Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: CKPT

Biopharma's Anti-PD-L1 Antibody Advances in Two Oncologic Indications
Research Report

Share on Stocktwits

Source:

Checkpoint Therapeutics' "cosibelimab represents a competitive asset on both efficacy and safety with an expected added advantage of lower net price," an H.C. Wainwright & Co. report noted.

Checkpoint Therapeutics Inc. (CKPT:NASDAQ) is in the news with two noteworthy developments. The CONTERNO Phase 3 study, evaluating its lead drug candidate cosibelimab in non-small cell lung cancer, launched, according to a Dec. 8 research note compiled by H.C. Wainwright & Co. analyst Joseph Pantginis. Also, a potential stock moving catalyst is about to happen any day now, in the release of topline data from the trial of cosibelimab in metastatic cutaneous squamous cell carcinoma.

The immuno-oncology and targeted oncology firm has a share price now of around $2.92, and H.C. Wainwright has a $17 per share target price on Checkpoint Therapeutics. The difference suggest a substantial potential return for investors.

Pantginis reiterated the key details of CONTERNO and noted its design is like that for Keytruda's KEYNOTE-189. For the open label and randomized CONTERNO trial, about 560 patients, with previously untreated stage IV non-small cell lung cancer without EGFR or ALK mutations, will be enrolled. Enrollment is expected to take about 15 months. Participants will be recruited from 75 sites, including ones in Russia, Ukraine, Georgia, Belarus, New Zealand, Thailand, Malaysia, South Africa, Brazil, and Peru.

CONTERNO patients will be randomized on a 2:1 basis to receive cosibelimab plus pemetrexed plus the investigator's choice of platinum chemotherapy (either carboplatin or cisplatin) or only pemetrexed plus platinum. Cosibelimab is an anti-PD-L1 antibody. The primary endpoint is overall survival. Secondary endpoints include safety, progression-free survival, and overall response rate.

Pantginis noted that "CONTERNO looks to launch off of the data previously announced from the non-small cell lung cancer cohort in the Phase 1, which compares favorably to the prior established data with Keytruda and Tecentriq in patients with high PD-L1 expression."

As for Checkpoint Therapeutics' upcoming data readout, it will happen for the registrational study of cosibelimab in squamous cell carcinoma by year-end.

Subsequently, next year, the immuno-oncology firm plans to file a biologics license application in the U.S. and a marketing authorization application in Europe, both for cosibelimab. H.C. Wainwright expects both to be approved, Pantginis indicated.

"We believe cosibelimab represents a competitive asset on both efficacy and safety with an expected added advantage of lower net price," the analyst wrote. "Importantly, we continue to project increasing levels of business development discussions around the asset as we see a continuing appetite for differentiated immuno-oncology drugs, and deals continue to be consummated."

H.C. Wainwright's rating on Checkpoint Therapeutics is Buy.

Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) do not own securities of Checkpoint Therapeutics Inc., a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Important Disclaimers for H.C. Wainwright & Co., Checkpoint Therapeutics Inc., Dec. 7, 2021

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules.
H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer.
I, Joseph Pantginis, Ph.D. and Emanuela Branchetti, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Checkpoint Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of November 30, 2021 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Checkpoint Therapeutics, Inc. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Checkpoint Therapeutics, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did receive compensation from Checkpoint Therapeutics, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. H.C. Wainwright & Co., LLC managed or co-managed a public offering of securities for Checkpoint Therapeutics, Inc. during the past 12 months. The Firm does not make a market in Checkpoint Therapeutics, Inc. as of the date of this research report.
The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request.
H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report.
H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report.
H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report.
The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice.
Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.




Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe