July 3, 2019 / 5:01 PM / 4 months ago

U.S. FDA approves Karyopharm Therapeutics' blood cancer drug

July 3 (Reuters) - The U.S. Food and Drug Administration on Wednesday approved Karyopharm Therapeutics Inc's treatment for multiple myeloma, a type of blood cancer.

The drug, Xpovio, has been approved in combination with dexamethasone for patients who have received at least four prior therapies and who fail to respond to certain other treatments, the agency said.

Shares of the company rose 36% on Wednesday, before being halted for pending news. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shailesh Kuber)

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