Checkpoint chopped in half by cosibelimab CRL

19 December 2023

Shares in US biotech Checkpoint Therapeutics (Nasdaq: CKPT) slumped by nearly half on Monday.

The US biotech closed 45% lower after a day when the firm had announced a disappointing update on the skin cancer prospect cosibelimab, its lead product candidate.

"We believe we can address the feedback in a resubmission to enable marketing approval in 2024"It was revealed that the US Food and Drug Administration (FDA) has issued a complete response letter (CRL) for the cosibelimab biologic license application (BLA) for the treatment of patients with metastatic or locally-advanced cutaneous squamous cell carcinoma (cSCC) who are not candidates for curative surgery or radiation.

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