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Tag: Checkpoint Therapeutics

  • Checkpoint (CKPT) Shares Skyrocket After A Takeover Agreement

    Checkpoint (CKPT) Shares Skyrocket After A Takeover Agreement

    The shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) saw a sharp increase in value after it was revealed that Sun Pharmaceutical Industries Ltd. would be purchasing it. CKPT shares were up 62.75% to $4.02 as of the last trade that was logged. The two businesses have reached a strategic deal that places Sun Pharma as Checkpoint’s new owner and expands its oncological dermatology portfolio.

    FDA Approves Purchase of UNLOXCYT Bolsters

    Checkpoint’s recent FDA clearance of UNLOXCYT (cosibelimab-ipdl) is a significant consideration in the purchase. Adults with locally advanced or metastatic cutaneous squamous cell carcinoma (cSCC) who are not candidates for radiation treatment or curative surgery are the target audience for this anti-PD-L1 immunotherapy. Through the acquisition, Sun Pharma hopes to increase UNLOXCYT’s accessibility for patients in need of cutting-edge cancer therapies by utilizing its worldwide market reach.

    Enhancing Worldwide Immunotherapy Access

    Checkpoint’s FDA-approved UNLOXCYT is the first and only anti-PD-L1 medicine designed especially for advanced colorectal cancer. The company hopes to accelerate the availability of this life-saving treatment in the US, Europe, and other foreign markets by partnering with Sun Pharma. The advancement of immunotherapy technologies will be greatly aided by both firms’ common mission to improve the lives of skin cancer sufferers.

    The Agreement’s Financial Terms

    Sun Pharma will purchase all of Checkpoint’s outstanding shares when the deal is completed. The $4.10 upfront cash payout to its shareholders represents a 66.0% premium over CKPT’s closing price on March 7, 2025. A non-transferable contingent value right (CVR) will also be given to shareholders, enabling them to obtain an additional $0.70 per share, subject to the approval of cosibelimab in particular European markets.

    Agreement on Royalties with Fortress Biotech

    Checkpoint, Sun Pharma, and Fortress Biotech, Inc., Checkpoint’s majority shareholder, have signed a royalty agreement as part of the transaction. Fortress will replace its prior royalty rights, which were set before CKPT’s establishment, with royalties based on future sales of cosibelimab for a certain period of time after the transaction is completed. This agreement ensures continued financial benefits for Fortress while supporting the commercial expansion of UNLOXCYT under Sun Pharma’s leadership.

  • Checkpoint Therapeutics, Inc. (CKPT) gained in the current, why?

    Checkpoint Therapeutics, Inc. (CKPT) gained in the current, why?

    Checkpoint Therapeutics, Inc. (CKPT) gained in the current market after announcing positive results for its trials. The stock of CKPT values at $2.40 in the current market, gaining more than 10% from the previously closed value. At the end of the last trading session, the stock closed at around $2.19. The stock volume traded in the last trading session was around 877.95K shares.

    The reason for the stock gain

    Checkpoint Therapeutics, Inc. (CKPT) announced positive results from the clinical trial in a press release. A restricted dose of 800 mg every two weeks of cosibelimab, Checkpoint Therapeutics’ anti-PD-L1 antibody, was provided to patients with metastatic cutaneous squamous cell carcinoma (cSCC) in a registration-enabling clinical trial.

    The research accomplished its fundamental aim, with cosibelimab showing a proven ORR of 47.4% (95 percent CI: 36.0, 59.1) in 78 metastatic cSCC patients using RECIST 1.1 criteria. The DOR was not yet attained (76 percent of ongoing responses). The study’s safety data for 201 advanced cancer patients treated in all cohorts remain consistent, with most treatment-emergent adverse events being grade 1 or 2. After submitting a BLA to the FDA for cosibelimab, Checkpoint plans to apply an MAA to the European Medicines Agency and other global submissions.

    As well as the global, randomized Phase 3 (CONTERNO) trial of cosibelimab in pairing with pemetrexed and platinum chemotherapy for patients with non-squamous non-small cell lung cancer, Checkpoint continues to enlist patients with locally advanced cSCC.

    Effect on the CKPT stock

    Investors are responding positively to the news. CKPT stock showed some positive results from the study. They expect it as a significant revenue source once it gets approval from the FDA. The company also focuses on research on other diseases and expects a good response.

    Conclusion

    CKPT announced some positive results from the study on patients with cSCC treated with anti-PD-L1 antibody. The study shows a 47% response rate, and the company is anticipating achieving better results in the future. They are also planning for a BLA this year.

  • Checkpoint Therapeutics Inc. (CKPT) Stock Rebounds in the After Hours

    Checkpoint Therapeutics Inc. (CKPT) stock was up by 6.85% at $3.12 in the after-hours at 20.36K shares on December 10. The stock has been under market corrections since it gained well on the company’s new trial announcement. CKPT had announced the initiation of its product’s trial for lung cancer patients on December 08.

    In the previous market session, the stock traded between $2.88 and $3.08, finally closing the session at $2.92 with a 1.02% loss. The stock recovered in the after-hours, as it entered green and increase by $0.20.

    Currently, the 76.77 million outstanding shares of CKPT trade at a market capitalization of $244.62 million.

    What is Happening with CKPT?

    On December 08, the company announced its Conterno study’s phase 3 trial for patients with lung cancer. This announcement led to a good gain in the stock’s price. Hence, it was soon followed by market corrections. The stock entered red, shedding its gains to profit booking. Currently, the stock seems to be recovering, as it entered green in the after-hours on Friday.

    CKPT stock has gained 8.96% in the past week while it has lost 26.08% last month. Moreover, the stock has lost 7.89% in the past three months and has gained 10.19% year to date.

    Conterno Phase 3 Trial

    As per December 08’s announcement, the company initiated its Conterno Phase 3 trial of cosibelimab in combination with pemetrexed and platinum chemotherapy. The trial was initiated for the first-line treatment of non-squamous non-small cell lung cancer (NSCLC) patients. Further, overall survival (OS) was declared as the primary endpoint for the trial. Further, the key secondary endpoints are progression-free survival, objective response rate, and safety.

    CKPT’s Financial Analysis

    On November 04, the company announced its third-quarter financial results for 2021. As per the Q3 of 2021, CKPT had R&D expenses of $9.4 million, against $2.5 million in the year-ago quarter.

    Moreover, $1.9 G&A expenses were reported in the third quarter of 2021, against $2.4 million in the Q3 of 2020.

    In addition, the net loss incurred by CKPT was $11.3 million in the third quarter of 2021, against $4.9 million in Q3 of 2020. Consequently, the net loss per share was $0.14 in Q3 of 2021, against $0.09 in Q3 of 2020.

    Finally, the company ended the quarter with cash and equivalents of $60.2 million.