Checkpoint Therapeutics ( (CKPT) ) has released its Q4 earnings. Here is a breakdown of the information Checkpoint Therapeutics presented to its investors.
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Checkpoint Therapeutics, Inc. is a commercial-stage company specializing in immunotherapy and targeted oncology, focusing on developing treatments for solid tumor cancers. The company recently announced its financial results for 2024 and provided updates on corporate developments.
Checkpoint Therapeutics reported a significant milestone with the FDA approval of UNLOXCYT (cosibelimab-ipdl), the first and only anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma. Additionally, the company entered into a merger agreement with Sun Pharmaceutical Industries, which is expected to close in the second quarter of 2025, pending customary approvals.
Financially, Checkpoint’s cash position improved to $6.6 million by the end of 2024, boosted by $38.1 million from warrant exercises post-year-end. The company saw a reduction in research and development expenses to $36.2 million, while general and administrative expenses increased to $20.1 million. Despite these changes, the net loss widened to $56.2 million, although the loss per share decreased to $1.42 from $3.17 in the previous year.
Looking ahead, Checkpoint Therapeutics is poised for growth with its recent FDA approval and the anticipated merger with Sun Pharma. The company remains focused on advancing its pipeline and capitalizing on strategic opportunities in the oncology sector.