Checkpoint Therapeutics Wins A New Bull As Company's 'Plan Is Quickly Coming Together'

Checkpoint Therapeutics Inc CKPT, a nano-cap therapeutics company that focuses on developing anti-cancer agents, has lost more than half of its value over the past few months but some analysts are bullish on the longer-term picture.

The Analyst

H.C. Wainwright's Joseph Joseph Pantginis, Ph.D initiated coverage of Checkpoint's stock with a Buy rating and $11 price target.

The Thesis

Checkpoint is a subsidiary of Fortress Biotech Inc FBIO and is working to create its own solely owned combination therapies against clinically and commercially validated cancer targets and provide pricing advantages to patients, Pantginis said in a note. The company has already developed a strategy to build its portfolio and its two lead assets, CK-301 and CK-101, are already considered validated drug targets with approved commercialized therapies.

"The selection of validated targets helps to reduce the development time and risk of the asset, in our belief," the analyst said.

Looking forward, Checkpoint has prioritized receiving approval from the U.S. Food and Drug Administration for its candidates for use as a monotherapy, the analyst said. A potential approval and commercialization could generate revenue which in turn would be used for funding to support its pipeline development.

As Checkpoint continues to release clinical data results, the company would be seen to be in a "position of strength with regard to business development" and could open the door to potential global partnerships, territorial agreements even bring a candidate forward on their own.

Price Action

Shares of Checkpoint have fallen 53 percent since June.

Related Links:

The Market In 5 Minutes: Bitcoin's New High, Strong Payroll Numbers, Brexit Update

23 Stocks Moving In Friday's Pre-Market Session

Posted In: cancerCancer TherapiesHC WainwrightAnalyst ColorPrice TargetInitiationAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.