Checkpoint Therapeutics, Inc. (CKPT) gained in the current market after announcing positive results for its trials. The stock of CKPT values at $2.40 in the current market, gaining more than 10% from the previously closed value. At the end of the last trading session, the stock closed at around $2.19. The stock volume traded in the last trading session was around 877.95K shares.
The reason for the stock gain
Checkpoint Therapeutics, Inc. (CKPT) announced positive results from the clinical trial in a press release. A restricted dose of 800 mg every two weeks of cosibelimab, Checkpoint Therapeutics’ anti-PD-L1 antibody, was provided to patients with metastatic cutaneous squamous cell carcinoma (cSCC) in a registration-enabling clinical trial.
The research accomplished its fundamental aim, with cosibelimab showing a proven ORR of 47.4% (95 percent CI: 36.0, 59.1) in 78 metastatic cSCC patients using RECIST 1.1 criteria. The DOR was not yet attained (76 percent of ongoing responses). The study’s safety data for 201 advanced cancer patients treated in all cohorts remain consistent, with most treatment-emergent adverse events being grade 1 or 2. After submitting a BLA to the FDA for cosibelimab, Checkpoint plans to apply an MAA to the European Medicines Agency and other global submissions.
As well as the global, randomized Phase 3 (CONTERNO) trial of cosibelimab in pairing with pemetrexed and platinum chemotherapy for patients with non-squamous non-small cell lung cancer, Checkpoint continues to enlist patients with locally advanced cSCC.
Effect on the CKPT stock
Investors are responding positively to the news. CKPT stock showed some positive results from the study. They expect it as a significant revenue source once it gets approval from the FDA. The company also focuses on research on other diseases and expects a good response.
Conclusion
CKPT announced some positive results from the study on patients with cSCC treated with anti-PD-L1 antibody. The study shows a 47% response rate, and the company is anticipating achieving better results in the future. They are also planning for a BLA this year.
