Lawsuit filed for Investors who lost money with shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT)

An investor, who purchased shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT), filed a lawsuit over alleged violations of Federal Securities Laws by Checkpoint Therapeutics, Inc. in connection with certain allegedly false and misleading statements

Investors who purchased shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) have certain options and for certain investors are short and strict deadlines running. Deadline: June 4, 2024. NASDAQ: CKPT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Waltham, MA based Checkpoint Therapeutics, Inc., a clinical-stage immunotherapy and targeted oncology company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers in the United States and internationally. The Company relies on third-party contract manufacturers to, inter alia, conduct its preclinical and clinical studies and trials, as well as to complete commercial and pre-commercial manufacturing.

Checkpoint Therapeutics' lead antibody product candidate is cosibelimab for the treatment of selected recurrent or metastatic cancers.

In January 2023, Checkpoint Therapeutics, Inc. submitted a Biologics License Application ("BLA") to the U.S. Food and Drug Administration ("FDA") for the approval of cosibelimab as a treatment for patients with metastatic cutaneous squamous cell carcinoma ("cSCC") or locally advanced cSCC who are not candidates for curative surgery or radiation (the "cosibelimab BLA").

On December 18, 2023, Checkpoint Therapeutics, Inc. disclosed that the FDA had not approved the cosibelimab BLA as a treatment for patients with metastatic or locally advanced cSCC who are not candidates for curative surgery or radiation. In particular, the Company announced "that the [FDA] has issued a complete response letter ('CRL') for the cosibelimab [BLA] for the treatment of patients with metastatic or locally advanced [cSCC] who are not candidates for curative surgery or radiation." The Company stated that "[t]he CRL . . . cites findings that arose during a multi-sponsor inspection of Checkpoint's third-party [CMO] as approvability issues to address in a resubmission."

Shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) declined from $36.2 per share on December 07, 2023, to $1.36 per share on December 18, 2023.

The plaintiff claims that between March 10, 2021 and December 15, 2023, the defendants made false and/or misleading statements and/or failed to disclose that Checkpoint had overstated its oversight of, and/or its establishment of adequate manufacturing standards and controls over, its third-party contract manufacturers, that accordingly, there were one or more issues with the Company's third-party contract manufacturing organization ("CMO") for cosibelimab, that all the foregoing reduced the likelihood that the FDA would approve the cosibelimab BLA in its present form, that as a result, the manufacturing, regulatory, and commercial prospects of cosibelimab were overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.