** Shares of drug developer Checkpoint Therapeutics CKPT.O rise 8.9% to $4 in premarket trading
** The U.S. FDA, on Friday, approved company's drug for treatment of a type of cancer of the outer layer of the skin
** The drug to be marketed under the brand name Unloxcyt is the company's first drug that has received approval
** Unloxcyt is part of a class of drugs, PD-L1 antibody, which works by binding to a protein called programmed death-ligand 1 that helps the body's immune system in killing cancer cells
** Company said it is "currently developing a commercial launch plan" for the drug
** Up to last close, stock up 60.3% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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