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DewDiligence

03/10/25 9:42 AM

#254756 RE: DewDiligence #217772

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.