Checkpoint Therapeutics down after reverse stock split plan

Checkpoint Therapeutics

05/12/2022 22:03

** Shares of Checkpoint Therapeutics Inc  CKPT.O  slide ~9%
to $0.48 after the bell 
    ** Co to effect a 1-for-10 reverse stock split of its issued
and outstanding common stock
    ** Reverse share split intended to improve marketability and
liquidity of co's common stock and to remain in compliance with
Nasdaq's continued listing requirements - CKPT 
    ** Co expects common stock to begin trading on a
split-adjusted basis on start of trading on Dec. 6
    ** Reverse stock split to reduce the number of outstanding
shares of common stock from ~93 mln to ~9.3 mln
    ** As of last close, stock down ~83% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))