Checkpoint Therapeutics Announces It Has Entered Into A Definitive Agreement For The Immediate Exercise Of Warrants For $11.13M In Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Checkpoint Therapeutics (NASDAQ:CKPT) has entered into an agreement for the immediate exercise of certain outstanding warrants, which is expected to generate approximately $11.13 million in gross proceeds. The funds will be used for working capital and general corporate purposes, including the manufacturing of cosibelimab and certain pre-commercial activities.
October 02, 2023 | 4:58 pm
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Checkpoint Therapeutics' decision to exercise outstanding warrants could provide the company with necessary capital for its operations, potentially boosting investor confidence.
The exercise of warrants will provide Checkpoint Therapeutics with additional capital, which will be used for working capital and general corporate purposes. This could potentially boost the company's stock as it indicates a proactive approach to securing funding for its operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100