NEW YORK, March 10, 2025 /PRNewswire/ -- Shareholder law firm Julie & Holleman LLP is investigating the proposed $4.10 per share sale of Checkpoint Therapeutics, Inc. (Nasdaq: CKPT) to Sun Pharmaceutical Industries, Inc. The firm is concerned about conflicts relating to Checkpoint's controlling shareholder, Fortress Biotech, Inc. (Nasdaq: FBIO), which has secured special benefits in the deal.
For a free consultation, or to learn more, contact partner W. Scott Holleman, Esq. by email at [email protected] or by telephone at (929) 415-1020. You may also visit: https://julieholleman.com/checkpoint-therapeutics-inc/
Checkpoint is pharmaceutical company focused on developing novel treatments for patients with solid tumor cancers. The company is controlled by its founder, Fortress Biotech.
Checkpoint recently received FDA approval for the use of cosibelimab-ipdl (branded as UNLOXCYT) for the treatment of adults with certain cancers. Checkpoint has not yet received European Union approval for cosibelimab. The U.S. market for cosibelimab is estimated to be worth over $1 billion annually, and the global market could be several times greater.
On March 9, 2023, Checkpoint announced the deal with Sun Pharma, under which shareholders will receive $4.10 per share in cash (or a total of $355 million). if cosibelimab receives EU approval within a prescribed time period, shareholders could also receive up to $0.70 per share through a "contingent value right," or CVR.
Julie & Holleman, a law firm that whose attorneys have helped recover hundreds of millions of dollars for shareholders, is concerned about both conflicts and price. In addition to what other shareholders will receive, Fortress Biotech will receive royalty payments related to eventual sales of cosibelimab. Accordingly, while Fortress and Sun Pharma stand to reap enormous benefits from cosibelimab at the expense of ordinary shareholders.
ABOUT THE FIRM
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit www.julieholleman.com. This notice may constitute attorney advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
SOURCE Julie & Holleman LLP
