24/7 Market News Snapshot 13 December, 2024 – Checkpoint Therapeutics, Inc. Common Stock (NASDAQ:CKPT)

December 13, 2024

DENVER, Colo., 13 December, 2024 (247marketnews.com) – (NASDAQ:CKPT) are discussed in this article.
Checkpoint Therapeutics, Inc. (CKPT) has been experiencing significant bullish momentum, with its stock price rising from an opening at $3.82 to a current trading price of $4.216, reflecting an approximate increase of 10.95%. This upward trend is indicative of positive investor sentiment, backed by a robust trading volume of 1.73 million shares. Such activity may suggest growing confidence in the company’s potential, possibly driven by favorable clinical developments and strategic market positioning. Investors are advised to keep an eye on resistance levels near $4.50 and support at $3.80 for making informed trading decisions, as sustained volume could indicate persistent interest and further growth opportunities for CKPT.

In a significant advancement for oncology, Checkpoint Therapeutics recently celebrated the FDA approval of UNLOXCYT™ (cosibelimab-ipdl), the first PD-L1 blocking antibody sanctioned for treating adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC, who are not candidates for curative surgery or radiation. The approved dosage regimen is set at 1,200 mg administered through intravenous infusion every three weeks. This innovative therapy aims to meet the urgent need for effective treatments in advanced cSCC, a condition often associated with poor prognoses, particularly for patients with other underlying health issues.

James Oliviero, the President and CEO of Checkpoint, remarked that the FDA approval represents a transformative milestone not only for the company but also for patients battling advanced cSCC. He underscored the importance of offering a differentiated treatment that targets PD-L1, marking a pivotal step in the quest to develop novel cancer therapies.

UNLOXCYT’s unique dual mechanisms of action and promising safety profile position it as a powerful new option for oncologists, especially significant given that cSCC is the second most common skin cancer, with over 1.8 million cases diagnosed annually. Dr. Emily Ruiz, a key figure in dermatologic oncology, praised the drug for its potential to deliver durable responses and improve patient outcomes in a critical therapeutic area. As Checkpoint prepares for the commercial launch of UNLOXCYT, it remains committed to advancing innovative treatments for patients facing solid tumor cancers.

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