CheckPoint Therapeutics Inc (CKPT)

[vein]

Yeah true !!

[chainma1l]

$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?

[Monroe1]

Still alive. Good sign.

[vein]

Raising cash

[Monroe1]

Most have, I think so too. The month is not over though.

[vein]

The float is painfully low for sure . They are supposed to submit the BLA in January

[chainma1l]

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.

[vein]

You would think most of the losses are incurred!!!

[Monroe1]

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.

[vein]

We have a 30 million dollar cap now

[vein]

Come on now

[chainma1l]

$.71?

[vein]

Someone call the bottom please !!

[Monroe1]

unless they have something up the sleeve I am in agreement they will need cash and raise the AS.

[chainma1l]

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.

[vein]

I am hoping we have found a bottom soon

[vein]

Ha I’m just lookin to get my dam money back .

[chainma1l]

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%.

[vein]

You have any shares left chainma?

[chainma1l]

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.

[vein]

I hope so Monroe . I have a nice chunk and now I’m dealing with the rs. Hope we’re close to a bottom !

[Monroe1]

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.

[vein]

You a holder Monroe?

[vein]

This sucks

[Monroe1]

How right you were. RS announced 10:1

[vein]

I was hoping they would partner

[chainma1l]

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.

[vein]

You called the dam reverse split chainma

[vein]

And there is the reverse split !!

[vein]

Thanks chainma. We need a partner !!!

[chainma1l]

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.

[vein]

Hard to understand the undervalued price here ???

[vein]

Thanks for the reply chainma. I hoping for news to get this moving

[chainma1l]

Value is in the eye of the beholder and with the market dropping and Checkpoint not really having anything imminent and needing cash in the relatively near future, I think the shorts are going to pound it down to rock bottom. No catalysts to keep the price up.
It would be nice to get something huge, out of the blue, but that's unlikely, and everything is taking a beating. I may sell CKPT for tax offset and buy back in 2023. Without some good fortune, they are likely looking at a reverse split after they raise cash.
GLTY

[vein]

Why can’t this stock hold its dam value ??

[vein]

Great to hear from you . Does the dual indication give us leverage with a patent ??

[chainma1l]

Still here. I just think they are going to need more cash before something positive enough happens that will move the needle. That's not a bad thing, just a fact, and if they can't get a partner, it will be from direct dilution. Company seems to be moving forward with the positive results. Just kind of a waiting/timing game at this point.

[vein]

You still around chainma??

[vein]

That dual indication now included in the BLA should open some eyes !!

[vein]

I’m hoping we can get the party started here in the second half !!!

[vein]

Data that is .

[vein]

I would think the current feta we have would be enticing to a partner

[chainma1l]

Great idea. Do they have the personnel with the ability or contacts? Do they have the interest from anywhere? That will either dilute or cost them in other ways, however. Private placement would be better than outright selling shares, but the leverage is not on CKPT's side. Hopefully the PPS will get a bump and then they can worry about raising cash.

[vein]

Thoughts Chainma??

[vein]

I think they could partner for cash ??

[chainma1l]

It's possible that they are successful, but they still have to file and wait for approval, then try to sell it. If everything were to go perfectly, they could be selling in a year, but it's likely closer to two and they don't have the cash. Shorts know that and the price is getting driven into the ground. The amount of shares they will have to sell will all but ensure a reverse split before they can get to market. So many bios go through this. Based on the "bio world" in general, CKPT is very undervalued, but with the economy the way it sits and the FDA being a huge question mark I couldn't say what a "fair" value is. People invest for future results, not current or past. Based on my current feeling about the stock, I should probably short it, but I won't I think they will have success with their drugs EVENTUALLY, but I believe the price is currently being driven into the ground and there will be a reverse split before things head north. I would be happy to be wrong.

[vein]

I mean I can’t be the only one that thinks this is undervalued

[vein]

Come back chainma. Thoughts on our future based on our clinical results ??

[vein]

What is it going to take to move this !!!

[vein]

That second indication is the key to unlock more value