B. Riley lowered the firm’s price target on Checkpoint Therapeutics to $4 from $8 and keeps a Buy rating on the shares after the company announced a CRL was issued for its cosibelimab BLA application primarily based on deficiencies found with third-party manufacturer Samsung Biologics as part of a multi-sponsor inspection. The firm, which sees a new potential PDUFA date in May/June or September/October, calls the December 18 intraday selloff “overdone.”
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Read More on CKPT:
- U.S. Food and Drug Administration Issues Complete Response Letter for Cosibelimab Solely Due to Inspection Findings at Third-Party Manufacturer
- Checkpoint says FDA issues CRL for cosibelimab due to third-party manufacturer
- Checkpoint Therapeutics announces USPTO issued patent covering cosibelimab
- Checkpoint Therapeutics Strengthens Intellectual Property Protection for Cosibelimab with New U.S. Patent Issuance
- Checkpoint Therapeutics files to sell 6.33M shares of common stock for holders
