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Checkmate Pharmaceuticals, Inc. (CMPI) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Checkmate Pharmaceuticals, Inc.

CIK: 1651431 Ticker: CMPI

Exhibit 99.1

Checkmate Pharmaceuticals Reports Third Quarter 2020 Financial Results and Provides an Update on Recent Progress

Presented new CMP-001 data in melanoma at SITC’s 35th Anniversary Annual Meeting

Cambridge, Mass., – November 13, 2020 (GLOBE NEWSWIRE)

– Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) (“Checkmate”), a clinical stage biotechnology company focused on developing its proprietary technology to harness the power of the immune system to combat cancer, today announced third quarter 2020 financial results and provided an update on recent progress.

“We are enthusiastic as we advance CMP-001 toward registration in melanoma and expand toward potential proof of concept in additional indications,” said Barry Labinger, Chief Executive Officer. “We remain on track to initiate key new clinical trials by late 2020/early 2021 as planned.”

Recent Progress

 

   

During SITC’s 35th Anniversary Annual Meeting, three new data presentations were given evaluating CMP-001, Checkmate’s advanced generation Toll-like receptor 9 (TLR9) agonist. These data continue to demonstrate the clinical activity of CMP-001 in combination with anti-PD-1 antibodies in patients with melanoma.

 

   

Checkmate is actively engaging with potential clinical sites and remains on track to initiate three Phase 2 trials combining CMP-001 with PD-1 blockade by late 2020/early 2021 for the treatment of:

 

  o

First-line head and neck cancer

 

  o

Anti-PD-1 refractory melanoma

 

  o

First-line metastatic or unresectable melanoma

Third Quarter 2020 Financial Results

 

   

Cash and cash equivalents: Cash and cash equivalents were $137.3 million as of September 30, 2020.

 

   

Research and development expenses (R&D): R&D expenses were $6.7 million for the quarter ended September 30, 2020, compared to $5.1 million for the quarter ended September 30, 2019. The increase was primarily attributable to increased headcount and clinical trial expenses in connection with increased patient enrollment in the ongoing clinical trials of CMP-001 and preparations for the initiation of planned additional clinical trials of CMP-001. These increases were partially offset by a decrease in contract manufacturing costs.

 

   

General and administration expenses (G&A): G&A expenses were $3.2 million for the quarter ended September 30, 2020, compared to $1.2 million for the quarter ended September 30, 2019. The increase was primarily attributable to increases in personnel and other operating expenses incurred in connection with Checkmate beginning to operate as a publicly-traded company.

 

   

Net loss and comprehensive loss: Net loss and comprehensive loss was $9.8 million for the quarter ended September 30, 2020, compared to $6.2 million for the quarter ended September 30, 2019.


The following information was filed by Checkmate Pharmaceuticals, Inc. (CMPI) on Friday, November 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Checkmate Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Condensed Statements Of Cash Flows
Condensed Statements Of Operations And Comprehensive Loss
Condensed Statements Of Redeemable Convertible Preferred Stock And Stockholders' Deficit
Condensed Statements Of Redeemable Convertible Preferred Stock And Stockholders' Deficit (Parenthetical)
Accrued Expenses
Accrued Expenses (Tables)
Accrued Expenses - Schedule Of Accrued Expenses (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Common Stock
Common Stock (Tables)
Common Stock - Summary Of Common Stock Available For Future Issuance (Detail)
Convertible Loan Notes
Convertible Loan Notes - Additional Information (Detail)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Additional Information (Details)
Fair Value Measurement - Schedule Of Aggregate Fair Value Of The Company's Series B Preferred Stock Tranche Right Liability (Detail)
Fair Value Measurement - Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis (Detail)
Fair Value Measurement - Schedule Of Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Nature Of Business And Basics Of Presentation
Nature Of Business And Basics Of Presentation - Additional Information (Detail)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Summary Of Basic And Diluted Net Loss Per Share Attributable To Common Stockholders (Detail)
Net Loss Per Share - Summary Of Potentially Dilutive Shares Excluded From The Calculation Of Diluted Net Loss (Detail)
Redeemable Convertible Preferred Stock
Redeemable Convertible Preferred Stock (Tables)
Redeemable Convertible Preferred Stock - Additional Information (Detail)
Redeemable Convertible Preferred Stock - Schedule Of Redeemable Convertible Preferred Stock (Detail)
Stock Based Compensation
Stock Based Compensation - (Tables)
Stock Based Compensation - Additional Information (Detail)
Stock Based Compensation - Schedule Of Fair Value Of Stock Option Awards On The Grant Date Using The Black-Scholes Option Valuation Model (Detail)
Stock Based Compensation - Summary Of Total Stock-Based Compensation Expense (Details)
Stock Based Compensation - Summary The Activity Under The Company's Stock Option Plan (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies -Additional Information (Detail)

Material Contracts, Statements, Certifications & more

Checkmate Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CMPI
CIK: 1651431
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-20-292303
Submitted to the SEC: Fri Nov 13 2020 7:31:19 AM EST
Accepted by the SEC: Fri Nov 13 2020
Period: Wednesday, September 30, 2020
Industry: Biological Products No Disgnostic Substances

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