On Monday, Checkpoint Therapeutics (NASDAQ:CKPT) received a positive outlook from Boral (OTC:BOALY) Capital as the firm began its coverage of the biopharmaceutical company.
The optimism from Boral Capital stems from the recent approval of Checkpoint Therapeutics' lead drug, UNLOXCYT, in December. UNLOXCYT, also known as cosibelimab, is a PD-L1 inhibitor that operates similarly to other drugs in its class by blocking the interaction between PD-L1 and PD-1.
This mechanism is crucial as it prevents tumors from evading the immune system. However, UNLOXCYT differentiates itself by retaining a functional Fc region, which contributes to antibody-dependent cellular cytotoxicity (ADCC). This feature is believed to enhance the immune system's ability to kill cancer cells.
The analysts highlighted that UNLOXCYT's design, which includes the functional Fc region, gives it an edge in the competitive field of immuno-oncology. Furthermore, the drug's favorable adverse event (AE) profile is seen as an advantage that could help it stand out in the marketplace.
Boral Capital's initiation of coverage with a Buy rating and a $9.00 price target reflects their confidence in UNLOXCYT's potential to compete effectively in the market. The firm's analysts underscored the drug's unique attributes and its position in the immuno-oncology space as key factors for their positive assessment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.