Checkpoint Therapeutics rises on $355 million Sun Pharma buyout deal

Checkpoint Therapeutics

10/03/2025 10:15

** Drug developer Checkpoint Therapeutics' CKPT.O shares rise 66% to $4.10 premarket

** India's Sun Pharmaceutical Industries SUN.NS will buy Checkpoint Therapeutics for $355 million, the companies said on Sunday

** Upfront cash payment of $4.10 per share, at a 66% premium to stock's last close

** CKPT's controlling arm Fortress Biotech FBIO.O would receive royalty payments based on future sales of co's skin cancer drug Unloxcyt during a specified term

** FBIO shares rise 12.3% to $1.73 before the bell

** The deal expected to be completed in Q2 2025

** CKPT has risen 13.8% in the last 12 months

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))