Stock Monitor: Corvus Pharma Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 19, 2018 / Active-Investors.com has just released a free research report on Checkpoint Therapeutics, Inc. (NASDAQ: CKPT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CKPT as the Company's latest news hit the wire. On March 15, 2018, the Company announced that it will present preclinical data on its BET inhibitor CK-103 (TG-1601) in a poster session at the American Association for Cancer Research (AACR) Annual Meeting to be held between April 14 to April 18, 2018, in Chicago. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), which also belongs to the Healthcare sector as the Company Checkpoint Therapeutics. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Checkpoint Therapeutics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=CKPT
Checkpoint Reported Fourth Quarter and Full Year Financial Results
On March 15, 2018, the Company also shared financial results and recent corporate highlights for full year ended December 31, 2017.
For the year ended December 31, 2017, Checkpoint had related party's revenues of $1.73 million compared to $2.57 million in the same period of the previous year. The Company's General and Administrative (G&A) expenses hiked 21.31% to $5.42 million y-o-y and research and development (R&D) fell 5.85% to $19.08 million y-o-y in FY17. Checkpoint's net loss attributable to common stock holders was $22.68 million, or $1.00 per share, for FY17 compared to a net loss of $22.46 million, or $1.04 per share, in FY16.
The Company had cash and cash equivalents of $19.23 million as of December 31, 2017, compared to $35.09 million as on December 31, 2016, reflecting a decrease of 45.21%. On a non-GAAP basis, Checkpoint's pro-forma cash and cash equivalents as on December 31, 2017 (excluding first quarter 2018 operations) were approximately $40.1 million. This included $20.9 million of net proceeds from an underwritten public offering during March 2018.
Checkpoint achieved significant financial and pipeline-related milestones in 2017. Most notably, the Company's common stock began trading on The NASDAQ Capital Market in June 2017. In October 2017, it announced the dosing of the first patient in its Phase-1 trial of its anti-PD-L1 antibody, CK-301. Additionally, the FDA granted Orphan Drug Designation to the Company's third-generation EGFR inhibitor, CK-101, for the treatment of EGFR mutation-positive non-small cell lung cancer.
About CK-103 BET Inhibitor
CK-103 is an oral, inhibitor of the BET protein, BRD4. A bromodomain is an amino acid protein domain that recognizes acetylated-lysine. The binding of the drug prevents interaction between BET proteins and both acetylated histones and transcription factors. Therefore, BET proteins, such as BRD4, are considered potential therapeutic targets in cancer, as they may play a pivotal role in regulating the transcription of key regulators of cancer cell growth and survival, including the c-Myc oncogene. Checkpoint plans to develop CK-103 for the treatment of various advanced and metastatic solid tumor cancers, including those associated with elevated c-Myc expression.
About Checkpoint Therapeutics, Inc.
Checkpoint, a subsidiary of Fortress Biotech Company, is an immuno-oncology biopharmaceutical company focused on the acquisition, development, and commercialization of novel, non-chemotherapy, immune-enhanced combination treatments for patients with solid tumor cancers. The Company was formed in 2014 and is based in New York City, New York.
About Fortress Biotech Inc.
Established in 2006, Fortress Biotech is a biopharmaceutical company dedicated to acquiring, developing, and commercializing novel pharmaceutical and biotechnology products. The Company develops and commercializes products both within Fortress and through certain of its subsidiary companies, also known as Fortress Companies.
Stock Performance Snapshot
March 16, 2018 - At Friday's closing bell, Checkpoint Therapeutics' stock advanced 1.30%, ending the trading session at $4.68.
Volume traded for the day: 60.58 thousand shares.
Stock performance in the last month – up 7.83%; and year-to-date - up 20.62%
After last Friday's close, Checkpoint Therapeutics' market cap was at $117.80 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.2% at the end of the session.
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