Karyopharm Therapeutics is merging and has filed for Chapter 11 bankruptcy, which may change its business and stock value.

KPTI · Karyopharm Therapeutics Inc.

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The proposed merger could keep the reorganized business going, and other bidders may still offer for its assets. But the plan says current common and preferred shareholders receive no distribution. Karyopharm also expects its existing shares to have no value, making the shareholder outcome sharply unfavorable.