debt_leverage_profile
-0.58x Total Debt / Equity (Negative equity)
High
SEC-XBRL
interest_rate_sensitivity
Moderate sensitivity; ~$225M convertible notes at fixed rates limit floating-rate exposure, but refinancing risk rises if rates stay elevated
Inferred
Agent_Inference
geopolitical_supply_exposure
Low intensity; China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Single-source API manufacturing in India (selinexor synthesis) and European CDMO dependence for finished dose formulation
Inferred
Agent_Inference
international_expansion_readiness
Limited ex-US revenue (~15%); EUR and GBP devaluation vs USD poses modest headwind; no significant EM currency exposure currently
Inferred
Agent_Inference
geographic_footprint
Primary markets: EU (EUR), UK (GBP), Canada (CAD); combined FX exposure modest given US-centric revenue; EUR most material at ~8% of revenue
Inferred
Agent_Inference
commodity_exposure_profile
Low intensity; commodities: Active Pharmaceutical Ingredients, Rare Earth Elements, Natural Gas (energy), Plastics/Resins, Ethanol, Packaging Materials; geopolitical: China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Yes; Bachem and single-source CDMOs supply selinexor API with no qualified backup manufacturer disclosed, representing non-substitutable critical input
Inferred
Agent_Inference
business_model_type_primary
Specialty pharma; cloud disruption would impair commercial analytics and EHR integrations but not product manufacturing or core revenue generation
Inferred
Agent_Inference
business_model_type_secondary
30-day cloud termination would disrupt CRM, pharmacovigilance reporting, and medical affairs platforms; 60-90 day recovery estimated
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; internal systems use standard pharma SaaS (Veeva, SAP); Veeva CRM dependency is meaningful but substitutable within 12 months
Inferred
Agent_Inference
howey_test_risk_index
Not applicable; revenue from FDA-approved drug sales (XPOVIO/selinexor); no investment contract structure; Howey Test risk score negligible
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Moderate GDPR exposure via EU clinical trial and pharmacovigilance data; CCPA exposure limited; relies on Veeva and third-party processors for compliance
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; niche oncology/hematology market; no dominant market share position; XPOVIO competes in heavily contested multiple myeloma space
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FDA, CMS, HHS, HIPAA, EMA, OIG; Drug pricing legislation and approval delays directly compress revenue visibility.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~95% transactional (prescription drug sales); minimal recurring contract revenue; highly dependent on refill adherence and oncologist prescribing patterns
Inferred
Agent_Inference
monetization_vector
Per-prescription drug sales through specialty pharmacy and hospital channels; WAC ~$22,000/month for XPOVIO; patient assistance programs reduce net realized price
Inferred
Agent_Inference
pricing_architecture
WAC-based specialty drug pricing with significant gross-to-net discounts (~40-50%); vulnerable to Medicaid rebate pressure and IRA drug negotiation expansion
Inferred
Agent_Inference
pricing_power_rating
Moderate; orphan drug designation and limited competition in specific indications provide pricing support, but payer pushback and IRA risk cap upside; 6/10
Inferred
Agent_Inference
target_gross_margin_bracket
Gross margin ~65-72%; typical specialty pharma range; constrained by COGS from single-source manufacturing and royalty obligations
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider problem; prescription drugs require physician authorization and pharmacy dispensing; patient assistance programs create subsidy leakage ~15-20% of volume
Inferred
Agent_Inference
headcount_cost_structure
Sublinear growth potential; sales force largely built; incremental label expansions leverage existing MSL/sales infrastructure with <50% headcount scaling
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal cost of additional revenue is primarily COGS and royalties (~28-35%); SG&A leverage achievable at scale; R&D costs semi-fixed for pipeline
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; no franchise model; specialty pharma direct sales and specialty distributor network operates under FDA/DEA regulatory compliance framework
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC efficiency improves as brand recognition grows; however, oncology market saturation limits addressable prescriber pool to ~8,000-12,000 specialists
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; drug efficacy is independent of user base size; real-world evidence accumulation provides modest indirect data network benefit
Inferred
Agent_Inference
asset_efficiency_ratio
-180.8% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Tier 1 recession resistant; oncology treatments are non-discretionary; demand inelastic to economic cycles; insurance coverage more critical than consumer spending
Inferred
Agent_Inference
customer_segment_primary
Oncologists and hematologists (prescribers); top 20% of high-volume myeloma specialists likely represent ~60-70% of XPOVIO prescriptions
Inferred
Agent_Inference
customer_segment_secondary
Specialty pharmacies (Accredo, CVS Specialty) and hospital systems as distribution channel customers; top 3 specialty pharmacies represent >50% of dispensing volume
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "19-0000 Life, Physical, and Social Science Occupations", "21-0000 Community and Social Service Occupations", "23-0000 Legal Occupations", "29-0000 Healthcare Practitioners and Technical Occupations", "31-0000 Healthcare Support Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "51-0000 Production Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.32 (HIL — ~32% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
0.0% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0001503802
High
SEC-EDGAR
ticker
KPTI
High
SEC-EDGAR