Karyopharm Therapeutics Inc. (KPTI) Form 8-K — Sep 11, 2026
Karyopharm Therapeutics skipped a roughly $15.8 million term-loan principal payment due September 10, 2026 and skipped its June 30 note interest, entering a Forbearance Agreement with its term lenders, holders of 100% of its 2028 and 2029 convertible notes, and its royalty investors. The forbearance runs only until October 15, 2026, does not waive the defaults, and imposes a 2.00% per-annum default-interest premium on all overdue amounts. The distressed debt stack totals roughly $366 million: $129.0 million of term loans, $15.6 million of 2028 Notes, $108.0 million of 2029 Notes, and $113.5 million of future royalty obligations.
Key figures
- Debt Amount
- 129000000
- Cash runway
- until October 15, 2026 absent new funding or strategic transactions
- Consent deadline
- March 15, 2027
- Forbearance fee usd
- 20.0 million
- Forbearance period end
- October 15, 2026
- Preferred shares issued
- 20000
- Default interest premium
- 2.00% per annum above applicable rate on overdue amounts
- Unpaid note interest usd
- 2.8 million (June 30, 2026 note interest unpaid)
- Term loan outstanding usd
- 129.0 million
- 2028 notes outstanding usd
- 15.6 million
- 2029 notes outstanding usd
- 108.0 million
- Minimum liquidity covenant usd
- 25.0 million (applies after October 10, 2026)
- Preferred conversion price usd
- 1.62
- Forbearance liquidity floor usd
- 10.0 million (termination trigger)
- Missed principal installment usd
- 15.8 million (term loan installment due September 10, 2026, not paid)
- Voting cap pending stockholder consent
- 19.99%
- Royalty agreement future obligations usd
- 113.5 million
- Preferred price and liquidation preference per share usd
- 1000
AI analysis
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