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

Checkpoint Therapeutics, Inc.

(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)