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This happened to me on another ticker. Last month it RS'd and now up 45%.
Just goes to show a RS does not always spell doom. After all, it leads to new investors and sometimes to a higher exchange or platform like QB or Nasdaq/NYSE/Amex and later to increasing the AS and raising money for expansion.
Should have scooped up after the split ??
very few left. looking to re enter.
Thanks for the input Monroe ! You still own shares ???
Looks to me like a Director has converted half or so of their preferred into common stock which often is done before a run up on the pps of common. Look for events to be forth coming. IMO
Hey Monroe , what’s the form 4 mean that was presented after hours from fortress biotech ??
Checkpoint Therapeutics Submits Biologics License Application for Skin Cancer Therapy
MT NEWSWIRES
11:27 AM ET 01/04/2023
11:27 AM EST, 01/04/2023 (MT Newswires) -- Checkpoint Therapeutics (CKPT) said Wednesday it has submitted a biologics license application to the US Food and Drug Administration for the approval of cosibelimab to treat patients with metastatic cutaneous squamous cell carcinoma or locally advanced cSCC who are not candidates for curative surgery or radiation.
The application is backed by positive efficacy and safety data from its ongoing trial of cosibelimab, the company said.
Shares of Checkpoint Therapeutics (CKPT) rose more than 6% in recent trading activity.
I’m stating to wish I added after the reverse split !!
There is the BLA
wow, just got back home, nice gain!
Sure seems that way. I should have bought at the low.
I don't expect to be around in 3023, but I have some hope for gains in the next few months, though probably not enough to make up for my losses on shares I bought over the past two or three years. I added a very small number of shares today as it seems to be recovering from the crater following the reverse split announcement
Anyone think we can look forward to recovery here in 3023?
Maybe that's why they lowered the AS so substantially? Maybe that's why they just need the $7.5 million to get them by a little longer?
Might be something to get excited about
It seems the BLA is coming soon !!
Yeah true !!
$7.5 million isn't much money (in the grand scheme of things), but maybe they are just taking what they can get at this point. I'm definitely looking for an entry point. I'd prefer they go it alone, just to maximize returns for me, but more likely a partnership or buyout is in their future. Dirt cheap for one of the big biotechs. Maybe that's why they lowered the AS so substantially? Maybe that's why they just need the $7.5 million to get them by a little longer?
Still alive. Good sign.
Most have, I think so too. The month is not over though.
The float is painfully low for sure . They are supposed to submit the BLA in January
Hopefully that doesn't actually come to pass. They have cash for MAYBE two quarters, so they will make it to their BLA meeting before needing to raise cash. If that meeting is delayed for any reason, that could be bad. Fairly sizeable amount of dilution is coming. Say they can get $3/sh right now. They can only sell about 40.1 million shares. Currently, they would have to sell at a bigger discount, so maybe around the $1.5-$2 range is my guess. If the meeting goes well, they could be in the $50/sh range in very short order, so 5 million shares could net $250 million. They are still quite a ways off from revenue, however, so with the low float, it could be quite the rollercoaster.
You would think most of the losses are incurred!!!
Tax loss selling ... not seen the end of it yet. Sorry. However, IMO, don't give up the ship just yet unless you need to take the loss on taxes. By Feb/Mar this could be a whole new story. They picked a hell of a time to RS so unless they are really stupid, something else is cooking.
We have a 30 million dollar cap now
Someone call the bottom please !!
unless they have something up the sleeve I am in agreement they will need cash and raise the AS.
10+ bagger necessary at this point. That could be a while, but that's what I am wanting to time correctly. I've already been early to this party, so I'm sure I'll be late when it really starts to move.
I am hoping we have found a bottom soon
Ha I’m just lookin to get my dam money back .
Not currently. I sold at a slight loss shortly after buying my original position just because I didn't see a lot of interest and quickly discovered they weren't going to have any revenue for quite a while. I will be following and PLAN to buy shares at some point in the future. With my luck, I'll miss some significant news and the stock will shoot up 300% in one day. At that point, I'll figure I missed the run and won't buy. Then the stock will shoot up another 500%.
You have any shares left chainma?
PROBABLY a good investment at some point, but as usual, "when?" is the question.
They dropped from 86 million OS to 8.6 million and for some reason dropped the AS from 135 million to 50 million. Is this just trying to retain some optimism in the aftermath of the RS? They don't intend on going above 50 million AS? I'm pretty sure that will definitely happen at some point in the relatively near future. They have to raise cash.
I hope so Monroe . I have a nice chunk and now I’m dealing with the rs. Hope we’re close to a bottom !
Sold out except for a few to watch it.
I think this will end up surprising a lot people eventually. Just when is the question. At this level the Risk v. Reward is looking enticing after the smoke clears from the RS.
You a holder Monroe?
How right you were. RS announced 10:1
I was hoping they would partner
They have to raise money, somehow and they have no partners to help them financially. They can't borrow money from banks a this stage and PE would want a bigger piece of the company than the board is willing to give up (I'm assuming). Sucks, but that's the reality of small biotech. Obviously, if the stock would have blown up, they would have sold a couple million shares at $100, but that didn't happen, so they are doing the what they have to do, which is basically the exact opposite of that.
You called the dam reverse split chainma
And there is the reverse split !!
Thanks chainma. We need a partner !!!
I'm surprised the number of short shares isn't higher. Good potential, but they are still quite a ways away from commercialization and they are going to need to raise money in he next 6 months and with the low share price, they will have to dilute more to get the money they need to stay in business. Just seems like a perfect storm for shorts. Possible that CKPT gets acquired, but I doubt it.
I think the quote below is the entire reason for the drop in PPS, and again, I'm shocked there aren't more short shares in CKPT. I am long, but don't own much. They have to get something going, but they also need cash. Maybe they can get something with their licensing agreements, but I'd imagine that will be down the line as well.
In December 2021, we announced the initiation of our CONTERNO study, a multi-regional, open-label, multi-center, randomized Phase 3 trial of cosibelimab in combination with pemetrexed and platinum chemotherapy for the first-line treatment of patients with NSCLC. The February 2022 Russian invasion of Ukraine and the ensuing response has disrupted our ability to conduct clinical trials in Russia, Ukraine, and Belarus. We evaluated our ability to expand the number of CONTERNO study sites in our planned Latin American, South African and Asian Pacific countries, as well as add additional countries to conduct this clinical trial. However, the substantially longer enrollment period as a result of the conflict makes the CONTERNO study no longer viable. At the time of the conflict, only Russia was open for enrollment. We expect that the study will be wound down and closed over the coming months.
We have also entered into various collaboration agreements with TG Therapeutics, Inc. (“TGTX”), a related party, to develop and commercialize certain assets in connection with our licenses in the field of hematological malignancies, while we retain the right to develop and commercialize these assets in solid tumors.
Hard to understand the undervalued price here ???
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