So did investors get a 'gift'?
Just heard about CKPT after the CRL came out. First comment is, resolution of the CRL could take longer than folks expect, just went thru it with CRMD and they got 2 CRLS due to the manufacturers QA issues (4 frigging years for the fda to agree to the 'fixes' and all the while the manufacturers were ALLOWED to continue operations under the fda umbrella, someone explain that one)
Anyways, so looking into CKPT, like the low share count, don't like the low cash on hand cause can only read it to mean, thanks to the delay, they will likely need to conduct a cash raising operation (ATM or flat out secondary). CRMD had to do this and it really cut their target price down.
So, just thought I would check in, see what folks are saying, and quite frankly, a bit surprised given its a cancer related treatment, given how the market is pricing so many bios as if they are selling gold, that CKPT was where it was on the share price..
But going to be studying their trial analysis, how good they see it working. And really tired of the fda holding up drug approvals for drugs that CAN/WOULD help save lives vs delaying the approval especially if it worked. Now I wouldn't be as 'upset' at the fda if as in this case, they tell the manufacturer, since you are bad enough for us not to approve a potential life saving drug, your operations are totally suspended.
Otherwise, to me, the fda has its priorities screwed up.. when it allows operations to continue.. but puts a life saving drug into limbo land.. again, CRMD has something going for it, hell of a lot better than the current standard of care, but was delayed 4 frigging years over QA issues.
Good luck
