Checkpoint Therapeutics CEO sells stock for $60,963

Published 04/04/2025, 00:30
Checkpoint Therapeutics CEO sells stock for $60,963

James F. Oliviero III, the CEO, President, and Director of Checkpoint Therapeutics , Inc. (NASDAQ:CKPT), a biotech company with a market capitalization of $338 million, sold 15,090 shares of common stock on April 2, 2025. The transaction comes as CKPT shares have surged 110% over the past year, trading near their 52-week high of $4.50. The shares were sold at a price of $4.04 each, totaling approximately $60,963. This transaction was conducted in connection with the vesting of restricted shares and was executed automatically to satisfy tax withholding obligations, as per the company’s corporate policies. Following this transaction, Oliviero holds 3,759,929 shares, including restricted stock that vests over various time periods. InvestingPro analysis suggests the stock is slightly overvalued at current levels, with additional insights revealing 8 more key factors that could impact CKPT’s valuation.

In other recent news, Checkpoint Therapeutics has garnered attention following the initiation of a Buy rating by Boral (OTC:BOALY) Capital. The firm has set a price target of $9.00 for the company, reflecting confidence in its lead drug, UNLOXCYT, which was approved in December. This drug, a PD-L1 inhibitor, is noted for its unique design that includes a functional Fc region, enhancing its ability to combat cancer cells. Boral Capital’s analysts highlighted the drug’s favorable adverse event profile, which could bolster its competitive position in the immuno-oncology market.

Additionally, Checkpoint Therapeutics announced a new executive employment agreement with Chief Financial Officer Garrett Gray, effective January 7, 2025. The agreement outlines an annual base salary of $350,000 and eligibility for performance-based bonuses up to 45% of his salary. The contract includes provisions for long-term incentive awards and detailed severance terms under various termination scenarios. This move underscores the company’s commitment to maintaining leadership stability. The details of this agreement have been filed with the SEC as part of the company’s recent 8-K filing.

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