Checkpoint Therapeutics reports Q3 EPS (29c) with items, consensus (76c)

Reports Q3 revenue $31,000, consensus $10,000. Q3 net loss included $900,000 of non-cash stock expenses, compared to $800,000 for the Q3 of 2022. As of September 30 Checkpoint’s cash and cash equivalents totaled $1.8M, compared to $7.4M at June 30, and $12.1M at December 31, 2022. “The January 3, 2024, action date for our Biologics License Application, or BLA, for cosibelimab is fast-approaching, and we continue to work closely with the FDA in completing their review,” said James Oliviero, President and CEO of Checkpoint. “During the Q3, pivotal trial results for cosibelimab in metastatic cutaneous squamous cell carcinoma, or cSCC, were published in the peer-reviewed Journal for ImmunoTherapy of Cancer, which further supports the efficacy and safety of cosibelimab. We also reported longer-term data from our pivotal trials in both locally advanced and metastatic cSCC that demonstrate a deepening of response over time with substantially higher complete response rates. We firmly believe that cosibelimab’s clinical profile, which includes a unique dual mechanism of action and favorable safety profile, should position the product, upon its potential launch next year, as the preferred immunotherapy of oncologists, particularly for the large number of difficult-to-treat cSCC patients who continue to suffer poor outcomes with currently available treatments.”