![]() This may induce further common stock dilutions in 2H 2021 or 1H 2022. 2021 is an important year for Checkmate with three expected phase 2 trials which will increase cash burn and reduce current cash. Risk discussionĬheckmate may be well-funded now, but this is no guarantee of therapeutic success. Profitability is not expected anytime soon with the earliest estimates in 2026 with an EPS target of $1.56/share. The earliest revenue estimates arise in 2024 with revenue estimated at $33.4M growing at a 5-year CAGR of 86% reaching $737M by 2027. Funding is still dominated by common stock issuances, but Checkmate should have sufficient funds to progress past early milestones expected in 2H 2021 and 1H 2022. Financial positionĬheckmate is in a reasonable financial position with ample funding for ~1-2 years at a 2020 cash burn of -$38M and an expected doubling in 2021, albeit still non-revenue producing as is the case with most early-stage biotechnology companies. Art has published 250+ scientific papers and owns >50 US patents for oligonucleotide technologies. After Pfizer, he co-founded and led, as CEO, RaNA Therapeutics until 2013 then serving as CSO of Sarepta until 2014. In 2008, Colet Pharma was acquired by Pfizer and Art became CSO of the Oligonucleotide Therapeutics Unit. ![]() Art also co-founded Coley Pharmaceuticals in 1997 clinically developing novel CpG oligonucleotides. This paved the way for a later discovery of TLR9 which when combined with synthetic CpG-A oligonucleotides leads to TLR9 stimulation for therapeutic purposes, a core of Checkmate's sole therapeutic. In the 1980s, he worked in the oligonucleotide field discovering, for the first time, immune-stimulatory CpG DNA in 1994. Barry has also held various other leadership roles at Human Genome Sciences, 3M Pharmaceuticals, and Immunex.įounder/Chief Scientific Officer Art Krieg, M.D., founded Checkmate in 2015 after gaining extensive experience in the sphere. At Emergent, he led the development and commercialization of oncology, immunology, and hematology products/candidates. Before Biothera, Barry served as President of the Biosciences Division at Emergent BioSolutions Inc., a developer of vaccines and antibody therapeutics for infectious diseases and opioid overdoses. ![]() Before Checkmate, Barry served as President and CEO of Biothera Pharmaceuticals, an immuno-oncology clinical-stage biotech focused on innate immune activation. 2018 by CEO, Barry Labinger, MBA, who brings 30+ years of pharma/biotech experience. ManagementĬheckmate has been led since Dec. ![]() Early results have shown a best objective response rate of 28% (n= 27/98), inclusive of post-regression responders and Checkmate is aiming for a 2023 BLA submission. It's being tested in multiple clinical trials for various indications including head and neck squamous cell carcinoma and melanoma being run primarily as a combination therapy with checkpoint inhibitors. Upon injection into the tumor, Vidutolimod functions to selectively activate the body's innate immune system thus altering the tumor's microenvironment and activating anti-tumor T-cells. Vidutolimod is Checkmate's only therapeutic and it acts as an advanced TLR9 agonist delivered as a virus-like particle utilizing a CpG-A oligonucleotide. Products/PipelineĬheckmate Pharmaceuticals currently has one therapeutic in multiple Phase 2 trials known as Vidutolimod ("CMP-001"). It shows great promise as will be introduced by the author alongside the following analysts, but it is not without its early-stage risk and investors should proceed with caution. Although small, Checkmate Pharmaceuticals has been aggressive in expanding its indication list and bringing together a unique immunology strategy. 2020, Checkmate has reached a modest market cap of $157M (April 2021) with only 22 employees. (NASDAQ: CMPI) is a small clinical-stage biotech focused on immune-system-based therapeutic development for combating cancer, particularly targeting TLR9 with virus-like delivery to alter the tumor microenvironment and activate anti-tumor T cells.įounded in 2015 with its IPO in Aug. ![]() Introduction: What is Checkmate Pharmaceuticals?Ĭheckmate Pharmaceuticals, Inc. Graphic Source: Checkmate Pharmaceuticals, Inc. ![]()
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