Checkpoint Therapeutics rises on $355 million Sun Pharma buyout deal
ReutersMar 10, 2025 10:15 AM
Drug developer Checkpoint Therapeutics' CKPT.O shares rise 66% to $4.10 premarket
India's Sun Pharmaceutical Industries SUN.NS will buy Checkpoint Therapeutics for $355 million, the companies said on Sunday
Upfront cash payment of $4.10 per share, at a 66% premium to stock's last close
CKPT's controlling arm Fortress Biotech FBIO.O would receive royalty payments based on future sales of co's skin cancer drug Unloxcyt during a specified term
FBIO shares rise 12.3% to $1.73 before the bell
The deal expected to be completed in Q2 2025
CKPT has risen 13.8% in the last 12 months
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