review
Translated from French
"NEXPOVIO is indicated :
in combination with bortezomib and dexamethasone for the treatment of multiple myeloma in adult patients who have received at least one prior therapy.
in combination with dexamethasone for the treatment of multiple myeloma in adult patients who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, two immunomodulators, and an anti-CD38 monoclonal antibody, and in whom the disease has progressed on the last therapy."
Médicaments ouverts à contribution (accès précoce ou accès au remboursement) ou en cours d'instruction
NEXPOVIO est indiqué :
en association avec le bortézomib et la dexaméthasone pour le traitement du myélome multiple chez les patients adultes qui ont reçu au moins un traitement antérieur.
en association avec la dexaméthasone pour le traitement du myélome multiple chez les patients adultes qui ont reçu au moins quatre traitements antérieurs et dont la maladie est réfractaire à au moins deux inhibiteurs du protéasome, deux immunomodulateurs et un anticorps monoclonal anti-CD38, et chez qui la maladie a progressé lors du dernier traitement.
18 March 2023
https://www.has-sante.fr/jcms/p_3114053/fr/contribution-des-associations-de-patients-et-d-usagers-aux-evaluations-de-medicaments
MENARINI To Acquire KARYOPHARM?
MENARINI To Acquire KARYOPHARM?
"The CEO of Menarini is delighted to partner with $KPTI and through Stemline they are actively working towards commercialization milestones for MM. Next they’ll expand NEXPOVIO into the treatment of solid tumors, such as endometrial cancers. Given Menarini’s obligation of an additional $200+M in milestone payments + double digit royalties, and their existing $677M investment into XPO1 assets from Stemline it’s not unreasonable to think they could take out Karyopharm. They literally won an “M&A Award” in 2021 for the strategic move with Stemline, and they were just getting started. Also fwiw, here I called out the license deal between Menarini and Karyopharm months before it happened based entirely on public information."
And:
Menarini receives the coveted M&A Award 2021 for the 2020 acquisition of US company Stemline Therapeutics
https://www.menarini.com/en-us/news/news-detail/menarini-receives-the-coveted-ma-award-2021-for-the-2020-acquisition-of-us-company-stemline-therapeutics
Swiss Big Pharma
Swiss Big Pharma
When it came to cross-border transactions meanwhile, Swiss firms were more involved in buying others out than being bought out. KPMG expert Timo Knak said he expected the boom in M&A activity to continue in 2023, despite problems in global supply chains, the war in Ukraine, and interest rate hikes.
https://www.swissinfo.ch/eng/company-takeovers-and-mergers-on-the-rise-in-switzerland/48232086
~~~
Bullish Thesis Intact, But Not For Fainthearted
Bullish Thesis Intact, But Not For Fainthearted
Some Karyopharm retail investors are losing their minds. They couldn't stomach a 50% drop. Some pundit said if you can't stomach a 70% drop you shouldn't be in stocks. Stocks are manipulated in many ways by people who know investor psychology very well. That includes huge manipulated drops and huge rises (not that real ones don't happen) to influence investors to act in a way that profits the manipulators. Institutions are far less manipulated because they don't act on emotions as much as retail. I learned this the hard way. So KPTI being $3.32 doesn't bother me because my due diligence is solid and my vision for the future of the company is intact.
~~~
I agree. We don't know what their short position is and if they're short. I'm just assuming they are but as you know shorts are not disclosed, which is a gift SEC gives to short sellers and one of the key crooked parts of the US market as lobbied by hedge fund industry. I was involved in discussions with SEC on this as a member of public challenging them to stop this practice. Based on my experience, these large hedge funds have an ultimate vision for companies and know up front if they'll make money on short or long side or both. In this case I think they knew they'd make money on the short side given the bozo who ran the company before and his bozos who ran it down and are still there. But hedge funds also know the drug is fantastic and will eventually succeed. This latest 50% haircut and huge increase in short position tells me they took the gloves off and we're at the end chapters for the hedgies profiting on the short position. Next chapter will be running it up, IMO.
Patience is Virtue
Patience is Virtue
Change in short interest tells me the big drop was manipulated. Right now KPTI is a waiting game. If you have patience you'll get rewarded, in my opinion, because the manipulators are over extended. 20+mm shorted shares is not sustainable. One good data and this short volume can provide enough fuel to go to $15. So, I believe brokers are trying to buy as many shares as they can without significantly moving the price. But every time supply dries up they increase their bid. Turn clearly comfortable and buying around 7 million shares under $5 which I think is tough to do. It looks like they covered about 1 million yesterday. Some name of the game is waiting.
Piper Sandler Initiated Bullish Coverage
Piper Sandler Initiated Bullish Coverage
Overweight Rating, Price Target $8. I guess they're done churning the shares following the pathetic private placement they orchestrated, and loading up on shares for their high-fee paying clients, hedge funds, short sellers. So up we should go from here.
Interesting Dynamics
Interesting Dynamics
Interesting dynamics with KPTI. I had contact with a medical doctor who prescribes Selinexor and likes it, and owns the stock. And The stock is attracting new biotech investors who are saying the company is a biotech candidate, undervalued, and the advanced pipeline is very attractive.
KPTI Prediction
KPTI Prediction
KPTI will turn on a dime. I got my front row seat tickets at hand. Be it data, sales, partnership, rating, leaked buyout speculation, one big buyer to trigger short squeeze, or good news if they get a new CFO, etc. But current price is not in equilibrium and it will change. The company's worth a lot more, in my view.
P53 Wild Type is Very Prevalent
P53 Wild Type is Very Prevalent
Bashers were spreading FUD that P53 is only 25% of patients blah blah. Someone put them in their right place: "If you read the entire pub, the summary line says TP53 mutations are in about 25% of all endometrial cancer patients which would leave 75% with TP53 wild type. SIENDO enrollment was about 50% (77 of 160 treated, 33 of 80 placebo)."
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5287061/
Short Interest Up
Short Interest Up
The company didn't bother to demand that the participants in the private placement are not shorts. With a Legal Counsel like Mike Mano it's not surprising. The fact that SEC doesn't disclose short position doesn't mean the company couldn't have demanded and insisted on it from their partners.
Company Needs New CFO, Legal Counsel
Company Needs New CFO, Legal Counsel
Great data, hotshot CMO, CCO, weak CFO, LC. Get a couple of hotshots in the latter roles to take the bull by the horn and build shareholder value. CFO Mike Mason is a bean counter, and has had a terrible track record at the company of just raising and spending, and he's in charge of IR while he doesn't seem to have any talents in the direction of communications, sales, alliance management, relationship building, which are essential for a CFO and IR executive. Elhan is good but she reports to Mason who's calling the shots so IR is bound by the limited paradigm of Mason's mind. Mike Mano is also weak as Legal Counsel. That's CEO Paulson's fault for not building a top team despite the spending. It's ultimately Directors' fault as they're failing their duties by not bringing necessary change. Same people doing same things: same results.
Coming up...
Coming up...
§ XPO is name of game in P53 wild-type subgroup treatment. 50% of patients are P53 and there's no current threapy for them.
§ 21 months PFS. Still patients on therapy that have no progression event!!
§ Eltanexor data this quarter. It's fast-tracked by FDA. Could even be registratioal (approval on P2 data). No other treatment option for relapsed/refractory MDS.
10 Jan 2023 - New Analyst Price Target for KPTI: $16
10 Jan 2023 - New Analyst Price Target for KPTI: $16
HC Wainwright new PT: $16.00.
Anticipated Near-Term Catalysts and Operational Objectives in 2023
Anticipated Near-Term Catalysts and Operational Objectives in 2023
§ Continue to grow our commercial foundation in the competitive multiple myeloma marketplace, driving increased XPOVIO sales.
§ Additional global launches of selinexor by partners in ex-U.S. territories.
§ Present data supporting optimization of selinexor dose in multiple myeloma and other key programs.
§ Continue to generate data demonstrating selinexor's efficacy, combinability and tolerability in patients with multiple myeloma.
§ Report interim data from the Phase 2 study evaluating eltanexor in relapsed/refractory MDS in 1Q.
§ Report updated results from the Phase 1 study of selinexor in combination with ruxolitinib in patients with treatment-naïve MF in 1H. Initiate pivotal Phase 3 study in front-line myelofibrosis in 1H 2023, subject to regulatory feedback.
§ Present updated subgroup analysis results in patients with TP53 wild-type endometrial cancer from the SIENDO study at a medical conference in 2023 further supporting rationale for EC-042 pivotal Phase 3 study.
§ Further exploration of biomarker subsets to identify patient populations who best respond to SINE compounds.
Foundation Medicine Announces Collaboration with Karyopharm Therapeutics to Develop FoundationOne®CDx as a Companion Diagnostic for XPOVIO® (selinexor)
Foundation Medicine Announces Collaboration with Karyopharm Therapeutics to Develop FoundationOne®CDx as a Companion Diagnostic for XPOVIO® (selinexor)
https://finance.yahoo.com/news/foundation-medicine-announces-collaboration-karyopharm-120500573.html?fr=sycsrp_catchall
CAMBRIDGE, Mass., January 10, 2023--(BUSINESS WIRE)--Today Foundation Medicine, Inc., a pioneer in molecular profiling for cancer, announced a global collaboration with Karyopharm Therapeutics Inc. to develop FoundationOne®CDx as a companion diagnostic for selinexor, which is being evaluated as a front-line maintenance therapy following systemic therapy in patients with advanced or recurrent TP53 wild-type endometrial cancer.
Endometrial cancer is the most common cancer of the female reproductive organs in the U.S.1 Roughly 50% of patients with advanced or recurrent disease have p53 wild-type tumors.2 Karyopharm’s phase 3 study (EC-042; NCT03555422) is a multicenter, blinded, placebo-controlled, randomized study evaluating the efficacy and safety of selinexor as a maintenance therapy following systemic therapy in patients with advanced or recurrent TP53 wild-type endometrial cancer. The study is utilizing Foundation Medicine's tissue-based next generation sequencing test to identify and enroll patients whose tumors are TP53 wild-type.
"We’re looking forward to partnering with Karyopharm as they work to advance this exciting new treatment option for patients living with advanced endometrial cancer," said Sanket Agrawal, Chief Biopharma Business Officer, Foundation Medicine. "Our deep understanding of cancer biology and global regulatory expertise, combined with their innovative approach to developing cancer therapies puts us in a strong position to help more patients living with this devastating condition."
New Article: Founder's Syndrome
New Article: Founder's Syndrome
https://www.rezamusic.com/writings/law-ethics/Founders-Syndrome-Activist-Investors-Ousting-CEOs
Good reading about P53 and why Karyopharm is on to something really big.
Good reading about P53 and why Karyopharm is on to something really big.
https://www.nature.com/articles/s41573-022-00571-8
Short Thesis is Flawed
Short Thesis is Flawed
Short argument is phase 3 costs money so any company that can't get FDA to approve its drug based on phase 1 or phase 2 data is a failure !! That's how lousy KPTI short rationale is.
New Presentation Deck
New Presentation Deck
https://investors.karyopharm.com/download/KPTI+JPM+HC+Conference+2023.pdf
Amazing updated E.C. data: Median PFS Selinexor (n=77): 20.8 months - Placebo (n=36): 5.2 months
Karyopharm Announces Preliminary Unaudited Fourth Quarter and Full Year 2022 Revenue and Outlines 2023 Objectives
Karyopharm Announces Preliminary Unaudited Fourth Quarter and Full Year 2022 Revenue and Outlines 2023 Objectives
– Preliminary Unaudited Full Year 2022 Total Revenue and U.S. XPOVIO® (selinexor) Net Product Revenue Expected to be Approximately $157.7 Million and $120.4 Million, Respectively, Meeting Company's Guidance –
– Initiated Pivotal Phase 3 Study Evaluating Selinexor as a Maintenance Therapy in Women with Advanced or Recurrent TP53 Wild-Type Endometrial Cancer; Encouraging Updated Exploratory Subgroup Analysis in Patients with TP53 Wild-Type Endometrial Cancer Continues to Support Study Rationale; Partnership with Foundation Medicine to Develop TP53 Companion Diagnostic –
– Planning to Initiate Pivotal Phase 3 Study in Front-Line Myelofibrosis in 1H 2023; Report Updated Results from the Phase 1 study of Selinexor in Combination with Ruxolitinib in Patients with Treatment-Naïve MF in 1H 2023 –
– Anticipate Multiple Data Catalysts and Progress Across Multiple Myeloma, Myelofibrosis, Endometrial Cancer and Myelodysplastic Neoplasms in 2023 –
– Extended Cash Runway to Late 2025 –
My Response to Dr. Due Diligence About KPTI Management
My Response to Dr. Due Diligence About KPTI Management
Good writeup doc. Appreciate your thoughts. I agree with most, esp. the need to cut costs. But Richard's biggest mistake was not to replace the CFO and Legal Counsel given their past failures at the company and weak profiles.
CFO Mike Mason prides himself of knowing how to raise money. Look at the stock price since the raise they did in the 20s. IT also reports to him which is a pity. Relationships doesn't appear to be one of his strengths, let alone sales skills which is a must for a CFO who's in charge of IR too. CFO just doesn't seem capable of bringing costs down -- probably a competence issue and attitude issue and disregard to shareholders and thinking of shareholders as job security for himself.
The Legal Counsel Mike Meno is way off. I've been on zoom call with him, and I was not impressed at all. He clearly has competences but is not at a level that KPTI needs given. Oh and the company thinks online disparagement is not actionable (wrong).
Funny that both Mikes were hired by the disaster CEO Mike Kauffman (a great scientist/doctor but has always been a failure as a CEO). And low-grade CEOS are known to bring in people who are below them in terms of caliber. Great CEOs bring in star players. That's Steve Jobs' insight. One of the many horrible things about Kauffman which ran KPTI into the ground was the sick attitude that the company is entitled to shareholder funding their "fun science lab". Running a huge deficit and still givings away lots of money to this and that and spending like crazy -- they just don't seem to have a good grasp of the big picture that management is hired to build shareholder value. They work for shareholders but they think shareholders are ATM machines for them.
Richard Paulson is now criticized because he's been a total failure as a CEO as measured by shareholder value which is the ultimate measure for a CEO's performance.
I bet some of the hedge fund shorts participated in the one on ones and signed non disclosures and met the management and found out this management team is not one to be afraid of - it can't bark and it can't bite. It's a perfect punching bags.
I'm still holding my shares because of the science, but am very disappointed at Richard Paulson for not having top caliber people that KPTI needs at this juncture, despite millions they're spending. Mediocre and below-average caliber produces below-average results. Competence matters. Management matters.
The company value is being at cash value is absolutely ridiculous. I think we should see a double in the share price fairly soon. I believe in market equilibrium.
~~~
I don't think they are explicitly in bed with shorts but Mike Mason weakness as a CFO could transfer to an implicit helping of the shorts by unwise moves. Regarding the second possibility you mentioned I think that's more like it i.e. lack of sufficient competence on the part of the CFO and legal counsel and therefore CEO. I think Richard is very competent but he inherited a big mess from a very incompetent CEO who was a very good scientist and doctor but a disaster of a CEO. Him and his recruits ran the company down because of their incompetence. They just knew how to raise and spend money. And Richard's biggest mistake was to go along with that status quo.
The science should save the day but it should never come to that. These guys should be garnering and much higher valuation but they failed at that because of competence issues, in my opinion. Despite all of that I think the stock is very undervalued. But I really wish to see a serious change in the management. Investors should come together to put the company on notice and file a derivative lawsuit if the board doesn't react. If any of you are interested in helping out you can contact me on the contact page of https://www.rezamusic.com/various/kpti
Dr. Due Diligence Good Writeup
Dr. Due Diligence Good Writeup
https://www.reddit.com/r/KPTI/comments/1069m3q/doctor_dds_thoughts_on_kpti_post_raise/
Scripts
Scripts
An investor with handle: "ProfOB" said his company gets script data
§ "$KPTI just load up guys… xpovio sales are up… users are up… this will be double digit before the first quarter… "
§ "We have an open claim files as a company and gets update every week. Multiple Myeloma market grown to the advantage of KPTI with couple of products pulled out of market. Seeing these number we took a big long position but since then we see huge drop and kept buying more. I think this will be double digit by catching higher end of projected sales. Good luck… 2023 could be the year of leaving these single digits! Bullish."
§ "I work with open insurance claims files. And the data is updated everyweek."
Short Interest
Short Interest
Short interest increased by 2.8 million shares. So now we know after the private placement shorts kicked the daylight out of the stock. Year end window dressing to maximize their fees?
I don't believe it's so simple that after the private placement 2.8m shares were shorted randomly. 2.8m shares is a lot. Was it that the participants of the private placement are totally independent of the shorts and short hedgy funds just decided they really want a year end low price to boost their fees? If that's the case we should see a sharp move back to the pre-drop levels.
Did shorts also participate in discussions and thought the future is bleak so they decided to up the ante? I don't think anyone in their right mind would think that -- KPTI's future looks bright.
Were some of the participants who went long shorted? Go long at 5.19 and go short at 4.19? Not that simple.
Did shorts get bailed out, pocketed a huge profit, then decided to dump 2.8m shares (see above).
We just don't know... yet. Your views are welcome. Contact me here.
28 Dec 2022 - Talk with Company
28 Dec 2022 - Talk with Company
I spoke with the company yesterday. Notes to follow.
Opportunity
Opportunity
"Have been watching EPZM for a few years as they are considered a peer of KPTI. Ultimately seems unlikely that KPTI could sell out at such low levels though, because of approved combo treatments paired with blockbuster compounds from big pharma. Also, KPTI holds the lead compound for Antengene and an important one for Menarini (~ $1B invested between Stemline acquisition and KPTI commitments). So I’d expect $BMY (Antengene investor via Celgene) or Menarini to make bids. Or $PFE could pick up KPTI novel small molecule oncology assets for cheap, even at $2B… which seems far fetched now, but is it?"
"So my takeaway - maybe $KPTI is delaying the interim analysis of its MDS trial to allow the secondary endpoint of overall survival (OS) to mature (more robust data for analysis) before the readout. The company may also be planning to discuss the data with the FDA to explore the possibility of an accelerated approval."
MDS
MDS
"After already getting orphan medicinal and Fast Track designation related to MDS indications in '22, the progress and possibilities look good so far. If the Q1 2023 interim analysis of the MDS clinical trial shows positive results for the overall survival (OS) endpoint, it is possible that $KPTI and the independent data monitoring committee (DMC) may decide to continue the trial as planned or even consider submitting the data for regulatory review. If the data are considered strong enough, $KPTI may consider seeking accelerated approval."
"In order to qualify for accelerated approval, the drug must demonstrate a "reasonably likely" clinical benefit based on the available data. If granted accelerated approval, $KPTI must conduct additional clinical trials to confirm the clinical benefit of the drug and to gather additional safety data.
Does this sound reasonable, especially considering there are currently no approved therapies for HMA- refractory MDS?"
"I recommend to keep a close eye on KPTI and to consider adding it to your portfolio. As always, it is important to do your own research and assess the risk before making any investment decisions."
More Countries Coming Aboard
More Countries Coming Aboard
Antengene Announces NDA Submission for XPOVIO® in Macau, Malaysia and Thailand for Relapsed/Refractory Multiple Myeloma and Relapsed/Refractory Diffuse Large B-cell Lymphoma
https://finance.yahoo.com/news/antengene-announces-nda-submission-xpovio-003000484.html
28 Dec 2022 - Selinexor Heals The Nastiest, Incurable Cancer
28 Dec 2022 - Selinexor Heals The Nastiest, Incurable Cancer
Per this report: "My cousin has had multiple myeloma 11:14 for 7 years now. She failed everything. She enrolled in the REGN BCMA bispecific trial and was the top responder in the trial and still failed a few months later. Since June 2021 she's been on selinexor.
She hasn't taken a drug in a month and just had blood work done and she's in complete remission. The side effects are horrific. Like the worst side effects imaginable ever for anything. The docs refused to give it to her because of them but I pushed it through. And now she's gone to her daughters wedding, her grandson is four, she's in complete remission. All because of Selinexor. KPTI should get acquired or the stock should be $50 right now. It's just DUMB. She's literally the hardest type of MM to treat, she was bleeding out of her eyes; the dex gave her cataracts too. She's in CR. It's incredible." [CR = Complete Response = The disappearance of all signs of cancer in response to treatment.]
https://mobile.twitter.com/wexcapital/status/1608135911761481729
MESSAGE TO SHARON SHACHAM
MESSAGE TO SHARON SHACHAM
Dear Sharon
Hope all is well.
I don't know if you saw the message on Selinexor curing someone. I posted it on
https://www.rezamusic.com/various/kpti
~~~
Also, FYI, I got an anti-Semite guy's history eliminated:
In honor of my Jewish friends, including the discoverer of Selinexor, Dr. Sharon Shacham, and for the sake of decency, I got the entire posting history of "Freddie Leone" (ID: JustBeers) removed, for having posted several anti-Semitic messages on this platform, Stocktwits.
If he continues with his hostile, prejudiced insults towards people of any religion, race, nationality, gender, ethnicity, Stocktwits will remove his account permanently. I encourage participants here to flag messages as inappropriate so Stocktwits admins are alerted immediately. When a posting gets flagged twice or more, ST intervenes manually.
~~~
KPTI is in the toilette -- I blame it squarely on the inept handling of the private placement by Mike Mason and MIke Mano, in my opinion. I predicted this will happen and wrote to Richard about it -- I said 2-3 dollar range. And I explained to him bombshells that Wall Street sharks can drop when you least expect it, will catch you dumbfounded, which is exactly the state of the company now, because Mike & Mike are dream come true for shorts.
~~~
Wishing you a great 2023
Selinexor in combination with weekly paclitaxel in patients with metastatic solid tumors
Selinexor in combination with weekly paclitaxel in patients with metastatic solid tumors
Results of an open label, single-center, multi-arm phase 1b study with expansion phase in ovarian cancer
https://www.sciencedirect.com/science/article/abs/pii/S0090825822019187
Highlights
§ The combination of the selective inhibitor of nuclear export (SINE), selinexor, and weekly paclitaxel is tolerable.
§ Selinexor and weekly paclitaxel yielded clinical benefit in heavily pre-treated platinum-resistant ovarian cancer.
27 Dec 2022
27 Dec 2022
KTPI is trading under book value which happens for companies that are totally hopeless. Is Karyopharm hopeless? Approved in over 40 countries. Making over 150 million dollars a year in revenue. Rich pipeline. Not hopeless at all. I have a lot of hope for the company. So what gives? Year end cooking of the books for the short hedge funds who will earn bigger fees the lower the price is? Year-end tax loss selling? Churning the float to get the last of retail to throw in the towel by psychological torture and triggering margin calls and stop loss order? Order of potential acquirer of the company to brokers to kill the price by abusing their naked shorting ability? Force sale by tutes who had sale All of the above? None of the above? Any other ideas?
OVERSOLD
OVERSOLD
If a biotech stock is experiencing a steep decline due to broader market conditions and technical sell indicators flashing red (as with KPTI), but the value-based factors such as the company's financial performance and product pipeline are healthy, it could potentially indicate that the stock is temporarily oversold (RSI @ 24 also indicates this). This could present an opportunity for value-based investors to buy the stock at a discounted price, with the expectation that the price will eventually return to a level that reflects the company's underlying value.
XPOVIO FOOTPRINT
XPOVIO FOOTPRINT
Xpovio's footprint now reaches 40 countries, growing revenue (~$160 million in 2022), experienced management, and partnership possibilities should accelerate with more efficacy and additional targets as this medicine in various combo treatments gets personalized with help from biomarkers (also biosimulation), enabling multiple product approvals over the next two to four years. The level of unrelenting short interest is a problem though. Until it's not.
https://www.medrxiv.org/content/10.1101/2022.12.15.22283531v1
Protein biomarkers for response to XPO1 inhibition in hematologic malignancies https://www.medrxiv.org/content/10.1101/2022.12.15.22283531v1
KPTI country approval info, revenue, and forecast of additional approvals in the next 2-3 years from Q3 2022 conference call transcript https://www.fool.com/earnings/call-transcripts/2022/11/04/karyopharm-therapeutics-kpti-q3-2022-earnings-call/
Selinexor/Ruxolitinib Combo Reduces Spleen Volume in Myelofibrosis
Selinexor/Ruxolitinib Combo Reduces Spleen Volume in Myelofibrosis
https://www.onclive.com/view/novel-selinexor-ruxolitinib-combo-reduces-spleen-volume-in-myelofibrosis
INCY & KPTI
INCY & KPTI
Incyte seems to be actively promoting Xpovio (selinexor) and other compounds in clinical trials that work in combination with their Jakafi (ruxolitinib) treatment. This is presented and marketed in a compliant way. 🧐 Good for them.
Dr. Rampal on the Importance of Clinical Trial Enrollment in Myelofibrosis Raajit K. Rampal, MD, PhD, hematologic oncologist, associate attending physician, Memorial Sloan Kettering Cancer Center, discusses the importance of clinical trial enrollment in patients with myelofibrosis.
https://www.onclive.com/view/dr-rampal-on-the-importance-of-clinical-trial-enrollment-in-myelofibrosis
PROGNOSIS
PROGNOSIS
My hunch based on everything I know and have seen and believe, is that the shorts are repositioning themselves, after the gift our moronic CFO and Legal Counsel and CEO who listened to them, gave the shorts, and are going to continue this through the 31st to cook their books to show huge profit for their funds so they can charge huge fees and get huge bonuses, and by JPM conference their books have gone from short to long and they'll drive this up. I'm pissed at management for being so naive as to put the gun in the hands of shorts like this, but I couldn't expect anything better than Mike Kauffman's lousy recruitment.
I don't see any reason to sell so am holding and believe a month from now the share price may be a lot higher. I was stupid to hold after Paulson decided to keep Mano & Mason, but I'm not stupid to sell when there's no bad news; nothing in the thesis has changed since the stock was 16, and the story has just gotten better. The above is just my opinion.
INVESTOR NOTE
INVESTOR NOTE
Note a thoughtful long-term KPTI investor sent me: "I have little visibility into what is happening with KPTI related to the recent private placement. I’d expect this involved more than just a capital raise, and offers strategic value related to one or more of the new investor partners. I’ll be glad if that value is related to dealing with shorts, positioning KPTI better as an acquisition target, or bringing suitors.
Meanwhile I think Menarini is a potential suitor and I just hope they don’t get too good of a deal.
Lots of other scenarios could happen, of course. On the bright side, not much downside from here."
NEW DATA: BETTER THAN EXPECTED
NEW DATA: BETTER THAN EXPECTED
SVR35: 92% (92% chance of response, Seli taken in combo with Rux.
Expectation was a much lower number, so Karyopharm beat expectations.
A Study of a Fully Human BCMA-targeting CAR (CT103A) Combined With Selinexor in Patients With Relapsed/Refractory Extramedullary Multiple Myeloma
A Study of a Fully Human BCMA-targeting CAR (CT103A) Combined With Selinexor in Patients With Relapsed/Refractory Extramedullary Multiple Myeloma
https://www.clinicaltrials.gov/ct2/show/NCT05201118
STOCK ACTION
STOCK ACTION
Data was released yesterday which was better than expected. Stock tanked for unknown reason. In my view, only thing that has changed is the capital raise they did last week for $5.xx and warrants at $6.xx which is the best we could expect from a CFO which I am not fond of. Both CFO and Legal Counsel were hired by Mike Kauffman, that previous CEO who was a great scientist / doctor but a terrible CEO (typical) and he hired these two Mikes who are both below average in my view. The new CEO decided to keep them which is mind boggling -- I think it was due to his confidence in the science that it will prevail and I still believe it will. So I'm holding on to my shares till buyout.
It's difficult to read the minds of the hedge funds. Often they switch from short to long. My middle of February when institutional report is out, and some short reports are out, we will have a better idea of what's going on behind the scenes but I remain long and strong. If I hadn't seen such turmoil in biotech before I would be surprised, but it's business as usual especially for a stock with huge potential.
Just my opinions and not an investment advice.
"In an aging population (such as ours) the incidence of myelofibrosis will keep up with treatment options and then some. JAK inhibitors are great (with black-box caveats) until better drugs take their place."
Karyopharm Announces Presentation of Updated Phase 1 Selinexor Data in Patients with Treatment-Naïve Myelofibrosis at ASH 2022
Karyopharm Announces Presentation of Updated Phase 1 Selinexor Data in Patients with Treatment-Naïve Myelofibrosis at ASH 2022
Key Opinion Leader: very compelling drug: higher efficacy than other agents, and good tolerability.
Very good results
– A 92% SVR35 and a 67% TSS50 were Observed in the Efficacy Evaluable Patients at Week 24 –
– 57% of Transfusion Independent Patients Achieved Hemoglobin Stabilization –
"In the Phase 1 portion of the study, encouraging efficacy was observed across the relevant efficacy endpoints of SVR35, TSS50, and hemoglobin stabilization and a generally manageable safety profile was observed regardless of dose. Furthermore, I find the rapid spleen reduction as early as week 12 especially notable, along with early signs of durability," said Dr. Haris Ali, City of Hope Comprehensive Cancer Center. "These data support the potential of an oral XPO1 inhibitor, in combination with a JAK inhibitor, to deliver significant benefits for patients with myelofibrosis."
https://investors.karyopharm.com/2022-12-12-Karyopharm-Announces-Presentation-of-Updated-Phase-1-Selinexor-Data-in-Patients-with-Treatment-Naive-Myelofibrosis-at-ASH-2022
FDA looks to pull approval for Oncopeptides' troubled multiple myeloma drug Pepaxto
FDA looks to pull approval for Oncopeptides' troubled multiple myeloma drug Pepaxto
Another positive for Karyopharm, in hands of financial management who can't shoot straight.
https://www.fiercepharma.com/pharma/fda-seeks-withdrawal-marketing-authorization-oncopeptides-pepaxto
Karyopharm Announces Investor and Analyst Event at ASH 2022 on Selinexor Data in Patients with Treatment-Naïve Myelofibrosis
Karyopharm Announces Investor and Analyst Event at ASH 2022 on Selinexor Data in Patients with Treatment-Naïve Myelofibrosis
– Key Opinion Leaders to Review Highlights from Updated Phase 1 Data to be Presented at ASH 2022 at Company Sponsored Event on Monday, December 12 at 8:30 AM ET
Great Talk By Karyopharm's Brilliant CMO Reshma Rangwala
Great Talk By Karyopharm's Brilliant CMO Reshma Rangwala
https://www.youtube.com/watch?v=Qy_akVLNhh8
Galien Week of Innovation 2022 / Pharma: Hematologic Cancers & Gene-based “Tumor Agnostic” Therapies
Bad Companies Aren't Bashed On Stock Message Boards
Bad Companies Aren't Bashed On Stock Message Boards
Those who don't own the stock or are short cheer down days and make stupid claims like "shorts own this stock". They don't. Large majority of shares are owned by institutions and if you assume the entire short interest is the same institutions which is a stupid assumption, shorts still don't own the stock. Notice on days when KPTI beats the index hands down, these bashers go quiet.
The stock was 4.08 in August and now it's 4.98 and yesterday it was 5.30. Shorts wish they owned this stock but with all the upcoming catalysts and the pent-up demand, the doom and gloom antagonists are wasting their time if they think they can influence people to sell. Of course they could be nobodies looking for attention, which is a very common behavior on message boards about a topic people have interest on, and some bozo comes and attacks their interest with stupid nonsense, to get attention. Life goes on. Good luck to KPTI longs.
---
An investor wrote: "These are all great points! I am also surprised more folks are not bullish about the fact Belantamab was pulled by the FDA last week. Yes, Teclistamab was added recently but still given the withdrawl of Blenrep its another opportunity. Add in Myelofibrosis and down the line someday Endometrial; this stock will eventually have its day in the sun. Why sell at $4 or $5?"
Upward Trend
Upward Trend
Most of the shares are in institutional hands who are not trading it. The few shares left are in our hands. So most of the volume is day trading and games market makers and hedge funds play. The bulk of the volume will come when buyers and shorts pull the trigger to buy/cover shares.
The trend seems to be for that to happen they have to bid up the price to get sellers to agree to sell. Institutions know the potential of the company and doubt would sell any time soon. So we should see bidding up the price as prospects continue to improve. Given the stock is undervalued, such move could come even without material news.
Piper Sandler Conference
Piper Sandler Conference
Piper is a heavy weight in biotech M&A - so talks could be happening.
https://investors.karyopharm.com/events-presentations?item=60
Deck: https://investors.karyopharm.com/download/Piper+HC+Conference+KPTI+Presentation_+Final_+November+29+2022.pdf
Excellent presentation. CEO's emphasis on seniority of the team is important -- they're doing some very scientifically intense heavy lifting and they have the right team to do ti.
MDS interim data not out yet which is a positive - the longer it takes the better.
Announcement in ASH (December 2022) about Myelofibrosis should be significant.
Lot of new data expected in 2023 including phase 2/3. As saying goes, most money is made on phase 2 data.
150 million revenue, drug approved in over 40 countries, rich pipeline.
Latest Presentation
Latest Presentation
https://investors.karyopharm.com/download/KPTI+Corp.+Pres+November+2022+11.15.22.pdf
Positive outlook for biotech 2023 Outlook
Positive outlook for biotech 2023 Outlook
Bio: It’s Time for Biotech Firms to Outshine S&P500 Healthcare Players www.businesskorea.co.kr/news/articleView.html?idxno=104629
2948 Selinexor in Combination with R-GDP for Patients with Relapsed/Refractory B-Cell Lymphoma: Final Results of 18 Patients Treated at RP2D of Selinexor in the Selinda Phase Ib Lysa Study
2948 Selinexor in Combination with R-GDP for Patients with Relapsed/Refractory B-Cell Lymphoma: Final Results of 18 Patients Treated at RP2D of Selinexor in the Selinda Phase Ib Lysa Study
Program: Oral and Poster Abstracts
Session: 626. Aggressive Lymphomas: Prospective Therapeutic Trials: Poster II
Hematology Disease Topics & Pathways:
Combination therapy, Therapies
Sunday, December 11, 2022, 6:00 PM-8:00 PM
https://ash.confex.com/ash/2022/webprogram/Paper157496.html
GSK Could Eye Karyopharm
GSK Could Eye Karyopharm
GSK plc (LSE/NYSE: GSK) has initiated the process for withdrawal of the US marketing authorisation for Blenrep (belantamab mafodotin-blmf) following the request of the US Food and Drug Administration (FDA).
Belantamab Mafodotin to Be Withdrawn From US Market for Relapsed/Refractory Myeloma
https://www.onclive.com/view/belantamab-mafodotin-to-be-withdrawn-from-us-market-for-relapsed-refractory-myeloma
Good Companies Are Bought Not Sold
Good Companies Are Bought Not Sold
To all the people who write "sell the company", remember, good companies are bought not sold. Mike Kauffman the last disaster CEO told me on a zoom call that they had overtures in the past but told the prospective buyer "not yet". And he said it's like sending your kid to university - and they want to send their kid to Ivy League. So that would be like Pfizer or Roche or something -- so we'll see.
Of course this idea of beiing bought not sold does not mean a company has to sit still and do nothing about promoting itself. Sharon Shacham the genius inventor of Selinexor told me on a Zoom call buyout discussions are like dating.
I told her, using another analogy, that the idea of standing there waiting to be asked to dance is outdated -- the company has to promote itself as well. The best example is ARIAD CEO Paris Panayiotopoulos who shrewdly got a great valuation for Ariad.
https://www.bizjournals.com/boston/news/2017/01/20/ariad-played-hardball-to-boost-takeda-buyout-price.html
3969 Novel Combination of Clinical Menin Inhibitor Ziftomenib and the Nuclear Export Inhibitor Selinexor Synergistically Inhibit MLL-r AML
3969 Novel Combination of Clinical Menin Inhibitor Ziftomenib and the Nuclear Export Inhibitor Selinexor Synergistically Inhibit MLL-r AML
§ Program: Oral and Poster Abstracts
§ Session: 604. Molecular Pharmacology and Drug Resistance: Myeloid Neoplasms: Poster III
§ Hematology Disease Topics & Pathways:
§ Research, Acute Myeloid Malignancies, Translational Research, Combination therapy, Diseases, Therapies, Myeloid Malignancies
§ Monday, December 12, 2022, 6:00 PM-8:00 PM
https://ash.confex.com/ash/2022/webprogram/Paper168151.html
Very Significant Buyout in KPTI Space; Barclays Issues Optimistic View on Karyopharm
Very Significant Buyout in KPTI Space; Barclays Issues Optimistic View on Karyopharm
Merck just acquired Imago Biosciences for $1.35 billion to boost Merck's hematology pipeline. Barclays issued positive view on Karyopharm, noting he transaction will have a positive read-through to biotechs focused on hematological malignancies such as Karyopharm (KPTI).
Lisa A. DiPaolo, Chief Human Resource Officer of Karyopharm Named as 10 Most Influential HR Exec
Lisa A. DiPaolo, Chief Human Resource Officer of Karyopharm Named as 10 Most Influential HR Exec
https://twitter.com/CIOviews/status/1591089727897489408/photo/1
https://cioviews.com/digital/2022/november/the-10-most-influential-hr-executives-of-the-year-2022-nov-08/
Valuation
Valuation
With KPTI current sales. Plus what they have going on in trials and pipeline. A 2 billion dollar market cap is very modest. That would be $25.00 per share
Upgrades, Nov 2022
Upgrades, Nov 2022
RBC Capital analyst Brian Abrahams upgrades Karyopharm Therapeutics from Sector Perform to Outperform and raises the price target from $7 to $10.
SVB Leerink analyst Jonathan Chang maintains Karyopharm Therapeutics with a Market Perform and raises the price target from $5 to $6.
~~~
RBC Capital Markets has upgraded Karyopharm Therapeutics to outperform from market perform saying the company's opportunities are discounted in the stock price. The firm also upped its price target to $10 from $7. Analyst Brian Abrahams highlighted cancer treatment Xpovio (selinexor), which he said could achieve $700M in annual sales based on its activity across multiple tumor types. He added that Xpovio could see growth with potential approval in myelofibrosis and endometrial cancer. He sees ~$300M in peak sales for the former indication, and the latter adding ~$140M in revenue.
Ex-CEO Michael Kauffman
Ex-CEO Michael Kauffman
Ex-disaster CEO Michael Kauffman (great doctor/scientist) used to sell regularly. He told me his financial consultants told him it's crazy to be so concentrated in one stock. The last 13G/A he filed was in Feb 2022. He hasn't sold since then. That's a good sign. He owns over 4 million shares. Also his wife, Sharon is a big holder.
KPTI back to $14
KPTI back to $14
Not long ago the stock went from $10 to $14 because the company cancelled a meeting. Sounds crazy, and it is, when the short interest is so high, and the stock is so manipulated to such ridiculous valuation. I expect we'll see that happen again; perhaps not a cancelled meeting but the real nightmare of shorts: buyout discussions.
KPTI, the world leader in SINE technology at JEFF Biotech Conference in London
KPTI, the world leader in SINE technology at JEFF Biotech Conference in London
The whole gang is in London. I hope they're also meeting with Roche and other prospective acquirers in UK and Switzerland.
https://wsw.com/webcast/jeff255/kpti/1866024
Our rock star, Sohanya, say 60 mg dose is used off label. Doctors are getting confident with the dose reduction which improves progression free survival.
KPTI bashing by prospective buyers, to get in for cheap!
KPTI bashing by prospective buyers, to get in for cheap!
I'm very pleased to see stupid bashing by KPTI prospective buyers (shorts who are getting margin calls to cover or otherwise see the writing on the wall and make the right decision to cover; or others who want to buy the shares). I sense a desperation in their bashing messages.
Usually bashers attack a company's science, market, prospects, etc. which requires solid arguments that can't get debunked. Since such arguments are impossible to make against Karyopharm, the bashers have resorted to stupid lies, like posting "CEO selling tons of shares". No he's not. That's a flat out lie. The CEO sold a few shares to pay options tax. That's very customary and happens in every company, and he is the beneficiary owner of hundreds of thousands of shares. Try again!
Institutional quarterly filings are coming in. Ally Bridge Group took on a new 1.5 million share position in KPTI worth $8.5 million!
Institutional quarterly filings are coming in. Ally Bridge Group took on a new 1.5 million share position in KPTI worth $8.5 million!
More should be filed by end of day tomorrow.
Selinexor in Maintenance Therapy After Systemic Therapy for Participants With p53 Wild-Type, Advanced or Recurrent Endometrial Carcinoma (XPORT-EC)
Selinexor in Maintenance Therapy After Systemic Therapy for Participants With p53 Wild-Type, Advanced or Recurrent Endometrial Carcinoma (XPORT-EC)
https://www.stockilluminati.com/kpti/display.php?url=https://clinicaltrials.gov/ct2/show/NCT05611931
Karyopharm holds company call after results of competitor drug failing (good news for Karyopharm)
Karyopharm holds company call after results of competitor drug failing (good news for Karyopharm)
§ GSK's CAR-T rival Blenrep fails multiple myeloma trial, endangering its accelerated approval. GSK’s dream just turned into a nightmare.
§ The company’s BCMA-targeted Blenrep has failed a phase 3 trial in relapsed or refractory multiple myeloma. The GSK antibody-drug conjugate didn’t outdo Bristol Myers Squibb’s Pomalyst and low-dose dexamethasone at slowing disease progression or death, the company said Monday.
§ The DREAMM-3 trial flop is a blow to GSK’s oncology ambitions; the British pharma has projected Blenrep could reach more than 3 billion pounds sterling in peak sales. And it puts Blenrep’s accelerated approval in multiple myeloma in danger.
https://www.fiercepharma.com/pharma/gsks-car-t-rival-blenrep-fails-multiple-myeloma-trial-endangering-fda-accelerated-approval
https://www.gsk.com/en-gb/media/press-releases/gsk-provides-update-on-dreamm-3-phase-iii-trial-for-blenrep/
Preliminary Results from Two Clinical Studies of Selinexor to be Presented at 2022 ASH Annual Meeting
Preliminary Results from Two Clinical Studies of Selinexor to be Presented at 2022 ASH Annual Meeting
“The data to be presented at ASH 2022 highlights the broad clinical potential and manageable side effect profile of selinexor in patients with well-defined T-cell lymphomas and R/R MM,” said Dr. Jay Mei, Antengene’s Founder, Chairman and CEO. “It is our great pleasure to share these updates with the hematology/oncology community at ASH 2022.”
https://www.antengene.com/newsinfo/283
GETTING CLOSER TO BUYOUT? Piper Sandler connection is a hint? Barclay had predicted buyout price of $60 / share for KPTI.
GETTING CLOSER TO BUYOUT? Piper Sandler connection is a hint? Barclay had predicted buyout price of $60 / share for KPTI.
I don't recall Karyopharm ever attending a Piper Sandler conference before. Mind you merger & aquisitions is a specialty of PS. At this stage in Karyopharm's history, getting aquired is a natural. Price tage? Barclay had a $60 aquisition price targer for KPTI and put KPTI on top of their buyout candidate list last year. Things have only gotten better.
NEW CONFERENCES. NOTE: PIPER SANDLER is a specialist in capital markets and M&A advisory services.
Live webcast: http://investors.karyopharm.com/events-presentations
Jefferies 2022 London Healthcare Conference
Piper Sandler 34th Annual Healthcare Conference
Buyout prospects
Buyout prospects
7 Nov 2022 -- Buyout prospects just increased with the last earnings report. Big Pharma could make a move any time. I have a lot of faith in Richard Paulson. But don't know his negotiation skills. If he plays his cards right he can get competitive bids and we're talking mega buyout price.
Excellent 2022 Q3 Progress
Excellent 2022 Q3 Progress
Great earnings report; great sales numbers; great scientific progress; Richard Paulson sounded stronger and more confident than ever. I'm confident my investment is in right hands. I sent them a congrats note. It's just a matter of time before the company is bought by a big pharma for a luscious premium.
KPTI had a good quarter - revenues increasing nicely - revenue guidance reiterated - and company has made a lot of important scientific progress. I continue to be very bullish on KPTI and believe the company will be bought by a big pharma early to mid 2023 at much higher value than today's stock price.
I'm planning to hold my shares till the company gets bought out. That's my exit strategy.
UPGRADES
§ Brokerage Firm: RBC Capital Mkts | Action: Upgrade | Ratings Change: Sector Perform » Outperform | Price Tgt: $7 » $10
§ $KPTI SVB Leerink analyst Jonathan Chang maintains Karyopharm Therapeutics with a Market Perform and raises the price target
Karyopharm Announces New Selinexor Data in Myelofibrosis and Multiple Myeloma to be Presented at ASH 2022
Karyopharm Announces New Selinexor Data in Myelofibrosis and Multiple Myeloma to be Presented at ASH 2022
– Encouraging Data Observed in Phase 1 Study of Selinexor in Combination with Ruxolitinib in Treatment-Naïve Myelofibrosis, Including Activity Across Three Key Efficacy Endpoints of Spleen Volume Reduction, Symptom Improvement, and Hemoglobin Stabilization, with a Generally Manageable Tolerability Profile and No Dose Limiting Toxicities–
– New Data on Triple Class Refractory Multiple Myeloma Patients Continue to Highlight the Efficacy and Tolerability of Selinexor in the Treatment of Multiple Myeloma –
https://www.prnewswire.com/news-releases/karyopharm-announces-new-selinexor-data-in-myelofibrosis-and-multiple-myeloma-to-be-presented-at-ash-2022-301667668.html
Selinexor demonstrates anti-tumor efficacy in paired patient-derived xenograft models and hydrogel-embedded histoculture drug sensitivity test of penile cancer
Selinexor demonstrates anti-tumor efficacy in paired patient-derived xenograft models and hydrogel-embedded histoculture drug sensitivity test of penile cancer
Conclusion:
The PDX model of penile cancer was a powerful tool for penile cancer research and new drug development. It showed that Selinexor can effectively inhibit penile cancer in vitro and in vivo. In addition, XPO1 may affect P53, P21, and Cyclin D1 expression to regulate the growth and apoptosis of penile carcinoma.
https://www.researchsquare.com/article/rs-2218336/v1
A novel anti-cancer therapy with nuclear export inhibitor Selinexor in combination with oncolytic myxoma virus
A novel anti-cancer therapy with nuclear export inhibitor Selinexor in combination with oncolytic myxoma virus
These results for the first time indicate that Selinexor in combination with oncolytic MYXV can be used as potential new anti-cancer therapy.
https://www.biorxiv.org/content/10.1101/2022.10.31.514585v1
A PHASE 1, OPEN-LABEL, DOSE-ESCALATION STUDY OF SELINEXOR PLUS RUXOLITINIB IN PATIENTS WITH TREATMENT-NAÏVE MYELOFIBROSIS
A PHASE 1, OPEN-LABEL, DOSE-ESCALATION STUDY OF SELINEXOR PLUS RUXOLITINIB IN PATIENTS WITH TREATMENT-NAÏVE MYELOFIBROSIS
Conclusion
In pts with treatment-naïve MF, QW SEL in combination with RUX is well tolerated with a manageable side effect profile. Based on current data there have been no observed dose limiting toxicities in cohort 1 of QW oral SEL 40 and 60 mg with RUX.
https://library.ehaweb.org/eha/2022/eha2022-congress/357865/haris.ali.a.phase.1.open-label.dose-escalation.study.of.selinexor.plus.html?f=listing%3D0%2Abrowseby%3D8%2Asortby%3D1%2Adate%3D2022-04-13+17%3A21%3A36%2C2022-05-13+17%3A21%3A40%2Asearch%3Dselinexor
Karyopharm and Menarini Group Announce Orphan Medicinal Product Designation from the European Commission for Selinexor for the Treatment of Myelofibrosis
Karyopharm and Menarini Group Announce Orphan Medicinal Product Designation from the European Commission for Selinexor for the Treatment of Myelofibrosis
https://investors.karyopharm.com/2022-10-31-Karyopharm-and-Menarini-Group-Announce-Orphan-Medicinal-Product-Designation-from-the-European-Commission-for-Selinexor-for-the-Treatment-of-Myelofibrosis
A Study to Evaluate Safety and Efficacy of Selinexor Versus Treatment of Physician's Choice in Participants With Previously Treated Myelofibrosis
A Study to Evaluate Safety and Efficacy of Selinexor Versus Treatment of Physician's Choice in Participants With Previously Treated Myelofibrosis
https://clinicaltrials.gov/ct2/show/NCT04562870?term=Selinexor&recrs=a&cond=myelofibrosis&draw=2&rank=1
Study of the Safety, Tolerability and Efficacy of KPT-8602 in Participants With Relapsed/Refractory Cancer Indications
Study of the Safety, Tolerability and Efficacy of KPT-8602 in Participants With Relapsed/Refractory Cancer Indications
https://clinicaltrials.gov/ct2/show/NCT02649790?term=Eltanexor&draw=2&rank=1
A Study to Evaluate Safety and Efficacy of Selinexor in Combination With Ruxolitinib in Participants With Myelofibrosis
A Study to Evaluate Safety and Efficacy of Selinexor in Combination With Ruxolitinib in Participants With Myelofibrosis
https://clinicaltrials.gov/ct2/show/NCT04562389?term=Selinexor&recrs=a&cond=myelofibrosis&draw=2&rank=2
Selinexor in Myelofibrosis Refractory or Intolerant to JAK1/2 Inhibitors (ESSENTIAL)
Selinexor in Myelofibrosis Refractory or Intolerant to JAK1/2 Inhibitors (ESSENTIAL)
This is a phase II, open label, prospective, single-arm study evaluating the efficacy and safety of selinexor in patients with PMF or secondary MF (PPV-MF or PET-MF) who are refractory or intolerant to ruxolitinib and/or any other experimental JAK1/2 inhibitors.
https://clinicaltrials.gov/ct2/show/NCT03627403?term=Selinexor&recrs=a&cond=myelofibrosis&draw=2&rank=3
Antengene Announces XPOVIO® Regulatory Approval in Taiwan
Antengene Announces XPOVIO® Regulatory Approval in Taiwan
Antengene Announces XPOVIO® Regulatory Approval in Taiwan for the Treatment of Relapsed and/or Refractory Multiple Myeloma and Diffuse Large B-Cell Lymphoma. TFDA has approved XPOVIO® (selinexor) for three indications.
https://www.antengene.com/newsinfo/274
Ripe Buyout Target
Ripe Buyout Target
Here's a stock I'm very excited about: KPTI. It has over 90% institutional interest. MS has been flip flopping on it and the short interest is very high, but shorts on the wrong side of science. It makes drugs for incurable diseases. The valuation is ridiculously low at the moment and manipulated by the short interest. It's a ripe buyout target. Barclays had a $60 buyout price target for KPTI. Since then there's only been positive developments. Biotechs have hiccups along the way, which are sometimes influences and orchestrated by short interest influence, but at the end of the day, Karyopharm will come out shining and will probably get bought out at a couple of billion dollars or more (current valuation: 390 million).
Selinexor: Rationale for Use in R/R MM Patients
Selinexor: Rationale for Use in R/R MM Patients
https://www.cancernetwork.com/view/selinexor-rationale-for-use-in-r-r-mm-patients
Endometrial Cancer Edition with Dr Mansoor Raza Mirza
Endometrial Cancer Edition with Dr Mansoor Raza Mirza
http://oncologytoday.researchtopractice.com/128
Conversations Around Selinexor: Best Nursing Practices in Multiple Myeloma
Conversations Around Selinexor: Best Nursing Practices in Multiple Myeloma
https://www.oncnursingnews.com/view/conversations-around-selinexor-best-nursing-practices-in-multiple-myeloma
Combination venetoclax and selinexor effective in relapsed refractory multiple myeloma with translocation t(11;14)
Combination venetoclax and selinexor effective in relapsed refractory multiple myeloma with translocation t(11;14)
These data suggest that the combination of venetoclax and selinexor is effective and t(11;14) may serve as a therapeutic marker for response and target for future clinical trials.
https://www.nature.com/articles/s41698-022-00315-2
Karyopharm has an amazingly competent CMO: Dr. Reshma Rangwala, MD, PhD.
Karyopharm has an amazingly competent CMO: Dr. Reshma Rangwala, MD, PhD.
https://www.karyopharm.com/person/reshma-rangwala-md-phd/
I just listened to her talk at Morgan Stanley Healthcare Conference and was very impressed. She's totally on top of things, and had this rock star level of excellence about her -- despite an analyst whose attitude was questionable (not surprising given the huge short interest which is on the wrong side of science). Karyopharm is going after several incurable diseases and short interest and a team of scums, Vinay Prasad, Aaron Goodman, Al-Ola A Abdallah, Manni Mohyuddin, Bijoy Telivala, some of whom have questionable affiliations and apparently even link to hedge funds, have tried to derail and badmouth our life saving drug. They're being proven wrong. Read more about it here: https://www.rezamusic.com/writings/law-ethics/Selinexor-bashers-and-link-to-hedge-funds
Site Update
Site Update
Management team page is finally sorted out (after several messages I sent them that it made no sense: it wasn't alphabetical, and it wasn't according to importance or position. It was just random which looked unprofessional. Now it's alphabetical. Also, management team is optimized -- a smaller, leaner team. Still a couple of B players among them but I trust in Richard's decisions. https://www.karyopharm.com/about/management-team/
Dr. Ali on Key Findings From the Phase 1 Study of Selinexor Plus Ruxolitinib in Myelofibrosis
Dr. Ali on Key Findings From the Phase 1 Study of Selinexor Plus Ruxolitinib in Myelofibrosis
https://www.onclive.com/view/dr-ali-on-key-findings-from-the-phase-1-study-of-selinexor-plus-ruxolitinib-in-myelofibrosis
"Data presented at the 2022 ASCO Annual Meeting demonstrated that the combination of selinexor and ruxolitinib was safe and tolerable in all patients"
Selinexor in Combination With R-CHOP Followed by Selinexor Maintenance for Untreated EBV-positive DLBCL Patients
Selinexor in Combination With R-CHOP Followed by Selinexor Maintenance for Untreated EBV-positive DLBCL Patients
https://www.clinicaltrials.gov/ct2/show/NCT05577364?cond=Diffuse+Large+B+Cell+Lymphoma&sfpd_s=09%2F30%2F2022&sfpd_d=14&sel_rss=new14
"Selinexor is Incredibly Helpful... It Performs Very Well"
"Selinexor is Incredibly Helpful... It Performs Very Well"
https://www.youtube.com/watch?v=3S1E-nqmTFY
In this video, Paul Richardson, MD, Dana-Farber Cancer Institute, Boston, MA, discusses the role of selinexor in the treatment of multiple myeloma, emphasizing its value in patients with del(17p)-positive relapsed/refractory (R/R) disease. Dr Richardson also highlights some of the challenges associated with the use of selinexor, and clinical trials evaluating the safety and efficacy of this agent. This interview took place at the 19th International Myeloma Society Meeting (IMS) held in Los Angeles, CA.
Big Data Coming Up
Big Data Coming Up
It's well known that in pre-approval phases, phase 2 data is where the big money can be made. KPTI has a phase 2 data coming out by end of this year. The current valuation is ridiculously low however you look at it. The upcoming phase 2 data is worth the entire current market cap, let alone KPTI's multiple approvals in multiple markets that are currently revenue generating.
Real-World Use of Selinexor, Daratumumab and Dexamethasone in Chinese Patients With Multiple Myeloma at First Relapse
Real-World Use of Selinexor, Daratumumab and Dexamethasone in Chinese Patients With Multiple Myeloma at First Relapse
https://www.clinicaltrials.gov/ct2/show/NCT05559788?cond=Multiple+Myeloma&sfpd_s=09%2F28%2F2022&sfpd_d=14&sel_rss=new14
Safety and Efficacy of Selinexor in Combination With Pembrolizumab in Recurrent Advanced Melanoma
Safety and Efficacy of Selinexor in Combination With Pembrolizumab in Recurrent Advanced Melanoma
https://clinicaltrials.gov/ct2/show/NCT04768881
Gasparetto Discusses Sequencing Selinexor in Relapsed/Refractory Multiple Myeloma
Gasparetto Discusses Sequencing Selinexor in Relapsed/Refractory Multiple Myeloma
September 22, 2022
Targeted Oncology Staff
Case-Based Roundtable Meetings Spotlight, Case-Based Roundtable Meetings Spotlight: September 2022,
https://www.targetedonc.com/view/gasparetto-discusses-sequencing-selinexor-in-relapsed-refractory-multiple-myeloma
IMPORTANT EVENT WITH CEO RICHARD PAULSON
IMPORTANT EVENT WITH CEO RICHARD PAULSON
https://twitter.com/Karyopharm/status/1569712474135629829?cxt=HHwWisDUxbbL3sgrAAAA
Notes From Presentation At Morgan Stanley
Notes From Presentation At Morgan Stanley
12 Sep 2022
https://www.reddit.com/r/KPTI/comments/xctsqz/morgan_stanley_20th_annual_global_healthcare/
Manirini To Buy Karyopharm?
Manirini To Buy Karyopharm?
"ELZONRIS is their only FDA approved drug. They bought it from the developer. Both Stemline and Menarini are growth through licensing & buying. The breast cancer drug currently in front of FDA is licensed from Radius Health. Looks like Menarini is using Stemline to launch this breast cancer drug + Menarini is focusing on having their own oncology franchise and plans to break into the US. On the Menarini website, it also mentioned MDS and MF as their focuses..."
Some of the other possibilities are Sanofi and Roche.
AARON GOODMAN, KPTI BASHER
AARON GOODMAN, KPTI BASHER
25 July 2022
When Aaron Goodman bashes KPTI you know it's time to buy. There's evidence of link between him and an agency hedge funds use to retain "consultant" doctors. Is Goodman a paid shill? We can't prove it but he looks like one.
Fact is #selinexor has an excellent safety profile and is well managed by a huge number of doctors and the drug saves lives and works wonders. Just a bunch of fringe bozos on Twitter get a kick out of trash talking a life saving drug. And some have been linked to hedge funds.
~~
There's evidence that links Aaron Goodman to an agency that hedge funds use to hire "consultant" doctors.
It's well known the shorts hire doctors to trash talk a drug they're short on. I was in elevator and heard conversation of one hedge fund manager with a puppet medical doctor. I also had exchanges with Shkreli (convicted criminal hedge fund manager) who paid doctors to trash talk stocks. If they hired Goodman or not we don't know but it happens.
Their goal is to weaken sales and dissuade doctors and ultimately debilitate the company. They especially do this to companies they know have no teeth or a weak legal department.
Selinexor inhibits growth of patient derived chordomas in vivo as a single agent and in combination with abemaciclib through diverse mechanisms
Selinexor inhibits growth of patient derived chordomas in vivo as a single agent and in combination with abemaciclib through diverse mechanisms
https://www.frontiersin.org/articles/10.3389/fonc.2022.808021/full
Good News: Court dismisses ambulance chasers' lawsuit against Karyopharm.
Good News: Court dismisses ambulance chasers' lawsuit against Karyopharm.
https://www.wilmerhale.com/insights/news/20220812-wilmerhale-achieves-first-circuit-victory-for-karyopharm-therapeutics
On August 5, WilmerHale scored a significant win for client Karyopharm Therapeutics when the First Circuit unanimously affirmed a decision from the District of Massachusetts dismissing a securities class action suit. The WilmerHale team representing Karyopharm includes Peter Spaeth, Allyson Slater, Jocelyn Keider and Mike Bongiorno, who argued the case on appeal.
I hope plaintiff was ordered to cover Karyopharm's legal costs.
CHECK OUT THE UPDATED BASHER FILE AND SOME AFFILIATIONS WITH HEDGE FUNDS:
CHECK OUT THE UPDATED BASHER FILE AND SOME AFFILIATIONS WITH HEDGE FUNDS:
https://www.rezamusic.com/writings/law-ethics/Selinexor-bashers-and-link-to-hedge-funds
24 May 2023 Shareholder Meeting
24 May 2023 Shareholder Meeting
24 May 2023 Shareholder Meeting conducted by management who is too comfortable in lack of accountability, and doesn't have the courage to invite shareholders for an in-person shareholder meeting like it's done for eons by thousands of companies (and can also be webcasted).
The gang that can't shoot straight started the meeting 6 minutes late, at 9:06 and Richard Paulson said it was 9:01. I thought my computer clock was off but it was really 9:06 when he started. Was it a technical issue on their part? There's always excuses for failing, by Richard Paulson's team.
Makes no mistake - what you call "inappropriate questions" by shareholders are just questions you don't like -- like how you justify making 6-figure donations from shareholder money when you have repeatedly failed to keep your guidance for one excuse or another and trashed the shareholder value with incompetent management, especially catastrophic financial mismanagement of the company -- like feeding yourselves and everybody in your empire, every day with catered free lunches, paid by shareholders. You find questioning these matters as "inappropriate questions" but they're absolutely appropriate.
Cowardly, you cut my connection during the meeting just as you announced to address my question. Now I know why. A friend who attended told me what you asked but it was not what I had asked. You did not ask my questions but modified / changed it and called it mine. And you didn't want me on the call to hear your changing my question.
The answer you gave was not surprising: reiterating your delusion that the gang that can't shoot straight is just perfect. Just look at your track record and demolition of shareholder value. Numbers don't lie. And your wasteful irresponsible inept financial management of company value is further proof of your terrible performance. But you all think you all are great. Mutual backscratching: Board endorses management; management covers up and protects the Board, they all get big salaries and bonuses despite disastrous performance (sorry I don't buy your metrics that show to yourselves how great you've done -- all I need to do is look at company value to see how terribly you've done -- and you're DIRECTLY responsible for it despite all the excuses you like to bring. Nobody put a gun in your head to over promise and then under deliver multiple time and go on the air and pretend like it's nothing while the stock gets slashed.
Funny how the horrible CEO Richard Paulson who seems sucked into the dysfunctional culture he inherited because he was too weak to change it at its core (again as measured by change in company value), didn't even mention building company value as a goal. Confirms the notion of the "Fun Science Lab". He effectively said we are just here to do science.
Voting: I can't wait to see the numbers on the 8K to see the level of support you got -- probably just by institutions who are too busy and you're too small for them to bother spending time on the questions and they just go along with management. They don't know some of us shareholders know about how incompetently you're mismanaging some areas of the business, in my view.
1) elec 3 dirs 2) options 3) purchase plan 4) double shares- the suckers keep getting free catered lunch 5) exculpation 6) more money for useless executives 7) E&Y - All Approved.
You call one question per shareholder as "rule of conduct". How convenient, for a management who is too comfortable in burning through shareholder funds and giving it away and feeding their face with it every day while losing millions! You don't like question do you? And that's exactly why you don't want in-person meetings. These are all sick aspects of the culture which your very weak executives who are calling the shots are setting because they can't see beyond the end of their note, and are clueless about some basic concepts like role of demand in share pricing. When I think of Mano and Mason and their style and effect on the in my view dysfunctional culture that Richard inherited and Richard's weakness in just going along with it, which led to disasters (look at share price now) -- it makes me sick.
And it makes me even sicker to hear you say you think your management team is just perfect. Surprise surprise! Saying the management team is just fine shows the depth of your delusion Richard which has got us into this hole because you don't seem to understand that competence matters. That people with higher talent set, different vision, more competence, can do things differently. Don't you know this, after all these years in the industry? Or you are caught in your optimistic bias and are now too shy to let reality shatter it. The awful results speak for itself. If the gang could shoot straight you wouldn't get the company into this hole. Ya keep letting Mike Mano and Mike Mason call the shots. Congrats!
It works for you Richard - with almost $5000 a day in remuneration and it works for them and the Board. So y'all got it made. But this is NOT your private club and you WILL be held accountable as much as you don't like it. The stock price is a part of that. But you don't care about that either - you know how to get around it for your own sake. Yes, I am of the opinion that you're selfish and you like a comfortable life and are right in line with your few low competence team members who are also in this for themselves but part of their low competence is to play the game that effort is results -- and when their low-competence turns into miserable results, you always have an excuse. That's how bad management functions.
And part of that low competence is myopic view - not seeing beyond end of your nose, and lack of credibility, out of box thinking -- which is what you guys are about.
Your answer about clinical trials update was also nonsense. If it wasn't for a shareholder you would not have updated it.
And you let the IP scene go and probably to this day have done nothing about the gross infringement which you probably didn't even know about until I uncovered it. I can imagine Mike Mano standing baffled and coming up for excuses to cover up that and how it's not his problem.
Rejoice. Another year of free catered lunches and burning through shareholder funds while padding yourselves in the back that everything is ok.
Covid is over. Will you hold an in-person meeting next year -- that's if Mason hasn't gotten us bankrupt by then.
Your saying you like to engage with shareholders is an absolute lie. How many shareholders has Mike Mason ever called despite that 600+k packages and daily catered lunches? Let me guess: Zilch. f he cared about shareholders and understood some basic things, at least he could have managed to wear a business outfit in an important call with analyst and shareholders, and pay attention. He comes across like a typical bean counter who should not be our CFO, in my view -- and the thought of the money the company is burning through, and how, under his in my view mismanagement, it makes me sick.
Your "rule of conduct" about 1 question just shows how scared you are of accountability and questioning your dire mismanagement of the Fun Science Lab that benefits everybody but the very people who hired you to run the company for them (those who studied management would understand that concept).
My questions were these:
When are you going to bring in a badly needed new high caliber CFO and Legal Counsel?
How much lower does the share price need to go, and how much more company value needs to be destroyed by your team before you have the integrity and insight to realize the urgency of change, and that your team has been a disaster for your company.
How much lower the stock needs to go before Mike Mason and Richard Paulson find the integrity that feeding themselves and everyone else with free catered lunch every day, paid by shareholders, is an imprudent, irresponsible use of company funds.
What is it going to take, for you to realize that donating six figure sums when company value is tanking because of your mismanagement is imprudent use of funds?
Covid is over. Will you have the courage and integrity to hold in-person shareholder meeting next year like companies have done for eons?
Are you doing something about the gross infringement of selinexor patent by Cato Chem or is Mr. Mano baffled again and you are going to drop the ball again as though it's not your problem? Details here: https://www.rezamusic.com/various/illegal-chinese-bootlegger-cato-chem
PS -- the incompetence runs deep. When you incompetently set up guidance, which you miserably failed at, this was purely due to your incompetence -- not just with numbers and predictions but your perennial wrong attitude that shareholders are for you -- who cares -- irresponsibility -- push comes to shove we can always dilute to get our salary and bonuses and free daily catered lunches going. I can totally see each of our top gang of disaster executives, Richard and his two Mikes taking on that kind of attitude -- and operating at the lowest common denominator, which is pretty low. So sad indeed. Great science in hands of such incompetence.
Instead you could have acted responsibly and thought big picture (sorry for the challenge Mikes) and what over-promising and under-delivering can do to investor confidence and in turn company value -- to even connect those dots which I'm not sure if you're capable of doing!
You could have at least asked the shorts you apparently bailed out (which deeply hurt company value) with the disaster private placement, if they were short. But that would have been like asking a turtle to fly; I don't think that thought would not even occur to Mike Mano and Mike Mason.
Poor Sohanya and Reshma, as our superstar lead singer and lead guitarist who have such a lousy backup band behind them, which effects their performance too. Sohanya's sales world would have been very different if we had a strong Legal Counsel. Reshma's future funding of trials would have been very different if our bean-counter-in-chief would have managed the finances like a strong CFO would. So the song is "cover up for each other and bring excuses; clap for each other as great when we can't even play in tune".
I had sympathy for Richard because he has some very valuable strengths, but he sucked into this mediocre incompetence.
And the Board has failed its key duties that has led to this mess and incompetent destruction of company value. So perhaps a Derivative Lawsuit is the only answer since Richard seems too weak to bring meaningful change to fix this disastrous mismanagement for the company's owners.
All the above and below are in my opinion.
Regards
Selinexor (KPT-330) in Patients With Relapsed/Refractory Diffuse Large B-Cell Lymphoma (DLBCL)
Selinexor (KPT-330) in Patients With Relapsed/Refractory Diffuse Large B-Cell Lymphoma (DLBCL)
https://clinicaltrials.gov/ct2/show/NCT02227251
Big Pharm Interest in Karyopharm
Big Pharm Interest in Karyopharm
KPTI co-founder, Sharon Shacham told me last year they had interest from big pharma but told them "not yet". And their kid has grown and they want it to go to Ivy League which in my view he meant a big top notch pharma like PFE Pfizer, MRK Merck. His wife (co-founder) told me talking with pharma prospective buyers "is like dating" and that she was not good at it :-) Let's hope Richard is :-)
Karyopharm Granted Regulatory Designations for Eltanexor for the Treatment of Myelodysplastic Syndromes
Karyopharm Granted Regulatory Designations for Eltanexor for the Treatment of Myelodysplastic Syndromes
https://investors.karyopharm.com/2022-07-20-Karyopharm-Granted-Regulatory-Designations-for-Eltanexor-for-the-Treatment-of-Myelodysplastic-Syndromes
“Wood and team found that a combination of Selinexor and an AKT inhibitor work much better than chemotherapy, which is the current standard of care for otherwise healthy patients.”
“Wood and team found that a combination of Selinexor and an AKT inhibitor work much better than chemotherapy, which is the current standard of care for otherwise healthy patients.”
https://cagt.pratt.duke.edu/news/locking-leukemia-cellular-escape-hatch
P2RY2-AKT activation is a therapeutically actionable consequence of XPO1 inhibition in acute myeloid leukemia
P2RY2-AKT activation is a therapeutically actionable consequence of XPO1 inhibition in acute myeloid leukemia
https://www.nature.com/articles/s43018-022-00394-x
Selinexor Maintenance Improves PFS in Advanced or Recurrent Endometrial Cancer, Particularly p53 Wild-Type Subset
Selinexor Maintenance Improves PFS in Advanced or Recurrent Endometrial Cancer, Particularly p53 Wild-Type Subset
https://www.onclive.com/view/selinexor-maintenance-improves-pfs-in-advanced-or-recurrent-endometrial-cancer-particularly-p53-wild-type-subset
Selinexor in Patients from Argentina with Multiple Myeloma Treated with Multiple Prior Therapies: A Case Series
Selinexor in Patients from Argentina with Multiple Myeloma Treated with Multiple Prior Therapies: A Case Series
https://pubmed.ncbi.nlm.nih.gov/35834427/
A Study to Evaluate the Safety and Efficacy of Selinexor With or Without Pembrolizumab Versus Standard of Care in Previously Treated Metastatic Colorectal Cancer With RAS Mutations
A Study to Evaluate the Safety and Efficacy of Selinexor With or Without Pembrolizumab Versus Standard of Care in Previously Treated Metastatic Colorectal Cancer With RAS Mutations
The purpose of this study is to evaluate the efficacy and safety of selinexor alone or with pembrolizumab in participants with advanced or metastatic colorectal cancer (CRC). Approximately 78 participants with advanced or metastatic CRC will be enrolled, and randomized (1:1:1) into three arms A (selinexor only), B (selinexor and pembrolizumab), and C (standard of care [Combination of trifluridine and tipiracil]). Randomization will be based on stratification factors: Eastern Cooperative Oncology Group (ECOG) performance status 0 or 1 versus 2. The end of treatment (EoT) visit will occur less than or equal to (<=30) days post-treatment discontinuation. A survival follow-up visit will be performed every 3 months from EoT and will continue for 12 months.
https://clinicaltrials.gov/ct2/show/NCT04854434
Combination Venetoclax and Selinexor Effective in Relapsed Refractory Multiple Myeloma with Translocation t(11;14)
Combination Venetoclax and Selinexor Effective in Relapsed Refractory Multiple Myeloma with Translocation t(11;14)
https://www.medrxiv.org/content/10.1101/2022.08.01.22278282v1
26 Jul 22 - A combination comprised of selinexor (Xpovio) and ruxolitinib (Jakafi) induced rapid spleen responses at week 12 and showcased a manageable toxicity profile in patients with treatment-naïve myelofibrosis.
26 Jul 22 - A combination comprised of selinexor (Xpovio) and ruxolitinib (Jakafi) induced rapid spleen responses at week 12 and showcased a manageable toxicity profile in patients with treatment-naïve myelofibrosis.
https://www.onclive.com/view/selinexor-ruxolitinib-combo-shows-early-activity-tolerability-in-treatment-na-ve-myelofibrosis
The combination of selinexor and ruxolitinib has been well tolerated and with a manageable [adverse] effect [AE] profile,” lead study author, Haris Ali, MD, an associate professor in the Department of Hematology and Hematopoietic Cell Transplantation, of the Division of Leukemia, at City of Hope Comprehensive Cancer Center, and colleagues, wrote in a poster on the data. “No dose-limiting toxicities [DLTs] were observed in patients with treatment-naïve myelofibrosis who received once weekly oral selinexor at 40 mg or 60 mg in combination with standard-dose ruxolitinib.”
https://twitter.com/topcancercure/status/1551769315690459137
#selinexor saves lives. Excellent safety profile. Thanks Dr. Haris Ali @harisali_md. Well done.
Don't let the sucker Aaron Goodman @AaronGoodman33 and hedge funds who are short #KPTI find out. #oncology #Xpovio #ruxolitinib #Jakafi #myelofibrosis
E.U. SECOND APPROVAL IS IN
E.U. SECOND APPROVAL IS IN
21 July 2022 - Big News is out. This approval will boost revenues, makes Karyopharm even a more attractive buyout candidate, and changes valuation models. Analysts upgrades should come soon. Current valuation is ridiculously low. Last year an analyst assigned a $60 buyout price target. Things have only gotten better since then. A big victim of stock price manipulation, KPTI is set to rebound strongly in the months ahead as revenues increase and buyout prospects get better and better. I am critical of the CFO and Legal Counsel and think those departments can significantly improve with better leadership, but am very optimistic overall. Do your own research. Congrats to Richard Paulson and Karyopharm team for this important approval which seemed like Mission Impossible a few months ago.
Karyopharm and Menarini Group Receive Full Marketing Authorisation from the European Commission for NEXPOVIO® (selinexor) for the Treatment of Patients with Multiple Myeloma After at Least One Prior Therapy
Karyopharm and Menarini Group Receive Full Marketing Authorisation from the European Commission for NEXPOVIO® (selinexor) for the Treatment of Patients with Multiple Myeloma After at Least One Prior Therapy
– Based on Results from Phase 3 BOSTON Study, Marketing Authorisation Expands Multiple Myeloma Indication –
– Approval Follows Positive Opinion by European Committee for Medicinal Products for Human Use (CHMP) in May 2022 –
European approval seems to be shoe in
European approval seems to be shoe in
7.19.2022 - DL/2022/5395 - C(2022) 5253 - COMMISSION IMPLEMENTING DECISION granting marketing authorisation under Regulation (EC) No 726/2004 of the European Parliament and of the Council for "NEXPOVIO - selinexor", a medicinal product for human use and repealing Decision C(2021)2299(final). Waiting for C(2022) 5253 Decision details to be published. But "granting" sounds positive., supposing it is replacing Decision C(2021)2299.
Karyopharm Granted Regulatory Designations for Eltanexor for the Treatment of Myelodysplastic Syndromes
Karyopharm Granted Regulatory Designations for Eltanexor for the Treatment of Myelodysplastic Syndromes
– FDA Fast Track Designation and European Commission Orphan Medicinal Product Designation Underscore the Significant Need for New Treatment Options for MDS
Locking Leukemia’s Cellular Escape Hatch
Locking Leukemia’s Cellular Escape Hatch
https://cagt.pratt.duke.edu/news/locking-leukemia-cellular-escape-hatch
“Wood and team found that a combination of Selinexor and an AKT inhibitor work much better than chemotherapy, which is the current standard of care for otherwise healthy patients.”
P2RY2-AKT activation is a therapeutically actionable consequence of XPO1 inhibition in acute myeloid leukemia
CEO HOLDING
CEO HOLDING
CEO Richard Paulson beneficially owns about 660,000 shares. At a $30 buyout price he'll cash in $20 million. At $50 he'll cash in $33 million. But they urgently need a new CFO, in my view.
BASHERS ARE A GOOD SIGN
BASHERS ARE A GOOD SIGN
Very bullish sign when bashers are resorting to outright lies to try to disparage the company. If the company. One such lowlife with a new ID and no prior posts wrote today that Sohanya sold all her shares. She just sold a few bucks worth out of her around 90,000 shares to pay taxes on options which is very normal. I wish the company's legal arm had some balls to go after these bashers but Michael Kauffman hired average, passive people who were below him. Ace CEOs hire people better than themselves. C minus CEOs hire D people.
So let's see Richard shake up the company into a lean and mean place instead of being a punching bag for Wall Street crooks.
CALL WITH KPTI
CALL WITH KPTI
Yesterday, 7 July 2022, I had a 40 minute call with Karyopharm's IR director and their legal council.
I asked them things, I gave them tips / ideas which they said they appreciated.
I am not fond of their legal council.
Unfortunately the IR VP is reporting into the CFO.
The CFO and the legal council were hired by Mike Kauffman - and they're both called Mike. Dr.Kauffman was lousy CEO whom some people think I was instrumental in helping oust him. D-CEOs hire people below them. Ace CEOs hire people who are better than them.
Both Mikes are weak links in my view, and still embody the weak management of Kauffman and the culture he set in.
I questioned them on the Delphi transaction. Upon scrutiny and analysis on my part and their statements, bottom line is they claim they didn't tell the Board on June 7 or June 8 when they got the notice from Biogen. How inept is that?! And Delphi's transaction the next day was therefore just a coincidence! Right! Mano got defensive and asked if I'm thinking he's a lying that Delphi didn't know. I don't know the facts but never assumed he was lying. I remained puzzled and didn't conclude "oh he must be lying". Something doesn't add up. SEC may investigate Delphi. Till will tell.
And then it took KPTI 8 days to release a PR. Mano said we're working on improving out timing! What?! They haven't even gotten timing of PRs handled? Why did it take 8 days?
All this seems to fall in Mike Mano's department -- he was somewhat defensive which further confirms that. It's sloppy at best, IMO.
In my view, this screams of mismanagement. Great science but the IR/Legal side of the company still appears weak, and guess who's in charge of them: the two Mikes.
Elhan, the IR director is a nice, decent lady. Mano is also a nice guy and three of us had a good contact. I even played her a Turkish song on the guitar at the end of the call (we talked about guitar earlier), which they liked. She even understood the words, though I sang them with Azeri accent.
She kept answering me with "investor calls" -- I gave her tips about a lot that can happen outside investor calls.
Argot is in the picture with a reduced role (good). Gave them some tips I got from other CFOs about need to actively manage these thin-spread external IR firms.
We established a reliable channel of communication (me emailing Elhan). Although I could choose to write to Richard directly esp. given Mike Mason is Elhan's boss and I don't believe he's been investor friendly. And I'm not happy with the cost structure and I have no confidence in him as CFO, esp. regarding him calling shorts on ATM (I relayed a message to him that use of ATM at these prices would be utterly irresponsible). But I'm not selling my shares because of that. I'm holding till buyout.
Regarding countering disparagement by short cartel, their hired doctors (consultants) - I don't see it in Mano's profile any "teeth".
At the end Mano was like this is a talk between me, Mike Mano and you (trying to persuade me not to relay anything to public). I reminded them these are formal discussions between the company and the public and there's no need for them to be confidential - since nothing private was told to me. Hello!
Also told Elhan about history / founder's syndrome - she hadn't heard about it. And that she needs to be disruptive to inherited status quo. But given she reports to Mason I'm not holding my breath.
Mano wanted more info on my statement that Kauffman was a terrible CEO in my view. I elaborated some reasons.
It felt I had to reiterate some basics for them: that public company's management is hired by shareholders to build shareholder value, and detailed the factors that go into it, e.g. confidence on demand channel - marketing of the security - etc. etc.
And other topics, like BP manipulating share price; notes on buyout prospects and what the founders told me on the two zoom calls I had with them.
It was more of a learning experience for them than for me. They got to tap into the intensity of the challenge they're faced and that us shareholders hold them accountable.
I will keep my shares till buyout.
____
Company is still bogged down by repercussions of Michael Kauffman's mismanagement, in particular a couple of people he hired, Mike Mason as CFO and Mike Mano as Legal Counsel. In my view, based on a number of observations. Shorts have upped their stake probably knowing the company's weakness in these areas (CFO and Legal). Great science, great medicine, in hands of people who have proven to be incapable of building shareholder value. But I'm still not selling my shares.
M&A is down, but Big Pharma likely to line up 'multiple shots on goal' in 2nd half, PwC says
M&A is down, but Big Pharma likely to line up 'multiple shots on goal' in 2nd half, PwC says
https://www.fiercebiotech.com/biotech/ma-down-big-pharma-likely-line-multiple-shots-goal-heading-2nd-half
Price Jolt Two Week Cycle
Price Jolt Two Week Cycle
An experienced investor said when there are jolts it takes 2 weeks for it to settle. I agree. KPTI broke down after a non-event deal cancellation on something that was not even in the valuation picture, coupled by a director (hedge fund) selling a small fraction of her holding which some speculated may have been related to crypto crash. Neither of these were justification for the price breakdown, so I'm on the side of those who think some market makers are manipulating KPTI. In that scenario, the stock falling under $5 triggered margin calls at some brokers. I know as a fact some brokers don't even let self-directed accounts to buy stocks under $5 and some major brokers don't provide margin buying power for stocks under $5. So these 3 factors created a jolt. I don't think there were any real, big sellers. But games including naked shorting by MMs. But these have a short cycle of about 2 weeks for dust to settle and start of buys that historically have caused sudden rebound.
PS -- Add to the manipulation mix end of quarter window dressing by hedge fund shorts to maximize their performance and fees.
New Positive Finding
New Positive Finding
Mount Sinai looked at the genomics of your super responders, found that cancers that don't respond to chemotherapy +- radiation respond to Selinexor with deep and durable responses.
https://www.reddit.com/r/KPTI/comments/vd684e/an_interesting_read/
Straight out of small biotech playbook. Next step: Buyout.
Straight out of small biotech playbook. Next step: Buyout.
$ARNA was taken out of retail hand and sold to Pfizer ($PFE). I’ve seen many examples of biotechs where retail holds majority shares and supports the company for years, then professional investors get involved and play their tricks and get retail to sell and they get majority of the shares then the company gets sold for a big premium. ARNA was $15 before reverse split after their lousy Founder/CEO was fired by the board which many believe was due to our efforts (and me specifically as active investor group). That $15 share was bought by Pfizer for $100 a few years later. $KPTI (Karyopharm)’s founder/CEO was fired last year (again many think our/my efforts was the catalyst) – and institutional interest has been rising. Next in the play book is a buyout for a rich premium, in my opinion. So I just hold my shares. Heavy manipulation is expected as another 10% of the company is in retail hands and needs to shift to institutions. So games are played abundantly. I just hold and smile and wait it out. Experts believe 2nd half of 2022 will see many bio-pharma M&A's. KPTI was on top of Barclay's M&A list for $60 a share last year. Nothing has changed except manipulation to shift wealth from retail to institutional hands. Retails who hang in there win. In my opinion; not an investment advice.
Antengene Announces Clinical Trial Collaboration with BeiGene to Evaluate Selinexor in Combination with Tislelizumab in T and NK-Cell Lymphoma
Antengene Announces Clinical Trial Collaboration with BeiGene to Evaluate Selinexor in Combination with Tislelizumab in T and NK-Cell Lymphoma
https://www.prnewswire.com/news-releases/antengene-announces-clinical-trial-collaboration-with-beigene-to-evaluate-selinexor-in-combination-with-tislelizumab-in-t-and-nk-cell-lymphoma-301574822.html
Excellent New Presentation at Jefferies / Sales on track
Excellent New Presentation at Jefferies / Sales on track
https://wsw.com/webcast/jeff240/kpti/1858200
Management reiterated guidance for the year. Sales are on track, despite efforts of the hedge fund doctor puppets to derail sales.
Selinexor is Approved in 38 Countries
Selinexor is Approved in 38 Countries
38 countries! More approvals coming.
Canada Approved Selinexor
Canada Approved Selinexor
FORUS Therapeutics Inc ("FORUS") Announces XPOVIO® (selinexor) Is Authorized for Sale by Health Canada
Selinexor and an AKT inhibitor work much better than chemotherapy
Selinexor and an AKT inhibitor work much better than chemotherapy
Locking Leukemia’s Cellular Escape Hatch
“Wood and team found that a combination of Selinexor and an AKT inhibitor work much better than chemotherapy, which is the current standard of care for otherwise healthy patients.” P2RY2-AKT activation is a therapeutically actionable consequence of XPO1 inhibition in acute myeloid leukemia
https://cagt.pratt.duke.edu/news/locking-leukemia-cellular-escape-hatch
Interview With CEO
Interview With CEO
Q&A with Karyopharm Therapeutics
https://www.massbio.org/news/recent-news/member-spotlight-qa-with-karyopharm-therapeutics/
1 JUNE 2022 UPDATE
1 JUNE 2022 UPDATE
§ The stock has been on a roller coaster along with XBI.
§ Institutional interest is almost 90% again (89.19%). I really like this metric because it shows level of conviction of institutions who generally do a lot of due diligence before buying a stock.
§ KPT Is more sensitive to XBI these days because also XBI increased its holding.
§ The company's founders should be rolling off the management page on the website any day. That's a good thing.
§ ASCO meeting starts this Friday. Karyopharm will be presenting new Selinexor data.
§ Short interest is at 14.5 million shares. They rise in short interest corresponds with latest price drop but it is artificial supply given institutional interest has been going up, so that could increase chance of short squeeze.
§ The company's presenting at Jefferies' in NY on June 9.
§ The company is presenting at EHA in Austria on June 9-12.
§ Phase 3 trials are cool. They put the company one step closer to more revenue. A P3 Study Evaluating an All Oral Regimen of Selinexor in Combination with Pomalidomide and Low-dose Dexamethasone in Patients with Relapsed or Refractory Multiple Myeloma has started and it's paid for by a MM coalition. Can't beat that.
§ EU approval will likely be granted this month. Menarini Group is ready to hit the ground running.
§ KPTI's investment thesis right now, in my book, is valuation, valuation, valuation. Any way I look at it the company ought to be three times current value currently. It'll get there, in my opinion.
§ Buyout written all over this stock. The ex-founder told me it's effectively a matter of when not if. I can wait. Amgen and Pfizer are on top of my list.
§ Revamped my KPTI info page: [Updated: https://www.rezamusic.com/writings/law-ethics/KPTI-Mismanagement]
1 June 2022 Snapshot:
Institutional interest: 89.19%
Short interest: 14.5 million
Stock price: 6.28 (94.20 pre-RSS)
Karyopharm to Present New Selinexor Data at the 2022 American Society of Clinical Oncology Annual Meeting
Karyopharm to Present New Selinexor Data at the 2022 American Society of Clinical Oncology Annual Meeting
– Encouraging Initial Data Observed in Phase 1/2 Study of Selinexor in Combination with Ruxolitinib in Treatment-Naïve Myelofibrosis, Including Favorable Tolerability with No Dose Limiting Toxicities and 75% of Evaluable Patients Demonstrating ≥35% Spleen Volume Reduction (SVR 35) at Week 12 –
– FDA Grants Orphan Drug Designation for Selinexor for the Treatment of Myelofibrosis –
– Exploratory Subgroup Analyses from SIENDO Trial in Patients with Endometrial Cancer Treated with Selinexor as Maintenance Therapy Identified p53 Wild-type as a Potentially Important Predictor of Efficacy, with 10-month PFS Improvement over Placebo; No Benefit Was Seen in Patients with p53 Mutant Tumors –
https://investors.karyopharm.com/2022-05-26-Karyopharm-to-Present-New-Selinexor-Data-at-the-2022-American-Society-of-Clinical-Oncology-Annual-Meeting
GREAT NEWS: Another Phase 3 trial and good phase 2 data and paid by an expert group!!
The European Myeloma Network and Karyopharm Announce Dosing of First Patient in Collaborative EMN29/XPORT-MM-031 Study
The European Myeloma Network and Karyopharm Announce Dosing of First Patient in Collaborative EMN29/XPORT-MM-031 Study
- Phase 3 Study Evaluating an All Oral Regimen of Selinexor in Combination with Pomalidomide and Low-dose Dexamethasone in Patients with Relapsed or Refractory Multiple Myeloma -
https://investors.karyopharm.com/2022-05-25-The-European-Myeloma-Network-and-Karyopharm-Announce-Dosing-of-First-Patient-in-Collaborative-EMN29-XPORT-MM-031-Study
FULL EMA SECOND APPROVAL COULD COME BY END OF JUNE
FULL EMA SECOND APPROVAL COULD COME BY END OF JUNE
Full EMA approval could come before end of June. Kimmtrak was approved by EMA 38 days after CHMP approval. On 25 Feb Kimmtrak was recommended by CHMP. It was approved on April 4. 60 days is max. 38 days for Karyopharm means 26 June.
POSITIVE CHMP OPINION FOR SECOND LINE PLUS - EU APPROVAL EXPECTED BY 19 JULY 2022
POSITIVE CHMP OPINION FOR SECOND LINE PLUS - EU APPROVAL EXPECTED BY 19 JULY 2022
Karyopharm and Menarini Group Receive Positive CHMP Opinion for NEXPOVIO® (selinexor) for the Treatment of Patients with Refractory Multiple Myeloma
Karyopharm and Menarini Group Receive Positive CHMP Opinion for NEXPOVIO® (selinexor) for the Treatment of Patients with Refractory Multiple Myeloma
European Commission Decision Anticipated within Approximately 60 Days
https://investors.karyopharm.com/2022-05-20-Karyopharm-and-Menarini-Group-Receive-Positive-CHMP-Opinion-for-NEXPOVIO-R-selinexor-for-the-Treatment-of-Patients-with-Refractory-Multiple-Myeloma
Karyopharm Announces XPOVIO® (selinexor) Data to be Presented at the European Hematology Association 2022 Hybrid Congress
Karyopharm Announces XPOVIO® (selinexor) Data to be Presented at the European Hematology Association 2022 Hybrid Congress
Excellent presentation at RBC CAPITAL
Excellent presentation at RBC CAPITAL
https://www.veracast.com/webcasts/rbc/healthcare2022/j34239.cfm -- Management came across as extremely confident.
Antengene Announces Commercial Availability of XPOVIO® (Selinexor), for the Treatment of Relapsed/Refractory Multiple Myeloma, Prescribed for the First Time Across Mainland China
Antengene Announces Commercial Availability of XPOVIO® (Selinexor), for the Treatment of Relapsed/Refractory Multiple Myeloma, Prescribed for the First Time Across Mainland China
https://www.prnewswire.com/news-releases/antengene-announces-commercial-availability-of-xpovio-selinexor-for-the-treatment-of-relapsedrefractory-multiple-myeloma-prescribed-for-the-first-time-across-mainland-china-301547596.html
Antengene Announces XPOVIO® (selinexor) Data to be Presented at the Upcoming 2022 European Hematology Association Hybrid Congress
Antengene Announces XPOVIO® (selinexor) Data to be Presented at the Upcoming 2022 European Hematology Association Hybrid Congress
https://www.prnewswire.com/news-releases/antengene-announces-xpovio-selinexor-data-to-be-presented-at-the-upcoming-2022-european-hematology-association-hybrid-congress-301546874.html
HIGH PROFILE DOCTOR JOINS THE TEAM
HIGH PROFILE DOCTOR JOINS THE TEAM
Karyopharm is pleased to give a warm welcome to Dr. Tomer Mark as our Senior Vice President of Medical Strategy! We are confident that his deep expertise within the hematology space will be invaluable as we continue to develop our core programs.
https://som.ucdenver.edu/Profiles/Faculty/Profile/24678
https://www.uchealth.org/provider/tomer-mark-md-msc-hematology/
https://som.ucdenver.edu/Profiles/Faculty/Profile/24678
We got some top notch sales reps
We got some top notch sales reps
e.g.Tanya Rivers Granados
https://www.linkedin.com/in/tanya-rivers-granados-%F0%9F%87%BA%F0%9F%87%A6-43156317/
Commodore Capital LP bought 4 million shares of KPTI. They're a young hotshot 5th Avenue biopharma investment firm.
Commodore Capital LP bought 4 million shares of KPTI. They're a young hotshot 5th Avenue biopharma investment firm.
https://www.commodorecapital.com/team
'New paper is published "A Case Report of a 58-Year-Old Woman with a Diagnosis of High-Risk Myeloma Refractory to Multiple Line of Therapy and Treated with Selinexor, Bortezomib, and Dexamethasone Prior
'New paper is published "A Case Report of a 58-Year-Old Woman with a Diagnosis of High-Risk Myeloma Refractory to Multiple Line of Therapy and Treated with Selinexor, Bortezomib, and Dexamethasone Prior
to Allogeneic Stem Cell Transplantation."
In this paper, a case of a 58-year-old woman with high-risk MM who had received 8 prior treatment lines, and whose disease was refractory to ixazomib, bortezomib, and all immunomodulatory agents, is described. After everything stopped working, this patient was treated with selinexor, bortezomib, and dexamethasone (XVd). After 1 cycle of XVd, she achieved a partial response, and after 4 cycles, a very good partial response (VGPR). Therefore, stem cell transplantation was performed. She remained relapse-free for 13 months after initiating XVd. Good to see that Selinexor works well in patients which have no other options.'
KPTI Titles for Selinexor presentations at ASCO in June:
KPTI Titles for Selinexor presentations at ASCO in June:
1. Phase Ib trial of selinexor (SEL) in combination with nivolumab (NIVO) alone or nivolumab plus ipilimumab (NIVO+IPI) in patients (pts) with advanced malignancies: The renal cell carcinoma (RCC) experience.
2. Phase 1b study of weekly split-dose selinexor in soft tissue sarcoma (STS).
3. Randomized phase III study of maintenance selinexor versus placebo in endometrial cancer (ENGOT-EN5/GOG-3055/SIENDO): Impact of subgroup analysis and molecular classification.
4. A phase 1, open-label, dose-escalation study of selinexor plus ruxolitinib in patients with treatment-naïve myelofibrosis.
5. Phase Ib study of selinexor and eribulin combination in advanced solid tumors and triple-negative breast cancer.
https://www.instagram.com/_the_ary/
Karyopharm Announces Selinexor Data to be Presented at the 2022 American Society of Clinical Oncology Annual Meeting
Karyopharm Announces Selinexor Data to be Presented at the 2022 American Society of Clinical Oncology Annual Meeting
https://investors.karyopharm.com/2022-04-27-Karyopharm-Announces-Selinexor-Data-to-be-Presented-at-the-2022-American-Society-of-Clinical-Oncology-Annual-Meeting
Oral Presentation
Title: Randomized phase III study of maintenance selinexor versus placebo in endometrial cancer (ENGOT - EN5/GOG-3055/SIENDO): Impact of subgroup analysis and molecular classification
Presenter: Vicky Makker, Memorial Sloan Kettering Cancer Center
Abstract #: 5511
Date and time: Tuesday, June 7, 2022, 8:00 a.m. – 9:30 a.m. CDT
Session: Clinical Science Symposium/Molecular-Based Treatment for Endometrial Cancer
Poster Presentations
Title: A phase 1, open-label, dose-escalation study of selinexor plus ruxolitinib in patients with treatment-naïve myelofibrosis
Presenter: Haris Ali, City of Hope
Abstract #: 7060
Date and time: Saturday, June 4, 2022, 8:00 a.m. – 11:00 a.m. CDT
Session: Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant
Title: Phase 1b study of weekly split-dose selinexor in soft tissue sarcoma (STS)
Presenter: Abdulazeez Salawu, University Health Network
Abstract #: 11563
Date and time: Sunday, June 5, 2022, 8:00 a.m. – 11:00 a.m. CDT
Session: Sarcoma
Title: Digital monitoring and assessments in patients with glioblastoma
Presenter: Yasaman Damestani, Karyopharm Therapeutics, Inc.
Abstract #: 2045
Date and time: Sunday, June 5, 2022, 8:00 a.m. – 11:00 a.m. CDT
Session: Central Nervous System Tumors
CEO Richard Paulson has a very impressive background. Solid business and sales and management experience unlike the last CEO who was just a good doctor/scientist and ran the company into the ground by mismanagement. Turnaround in progress.
CEO Richard Paulson has a very impressive background. Solid business and sales and management experience unlike the last CEO who was just a good doctor/scientist and ran the company into the ground by mismanagement. Turnaround in progress.
https://www.linkedin.com/in/richard-paulson-462536/
Details of KPTI Presentations at American Association For Cancer Research April 8 to 13
Details of KPTI Presentations at American Association For Cancer Research April 8 to 13
· 4067 / 21 - Combination venetoclax and selinexor effective in relapsed refractory multiple myeloma with translocation t(11;14) https://www.abstractsonline.com/pp8/#!/10517/presentation/15278
· 5455 - Nuclear export inhibitor selinexor synergizes with proteasome inhibitor marizomib in preclinical models of glioblastoma https://www.abstractsonline.com/pp8/#!/10517/presentation/17686
· 1122 / 12 - Selinexor synergizes with IL-12 to inhibit tumor growth in syngeneic mouse models of melanoma https://www.abstractsonline.com/pp8/#!/10517/presentation/16291
· 6022 - Synergistic anti-cancer effects of selinexor and bevacizumab in mouse xenograft models of glioblastoma https://www.abstractsonline.com/pp8/#!/10517/presentation/17979
· 6023 - Selinexor synergizes with temozolomide in preclinical models of glioblastoma independent of MGMT promoter methylation https://www.abstractsonline.com/pp8/#!/10517/presentation/17980
· 6025 - Baseline cytokine profiling in naïve and tumor-bearing Balb/c and C57BL/6 Charles River mice https://www.abstractsonline.com/pp8/#!/10517/presentation/17982
· 5832 - Utilizing small noncoding RNAs as biomarkers for selinexor treatment in gastric cancer https://www.abstractsonline.com/pp8/#!/10517/presentation/18815
· 4195 / 3 - Evaluation of the anti-myeloma effects of high and metronomic selinexor alone and in combination with duvelisib in vitro and in vivo https://www.abstractsonline.com/pp8/#!/10517/presentation/16809
· 5519 - Selinexor synergizes with anti-PD-1 antibody and inhibits tumor growth and metastasis in syngeneic mouse models of KRAS mutant colorectal cancer https://www.abstractsonline.com/pp8/#!/10517/presentation/17738
· 5536 - Selinexor inhibits lymphoma-leukemia tumor progression directly and through activation of anti-cancer immune response https://www.abstractsonline.com/pp8/#!/10517/presentation/17755
· 5314 - Selinexor, a selective inhibitor of nuclear export (SINE) compound, enhances the anti-tumor activity of Eribulin in leiomyosarcoma https://www.abstractsonline.com/pp8/#!/10517/presentation/18544
· 5330 - Nuclear protein export inhibitor selinexor chemotherapy combination for pancreatic cancer therapy https://www.abstractsonline.com/pp8/#!/10517/presentation/18560
20 presentations with Selinexor at AACR meeting in April / "99% inhibition of tumor growth with two mice cured sounds remarkable"
20 presentations with Selinexor at AACR meeting in April / "99% inhibition of tumor growth with two mice cured sounds remarkable"
Top expert is a big fan of KPTI's science
Top expert is a big fan of KPTI's science
Robert L. Coleman, M.D., FACOG, FACS
https://www.texasoncology.com/gynecologic-oncologist/robert-coleman
GOOD NEWS: MERCK KEYTRUDA BLOCKBUSTER EXECUTIVE JOINS KARYOPHARM AS CHIEF MEDICAL OFFICER
GOOD NEWS: MERCK KEYTRUDA BLOCKBUSTER EXECUTIVE JOINS KARYOPHARM AS CHIEF MEDICAL OFFICER
NEW SELINEXOR APPROVAL - Many more to come.
NEW SELINEXOR APPROVAL - Many more to come.
https://www.antengene.com/wp-content/uploads/2022/03/%E3%80%90VA-EN%E3%80%91Approval-of-NDA-by-the-Singapore-HSA-for-Xpovio%C2%AE-for-the-Treatment-of-Relapsed-or-Refractory-Multiple-Myeloma-and-Diffuse-Large-B-Cell-Lymphoma-in-Three-Indications.pdf
APPROVAL OF NDA BY THE SINGAPORE HSA FOR XPOVIO (SELINEXOR) FOR THE TREATMENT OF RELAPSED OR REFRACTORY MULTIPLE MYELOMA AND DIFFUSE LARGE B-CELL LYMPHOMA IN THREE INDICATIONS
APPROVAL OF NDA BY THE SINGAPORE HSA FOR XPOVIO (SELINEXOR) FOR THE TREATMENT OF RELAPSED OR REFRACTORY MULTIPLE MYELOMA AND DIFFUSE LARGE B-CELL LYMPHOMA IN THREE INDICATIONS
"I remember what Pfizer CEO said about buyouts. He wants to identify gems before they are fully developed, to maximise their investment return. Siendo is essentially that. Now is the time to buy for its potential in other solid tumors. Not later. Just a thought about the possibility of an imminent buyout."
2023 Vote
2023 Vote
FOR 24 MAY 2023: VOTE WITHHOLD, NO, AGAINST ON ALL ITEMS
Karyopharm's useless Board of Directors and lousy management are wasting shareholder money hiring a company to solicit votes so the bozos can continue their inept, clueless destruction of shareholder value. Vote NEGATIVE/WITHHOLD on all items.
SHAREHOLDER MEETING QUESTIONS
SHAREHOLDER MEETING QUESTIONS
Have your CONTROL NUMBER and CUSIP ready in case the chickens only let confirmed shareholders in. My Qs:
- When are you going to bring in a badly needed new high caliber CFO and Legal Counsel?
- How much lower does the share price need to go, and how much more company value needs to be destroyed by your team before you have the integrity and insight to realize the urgency of change, and that your team has been a disaster for your company.
- How much lower the stock needs to go before Mike Mason and Richard Paulson find the integrity that feeding themselves and everyone else with free catered lunch every day, paid by shareholders, is an imprudent, irresponsible use of company funds.
- What is it going to take, for you to realize that donating six figure sums when company value is tanking because of your mismanagement is imprudent use of funds?
- Covid is over. Will you have the courage and integrity to hold in-person shareholder meeting next year like companies have done for eons?
- Are you doing something about the gross infringement of selinexor patent by Cato Chem or is Mr. Mano baffled again and you are going to drop the ball again as though it's not your problem? Details here: https://www.rezamusic.com/various/illegal-chinese-bootlegger-cato-chem
MYTH ABOUT DILUTION
MYTH ABOUT DILUTION
Myth about dilution. I respect Dr. DD's work but disagree with some of his assessments. So the disinformation is going around that approval of the new shares mean dilution. It does not. There's no dilution until they dilute. So people saying approval of that means shares are diluted and stock would drop are wrong. I voted NO to it because I can't stand some of the management but I don't like seeing the disinformation spread that yes means shareholders are diluted as a result.
SHAREHOLDER MEETING WITH CHICKENS
SHAREHOLDER MEETING WITH CHICKENS
If you're attending the shareholder call with those chickens who like to hide behind their computers and can't handle shareholders being present in the room, have your questions pre-typed up so you can just paste it in because the moronic chickens will not wait much for the question to be typed. Last times they said does anyone have any questions and did not provide enough time to type up a question because they don't like questions. They like running their Fun Science Lab what spends like crazy under in my opinion lousy CFO Mike Mason, weak CEO Richard Paulson and baffled Legal Counsel Mike Mano, and feed their faces and all employees with free catered lunched funded by shareholders, and donate six figure donations to charity because they seem to be clueless on how to build company value; numbers don't lie: one heck of a failure management team and one heck of a lousy and lazy Board of Directors. Great science in hands of moronic inept management team (with exception). All IMHO.
More example of incompetent mismanagement, and need for NEW BLOOD
More example of incompetent mismanagement, and need for NEW BLOOD
Mr. Barry Green: Please forward this to the rest of Karyopharm's Board members. So they're not surprised if a derivative lawsuit hits.
More examples of utter mismanagement. Richard, what are you doing with the over 1 million dollars you're making off the shareholders every year. It is off the shareholders because your revenues fall way short of you and Mike Mason's crazy spending spree and financial mismanagement with donating (giving away our money) 6 figures, daily free catered lunch for the entire big empire that's sustained by our money, and you can't even keep the clinical trials updated. See this post:
https://www.linkedin.com/feed/update/urn:li:ugcPost:7065472792879665152/
It stinks. It's a shame to pay you guys millions AND free daily catered lunches and you can't even be proactive -- you're reactive when a shareholder screams and you wake and take action. That's a terrible way of managing this Fun Science Lab. It's not driving company value. It's milking shareholders for money to sustain your inept, reactive mismanagement of the company with your deep below average team you're too weak to challenge and flush out.
With all the millions you're burning in donations, free lunches for yourselves, and fun events, donations donations donations, using our money -- you could find the seriousness and integrity to deliver company value for the money you're over-paid. The same goes with the sleepy Board which seems to just like to collect fat salaries and bonuses and just endorse this dysfunctional management that ensures the Board will continue its easy comfortable profitable life, using shareholder money.
But you can't deliver company value with some of your executive team who seem extremely incompetent in driving shareholder value as has been proven by hard numbers. So as long as the same low-quality, inept executives doing the same thing, same mentality, same mixing of effort with result, same myopic thinking, and can't even dress properly in an investor call because investors don't matter, they're just there to fund our lavish lifestyle, free daily catered lunches, and when we have to revise our incompetent over promising we just under deliver and wish everybody a great day like Mike Mason did on the same day the disastrous mismanaged guidance was announced; and there's always excuses.
Reactive management, incompetent mismanagement of shareholder value, irresponsible burning of cash, sustenance of a dysfunctional financially catastrophic status quo, no accountability, mismanagement of our rights, gross infringement of our IP, always having excuses, over promising and under delivering, that's Richard Paulson CEO for you with his CFO Mike Mason and Legal Counsel Mike Mano whom the Board loves as he covers up for them, e.g. his in my view futile argument to protect Deepa's insider sale ahead of Siendo. Richard was warned about this disaster a year ago but he ignored it. Management by ignorance is also a part of this dysfunctional status quo.
So get on with it Richard. Get serious. We're paying you over $4000 today for your time to do something positive for shareholders. Your gang is not effective, can't do it, it's taken its tests and failed time and again. People who paid over $20 for the stock are looking at $2.40 because the company is mismanaged and in hands of some key people who lack the competence and intelligence and vision and ability and motivation and care to drive shareholder value, even if they want to. So it's time for NEW BLOOD.
You absolutely need new blood. Mike Mason and Mike Mano are too engraved in this dysfunctional status quo to change. They're in the fabric of it -- you're almost there too because you were too weak, too scared to bring meaningful change. Get on with it.
And you people on the Board, have some integrity to stand aside -- you're all rich and can afford to live without getting fat salary and bonus paid by shareholders you've so let down. So have the integrity to quit. Walk out. Or if you want to stay, do something for the money you're paid to fulfill your duty to drive company value -- Richard's gang you explicitly endorse can't shoot straight. It needs to be fired.
You need NEW BLOOD to clean up this mess you've created with the CEO CFO and Legal Counsel at the heart of it. Fire them all and get new people, if Richard can't get his act together. All the above in my opinion.
Free daily catered lunches to feed faces of incompetent* management, paid by shareholders.
Free daily catered lunches to feed faces of incompetent* management, paid by shareholders.
*Public company management competence is measured by success in driving company value. Our gang can't shoot straight in that regard, despite the free lunches we feed their faces every day!
https://www.ziprecruiter.com/c/Karyopharm-Therapeutics-Inc./Job/Workplace-Services-Coordinator-Part-Time/-in-Newton,MA
While CFO Mason Was Busy Feeding His And Everyone's Faces With Free Catered Lunches Paid By Shareholders, Institutional Interest Dropped
While CFO Mason Was Busy Feeding His And Everyone's Faces With Free Catered Lunches Paid By Shareholders, Institutional Interest Dropped
Institutional interest drop from 91% to 76% despite daily free lunches we feed Mason, Mano, Paulson and company with.
While CFO Mike Mason was busy feeding himself and all employees with free daily catered lunches, paid by shareholder money, institutions dumped millions of shares because apparently they don't trust this management team, despite the great science.
Richard, when are you going to wake up and smell the roses? You're at least a year late. Imagine if you had a hot or above average CFO last year, at the level of Sohanya and Reshma -- I bet things would be *very* different. And I bet if you had a hot or above average Legal Counsel, that disastrous private offering would have been a lot different, and the forces who've hurt your sales with professional disinformation campaigns would be a lot weaker.
But the buck stops at the top and this disaster is solely the responsibility of CEO Richard Paulson who seems to be living in an illusion or blinded by optimistic bias or whatever weakness he may have to (wrongly) expect the same people doing the same thing would yield different results! Competence matters! And a part of that illusion is comfort of excuses which you guys are experts are bringing, to cover up for your incompetence: your inept mismanagement of the company as reflected in shareholder value.
Barry, Garen, Deepa, and the rest of the useless Board, it's time to refer to ethics, that's if you have any, and think of what you have done for the fat salary and bonuses you keep giving to yourselves. Sorry I forgot about the excuses you have. Always excuses to cover up for your incompetent destruction of company value. It's always for you, for the insiders, and everyone else, but not the shareholders.
It's like a corrupt country: it's people for the government instead of the other way, which is the government serving the people. Here, it's shareholders to fund the incompetent, lazy, irresponsible, ineffective mismanagement of company value, and fund their daily catered lunches for all employees too! You got it made! But you forgot that you're accountable to shareholders, that and your mismanagement of your Fun Science Lab that enriches you, has consequences, one of which is a derivative lawsuit to hold you to account to your incompetent and irresponsible failures. Thank God you can't use the science as an excuse because as Sharon told me, the drug is great -- the issue is purely one of incompetent management and a dysfunctional paradigm that's impossible to change without significant new blood at the C-level suite.
All the above are in my opinion.
Regards
Daily Catered Lunch For All Employees! Palson/Mason/Mano's Fun Science Lab needs a major shakeup
Daily Catered Lunch For All Employees! Palson/Mason/Mano's Fun Science Lab needs a major shakeup
The free lunches could be costing the company around $2.7 million a year = over 1,100,000 shares diluted so we can stuff the employees face because our CFO and CEO suck.
Need to dilute some 1.1 million shares so our terrible CFO can stuff his and everyone's face with catered free lunches so they have more time for air guitar haha.
It's too bad Richard Paulson that you were so weak as to not be able to take the bull of expenses and wasteful corporate culture by the horns. A run away bull that's killing the company and the guy who's supposed to be taming it, is part of the problem himself and weaker than you. Michael Kauffman hired Mike Mason for a reason: bringing a top notch CEO would be too big of a threat to him because he knew he was a weak CEO - he had never run a company to success before and the only company he was a CEO was went bankrupt.
Richard, you inherited that culture and while you brought two superstars (Sohanya and Reshma) you failed to fix the issue of waste and financial mismanagement at the core.
Daily catered free lunch for all employees is costing the company something around 2.7 million dollars a year. You'd have to dilute the shareholders by some 1,102,040 shares to benefit all employees with a free catered lunch every single day, including the disaster management trio of yourself, Mike Mason, Mike Mano who's track records in destruction of shareholder value (incompetent, ineffective, awful mismanagement of the company) has been stellar. You win a Gold Medal in value destruction, and a free catered lunch every day.
Richard, have you ever worked with top notch CFOs? I have and I can tell you Mike Mason is not, and to the contrary, he's been a disaster as a CFO in my view.
Rumor is he's into air guitars!! Maybe he can sell some of his air guitars and pay for free lunch for himself and all the hundreds of employees at this unsustainable poorly managed empire which is ready to collapse if this dysfunctional status quo continues. And the Board, Ms. Deepa Pakianathan, Mr. Barry Green, Mr. Garen Bohlin et al., have been an utter disaster or so careless and in breach of their key duties that they even explicitly endorsed your top two disaster executives, in my view, Mike Mason and Mike Mano. I guess it's because they make sure the Board members continue to receive their fat packages for doing effectively zilch that translates to company value. And Mano was trying hard to justify Deepa's very oddly times insider sale!
Fun Science Lab's mismanagement always has excuses. Don't seek comfort in excuses. Connect the dots. Strength of Legal Counsel is connected to sales when sharks are actively trying to hurt your sales by disinformation but these concepts are foreign to people who can't think outside the box.
Richard, this free lunch revelation shows you've proven to be extremely weak as a CEO and bulldozed by the dysfunctional culture you inherited -- perfectly functional and profitable for yourselves and the employees, but a disaster for your bosses to whom you're forgetting that you're accountable to: the shareholders whose money is mismanaged by our terrible CFO and CEO and the company has turned into a perfect punching bag and yo-yo for hedge funds, under the weak and awful mismanagement of Mike Mano, and terrible deals like the last private placement which was a gift for shorts, and your weak executives and yourself, totally failed to see that because your weak executives are not thinking out of the box, and their priority seems to be ensuring there's enough funds for their free lunch and fat salary and bonuses -- thousands of dollars a day, per each of the weak employees, and over $4000 a day for you Richard, who've run this company tot he ground by being weak, ineffective, and an absolutely terrible CEO.
Prove me wrong: get a new CFO who can end the misery of this run away expense train and start thinking outside the box, and other small but important things: wearing a business outfit to important analyst calls is a good start -- what an executive wears is important. Mason's casual outfit together with his careless and terrible body language just confirms the nightmares that your gang is in it for itself, doesn't give a damn about shareholders and analysts period.
That's a scary thought but it's what you are. And when finally you and Mason got to cut expenses was when you incompetently lowered guidance (which you should have never set at that level but having a CFO like Mason and a weak CEO like you I'm not surprised at these screw-ups) which was a shot in the head for the stock. Richard, I warned you about this in July of last year. You did NOT listen. You were so arrogant and complacent, or at a minimum weak to question Mason/Mano's status quo culture which enriches the insiders, and the careless useless Board doesn't give a damn it seems. They just seem to care about their pay checks and leave it to the status quo to run its course, enrich them, and provide lots of free lunches for everyone, paid by Mason's ATM machine, the shareholders.
And with that debt servicing coming up, you'd be a total fool to imagine Mason can handle it. He's not an out of the box thinker. The only thing he knows how to do to come up with money is to dilute and he doesn't seem to give a sugar if the stock is $10 or $0.02. Dilution is you and his security blanket as long as you have a job. That's how you come across.
So get on with it. Bring meaningful change or step down. It's better to throw in the towel and say the status quo of wastefulness at Fun Science Lab is too big for me to handle, I will let a competent CEO come in, but PLEASE take Mason and Mano's hands with you because in my view, the three of you have been disasters for this company and have created serious issues as result of your IMO incompetent mismanagement that are certainly too big for your skill set and minds to deal with. If any of the three of you have integrity, you would quit now after this disastrous results and absolutely catastrophic corporate culture and cost structure.
I know what a great CEO and CFO and Legal Counsel would do. I had many clients who went through similar challenges (and thus my letter of July 2022 to you based on that experience). I know good management when I see them and you guys ain't it.
Yes the science is great but it does not compensate for incompetent management.
Sad thing is Richard, you have a ton of options. Instead of free lunches, you should think about shareholder value and for a change, start to recognize that your team has been a disaster, and do something about it. Competence matters!
Regards
MISERABLE BOARD AND MANAGEMENT
MISERABLE BOARD AND MANAGEMENT
Great science but the useless, miserable Board/management which has been a total failure in driving company value is now begging for votes so the dysfunctional status quo including their fat packages can continue. Yet another useless wastage of money that they're really good at, e.g. making over a $100,000 donation when the company is losing so much money, because their entire outlook on running a public company is off, moronic, dysfunctional, wrong, as set up by a lousy former CEO who never managed a company to success -- and inherited via a duo of, in my opinion, dorks: the current CFO and Legal Counsel, who were hired by the same lousy former CEO, and Richard Paulson the current loser CEO who's raking in over a million a year for himself, has been a total failure in shaking up that lousy corporate culture that bleeds cash and benefits everybody except the very people who are keeping the lights on for them, i.e., the shareholders. *** VOTE NEGATIVE ON ALL PROXY ITEMS ***
MISERABLE MISMANAGEMENT OF COMPANY VALUE
MISERABLE MISMANAGEMENT OF COMPANY VALUE
Another 100,000 shares dumped on a day when Mike Mano, Mike Mason, Richard Paulson made another at least ~$10,000 in total as shareholder value tanked another 5% due to the miserable, incompetent mismanagement of the company value.
EVEN OUR JOKE OF CEO/CFO/LEGAL COUNSEL...
EVEN OUR JOKE OF CEO/CFO/LEGAL COUNSEL...
Even the gang that can't shoot straight should be able to sell the company at a good price. Or they'll mess that up too ?
“Every single major pharma company is in shopping mode, right,” said John Maraganore, the former CEO of Alnylam Pharmaceuticals who now advises a range of startups and investment groups, in an interview with Endpoints News. “I am generally optimistic that the surge of M&A, which typically catalyzes a lot of bullishness in the biotech market, will ultimately fuel a better second half of the year as inflation comes under better control.”
OVERPAID VALUE-LOSER CLUELESS MANAGEMENT (FAILURES AT BUILDING COMPANY VALUE)
OVERPAID VALUE-LOSER CLUELESS MANAGEMENT (FAILURES AT BUILDING COMPANY VALUE)
The loser management has ruined shareholder value despite great science. Vote NEGATIVE on ALL proxy items. They don't deserve shit, especially they don't deserve the 2700 and 2500 and 4700 a day that Mason, Mano, Paulson get, every work day, for their lousy work we're looking at the result of: company value being in the f'n toilette because this gang can't shoot straight but is paid like they're geniuses. I'm so pissed at these losers and especially Richard Paulson because I warned him about this in July 2022. All that is in my pissed-as-hell opinion.
And in the middle of this share price meltdown you get a moronic post by "Dr." DD that attracts all the flies around the nonsense shit he spewed "dilution coming" type of FUD that shorts love him for, and they piled on with their negative BS. His fan explained it as his way of saying registration is bad. Sure, but that's not dilution, and if he can't tell the difference he should really stick to his science, which he's good at.
RICHARD PAULSON WAS WARNED IN JULY OF 2022 BUT HE DID NOT LISTEN
RICHARD PAULSON WAS WARNED IN JULY OF 2022 BUT HE DID NOT LISTEN
Richard,
In July 2022 I predicted this situation exactly. You got the letter in mail, I have the return receipt. You ignored it. You can't expect turtles to fly. Low caliber people make your team a low quality team which delivers terrible results because it's thinking myopically - people who can't think outside the box or are too complacent with the big income you, Mike, Mike are making (4700, 2700, 2500 a day).
You bring a lion CFO you see what happens. Mike Mason just can't pull it off -- what do you need to believe that? The stock getting delisted? Bankruptcy?! He may be a good accountant but he's sucked as CFO -- and he doesn't seem to give a damn -- he's getting the fat 50k+ checks every month and laughs his way to the bank. I'm not questioning his ethics -- it's about his caliber. There's a reason Michael Kauffman had Ian answer financial questions on calls and not Mason. Mason has practiced but come on, given all these millions you guys have burned through, we can afford a hotshot CFO. And we cannot afford a terrible CFO which is what we have in my opinion based on hard results.
Exact same story with Mano.
You put two strong people in these roles and you'll be surprised. You'll be a year late but whenever you catch the fish it's fresh.
That is assuming you have ethics and are not complacent with your over million a year package which you absolutely do NOT deserve based on your terrible performance.
So clean up your act and put a team together that can perform.
I've explained why your weak sales are also related to your lousy team.
A band is as good as its weakest members. You got two weak players. But you love them because you love the status quo and don't give a damn if the company goes bankrupt as long as you make your millions. That's how it seems unfortunately -- and will not be pretty for you because you don't want that on your resume, especially when you were warned and you didn't listen -- otherwise you'd clean up your act.
You don't take my advice seriously but OBVIOUSLY you have not swum with sharks. I've seen what happened to your gig, to my company, and Sharon's company (forget Greene, Bohlin and the rest of the useless board who have nothing at stake except their fat salaries and undeserved bonuses). I have swum with the same crooks that have your weak useless team for lunch any day. You should have listened. Act now. Bring in a new CFO who is not a tool of a useless, fat, unsustainable, dysfunctional corporate culture that came before you and you were way too weak to change it.
Water doesn't know water. Mike Mason can't change what he is. His fat salary and the fun science club culture and the runaway cost structure is in his fabric. You need a new CFO, new blood, to take this bloody bull by the horns, and you need a new legal counsel for the same reasons.
All the above, in my opinion.
Paulson, Mason, Mano Got It Made With Earning Average $63,000 a month Despite Collapse of Company Value, And Their Total Failure In Driving Shareholder Value
Paulson, Mason, Mano Got It Made With Earning Average $63,000 a month Despite Collapse of Company Value, And Their Total Failure In Driving Shareholder Value
The Fun Science Lab is rewarding insiders handsomely as shareholder value tanks. Now they want authorization to issue more shares so their sweet deal continues. No wonder Mason looks like he doesn't give a damn on investor calls.
In 2022:
§ Richard Paulson's base salary is $670,000 - bonus 452,920. Total: 1122902
§ Mike Mason's salary is $472,000 - bonus 193,048. Total: 665048
§ Mike Mano's base salary is $416,000 - bonus: 184,050. Total: 6000050
Per month earnings:
§ Rich: 83575
§ Mike: 55420
§ Mike Mano: $50004
Per work day earnings:
§ Rich: 4678
§ Mike: 2771
§ Mike Mano: 2500
- Mr. Mason’s accomplishments included his contributions toward managing the Company’s overall finance [which have been a disaster for company value], accounting, reporting, information technology, and investor relations functions [which have been disasters for company value], assuming new responsibility for the Company's procurement function, ensuring a strong internal control environment, managing the relationship with the Company’s audit and tax advisors [which have been disasters for the company value], reducing operating expenses [of a runaway expense train which is still rolling, burning a ton of money, donating over 100,000 to one charity while we lose so much money because of the lame and irresponsible corporate culture when it comes to driving company value as measured by valuation] and the success of our December 2022 private placement [disaster for shareholders, success for insides who make a ton of money even when company values has crashed], which helped to decrease strategic uncertainty and improve the financial position of the Company [blah blah blah]. All the above in my opinion.
- Mr. Mano’s accomplishments included his successful oversight of all aspects of our legal and compliance function [which has been a disaster for company value], including enhancements to our corporate governance [e.g., cover up for huge insider sale by Deepa prior to Siendo data], management of our global intellectual property portfolio [which has been a disaster for company value -- and our lead product is illegally produced and sold all over the place and even advertised in Yahoo while our gang who can't shoot straight is making 50+ grand a month], and his key role in leading contract negotiations, including a new partnership with Foundation Medicine, Inc. for a companion diagnostic utilized in our ongoing endometrial cancer study [which has had zero effect on company value and probably won't as long as the gang that can't shoot straight is running the company]. All the above in my opinion.
VOTE NEGATIVE ON ALL ITEMS AND DON'T LET THIS LOUSY MANAGEMENT TEAM AND USELESS BOARD OF DIRECTORS (measured by their failure to drive shareholder value) RAISE MORE MONEY TO FUND ITS FAT EARNINGS ADVENTURE
Renegotiate?
Renegotiate?
I think you could renegotiate that. And I could. But I really don't see this in Mano, Mason, Paulson who remind me of the 3 Stooges show. They just don't have it in their blood, in my view, and that's one reason they should all resign, or be fired at least in the case of the first two, in my view. They're all rice rice pudding, nice and soft and delicious for short sellers' desert.
Drain The Swamp of Overpaid Under-performed Management of Karyopharm
Drain The Swamp of Overpaid Under-performed Management of Karyopharm
As the stock lost 5% today Richard Paulson made at least $4678, Mike Mason $2771, Mike Mano $2500, and they'll make the same tomorrow and every day regardless of their moronic, inept mismanagement of company value. Why should we pay these guys thousands of dollars each day for such piss poor results, especially Paulson who was explicitly warned about this in July of 2022 and still kept the same low-competence, over-paid people who don't seem to have what it takes to effectively manage company value. Below average people bring below average results.
Any of us could do their job and do just as bad for shareholder value. So why pay these bozos this kind of money when their performance has sucked so bad as measured by company value? They should all be fired. How many people make $4000 a day or even $2500 a day and deliver such terrible results because they apparently suck at what they are chartered to do for shareholders.
Examples of Karyopharm's dysfunctional corporate culture
Examples of Karyopharm's dysfunctional corporate culture
New Letter to Barry Green, the useless chairman of the bloody board which has been a total failure in translating amazing life saving, disease curing science into shareholder value.
Mr. Barry Green
The pictures posted here https://stocktwits.com/symbol/KPTI are just one of many ways the Mike Kauffman wasteful culture burned money and lived it up like it's a billionaire company while it continued through today to lose millions but spending it like a drunken sailor.
Motivation events have a place. I worked in the corporate world for decades. Yes some motivation is fine but this is way overkill, especially when it's not limited to events. Karyopharm's way is about giving giving and giving the corporate money out to charities sponsorships etc. etc. without the competence to translate our wealth of science into shareholder value which is what y'all are paid to do but y'all have seemingly forgotten that when you're too busy running the fun science lab that benefits everybody and their mother except shareholders.
Now you want authorization to issue more shares to continue the lame, incompetent, dysfunctional status quo which has no idea how to achieve results and confuses effort with results. Result is only measures in increase in shareholder value, since we are not a non-profit company -- a hard fact for the feeble management to face.
Mr. Paulson failed to overhaul Dr. Kauffman's dysfunctional corporate culture which was and today still is a disaster for your employers, i.e., us, who pay your salaries and big bonuses. It's basic management theory taught at every MBA school -- in case it's not clear.
While Mr. Mason may be a good bean counter, and a nice guy, he's been a disaster as a CFO. A CFO role is very different than of an Accountant or a Controller. Mr. Mano has been a disaster as a Legal Counsel who always has an excuse for covering up the company's shortcomings, mismanagement, failures, and on his watch shareholder value has tanked beyond compare as the stock has become a perfect punching bag for manipulators.
Successful corporate cultures tighten the belt and are the opposite of Karyopharm's madeness spending spree. The so-called cost cutting is done at Karyopharm to cover up management's screw-up of missing their over-promised goals, while still having an unsustainable cost structure that damages the corporate value but manages to be very profitable for insiders like yourself with your big bonuses and salary for doing nothing that makes any difference to shareholder value.
How many years have you been at this Mr. Green? Your performance is disastrous like the rest of the weak members of the gang that can't shoot straight.
Mr. Paulson has failed shareholders in multiple ways including sustaining the disastrous culture that is the cause of the tanking shareholder value, and has not delivered results, and instead, lots of excuses. With the millions you're burning, you should be able to afford a top CFO, Legal Counsel, and Mr. Paulson needs a wake up call and reminder why he has his job, which is to build shareholder value, instead of endless excuses, and horribly incompetent mode of over promising and under delivering.
Mr. Pauslon was warned about all this plenty ahead of time, and he fell right into the trap because he didn't listen, and was too complacent in expecting a lousy team to deliver great results. Even your top players are hurt by the weak players who are a waste of corporate resources.
All the above, in my opinion, and it's shared with other investors too.
Regards
Wasting shareholder money to desperately solicit votes so inept status quo can go on
Wasting shareholder money to desperately solicit votes so inept status quo can go on
Mr. Barry Green
I can't believe your incompetent team is wasting more shareholder money to hire a company to solicit shareholder vote. Shows the F-grade team knows exactly what it's about and wants authorization to issue more shares so it can continue its disastrous status quo which is destruction of shareholder value in hands of people like Mike Mason, Mike Mano and Richard Paulson, and yourself and the rest of the useless Board of Directors who are just getting richer by your fat salaries and self-granted bonuses, funded by shareholders.
And despite all the millions that you incompetently burn, Richard hasn't managed to put some Ace players in key roles (except Sohanya and Reshma who rock but their lives are made more difficult by the F-players that Mike Kauffman hired -- the modiocre, heads down, in-the-box thinkers who have turned the company into a perfect yoyo for Wall Street, a disastrous IR under Mike Mason, a disastrous finances under Mike Mason, burning money like crazy, with an unsustainable headcount, and the fun science lab culture of which Richard inherited but was clearly too weak to change it.
The incompetence in measured by how you and your team have built (destroyed) shareholder value by the clueless gang that can't shoot straight. I am 100% right if you consider the stock is in $2 range, when your inept gang was talked shareholders into buying the stock over $20/share.
I don't know what it's going to take to grasp that competence matters?!?! and pump some new blood into this incompetent team.
Regards
Big Pharma Just Has To Wait For These Seemingly Fools To Destroy More Shareholder Value
Big Pharma Just Has To Wait For These Seemingly Fools To Destroy More Shareholder Value
Big pharma may just be waiting for this lousy, self-serving, lazy Board and the seemingly moronic CFO, Legal Counsel, CEO to do what they're good at: destruction of shareholder value because they seem clueless about how to build value.
They're really good at diluting and burning through cash. Despite all the cash they spend and give away, this horrible CEO, Richard Paulson, hasn't even managed to assemble a strong executive team!
Rubic
Rubic
Regarding Rubic, they probably sold the shares to their short side of the ledger. That kind of thing was obvious to everybody except the bozos running the company, like Mike Mano and Mike Mason who didn't even bother asking if the PP participants were short or not, because our geniuses don't seem to be able to see beyond the end of their nose and are too happy with their 600k+ package which they absolutely do NOT deserve except at the Fun Science Lab that benefits everyone except shareholders and Richard Paulson is too weak to clean it up - so we need a new CEO too, but I'd start with a new CFO and Legal Counsel. All the above, in my opinion.
GREAT SCIENCE IN INCOMPETENT HANDS OF SOME WHO ARE WASTING MORE SHAREHOLDER MONEY TRYING TO GET VOTES TO SUSTAIN A ROTTEN STATUS QUO
GREAT SCIENCE IN INCOMPETENT HANDS OF SOME WHO ARE WASTING MORE SHAREHOLDER MONEY TRYING TO GET VOTES TO SUSTAIN A ROTTEN STATUS QUO
This lousy CFO, Legal Counsel, CEO, Board of Directors - have proven to be lame-ass, incompetent, useless, clueless - in building shareholder (company) value. The company is wasting more shareholder money by paying Alliance Advisors (Gina Balderas, Operations Manager 877-495-1344) to send letters to some large shareholders to call back, and when we call we get a person trying to convince us to vote with the management! Vote with management? Are you fn' out of your mind? Vote with a management that can't think out of the box; a gang that can't shoot straight; a team that has repeatedly failed to build shareholder value despite GREAT SCIENCE!
This lousy gang have betrayed shareholders time and again as they continues down their incompetent path of total failure to obtain fair value for life saving, disease curing, great medicines, because they suck - and are too incompetent, too arrogant, too comfortable with their fat salaries and bonus and because their entire viewpoint is of a wrong, failed, lousy paradigm and culture built by the last lousy CEO that benefits everybody except shareholders. And now they want shareholder approval to go down the same lousy path. JUST SAY NO.
The paid solicitation clearly shows they're desperate for votes and they should be. The CFO, Legal Counsel, CEO and half of the Board should be fired, in my opinion.
If you've already voted with the management, you can still change your vote to NEGATIVE on all items. If the CEO and Board want to keep their job they need to shake up the useless, money sucking, clueless status quo where some key areas are handled by sub-par, below-average moronic behavior that is absolutely clueless and incompetent about what it takes to build shareholder values. All in my opinion.
The most incompetent, lousy, ineffective, useless board of directors in biotech
The most incompetent, lousy, ineffective, useless board of directors in biotech
In my view, the most incompetent, lousy, ineffective, useless, self serving (giving themselves huge salaries and bonuses without doing diddly that makes difference to company value) Board of Directors of any public company especially biotech, is Karyopharm's Board. Great science in the hands of a lousy Board and Management who are a gang who can't shoot straight. They all should be fired (except Sohayna Cheng and Reshma Rangwala).
Garen Bohlin
Director
Barry E. Greene
Lead Director
Mansoor Raza Mirza, MD
Director
Richard Paulson, MBA
President and Chief Executive Officer
Peter K Honig, MD, MPH
Director
Christy J. Oliger
Director
Deepa R. Pakianathan, PhD
Director
Chen Schor
Director
To top off the lousiest of the board members is Deepa Pakianathan who dumped a lot of shares before first Siendo data came out and Mike Mano tried to sugar coat that in the most unacceptable, stupid way. All the above, in my opinion.
Useless gang of 7 who can't shoot straight. https://www.karyopharm.com/about/board-of-directors/
Mike Mano
Mike Mano
When Mike Mano was hired as Legal Counsel, KPTI stock was around $18. On his watch it's dropped 85%. Well done Mikee! People may not realize what a significant role a Legal Counsel (should) play.
A friend of mine who worked with Mano before and had a lot of KPTI sold his stock when it was a lot higher, citing one reason as Mike being there still -- and I totally understand why, if we look at the history.
SHORT & DISTORT
SHORT & DISTORT
Stephen Ayers is at it again with his shallow, distorted analysis, using outdated, false, debunked notions like toxicity which means he has either not kept up with the news that the side effect profile of selinexor is very well managed and doctors know exactly how to handle it and it even works wonders and even cures on even lower doses. So much for that argument. But it's funny that such articles that trash talk a company based on false information come out just as a stock is piled on by short sellers.
Destruction of Karyopharm's value by incompetent management
Destruction of Karyopharm's value by incompetent management
Mr. Greene -- please forward this to all Board members of Karyopharm.
Karyopharm's science is absolutely great but it's suffered from gross mismanagement. Radical change is urgently needed. I warned Richard Paulson a long time ago, with a registered letter, and predicted exactly what has now happened, about stock price and otherwise. He did not listen because he's too weak to counter the dysfunctional culture that Mike Kauffman built that benefited everybody except shareholders.
Congrats to Mike Mason, Mike Mano, Richard Paulson and the Board for ruining company value with their clueless mismanagement, in my view.
Messrs Mason, Mano and Paulson deserve to be fired. The culture of "fun science club" that Mason and Mano brought forward, which included their apparent terrible mismanagement of their respective areas, is a proven failure, and Richard was too weak and let that lame culture continue.
The Board is just as useless. Let's not forget Deepa cashed out bigtime before Siendo. And two days ago on a strong XBI rally day the stock tanked before the earnings so the culture of leakage is also continuing. I don't see any other solution than draining the swamp that's got us here, which means ousting of Mason and Mano and if he cannot put a high caliber CFO and Legal Counsel in those roles, Paulson should also be fired.
I wish a hedge fund would step in and clear the decks because this management team have shown to be utterly incompetent, unaccountable, irresponsible, and lame -- when it comes to building shareholder value, which is why you all get paid. Exception are Sohanya and Reshma who are top notch but are bogged down by the D- players on this team that Kauffman hired because he was a terrible CEO and weak CEOs don't bring in high caliber people; top notch CEOs bring in people better than themselves.
GET YOUR ACT TOGETHER. YOUR STATUS QUO IS KILLING THE COMPANY. This is not a private enterprise. Mason, you can open your own company and then donate over 100,000 to charity like you guys did at Karyopharm while losing millions. You can organize investor calls and looks as bored as you want and not even bother wearing a business outfit. You can run your IR there and block every investor, and not ever call any investors. You can make all the runway projections you want which is just a joke judging by your history. You can make Mike Mano your Legal Counsel and become a perfect punching bag for Wall Street.
This lame mismanagement of the company has to end. Unfortunately the Board is just as useless, so let's hope for a hedge fund like David Rosen to take over the company. I'd rather sell my shares for dead cheap to a qualified management team than to see it burn to ashes by the incompetence of the current team, the gang that can't shoot straight and has been destroying shareholder value, and can't think out of the box, and is like rice pudding.
Another 150,000 shares dumped today, on a day when short selling is disallowed, after a huge drop yesterday because Mike Mason can't get his act together with the guidance (there's always an excuse, right), and Richard Paulson is too weak of a CEO, and with Mike Mano they constitute the gang that can't shoot straight, in my opinion (not Mike and Mike were hired by Mike Kauffman and unfortunately kept by Richard).
WRONG PARADIGM MASON, MANO, PAULSON OPERATING IN
WRONG PARADIGM MASON, MANO, PAULSON OPERATING IN
This is NOT your private club people. Richard, Mike, Mike, Garen, Barry: you've been a disaster for the company. D I S A S T E R. Just look at the change in company value since Mason, Mano and Paulson were hired. The sick culture that Kauffman built which Mano and Mason were a part of and have given it continuity and it has infested the company culture today has a key element: NO ACCOUNTABILITY.
Mike Mason: by the way, stop that nonsense about "we have enough money till..." You guys have diluted the hell out of the shares despite all that blah blah because you don't know how to build shareholder value. You have a totally wrong, selfish, clueless mindset that you can keep spending, raising money, and applying the same incompetent ineffective ways of running the business which has led to destruction of shareholder value.
And part of that irresponsible lack of accountability is you always have excuses.
Richard you're the biggest failure of this gang who can't shoot straight. You were specifically warned about what's to come and very specifically about not over promising and under-delivering. But you did just that, again and again but it's fine for you because there's no accountability. The useless Board gets their fat salaries and fat bonuses anyway, and Mano and Mason give you comfort that this lame management style is acceptable.
If you guys had any integrity, given your performance, you would quit. ANY accountant can do a better job than Mason let alone a top notch professional CFO who is more than a bean-counter and can think strategically, and feels responsible to shareholders, and has good communication skills, and is careful not to burn cash by giving it away like Mason/Paulson have done when the company is bleeding millions.
The justification is always excuses. That's the modus operandi of terrible management who continues to collect fat salaries, and when sugar hits the fan they bring excuses.
Good management is about performing and not bringing excuses, and feeling accountable, and not forgetting that this is not a private club, that you were hire to build shareholder value. That's a strange mindset for some of you I bet because it suddenly means thinking strategically, holistically, shrewdly, considering all the factors and currents which are probably just Greek to Mano and Mason and Paulson who's proven to be a disaster of a CEO.
Remember: effort is not results.
WHAT TO DO NOW:
MIKE MASON, MIKE MANO SHOULD QUIT IMMEDIATELY.
RICHARD PAULSON:
1) bring a seasoned CFO who can think outside the box, who has above average communication skills, who is going to live and breathe driving shareholder value.
2) bring a legal counsel who can think outside the box, and has the vision, courage, determination to stand up for the company. Under Mano, the company has turned into a perfect punching bag, coupled with terrible performance of Mason, who's been a gift to shareholders, thanks to the disaster CEO Kauffman who hired the two of them.
It's indisputable that the company culture is sick -- it's been sick since Kauffman days -- just plot the change in shareholder value. It's about mentality, culture -- you have the wrong culture. Everyday that Mason comes (or doesn't) come to work, the way he goes about it is wrong, in my opinion; he's operating in the wrong paradigm -- same with Mano and now Paulson.
The right paradigm is so foreign to they way you've been operating, and your talent and skill set that it's like trying to tell a turtle to fly. Therefore, there's no possibility of reform of this team in my view -- we need new blood.
Richard, I warned you of this a long time ago -- you totally failed despite the warnings. As the Persian saying goes, whenever you catch the fish it's fresh.
Great Science but Wall Street is Fed Up With This Lame-ass Management
Great Science but Wall Street is Fed Up With This Lame-ass Management
The science is solid. The stock over reaction is manipulated but it's a clear statement that this management team is lame-ass, bozos, the gang that can't shoot straight. Great science in hands of terrible management and Board - except their CMO and CCO who are hotshots but their terrible CFO, Legal Counsel and CEO have ruined it, in my view. It's the lame-ass culture of Mike Kauffman that Mike Mano and Mike Mason have continued and Paulson was too weak to change. That's all there is to it, in my view.
Can you imagine Mike Mason or Mike Mano being in negotiations with Big Pharma? Even Richard Paulson is way too weak for getting a good deal. They're rice puddings. I hope someone from that useless Board knows how to negotiate and I hope some hedge fund takes over the Board and fire the management.
CFO Mike Mason Speaks
CFO Mike Mason Speaks
CFO Mike Mason started his talk sounding like a robot saying 'I HOPE EVERYONE IS HAVING A GREAT MORNING' -- which planet are you in Mike? After that lousy report, after the company lost millions, after you gave over a 100,000 of our money to charity, after the per-market action clearly showed the stock was set to drop big at the open and it has - it's down 25% but you sound like you don't give a shit about any of this. Great morning will be when you decide to spare us of your bean counting skills and get another job and quit.
~~~
Mike Kauffman used to not let Mike Mason speak. Financial questions were turned over to Ian! Mike Mason may be a good bean counter, good accountant, but as CFO he's been a mega failure, in my view.
MIKE MANO AND MIKE MASON SHOULD QUIT
MIKE MANO AND MIKE MASON SHOULD QUIT
Congratulations Mike, Mike. There's always an excuse isn't there?! when the gang can't shoot straight.
Isn't it time to quit ??
What's it going to take for you to realize your role in this disaster and take your skills somewhere else? Spare us, please !!!
Another 20% haircut because of one thing and only one thing: MISMANAGEMENT -- THE GANG WHO CAN'T SHOOT STRAIGHT (except Sohanya and Reshma).
KPTI needs a better CFO, Legal Counsel
KPTI needs a better CFO, Legal Counsel
There are more reasons why CFO Mike Mason should get fired, in my view, than donating over $100,000 when the company is losing money. This apparently sick approach has become part of the company's wasteful culture. Everything and everybody first and shareholders last. I view it as more than shortage of competence. Its symptoms can also be seen in how the CFO handles some investor/analyst events, how he's mishandled IR in my view (IR reports into him) and the generally third-tier approach. Kauffman being a lousy CEO hired people who were inferior to him in terms of strength and aptitude. Nothing against the CFO personally but given all the money KPTI burns they can afford a top notch CFO. Ours is not. And it's the same story with Mike Mano, the Legal Counsel. Let's put some top people in these posts and the company will rock. The legal and financial aspects effect everything, but Richard Paulson doesn't seem to get that. For more info on this topic see https://www.rezamusic.com/various/kpti
FIRE THE CFO
FIRE THE CFO
In my opinion CFO Mike Mason should be fired for such a high burn rate, and wasting shareholder money by making crazy donations e.g. over $100,000 to charity while the company is losing money. The CFO is responsible for this lame-ass culture that Mike Kauffman (last lousy CEO / great doctor/scientist) built with a horrible CFO he hired that's continuing that irresponsible, lame-ass culture at shareholder cost. Richard Paulson is not much better -- the buck stops at the top. The Legal Counsel should also go given the horrible performance. All in my opinion.
M. Mason wasted another minimum $100,000 because of the sick M. Kauffman culture that R. Paulson Did Not Cure
M. Mason wasted another minimum $100,000 because of the sick M. Kauffman culture that R. Paulson Did Not Cure
Fire CFO Mike Mason. A company that's losing money should not be donating in excess of $100,000. This is exactly a symptom of the sick Kauffman culture which views money as infinite an feels entitled to endless funding by shareholders, then spend it like crazy and benefit everybody except shareholders. This CFO, CEO, LC, Board do not have the judgment, values, mindset towards responsible management of money, in my view, except to secure their own salaries and fat bonuses. Shareholder value has tanked over the years because of the same ineffective, low-caliber management Kauffman hired that Paulson never had the guts and resolve to replace with high caliber people. So same people doing the same thing means sharheolder value erosion. I'm so pissed at this company continuing to act like a charity, a fun science lab, and burning through shareholder funds so irresponsibly. Mason, Mano and the entire board should quit, and the company will be better off without such excess fat.
Mike Mason / Richard Paulson's Expense Machine
Mike Mason / Richard Paulson's Expense Machine
I don't know what you guys are thinking burning through cash like that. I know Mike Kauffman / Mano / Mason's fun science lab loved to spend money, thinking it can always try to schmooze shareholders for more cash before it turns its back on them again. Richard brought changes but was too weak to cut into the root of the that problem mentality, that everyone benefits except shareholders -- it's inflow for everyone except outflow for shareholders.
So you just burnt another minimum $100,000 (Centurion Sponsor). How about spending that money to attract a top notch CFO who knows how to build shareholder value?
Think of those who bought your story when the stock was in the 20's. Bagholders who got sucked into a management who doesn't grasp simple equations like what constitutes shareholder value. If it did, it wouldn't be throwing away money that it's not making. It's utmost arrogant and irresponsible to spend at the rate Mike Mason is spending. But the buck stops at the top, and this is all Richard's problem who never had the courage to rattle the dysfunctional aspects of the culture he inherited -- so the same people doing the same things, and shareholder value has tanked as a result.
Response to Mike Mano's Email About Chinese Infringement of Karyopharm's Patent Rights
Response to Mike Mano's Email About Chinese Infringement of Karyopharm's Patent Rights
Michael
I am not stupid to take legal action based on Karyopharm's IP rights. I'm not the patent owner, and I never claimed to be. And I didn't say I want to take legal action against the infringer.
I am in correspondence with them and I receive new enlightening information that shows how much you guys are not doing your job. It's always someone else's problem when you don't mind being a punching bag and mix effort with results. Think of the institutions who bought your story when the stock was in the 20's. Your performance and demolition of shareholder value has been a disgrace and I view it as nothing but competence. Competence matters.
Ok I'm happy to hear you have IP lawyers but when they're not doing anything about it, their existence is as irrelevant as some other parties at Karyopharm!
"you are not authorized to speak, or act in any way, for or on behalf of Karyopharm"
Did I ever say I act as Karyopharm's representative? Are you worried that the infringer might get upset?! I know, that's what happens when our legal department is as strong as rice pudding!
I speak and act as myself and our investor team who are equally fed up with the lack of sufficient competence in our financial and legal dealings. A runaway expense train, and a perfect punching bag for shorts, is what you guys are about. And you mix effort with results. Your outlook on shareholders is a disgrace by itself. I can't believe Richard is a beneficiary holder or some 800k shares and has continued the Kauffman fun science lab that benefits everybody except shareholders. That's a fact as judged by destruction of shareholder value on your watches.
That what you know how to do: raise money and spend money, and when you need money go to shareholders otherwise give them a flip. How many shareholders has Mike Mason who is the top of the IR chain has ever called?
And you have the nerve to want to double the authorized number of shares.
Our sales should be much higher but you guys don't have the guts to go after systematic disparagement of our science because you're too weak.
Your very response to my question shows how clueless the company's legal side is being run on your watch. You're a nice guy - nothing against you personally, but you're not the right man for this job, in my view. Your track record speaks for itself. Look for a job somewhere else. And look for a job for Mike Mason too. We are fed up with funding this company and seeing so much money spent, and people in key roles who are just not adequate for where Karyopharm is.
"In particular, I am instructing you"
You have no right to instruct me of anything. You're not my instructor. You work for me and other shareholders, and not the other way around -- in case you've forgotten!
"not to make any claims, statements, representations or threats referencing or based on our intellectual property."
Hold your horses man -- first off, I didn't say I would make any CLAIMS related to Karyopharm's IP. I have 3 university degrees with high honors and decades of professional experience including high level management consulting and leadership role at the World Intellectual Property Organization -- so you don't need to instruct me about IP.
Secondly, I am totally free to make statements about any IP. Let me help you understand: You're a Beatles fan. You see a guy selling bootleg Beatles records. You have every right to object.
Of course I wasn't going to do it without sufficient information and I asked for a call buy as it's customary (with exception) shareholders are ignored. Instead I get this clueless email from you.
"risks confusion and could have legal implications that may adversely impact our business."
You don't know what I want or can do anyway - you imagined it to be legal action / threat but I never said that and never intended that because I'm not the IP owner!
Confusing who? the infringer -- you're so worried about the infringers being upset?
Our product, our bread and butter is being advertised globally and sold that hurts my pocket book directly as a shareholder and you're worried about the infringer being confused?!
"We have expert IP counsel and will vigorously defend our IP rights where necessary"
That's it -- key word "where necessary"
Let me guess, you don't deem it necessary in this case because it takes action and you guys are not into acting to defend the company but just raising money and spending and not even supporting the great sales management by standing up for the company.
USELESS is how I characterize it.
Time for a new job Mike, and take Mike Mason's hand with you. If you can arrange to keep some of your shares you'll be better off to let this company out of your inadequate management and in hands of people who know how to build shareholder value.
Just in my opinion.
Regards
~~~
Fact that it is being sold ex-USA - which makes it a Karyopharm problem unless their contract, e.g., with Antengene obliges Antengene to defend Karyopharm's IP globally in China -- I doubt it -- but even if that's the case, these guys can be pounding on the table instead of I guess, being a rice pudding.
INFRINGEMENT OF SELINEXOR PATENT IN LIGHT OF KARYOPHARM'S WEAK LEGAL MANAGEMENT
INFRINGEMENT OF SELINEXOR PATENT IN LIGHT OF KARYOPHARM'S WEAK LEGAL MANAGEMENT
A blunt advertising on YouTube for bootleg Selinexor. I wrote to the company (as usual such patent criminals are Chinese companies) and even received a price quote. I've seen this done with companies whose legal counsel is like yogurt - or rice pudding - as said in Persian. Mike Mano is no different in my opinion based on the past.
I informed the company who didn't know about it. I'm not confident Richard Paulson's rice pudding legal team can curtain this gross infringement of our IP and loss of revenue.
Watch Mike Mano bring excuses: it's not our territory blah blah -- typical responses a weak Legal Counsel would give. It IS your territory when it's sold worldwide. I have a price quote in my hands, and I don't live in China hello!
FROM 200,000,000 TO 400,000,000 -- WHAT THE FLOCK ARE MIKE MASON / RICHARD PAULSON / THE USELESS BOARD OF DIRECTORS THINKING??
FROM 200,000,000 TO 400,000,000 -- WHAT THE FLOCK ARE MIKE MASON / RICHARD PAULSON / THE USELESS BOARD OF DIRECTORS THINKING??
https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=317378380&type=HTML&symbol=KPTI&companyName=Karyopharm+Therapeutics+Inc.&formType=PRE+14A&dateFiled=2023-03-31
They've diluted the hell out of shareholders already, screwed up financial and legal management of the company because of a weak CFO, CEO, Legal Counsel, and they want authorization to DOUBLE the number of authorized shares to 400,000,000. NO IS THE ANSWER. VOTE: "WITHHOLD".
VOTE "WITHHOLD" TO ALL PROPOSALS. THIS USELESS BOARD OF DIRECTORS DON'T DESERVE A SINGLE DIME OR SHARE. THEY KEEP GIVING THEMSELVES FAT SALARIES AND BONUSES DESPITE DEMOLITION OF SHAREHOLDER VALUE UNDER THEIR INCOMPETENT MISMANAGEMENT OF THE COMPANY.
ESPECIALLY VOTE WITHHOLD TO GET RID OF THAT TERRIBLE BOARD MEMBER DEEPIKA PAKIANATHAN WHO SUCKED BLOOOD OUT OF THE SHARES PRIOR TO SIENDO.
AND VOTE WITHHOLD TO RICHARD PAULSON WHOSE CLUELESS MANAGEMENT HAS DAMAGED SHAREHOLDER VALUE. HE HAS FAILED TO BUILD SHARHEOLDER VALUE WHICH IS WHAT HE'S GETTING PAID TO DO, AND INSTEAD CONTINUED THE LAST USELESS CEO MICHAEL KAUFFMAN'S FUN SCIENCE LAB MENTALITY AND WITH THE SAME INADEQUATE CFO MIKE MASON WHO'S SPENDING MONEY LIKE CRAZY AND RAISING MONEY LIKE CRAZY, AND THE WEAK LEGAL COUNSEL MIKE MANO -- TOGETHER THEY COMPRISE THE GANG THAT CAN'T SHOOT STRAIGHT.
THE SCIENCE IS SPECTACULAR -- IN HANDS OF THIS CLUELESS GANG.
SOHANYA CHANG AND RESHMA RANGWALA ROCK. GIVE THEM A TOP NOTCH CEO, CFO AND LEGAL COUNSEL AND THEY COMPANY WILL ROCK.
Last year we almost managed to get enough WITHHOLD votes to stop the dilution.
Karyopharm needs a new CFO AND CEO AND LEGAL COUNSEL who understand how to build shareholder value, and standing up for the company, instead of diluting the hell out of the shareholders. If they company had better CEO, CFO, Legal Counsel they would fight back against disparagement and infringement which effect our bottom line, instead of being perfect punching bags.
Mike Mason whose diluted the hell out of our shares. Mason and Mano should resign. They're F-players in my view, brought in by D-level CEO Mike Kauffman and CEO Richard Paulson was too weak to change the status quo. So the dilution and spending machine has continued.
This Kauffman's corporate culture I call "fun science lab" views itself as entitled to shareholder money indefinitely. It gave investors a bunch of incompetent lines and empty promises that investors fell for when the stock was in 20's before it headed to 2's -- 10 times lower !! That's the management team for you. And the same gang is still in charge because Richard Paulson didn't have the insight to see the issue and solve it. So the squeaking wheel continues and drags the company down. Now they want to double the number of shares.
The scientific side is solid - that's why I've held on. Sales management is solid, but the crooks / short hedge funds have hurt the sales while the financial / legal gang couldn't figure out how to shoot straight. Result is clear: demolition of shareholder value. This has to change. And it starts with the useless Board of Directors. We are now in touch with some large funds who may step in as activist investors to help us drain the swamp.
Online Shareholder Meeting! Give Me A Break! The Pandemic Is Over!
Online Shareholder Meeting! Give Me A Break! The Pandemic Is Over!
Online shareholder meeting is the most boring and ineffective and useless call ever because they run through things super fast just to satisfy the requirements and they say nothing new ever so there's no benefit to anybody ever attending the online shareholder meeting in my opinion. On the other hand the in person meeting is a world of difference because you get to see the management, you get to talk with them, you get to meet other shareholders, and often we have lunch together or dinner the night before and that is really nice for building connections related to the company. The only reason they're continuing online after covid is because they are chickens. That's all there is to it. They don't like accountability. They like to keep giving themselves big salaries and bonuses despite their performance in building shareholder value.
Management Are Chicken!
Management Are Chicken!
Hello!! The pandemic is over. Why is Stockholder Annual Meeting virtual ?! For decades shareholders had the opportunity to meet the management. Now the excuse is greater excess. Reality is management doesn't want to meet shareholders because shareholders are just ATM machines to raise money and spend like crazy. That was the M. Kaufmann culture that's still prevalent. And management doesn't want shareholders meeting shareholders. Get real folks. This is totally unacceptable. What are you hiding from?
Incompetent Board
Incompetent Board
Karyopharm CEO, CFO, Legal Counsel, Board of Directors have no clue how to build company value, as judged by their record of destroying stock price over 95% since Paulson took office, and they need lots of money to pay themselves fat salaries, and keep delaying things for one reason or other, always have excuses, and feel no sense of urgency because they don't feel accountable, and don't give a sugar about shareholders because of the dysfunctional false paradigm that they're privileged, entitled to endless shareholder funds - they dilute. And they feed their faces with free catered daily lunches, paid by shareholders. Any CEO and CFO who signs a $250,000 or #300,000 donation check, which these guys have done, should get fired if the Board has any sense of ethics and responsibility to why it's there: drive shareholder value.
STOCK DOWN 99% BECAUSE OF THIS PISS POOR MANAGEMENT BY RICHARD PAULSON AND THE USELESS IRRESPONSIBLE BOARD LED BY BARRY GREENE WHO HAVE ALL BEEN A DISGRACE TO SHAREHOLDERS AND THEIR OWN MANDATE TO CREATE VALUE !!
BARRY GREENE
BARRY GREENE
Chairman BARRY EVAN GREENE (61) Barryge@gmail.com
BARRY EVAN GREENE fact sheet verification & URGENT NEED TO ACT TO SAVE KARYOPHARM TODAY!
MR. GREENE, Please verify the fact sheet below and inform us if there are any errors. We will hold each and every Board member personally liable if urgent action is not taken to save Karyopharm. Several investors have been warning you for almost 4 years but you continued to neglect your responsibilities and duties which has resulted in the almost collapse of Karyopharm to the benefit of Wall Street crooks. Every expert contends it's impossible to save Karyopharm without first firing Richard Paulson who is at the heart of this mess, due to your breach of your duties.
Firing Paulson should be done immediately, today, followed by drastic cost cutting. If you can't find a CEO immediately take Brendan Strong who's still not corrupted by the wasteful status quo and has a Harvard MBA, to take the knife and dismantle the vacation club, institute stringent austerity measures including salary freeze, hiring freeze, across the board cut in every department, firing of Mike Mano (Nancy Smith can handle all the little things he does), Lisa DiPaolo (she can take her vacation club with her) - you have a bloated HR department anyway; travel freeze, expense freeze, and ideally y'all take a salary cut; demand employees show up to office - every study shows it's more productive than your: work from anywhere if you feel like it even with your dog on your lap; a significant staff reduction in all non-essential departments, and STOP giving donations, and stop the internship program, and stop all non-essential employee benefits such as endless events, paid volunteering leave, 4.5 day work week, daily catered free lunches, etc. Any employee who doesn't like it can leave - it can't hurt us more than what Paulson has done to us already, and pain of destruction.
This is how you can save Karyopharm and your own future. We've paid you almost 3 million dollars Barry and you've destroyed the stock by 99%. Isn't it time to get active?! Your goal should be to get rid of Paulson and Mano - and immediately reduce expenses by 10 million a quarter which absolutely can be done and is what it takes to save Karyopharm. It for sure cannot be done if Paulson hangs around. He will sink this ship before your eyes and laughs it off.
Time is of the essence. The house is on fire. The longer you wait the more your liability. If Karyopharm collapses, your reputation, career and finances will collapse with it (you will get sued by many investors who'll get everything you have given the scale of the asset and value destruction by Richard with your blessing, and egregious breach of all Directors' legal, ethical, moral, and professional duties.
GAREN BOHLIN
GAREN BOHLIN
GAREN G. BOHLIN (77) Ggbohlin@gmail.com
Garen Bohlin fact sheet verification & URGENT NEED TO ACT TO SAVE KARYOPHARM *TODAY*
Dear Mr. Bohlin
Please see the slide below and let us know if any of the information on it is incorrect. This slide is produced as part of our institutional outreach, and for shareholders who may want to take legal action against you. You and other Karyopharm directors are liable for Richard Paulson's gross mismanagement and destruction of company assets and value, and you can and will be held accountable through one or more of the following: a derivative lawsuit, a class-action lawsuit, a personal liability civil action against each Director, given the gravity of asset wastage, value destruction, bad business decisions, etc., and your alleged gross breach of multiple fiduciary duties, to the point that Karyopharm is in an existential threat, is in an utter financial mess despite having over $100mm in revenue, still has an unsustainable cost structure (as an accountant you should know that), and you're still going about it in the same manner as the last many years, which has led to this catastrophic juncture: a modus operandi which short of a miracle is almost guaranteed to result in the collapse of the company as we know it, and with it, your reputation and finances.
You've been warned for 4+ years, which you have ignored and continued the breach of your duties and mandate. The last straw is about to break the camel's back and be catastrophic for shareholders who have compensated the Board ~$15mm, and painstakingly tolerated a 99% drop in KPTI value on your watch. We will hold you accountable if you don't urgently act to bring a fundamental change in the way the company is run, which absolutely requires firing of Richard Paulson and implementing an extremely urgent and drastic cost cutting measures, immediately. This is extremely urgent and cannot wait for tomorrow.
MANSOOR RAZA MIRZA (64) Mansoor.Raza.Mirza@regionh.dk
MANSOOR RAZA MIRZA (64) Mansoor.Raza.Mirza@regionh.dk
Education: M.D. Surgery, Clinical Oncology
Lives in Copenhagen, Denmark
Works at the oncology department of Rigshospitalet in Copenhagen, Section 5073, Rigshospitalet, Blegdamsvej 9, 2100 Copenhagen Ø Phone: +45 35 45 89 23
Karyopharm Director since 2010 (15 years)
Total yearly compensation at Karyopharm (Source: DEF 14A)
2023: 208,330 2022: 242,493 2021: 292,445 2020: 349,284
2019: 196,774 2018: 367,592 2017: 283,225 2016: 308,502
2015: 479,498 2014: 660,620 2013: 610,310
Total compensation as Karyopharm Director and consultant from 2013 to 2023 (excluding 2010 to 2013): $3,999,073
Estimated total compensation incl. 2025 (ex. 2010-2013): $4,300,000
KPTI drop on his watch: 99%
Mansoor Raza Mirza fact sheet verification & URGENT NEED TO ACT TO SAVE KARYOPHARM *TODAY*
Dear Dr. Mirza
Please see the fact sheet about you below and let us know if there are any inaccuracies.
Needless to say we respect you highly as a highly qualified medical doctor. However, as a Director you've let Karyopharm shareholders down by apparently breaching your fiduciary duties. You've been a Director for the company longer than all other directors. We have no history of your compensation from 2010 to 2013, but the table below shows your compensation since 2013 which totals to about $4,300,000.
During that time KPTI has been decimated by 99%. It has been us shareholders who've funded your income, and in return, our wealth has been destroyed, in particular in the last 4 years under the disastrous mismanagement of Richard Paulson who seems to think the money you gave him a carte blanch for, apparently with no oversight, is his to splurge, with no sense of fiduciary about the impact of wasting of our assets on the bottom line, financial picture, earnings per share, and other financial metrics used by investors to valuate the company.
Furthermore, Paulson's disastrous mismanagement has deterred investor demand which is the most important factor in company worth. The reckless, irresponsible spending, a wasteful culture, a weak prior CFO and current General Counsel, made this gang a perfect toy for Wall Street sharks who run circles around them. The value destroyer gang has been operating with its head in the sand, ignoring the very entities who've been on a relentless mission to destroy the company (look at the history of short interest) in order to help with short position, and in order to take ownership of the company away from the hands of current shareholder base who've paid you millions of dollars, and funded the operation for years and still.
Richard Paulson has been a dream come true CEO for the enemies, and again, to make the matter worse, his ineffective team just ignored those powers, while it continued to spend like a drunken sailor, milked the hell out of the stock, and when that dried up got engaged in toxic financing, but still didn't cure its spending disease. Even after engaging in toxic financing and the stock being under a $1 (pre-RSS level -- currently it's $0.27 - a drop of over %99 on your watch), Paulson continued to give 6-figure donations despite millions in losses and having destroyed a billion dollars in value, still running the company like a vacation club, and no apparent sense of fiduciary, or any sense of responsibility that he was hired to create value. That mandate seems completely lost in the organization you've been directing for 15 years Dr. Mirza.
There's a lot of things for you to ponder, and do so quickly because this ship is about to sink if you don't act, and that will not have a good impact on your career as a Director, your reputation and your finances, because you can and will be held liable, no matter what Mike Mano may tell you - he's a very weak lawyer in our view, based on his performance and facts we have - and he's one of the top beneficiaries of this rotten status quo which has decimated KPTI.
Immediate actions you could consider:
1) Fire Richard Paulson immediately. He is and has been extremely toxic for the stock, so toxic even Selinexor can't cure it! He needs to be fired urgently.
2) Consider resigning as a Director. It looks like a joke (and tragedy for investors) for a company this size to have 9 Directors. As yourself an honest question: what have you done for the company as a Director that has had any value other than the consulting you provided which you were compensated for separately (included in the figures herein). We guess the answer is "not much". So spare us Dr. Mirza. You are rolling in millions. And your directorship has resulted in decimation of KPTI. Spare us. Continuation as a consultant may be mutually beneficial.
3) And other recommendations as made below in relevant letters to your co-Directors so far.
Many thanks for your understanding and cooperation.
Regards,
A Karyopharm Activist Investor Group
Attached:
- Fact Sheet on Dr. Mirza
- Related letters to other Directors so far
MIKE MANO, RICHARD PAULSON, BARRY GREENE, ET AL.
MIKE MANO, RICHARD PAULSON, BARRY GREENE, ET AL.
After years of incompetently and cowardly ignoring the short&distort gang, Mike Mano seems busy trying to figure out how to fight shareholders who demand accountability - the owners of the company who've seen this incompetent gang destroy a billion dollars of our assets by irresponsible mismanagement, lack of financial discipline, living it up, giving it away, wasting it, while handing us delay after delay, and prolonging their lucrative gigs that pays them millions despite their miserable "performance" (shxx show is a better characterization) with the stock down 99% to $0.25 (preRS).
Shorts just upped the ante by 3.6 million shares (preRS) shouting again how much they love Richard Paulson, Mike Mano, Barry Greene, and the rest of the lazy, irresponsible Board who have paid themselves millions while destroying our assets. Nine people on the Board of a company that they have debilitated but they want more. None of them seem to have the integrity to say “I’ll step down”, or at a minimum start performing their duties, which starts with firing the miserable CEO Richard Paulson who’s responsible for this shxx show. You don’t seem to have the integrity to do that either because the status quo is too lucrative for yourselves. A new competent CEO would not want the burden of a lazy, useless 9-person Board that’s costing us a ton of money. You seem to have forgotten that you work for shareholders. You WILL be held accountable because you are legally responsible, accountable to your mandate and liable for gross failures of your duties which appears to be the case.
Does Paulson Even Care About The Share Price & Shareholders?
Does Paulson Even Care About The Share Price & Shareholders?
Part of the pain of being in KPTI is lack of confidence that Richard Paulson even gives a damn about the share price. He never has, else he wouldn't waste assets. And he's never had a sense of urgency. Combine that with no track record in turnaround or managing distressed companies. Bad fit from a competence standpoint. Questionable motivation. Pulling off a miracle requires tremendous change from multiple angles which is unlikely, and running a business based on hope for a miracle is not prudent. Pathetic results so far combined with no apparent sense of responsibility, caring, remorse, urgency, having been paid over $5,000,000 while destroying 99% of Karyopharm's value, and running the company like a charity, a vacation club, while ignoring parties who want to see the company destroyed as though they don't exist (and therefore not considering them into your action plan because you're so incompetent for dealing with that challenge).
What kind of Board of Directors would ever tolerate that Mr. Greene? Only one which is just as bad as the CEO and enjoys the same benefits of getting paid big bucks no matter what the valuation, no sense of accountability, Wild West shameless destruction of value with mismanagement and no sense of fiduciary duties, a dysfunctional rotten culture that just benefits the insiders at the cost of shareholders (which even gives away 6-figure donations while losing millions, etc.). That's how y'all come across. That's the pain of being a Karyopharm shareholder: the breach of fiduciary duties, the irresponsibility of the CEO and the Board.
Paulson was on the Board before so he knows how apparently useless and passive they are - thus, his carte blanche to have a field 4-years with our assets, with apparently neither the motivation nor the competence to create value, which was what he was hired to do. Wake up Board or you'll pay the price when you're held accountable for breaching your fiduciary duties as facts suggest, and that includes in corporate litigation, and, personal liability litigation.
Paulson Is A Curse For Karyopharm, In Our View
Paulson Is A Curse For Karyopharm, In Our View
Paulson has consistently let shareholders down to the point that some investors think he destroyed the stock intentionally. What kind of a fool would do such foolish, irresponsible mismanagement of assets with no foresight about the devastating consequences of bad decisions, wastage of assets, having no sense of fiduciary, no sense of austerity? What kind of a fool would consistently over-promise and shamelessly under-deliver without any sense of remorse or responsibility always dishing out excuses and non-results? And what kind of a foolish board would endorse such a CEO with such despicable value destruction track record? Or are these not fools are have robbed us off our wealth for an ulterior agenda, whether to serve themselves or other entitles? We don't know the answer but year after year, and the stock losing two digits, and over a billion in value lost, is not excusable. There is something creepy wrong about this picture, but Wild West is long over and justice will be served. Firing Paulson is the most urgent immediate task if the Board is not compromised.
They know the mess they've created by their mismanagement, asset wastage, lack of financial discipline, a delusional, unsustainable paradigm led by Richard Paulson that has been devastating for shareholders as he's gotten over $5 million richer. And they still pay themselves handsomely no matter what, so it appears they don't give a damn what happens to the share price, which of course would be a breach of their fiduciary duties. It's a rotten situation that is not sustainable. Any expert management consultant would say firing Richard Paulson is a prerequisite for any solution, in this situation. It's a no-brainer. The Board has gotten too used to doing nothing except collecting a pay check. That also needs to change.
Conflict of Interest
Conflict of Interest
A conflict of interest occurs when your personal interest interferes with the interests of the company. In our view Paulson has a conflict of interest - and so the Board. Their conflict of interest is personal interest of being lazy and not doing anything that's created value vs. their mandate to create value. It might even be more than that given the degree of value destruction they engaged in: 99% on several of their watches.
"Our VoicesKary Ethics Hotline (karyopharm.ethicspoint.com or 844-654-6529) Guarding Against Fraud, Waste, and Abuse"
Are you Kidding ?!? Guarding against waste while the corporate "culture" appears very wasteful, and that's a key reason the stock has been destroyed by 99% suckers!
Volunteer Time [at Shareholder Cost]
Volunteer Time [at Shareholder Cost]
Kevin Stephenson wrote: "A great time for a great cause!! I was very happy to volunteer my time for this!"
Did you volunteer your time on the weekend? Otherwise, you didn't volunteer your time. You got paid for your time, by shareholder funds in a company where the CEO doesn't seem to have a conception for productivity and driving bottom line and meaningful cost savings. That's how he made the stock crash 97%.
Stephanie Stetson wrote: "It was so much fun being creative for a great cause!"
Ya fun never ends at KaryoFUN vacation club does it? The greater cause is for your boss to live up to his mandate to create shareholder value, but being so incompetent in that and that concept being so contrary to what appears to be running like a charitable foundation that sort of pretends to be a for-profit company, he's continued to destroy company value.
Karyopharm CARES [at Shareholder Cost]
Karyopharm CARES [at Shareholder Cost]
"Karyopharm CARES" except for people who fund the whole operation and have been betrayed and thrown under the bus because Richard Paulson is so incredibly inept in driving company value which was what he was hired to do, and the Board that is supposed to oversee him are asleep at the wheel and too content with their fat undeserved salaries to disrupt the status quo that's very profitable for insiders but a disaster for shareholders. Forgetting accountability doesn't make it go away!
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