Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) Investor Notice: Lawsuit seeks to Recover Losses for Investors
A lawsuit was filed in the U.S. District Court for the Southern District of New York by an investor who bought shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) alleging that the company violated federal securities laws in relation to some allegedly false and misleading statements made between March 10, 2021, and December 15, 2023.
You have specific options, and for some investors, there are tight deadlines, if you bought a sizable quantity of shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) between March 10, 2021 and December 15, 2023, and/or if you bought any NASDAQ: CKPT shares before March 2021 and you still own any of those shares. Closing date: June 4, 2024. NASDAQ: Investors in CKPT should get in touch with the Shareholders Foundation by phone at +1(858) 779-1554 or via email at [email protected].
Checkpoint Therapeutics, Inc., a clinical-stage immunotherapy and targeted oncology firm established in Waltham, Massachusetts, is dedicated to the procurement, development, and commercialization of innovative medicines for patients with solid tumor tumors both domestically and abroad. The Company is dependent on outside contract manufacturers to carry out its preclinical, clinical, and research trials in addition to finishing its commercial and pre-commercial manufacturing.
Cosibelimab, a lead antibody product candidate from Checkpoint Therapeutics, is used to treat specific recurring or metastatic malignancies.
The FDA received a Biologics License Application (BLA) from Checkpoint Therapeutics, Inc. in January 2023, requesting 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 radiation therapy or curative surgery.
Checkpoint Therapeutics, Inc. revealed on December 18, 2023, that cosibelimab BLA has not received FDA approval as a treatment for patients with locally advanced or metastatic colorectal cancer (cSCC) who are not candidates for radiation therapy or curative surgery. Specifically, the company declared that the [FDA] has released a complete response letter (CRL) for cosibelimab [BLA] for the treatment of patients with locally advanced or metastatic [cSCC] who are not suitable for radiation therapy or curative surgery. The CRL cites findings from a multi-sponsor inspection of Checkpoint’s third-party [CMO] as approvability problems that need to be addressed in a resubmission, according to the Company.
On December 07, 2023, Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) saw a fall in share price from $36.2 to $1.36 on December 18, 2023.
In the complaint, the plaintiff claims that the defendants broke federal securities laws between March 10, 2021 and December 15, 2023, on behalf of buyers of common shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT). The plaintiff specifically alleges 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; as a result, there were one or more issues with the Company’s third-party contract manufacturing organization (CMO) for cosibelimab; all of which decreased the likelihood that the FDA would approve the Cosibelimab BLA in its current form; consequently, the manufacturing, regulatory, and commercial prospects of cosibelimab were exaggerated; as a result, the Company’s public statements were materially false and misleading at all.
Shareholders Foundation should be contacted by those who bought shares of Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) as they have certain alternatives.
Get in touch:
Foundation for Shareholders, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego+1-(858)[email protected] is the fax number.
Regarding:
As a professional portfolio monitoring and settlement claim filing service, The Shareholders Foundation, Inc. notifies investors of securities class actions, settlements, verdicts, and other legal developments pertaining to the stock and financial markets. It also conducts research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.
