Checkpoint jumps on positive data for skin cancer drug

Checkpoint Therapeutics

25/01/2022 13:46

** Shares of drug developer Checkpoint Therapeutics  CKPT.O 
jump ~14% to $2.5 premarket
    ** Co says its experimental antibody drug, cosibelimab, met
the main goal of inducing partial or complete response to
therapy in 47.4% of patients with a type of advanced skin cancer
called cutaneous squamous cell carcinoma, in a clinical trial
 urn:newsml:reuters.com:*:nGNX4LZgpq
    ** Based on the results, Checkpoint says it intends to
submit a marketing application to the U.S. FDA later this year,
to be followed by a similar application in Europe 
    ** The data checks the right boxes and provides validation
around cosibelimab's potential to capture share within a
competitive market for a class of cancer drugs called PD-L1 
inhibitors, brokerage Cantor Fitzgerald says
    ** CKPT's strategy to offer cosibelimab at a lower net price
upon approval also adds to its competitive profile - brokerage;
raises PT to $20 from $16
    ** CKPT shares up ~17.4% in 2021

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))