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DewDiligence

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DewDiligence

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Re: DewDiligence post# 217772

Monday, 03/10/2025 9:42:17 AM

Monday, March 10, 2025 9:42:17 AM

Post# of 257470
India’s Sun Pharma acquires CKPT for $4.10/sh cash +CVR—a 66% premium to Friday’s close (excluding the CVR):

https://finance.yahoo.com/news/sun-pharma-acquire-checkpoint-therapeutics-020600240.html

The nominal deal value is $355M. This is a quasi-takeunder insofar as the deal price is essentially unchanged from where CKPT was trading six years ago, despite the fact that the company gained FDA approval for its PD-1 inhibitor in SCLC.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
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