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Checkmate Pharmaceuticals, Inc. (CMPI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Checkmate Pharmaceuticals, Inc.

CIK: 1651431 Ticker: CMPI

EXHIBIT 99.1

Checkmate Pharmaceuticals Reports Full Year 2020 Financial Results and Provides Update on Recent Progress

CAMBRIDGE, Mass., March 29, 2021Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) (“Checkmate”), a clinical stage biopharmaceutical company focused on developing its proprietary technology to harness the power of the immune system to combat cancer, today announced full year 2020 financial results and provided an update on recent progress.

“We made strong progress in 2020, laying the groundwork to broaden and accelerate our CMP-001 clinical program in melanoma and other solid tumor indications,” said Barry Labinger, President and Chief Executive Officer of Checkmate.

Recent Progress

 

   

In December 2020, Checkmate announced a clinical collaboration with Bristol Myers Squibb to evaluate vidutolimod (formerly CMP-001) in combination with nivolumab. The companies will collaborate on two melanoma clinical trials.

 

   

In January 2021, Checkmate appointed Robert F. Dolski as Chief Financial Officer. Mr. Dolski brings more than 20 years of diversified management experience as a life sciences financial executive.

Vidutolimod (formerly CMP-001) Anticipated 2021 Milestones

 

   

Advance lead melanoma indication toward potential registration, supported by two Phase 2 trials. These trials will study vidutolimod in combination with nivolumab for the treatment of anti-PD-1 refractory melanoma and first-line metastatic or unresectable melanoma. We initiated patient dosing in the first-line melanoma trial in March 2021. Trial sites have been activated and patient screening is underway in the refractory melanoma study.

 

   

Expand into new indications, such as head and neck cancer, which is expected to be supported by a Phase 2 proof-of-concept trial. This trial will study vidutolimod in combination with pembrolizumab for the treatment of first-line head and neck cancer. Trial sites have been activated and patient screening is underway. Initial data from this trial are expected before the end of 2021.

Full Year 2020 Financial Results

 

   

Cash, cash equivalents and investments: Cash, cash equivalents and investments were $125.9 million as of December 31, 2020.

 

   

Research and development expenses (R&D): R&D Expenses for the full year 2020 were $26.7 million, compared to $24.3M for the prior year. The increase was primarily attributable to increased headcount and consulting costs in connection with preparing for the initiation of planned additional clinical trials of CMP-001. These increases were partially offset by a decrease in contract manufacturing costs.


The following information was filed by Checkmate Pharmaceuticals, Inc. (CMPI) on Monday, March 29, 2021 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 Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Condensed Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders' (Deficit)
Condensed Consolidated 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)
Equity
Equity - Additional Information (Detail)
Investments And Fair Value Measurement
Investments And Fair Value Measurement (Tables)
Investments And Fair Value Measurement - Summary Of Amortized Cost And Estimated Fair Value Of Investments By Contractual Maturity (Detail)
Investments And Fair Value Measurement - Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis (Detail)
Investments And Fair Value Measurement - Summary Of Amortized Cost And Estimated Fair Value Of Investment (Detail)
Nature Of Business
Nature Of Business - Additional Information (Detail)
Net Loss Per Share
Net Loss Per Share (Tables)
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 - Additional Information (Detail)
Stock-Based Compensation
Stock-Based Compensation - (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Summary Of Total Stock-Based Compensation Expense (Details)
Subsequent Events
Subsequent Events - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)

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: 0001193125-21-160618
Submitted to the SEC: Thu May 13 2021 4:50:21 PM EST
Accepted by the SEC: Thu May 13 2021
Period: Wednesday, March 31, 2021
Industry: Biological Products No Disgnostic Substances

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