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Earnings Recap: Checkpoint Therapeutics Inc. (NASDAQ: CKPT)

NEW YORK, August 9, 2019 – Shares of Checkpoint Therapeutics Inc. (NASDAQ: CKPT) jumped 9.69% to $2.49. The stock traded total volume of 36.88K shares lower than the average volume of 132.70K shares.

Checkpoint Therapeutics, Inc. (CKPT) reported net loss of $5.90M, or $0.18 per share, attributable to common stockholders for the first quarter of 2019, contrast to a net loss of $8.80M, or $0.35 per share, for the first quarter of 2018. The net loss for the first quarter of 2019 included $0.80M of non-cash stock expenses, contrast to $1.80M for the first quarter of 2018.

Financial Results:

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  • Cash Position: As of March 31, 2019, Checkpoint’s cash and cash equivalents totaled $14.10M.  The Company believes its cash and cash equivalents and projected licensing revenue will be sufficient to fund its anticipated operating cash requirements for at least 12 months.
  • R&D Expenses: Research and development expenses for the first quarter of 2019 were $4.60M, contrast to $6.90M for the first quarter of 2018, a decrease of $2.30M. Research and development expenses for the first quarter of 2019 included $0.20M of non-cash stock expenses, contrast to $0.70M for the first quarter of 2018. The Company anticipates research and development expenses throughout the rest of 2019 to continue to remain lower than the comparable periods in 2018.
  • G&A Expenses: General and administrative expenses for the first quarter of 2019 were $1.70M, contrast to $2.20M for the first quarter of 2018, a decrease of $0.50M. General and administrative expenses for the first quarter of 2019 included $0.60M of non-cash stock expenses, contrast to $1.10M for the first quarter of 2018.

CKPT has the market capitalization of $82.81M. The return on assets ratio of the Company was -134.00% while its return on investment ratio stands at -311.40%. Price to sales ratio was 23.66 while 10.50% of the stock was owned by institutional investors.

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