Checkpoint Therapeutics Commences Trading on the NASDAQ Capital Market
June 26 2017 - 8:00AM
Checkpoint Therapeutics, Inc. (“Checkpoint”) (NASDAQ:CKPT), a
Fortress Biotech (NASDAQ:FBIO) company focused on the acquisition,
development and commercialization of novel, non-chemotherapy,
immune-enhanced combination treatments for patients with solid
tumor cancers, today announced that its common stock will commence
trading on the NASDAQ Capital Market under the symbol “CKPT”
at the open of the U.S. financial markets today. Upon initiation of
trading on NASDAQ, the Company’s common stock will cease trading on
the OTCQX® Best Market.
"We are thrilled to achieve this significant milestone for
Checkpoint and our shareholders," said James F. Oliviero, President
and Chief Executive Officer of Checkpoint. “Joining NASDAQ will
provide increased liquidity of our securities, while raising
visibility in the investment community of Checkpoint and our
pipeline of clinical and pre-clinical immuno-oncology and targeted
anti-cancer development programs.”
About Checkpoint TherapeuticsCheckpoint
Therapeutics, Inc. (“Checkpoint”) is a clinical-stage,
immuno-oncology biopharmaceutical company focused on the
acquisition, development and commercialization of novel,
non-chemotherapy, immune-enhanced combination treatments for
patients with solid tumor cancers. Checkpoint’s broad pipeline
consists of fully-human, immuno-oncology and checkpoint inhibitor
antibodies licensed from the Dana-Farber Cancer Institute that
target programmed death-ligand 1 (“PD-L1”); glucocorticoid-induced
TNFR-related protein (“GITR”); and carbonic anhydrase IX (“CAIX”).
In addition, Checkpoint is developing three oral, small-molecule,
targeted anti-cancer agents that inhibit epidermal growth-factor
receptor (“EGFR”) mutations, the bromodomain and extra-terminal
(“BET”) protein BRD4, and poly (ADP-ribose) polymerase (“PARP”).
Checkpoint will also seek to expand its pipeline to create
additional proprietary combination therapies that leverage the
immune system and complementary mechanisms. Checkpoint is
headquartered in New York City. For more information, visit
www.checkpointtx.com. Checkpoint is a majority controlled
subsidiary of Fortress Biotech, Inc.
About Fortress BiotechFortress
Biotech, Inc. (“Fortress”) is a biopharmaceutical company dedicated
to acquiring, developing and commercializing novel pharmaceutical
and biotechnology products. Fortress develops and commercializes
products both within Fortress and through certain subsidiary
companies, including Checkpoint, also known as Fortress Companies.
In addition to its internal development programs, Fortress
leverages its biopharmaceutical business expertise and drug
development capabilities and provides funding and management
services to help the Fortress Companies achieve their goals.
Fortress and the Fortress Companies may seek licensing
arrangements, acquisitions, partnerships, joint ventures and/or
public and private financings to accelerate and provide additional
funding to support their research and development programs. For
more information, visit www.fortressbiotech.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to our
growth strategy and product development programs and any other
statements that are not historical facts. Forward-looking
statements are based on management’s current expectations and are
subject to risks and uncertainties that could negatively affect our
business, operating results, financial condition and stock price.
Factors that could cause actual results to differ materially from
those currently anticipated are: the risk that the listing on the
NASDAQ Capital Market will not provide the liquidity in its common
stock that is expected, making an investment in the stock less
attractive and limiting capital raising efforts in the public
markets; the risk that Checkpoint will not be able to advance its
research programs; risks related to the timing of starting and
completing clinical trials; risks inherent in research and
development activities; risks related to its growth strategy; its
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; uncertainties relating to
preclinical and clinical testing; its dependence on third-party
suppliers; its ability to attract, integrate and retain key
personnel; the early stage of products under development; its need
for substantial additional funds; government regulation; patent and
intellectual property matters; competition; as well as other risks
described in Checkpoint’s public filings and reports. Checkpoint
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
Contacts:
Jaclyn Jaffe
Checkpoint Therapeutics, Inc.
(781) 652-4500
ir@checkpointtx.com
Fortress Biotech Media Relations
Laura Bagby
6 Degrees
(312) 448-8098
lbagby@6degreespr.com
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