04:14 AM EDT, 03/10/2025 (MT Newswires) -- Checkpoint Therapeutics ( CKPT ) has agreed to be acquired by India's Sun Pharmaceutical Industries for $4.10 per share in cash plus a non-transferable contingent value right, the companies said Sunday.

The contingent value right entitles the stockholder to receive up to an additional $0.70 in cash if metastatic cutaneous squamous cell carcinoma treatment cosibelimab is approved before deadlines in the European Union or in certain countries, the companies said.

Checkpoint, its controlling shareholder Fortress Biotech ( FBIO ) , and Sun Pharma have also entered into a royalty agreement under which Fortress will receive royalties from future sales of cosibelimab during a specified term.

The proposed transaction is expected to close in Q2, the companies said.