of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.
Any forward-looking statements set forth in this press release speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. This press release and prior releases are available at www.checkpointtx.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.
Company Contact:
Jaclyn Jaffe
(781) 652-4500
ir@checkpointtx.com
Investor Relations Contact:
Ashley R. Robinson
Managing Director, LifeSci Advisors, LLC
(617) 430-7577
arr@lifesciadvisors.com
Media Relations Contact:
Katie Kennedy
Gregory FCA
610-731-1045
checkpoint@gregoryfca.com
CHECKPOINT THERAPEUTICS, INC.
CONDENSED BALANCE SHEETS
(in thousands, except share and per share amounts)
(Unaudited)
September 30, 2024 December 31, 2023
-------------------- ---------------------
ASSETS
Current Assets:
Cash and cash equivalents $ 4,703 $ 4,928
Prepaid expenses and
other current assets 476 450
Total current assets 5,179 5,378
---------------- --------------
Total Assets $ 5,179 $ 5,378
---------------- --------------
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and
accrued expenses $ 15,635 $ 15,485
Accounts payable and
accrued expenses -
related party 2,009 2,815
Common stock warrant
liabilities 125 125
---------------- --------------
Total current
liabilities 17,769 18,425
---------------- --------------
Total Liabilities 17,769 18,425
---------------- --------------
Commitments and
Contingencies
Stockholders' Equity
(Deficit)
Common Stock ($0.0001 par
value), 175,000,000 and
80,000,000 shares authorized
as of September 30, 2024 and
December 31, 2023,
respectively
Class A common shares,
700,000 shares issued and
outstanding as of
September 30, 2024 and
December 31, 2023 - -
Common shares, 45,095,500
and 27,042,035 shares
issued and outstanding
as of September 30, 2024
and December 31, 2023,
respectively 5 3
Common stock issuable, 0 and
1,492,915 shares as of
September 30, 2024 and
December 31, 2023,
respectively - 3,419
Additional paid-in capital 329,078 297,864
Accumulated deficit (341,673) (314,333)
---------------- --------------
Total Stockholders' Equity
(Deficit) (12,590) (13,047)
---------------- --------------
Total Liabilities and
Stockholders' Equity
(Deficit) $ 5,179 $ 5,378
---------------- --------------
CHECKPOINT THERAPEUTICS, INC.
CONDENSED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
(Unaudited)
For the three months ended For the nine months ended
September 30, September 30,
-------------------------- ----------------------------
2024 2023 2024 2023
------------ ------------ ------------ --------------
Revenue - related
party $ - $ 31 $ 41 $ 97
Operating
expenses:
Research and
development 6,366 5,496 19,343 35,267
General and
administrative 3,358 2,236 8,043 6,809
---------- ---------- ---------- ----------
Total operating
expenses 9,724 7,732 27,386 42,076
---------- ---------- ---------- ----------
Loss from
operations (9,724) (7,701) (27,345) (41,979)
---------- ---------- ---------- ----------
Other income
(expense)
Interest income 2 7 9 81
Gain on common
stock warrant
liabilities - 1,970 - 9,179
Foreign
currency
exchange loss (3) - (4) -
---------- ---------- ---------- ----------
Total other income
(expense) (1) 1,977 5 9,260
---------- ---------- ---------- ----------
Net Loss $ (9,725) $ (5,724) $ (27,340) $ (32,719)
---------- ---------- ---------- ----------
Loss per Share:
Basic and diluted
net loss per
common share
outstanding $ (0.23) $ (0.29) $ (0.73) $ (2.07)
---------- ---------- ---------- ----------
Basic and diluted
weighted average
number of common
shares
outstanding 43,151,861 19,988,079 37,556,863 15,842,693
---------- ---------- ---------- -----
(MORE TO FOLLOW) Dow Jones Newswires
November 12, 2024 16:30 ET (21:30 GMT)
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