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Checkmate Pharmaceuticals, Inc. (CMPI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Checkmate Pharmaceuticals, Inc.

CIK: 1651431 Ticker: CMPI

EXHIBIT 99.1

Checkmate Pharmaceuticals Announces Second Quarter 2021 Financial Results and Provides Business Update

Clinical trial programs for vidutolimod (CMP-001) in melanoma and head and neck cancer indications ongoing

Trial start-up activities to support non-melanoma skin cancer indications underway

Multiple clinical data readouts anticipated in 2022

CAMBRIDGE, Mass., August 12, 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 second quarter 2021 financial results and provided a business update.

“We remain excited about the prospects for vidutolimod in melanoma, based upon compelling clinical data to date, as well as our expansion into new tumor types. We are focused squarely on execution of our clinical trials to deliver upon these opportunities, and we anticipate multiple clinical data readouts in 2022,” said Barry Labinger, President and Chief Executive Officer of Checkmate.

Second Quarter Business Update

 

   

Advancing patient recruitment activities and enrollment across our ongoing clinical trials evaluating vidutolimod, including:

 

   

A Phase 2 trial of vidutolimod in combination with nivolumab in anti-PD-1 refractory advanced melanoma, supported by a clinical collaboration with Bristol Myers Squibb.

 

   

A randomized Phase 2/3 trial of vidutolimod in combination with nivolumab vs. nivolumab monotherapy in first-line metastatic or unresectable melanoma, also supported by the clinical collaboration with Bristol Myers Squibb.

 

   

A Phase 2 trial of vidutolimod in combination with pembrolizumab in recurrent or metastatic squamous cell head and neck cancer. Interim data readouts anticipated beginning 1H 2022 and maturing throughout 2022.

 

   

Ongoing start-up activities for the planned expansion of the development program for vidutolimod into cutaneous squamous cell carcinoma and Merkel cell carcinoma, supported by a clinical collaboration with Regeneron to evaluate the combination of vidutolimod and Libtayo® (cemiplimab).

Second Quarter 2021 Financial Results

 

   

Research and development expenses (R&D): R&D expenses for the three months ending June 30, 2021 were $14.9 million, compared to $6.5 million for the same period in the prior year. This increase reflected a milestone payment of $4.0 million in the second quarter of 2021 triggered by initiation of patient dosing in our refractory melanoma trial, as well as increases in personnel and operating expense for the planning and execution of additional clinical trials with vidutolimod.


The following information was filed by Checkmate Pharmaceuticals, Inc. (CMPI) on Thursday, August 12, 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' Equity (Deficit)
Condensed Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders' Equity (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 (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: 0001193125-21-244686
Submitted to the SEC: Thu Aug 12 2021 4:13:19 PM EST
Accepted by the SEC: Thu Aug 12 2021
Period: Wednesday, June 30, 2021
Industry: Biological Products No Disgnostic Substances

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