Checkpoint Therapeutics Reports Second Quarter 2018 Financial Results and Recent Corporate Highlights

On August 7, 2018 Checkpoint Therapeutics, Inc. ("Checkpoint") (NASDAQ: CKPT), a clinical-stage immuno-oncology biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers, reported financial results and recent corporate highlights for the second quarter ended June 30, 2018 (Press release, Checkpoint Therapeutics, AUG 7, 2018, http://checkpointtx.com/press-releases/checkpoint-therapeutics-reports-second-quarter-2018-financial-results-and-recent-corporate-highlights/ [SID1234528783]).

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James F. Oliviero, President and Chief Executive Officer of Checkpoint, said, "In the second quarter of 2018, we continued to advance the Phase 1 clinical development of our lead therapies CK-101, a third-generation EGFR inhibitor, and CK-301, a fully human anti-PD-L1 antibody. We look forward to reporting topline safety and efficacy data from the initial CK-101 dose-expansion cohort in EGFR mutation-positive non-small cell lung cancer ("NSCLC") patients in the coming weeks, and from the initial CK-301 expansion cohort around year-end, with the goal of initiating registration trials for both molecules in 2019."

Financial Results:
• Cash Position: As of June 30, 2018, Checkpoint’s cash and cash equivalents totaled $28.3 million, compared to $19.2 million at December 31, 2017, an increase of $9.1 million yearto-date.

• R&D Expenses: Research and development expenses for the second quarters of 2018 and 2017 remained the same at $5.5 million each.

• G&A Expenses: General and administrative expenses for the second quarter of 2018 were $1.4 million, compared to $1.3 million for the second quarter of 2017, an increase of $0.1 million.

• Net Loss: Net loss attributable to common stockholders for the second quarter of 2018 was $6.6 million, or $0.23 per share, compared to a net loss of $6.4 million, or $0.28 per share, for the second quarter of 2017