Karyopharm Therapeutics, the parent of cell-therapy maker Gamida Cell, said it plans to sell itself in a court-supervised bankruptcy process. The company also said the parent of Gamida Cell would be the lead bidder in an auction scenario, as Karyopharm looks to navigate financial distress after pursuing debt and restructuring steps. Karyopharm recently cut a forbearance deal to push off debt payments and now faces limited options as it moves toward bankruptcy. The company’s plan includes a merger-related pathway with another drugmaker in the blood disorder space, according to the report. For investors and competitors, the move underscores how capital-market pressure continues to reshape the commercial-stage biotech landscape, particularly for companies facing constrained balance sheets and pipeline uncertainty. The auction and merger process will determine what assets and programs survive and who inherits operational responsibility for ongoing or future development obligations.