Checkpoint Therapeutics, Inc. (CKPT) Bundle
A Brief History of Checkpoint Therapeutics, Inc. (CKPT)
Company Foundation and Purpose
Company Foundation and Purpose
Checkpoint Therapeutics, Inc. was founded in 2015 and is headquartered in New York City. The company focuses on the development of innovative therapies for cancer treatment, particularly in the area of checkpoint inhibitors.
Initial Public Offering (IPO)
Checkpoint Therapeutics went public on May 25, 2017, raising approximately $50 million through their initial public offering. The shares were priced at $8.00 per share.
Key Pipeline Products
The company's lead product candidates include:
- CK-301: A monoclonal antibody targeting PD-L1.
- CK-302: A small molecule inhibitor targeting FGFR2.
- CK-103: A clinical-stage compound for solid tumors.
Recent Financial Performance
As of the end of Q2 2023, Checkpoint Therapeutics reported cash, cash equivalents, and marketable securities of approximately $20.2 million. The total revenue for FY 2022 was $11.1 million, primarily from research collaborations.
Stock Performance
As of October 2023, Checkpoint Therapeutics’ stock (CKPT) is trading around $1.10 per share, reflecting a market capitalization of approximately $75 million.
Clinical Trials and Studies
Checkpoint has been involved in various clinical trials, including:
- Phase 1 clinical trials for CK-301, which commenced in 2020.
- Ongoing Phase 2 trials for CK-302, initiated in early 2021.
- Partnership with other pharmaceutical companies to expand clinical research.
Financial Data Summary
| Year | Total Revenue (in million $) | Net Loss (in million $) | Cash Position (in million $) |
|---|---|---|---|
| 2020 | 5.0 | 20.8 | 32.1 |
| 2021 | 8.5 | 25.7 | 28.3 |
| 2022 | 11.1 | 23.4 | 20.2 |
| 2023 (Q2) | 5.3 | 12.1 | 20.2 |
Strategic Partnerships
Checkpoint Therapeutics has formed strategic partnerships with various organizations, including:
- Collaboration with the National Cancer Institute (NCI) for research on CK-301.
- Agreements with biotechnology firms for complementary research efforts.
- Partnerships to enhance drug development and market access.
Future Outlook
As of October 2023, Checkpoint Therapeutics is targeting a submission for CK-301’s New Drug Application (NDA) by the end of 2024, along with continuing clinical trials for CK-302.
A Who Owns Checkpoint Therapeutics, Inc. (CKPT)
Market Overview
As of October 2023, Checkpoint Therapeutics, Inc. (CKPT) is traded on the NASDAQ under the ticker symbol CKPT. The company's market capitalization is approximately $85 million.
Major Shareholders
The ownership structure of Checkpoint Therapeutics comprises a diverse set of institutional and individual investors. The following table outlines the major shareholders and their respective ownership percentages:
| Shareholder Name | Ownership Percentage (%) | Number of Shares Held |
|---|---|---|
| BlackRock, Inc. | 8.12 | 1,216,890 |
| Vanguard Group, Inc. | 6.45 | 964,855 |
| FMR LLC (Fidelity) | 5.70 | 841,667 |
| Ra Pharmaceuticals, Inc. | 4.25 | 635,000 |
| Other Institutional Holders | 20.00 | 2,980,000 |
| Insider Holdings | 10.00 | 1,488,000 |
Insider Ownership
Insider ownership plays a significant role in the governance of Checkpoint Therapeutics. The following table represents key insiders and their holdings as of the last reported data:
| Insider Name | Title | Shares Owned |
|---|---|---|
| James A. Olivieri | CEO | 500,000 |
| Michael P. Kauffman | Director | 150,000 |
| Mark A. H. Tykocinski | Board Member | 100,000 |
| Susan E. B. Michaelson | Chief Financial Officer | 75,000 |
Recent Stock Performance
Checkpoint Therapeutics' stock has shown variability over the past year. The following statistical data illustrates the company's stock performance:
| Metric | Value |
|---|---|
| 52-Week High | $2.30 |
| 52-Week Low | $1.15 |
| Current Stock Price | $1.89 |
| Trading Volume (Average) | 150,000 shares |
Recent Financial Data
The financial performance of Checkpoint Therapeutics can be summarized with key metrics from the latest quarterly report:
| Financial Metric | Value (in millions) |
|---|---|
| Revenue | $5.2 |
| Operating Loss | ($3.9) |
| Net Loss | ($4.2) |
| Cash and Cash Equivalents | $12.5 |
Institutional Ownership Trends
The trend of institutional ownership in Checkpoint Therapeutics has shown fluctuations due to various market conditions. Recent data indicates:
| Period | Institutional Ownership (%) |
|---|---|
| Q1 2023 | 42.5 |
| Q2 2023 | 39.8 |
| Q3 2023 | 41.2 |
Checkpoint Therapeutics, Inc. (CKPT) Mission Statement
Company Overview
Checkpoint Therapeutics, Inc. (CKPT) is a clinical-stage biotechnology company focused on the development of innovative therapies for the treatment of cancer. The company's mission is to deliver novel, targeted therapies that improve patient outcomes in oncology.
Mission Statement
The mission of Checkpoint Therapeutics is to accelerate the discovery and development of innovative cancer therapies with the potential to transform the lives of patients suffering from a variety of tumors.
Product Pipeline
Checkpoint Therapeutics has a robust pipeline, which includes:
- CK-101: A novel anti-PD-1 monoclonal antibody
- CK-301: A PD-L1 inhibitor
- CK-102: A small molecule that targets cancer cell metabolism
| Product Name | Indication | Phase | Target |
|---|---|---|---|
| CK-101 | Non-Small Cell Lung Cancer | Phase 2 | PD-1 |
| CK-301 | Various Solid Tumors | Phase 1 | PD-L1 |
| CK-102 | Breast Cancer | Preclinical | Metabolism |
Financial Overview
As of the latest fiscal year, Checkpoint Therapeutics reported the following financial figures:
| Financial Metric | 2022 Amount (in $ millions) | 2023 Projection (in $ millions) |
|---|---|---|
| Revenue | 5.1 | 8.3 |
| R&D Expenses | 14.7 | 17.5 |
| Net Loss | (10.2) | (9.1) |
Strategic Goals
Checkpoint Therapeutics aims to achieve several strategic goals to fulfill its mission:
- Expand clinical trials for existing pipeline products
- Enhance partnerships with research institutions and pharmaceutical companies
- Optimize operational efficiencies to reduce costs
- Increase visibility in the oncology therapeutic landscape
Recent Partnerships
The company has established strategic collaborations to bolster its research capabilities:
| Partner Name | Purpose of Partnership | Date Established |
|---|---|---|
| ABC Biotech | Co-develop CK-301 | Q1 2023 |
| XYZ Research Institute | Clinical research collaboration | Q2 2023 |
Market Position
As of Q3 2023, Checkpoint Therapeutics holds a market capitalization of approximately $500 million. The company is positioned as a key player in the oncology sector, focusing on unmet medical needs in cancer treatment.
Future Outlook
Based on current data and projections, Checkpoint Therapeutics is expected to continue expanding its pipeline and leveraging its partnerships to drive growth in the oncology market.
How Checkpoint Therapeutics, Inc. (CKPT) Works
Overview of Checkpoint Therapeutics
Checkpoint Therapeutics, Inc. (CKPT) is a clinical-stage biopharmaceutical company focused on the development of innovative checkpoint inhibitors and antibody-drug conjugates for the treatment of cancer. The company primarily aims to address unmet medical needs in oncology through its targeted therapies.
Pipeline and Product Candidates
As of October 2023, Checkpoint Therapeutics has several product candidates in its pipeline:
- CK-301: A monoclonal antibody targeting PD-L1
- CK-302: An antibody-drug conjugate targeting guanylate-binding protein 1 (GBP1)
- CK-303: A small-molecule inhibitor of the T-cell immunoglobulin mucin-3 (TIM-3) pathway
Clinical Trials
Checkpoint Therapeutics is currently conducting multiple clinical trials:
- Phase 1/2 trial of CK-301 is evaluating safety and efficacy in solid tumors.
- Phase 1 trial of CK-302 is assessing the drug in patients with advanced solid tumors.
- Phase 1 trial of CK-303 focuses on patients with hematologic malignancies.
| Product Candidate | Stage of Development | Indication | Trial Status |
|---|---|---|---|
| CK-301 | Phase 1/2 | Solid Tumors | Active |
| CK-302 | Phase 1 | Advanced Solid Tumors | Active |
| CK-303 | Phase 1 | Hematologic Malignancies | Active |
Financial Overview
For the fiscal year ended December 31, 2022, Checkpoint Therapeutics reported the following financial data:
- Total Revenue: $10.5 million
- Net Loss: $40.2 million
- Research and Development Expenses: $25.0 million
- General and Administrative Expenses: $15.2 million
| Financial Metric | 2022 Amount |
|---|---|
| Total Revenue | $10.5 million |
| Net Loss | $40.2 million |
| Research and Development Expenses | $25.0 million |
| General and Administrative Expenses | $15.2 million |
Market Position and Share Performance
Checkpoint Therapeutics trades on the NASDAQ under the ticker symbol CKPT. As of October 2023, the company has a market capitalization of approximately $50 million. The stock's performance over the past year has shown significant volatility.
| Key Stock Metrics | Value |
|---|---|
| Market Capitalization | $50 million |
| 52-Week High | $3.50 |
| 52-Week Low | $0.75 |
| Average Volume | 300,000 shares |
Partnerships and Collaborations
Checkpoint Therapeutics has engaged in various partnerships to enhance its research capabilities and market reach:
- Collaboration with major pharmaceutical companies for research purposes.
- Partnerships with academic institutions for preclinical studies.
Regulatory Status
The company is in compliance with the regulatory requirements set forth by the FDA and has submitted new Investigational New Drug (IND) applications for its key candidates.
| Regulatory Milestone | Status |
|---|---|
| CK-301 IND Submission | Approved |
| CK-302 IND Submission | Approved |
| CK-303 IND Submission | Pending |
How Checkpoint Therapeutics, Inc. (CKPT) Makes Money
Revenue Streams
Revenue Streams
Checkpoint Therapeutics, Inc. primarily generates revenue through the following streams:
- Clinical trial funding
- Partnership agreements
- Product sales
- Grants and collaborative research funding
Clinical Trials and Development
As of Q3 2023, Checkpoint Therapeutics has been focusing on several investigational therapies, including:
- CK-301 (anti-PD-1 monoclonal antibody)
- CK-101 (a small molecule inhibitor)
- CK-302 (novel immuno-oncology therapy)
Investment in clinical trials can lead to milestone payments from potential partnerships. For instance, Checkpoint reported a collaboration with Sanofi for CK-301, with potential milestone payments of up to $1.4 billion.
Partnership Agreements
Checkpoint has established partnerships that enhance its revenue potential. The company has entered into licensing agreements, which provide upfront payments and royalties from sales. The deal with Novartis in 2022 included:
- Upfront payment: $50 million
- Royalty potential on global sales: up to 15%
Product Sales
Checkpoint Therapeutics currently markets no commercially available products. However, it aims to capitalize on its investigational products following successful clinical trials. The estimated market size for immuno-oncology products is projected to reach $100 billion by 2027.
Grants and Collaborative Research Funding
Checkpoint Therapeutics actively seeks grants from governmental and non-governmental organizations. In 2023, it received a grant of $5 million from the National Institutes of Health (NIH) to support the research of CK-301.
Financial Performance
| Financial Metric | Amount |
|---|---|
| Revenue Q3 2023 | $2.3 million |
| Net Loss Q3 2023 | ($8.9 million) |
| Cash and Cash Equivalents Q3 2023 | $40 million |
| R&D Expenses Q3 2023 | $7 million |
| Operating Expenses Q3 2023 | $9 million |
Stock Performance and Market Capitalization
As of October 2023, Checkpoint Therapeutics has a market capitalization of approximately $150 million. The stock price has shown volatility, with its 52-week range being between $1.00 and $4.50 per share.
Future Outlook
Looking ahead, Checkpoint Therapeutics is focused on advancing its pipeline products through clinical trials, with potential market entries anticipated in the next few years. Successful completion of Phase 3 trials could lead to significant revenue generation, with estimates suggesting peak sales of CK-301 could reach around $5 billion annually, depending on market dynamics.
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