Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 001-38128 CHECKPOINT THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) ...

Exhibit 99.1 Checkpoint Therapeutics Reports First Quarter Financial Results and Recent Corporate Updates UNLOXCYT (cosibelimab-ipdl) approved by U.S. FDA in December 2024 as first and only anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma Special meeting of stockholders to vote on Merger to take place on May 28, 2025 Waltham, MA – May 13, 2025 – Checkpoint Therapeutics, Inc. ("Checkpoint") (Nasdaq: CKPT), a commercial-stage immunotherapy and targeted oncology company, today announced fina ...

Core Insights - Checkpoint Therapeutics has received FDA approval for UNLOXCYT™ (cosibelimab-ipdl), the first and only anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma (cSCC) [7] - A special meeting of stockholders is scheduled for May 28, 2025, to vote on a merger with Sun Pharmaceutical Industries, with a total transaction value of up to approximately $416 million [7] - Financial results for Q1 2025 show a net loss of $11.2 million, with cash and cash equivalents increasing to $33.0 million from $6.6 million at the end of 2024 [7][31] Recent Corporate Updates - UNLOXCYT is indicated for adults with metastatic or locally advanced cSCC who are not candidates for curative surgery or radiation [5] - The merger agreement with Sun Pharma was announced in March 2025, with Checkpoint continuing as a wholly owned subsidiary [7] - The definitive proxy statement for the merger was filed in April 2025 [7] Financial Results - Cash and cash equivalents as of March 31, 2025, totaled $33.0 million, an increase of $26.4 million from $6.6 million at December 31, 2024 [7] - Research and development expenses for Q1 2025 were $3.8 million, down from $8.5 million in Q1 2024 [7] - General and administrative expenses rose to $7.4 million in Q1 2025 from $2.5 million in Q1 2024 [7] - The net loss for Q1 2025 was $11.2 million, or $0.19 per share, compared to a net loss of $10.9 million, or $0.33 per share, in Q1 2024 [7][31]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to . Commission File Number 001-38128 CHECKPOINT THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 47-2568632 (State or Oth ...

Financial Performance - Checkpoint Therapeutics reported a net loss of $56.2 million, or $1.42 per share, for the year ended December 31, 2024, compared to a net loss of $51.8 million, or $3.17 per share, for the previous year[7]. - Total revenue for the year ended December 31, 2024, was $41,000, a decrease of 60% compared to $103,000 in 2023[30]. - The net loss for 2024 was $56,240,000, compared to a net loss of $51,847,000 in 2023, indicating an 8% increase in losses[30]. - Basic and diluted net loss per share for 2024 was $1.42, an improvement from $3.17 in 2023[30]. Expenses - Research and development expenses decreased to $36.2 million in 2024 from $43.6 million in 2023, with non-cash stock expenses rising to $12.9 million[7]. - General and administrative expenses increased significantly to $20.1 million in 2024 from $8.7 million in 2023, including $11.0 million of non-cash stock expenses[7]. - Research and development expenses for 2024 were $36,152,000, down 17% from $43,566,000 in 2023[30]. - General and administrative expenses increased significantly to $20,063,000 in 2024, compared to $8,685,000 in 2023, representing a 131% increase[30]. Cash and Assets - As of December 31, 2024, Checkpoint's cash and cash equivalents totaled $6.6 million, up from $4.9 million at the end of 2023, with an additional $38.1 million received from warrant exercises post-fiscal year[7]. - Total current assets increased to $7,471,000 in 2024 from $5,378,000 in 2023, reflecting a 39% growth[28]. Liabilities and Deficit - Total liabilities rose to $20,096,000 in 2024, up from $18,425,000 in 2023, marking a 9% increase[28]. - The accumulated deficit increased to $370,573,000 in 2024 from $314,333,000 in 2023, indicating an 18% rise[28]. Shareholder Information - Common shares outstanding increased to 53,640,422 in 2024 from 27,042,035 in 2023, showing a 98% increase[28]. - The company is facing uncertainties regarding the completion of a merger, which may affect future results and stockholder approval[25]. Product Developments - The FDA approved UNLOXCYT (cosibelimab-ipdl) for treating adults with metastatic or locally advanced cutaneous squamous cell carcinoma, marking it as the first PD-L1 blocking antibody approved for this indication[2]. - Longer-term data from the pivotal trial of cosibelimab showed improved objective response and complete response rates over time, presented at the ESMO Congress 2024[2]. - Immune-mediated adverse reactions occurred in 11% of patients treated with UNLOXCYT, with 5.8% experiencing Grade 2 reactions[23]. - Hypothyroidism was reported in 10% of patients receiving UNLOXCYT, with Grade 2 occurring in 5%[15]. - Checkpoint is also evaluating olafertinib, a third-generation EGFR inhibitor, for potential treatment of EGFR mutation-positive non-small cell lung cancer[22]. Merger Agreement - Checkpoint entered into a merger agreement with Sun Pharmaceutical Industries, with a total transaction value of up to approximately $416 million, expected to close in Q2 2025[2].

WALTHAM, Mass., March 28, 2025 (GLOBE NEWSWIRE) -- Checkpoint Therapeutics, Inc. ("Checkpoint") (NASDAQ:CKPT), a commercial-stage immunotherapy and targeted oncology company, today announced financial results for the fiscal year ended December 31, 2024, and recent corporate updates. Recent Corporate Updates: In March 2025, Checkpoint announced that it entered into an Agreement and Plan of Merger (the "Merger Agreement") with Sun Pharmaceutical Industries, Inc. ("Sun Pharma"), and a wholly owned subsidiary o ...

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 b ...

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Core Viewpoint - Sun Pharmaceutical Industries Limited has announced an agreement to acquire Checkpoint Therapeutics, which includes the FDA-approved anti-PD-L1 treatment UNLOXCYT™ for metastatic or locally advanced cutaneous squamous cell carcinoma (cSCC) [1][2][3] Company Overview - Sun Pharma is a leading specialty generics company with a strong presence in dermatology, ophthalmology, and onco-dermatology, accounting for over 18% of its sales [14] - Checkpoint is a commercial-stage immunotherapy and targeted oncology company focused on developing treatments for solid tumor cancers, with UNLOXCYT™ being its key FDA-approved product [2][16] Transaction Details - The acquisition involves an upfront cash payment of $4.10 per share, totaling up to $355 million, representing a 66% premium over Checkpoint's closing share price prior to the announcement [4][5] - Checkpoint stockholders will also receive a contingent value right (CVR) for up to an additional $0.70 per share based on future regulatory approvals [4][5] - The transaction is expected to close in the second calendar quarter of 2025, subject to customary closing conditions and stockholder approvals [9] Strategic Rationale - The acquisition aims to leverage Sun Pharma's global presence to enhance patient access to UNLOXCYT™, providing a new treatment option for cSCC patients [1][3] - The Checkpoint board, through a special committee, determined that the cash consideration and potential upside from the CVRs offered superior value compared to other strategic alternatives [8] Financial Performance - For the nine-month period ending September 2024, Checkpoint reported revenue of $0.04 million and a net loss of $27.3 million, with R&D expenses of $19.3 million [10]

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