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Checkpoint Therapeutics prices offering to fund product development

New York-based Checkpoint Therapeutics Inc. is looking to raise $20 million via the sale of 4.6 million shares at $4.35 apiece.

The Fortress Biotech Inc. majority-controlled subsidiary intends to use the funds to continue developing its product pipeline, which includes treatments for cancer.

National Securities Corp. is acting as sole book-running manager for the offering, which is expected to close March 12. H.C. Wainwright & Co is acting as lead manager while Lake Street Capital Markets LLC is acting as a qualified independent underwriter.

The biotechnology company is offering the underwriters a 45-day option to purchase an additional 690,000 shares.