Checkmate Pharmaceuticals, Inc. - CMPI STOCK NEWS

Checkmate Pharmaceuticals (CMPI) reported its Q1 2022 financial results, showing a net loss of $15.9 million, up from $14.1 million in Q1 2021. R&D expenses rose to $11.6 million from $10.4 million, and G&A costs increased to $4.2 million, driven largely by professional fees related to its acquisition by Regeneron for $10.50 per share, valuing Checkmate at $250 million. As of March 31, 2022, the company held $60.1 million in cash and equivalents. The merger is expected to close mid-2022, enhancing the development of its lead product, vidutolimod.

Regeneron Pharmaceuticals has announced a definitive agreement to acquire Checkmate Pharmaceuticals for approximately $250 million, offering $10.50 per share in cash. This acquisition aims to enhance Regeneron's immuno-oncology portfolio with vidutolimod, an innovative TLR9 agonist that has shown promising results in treating PD-1 refractory melanoma. The deal is expected to close in mid-2022, contingent on regulatory approvals and the tender of a majority of Checkmate's shares. This strategic move reflects Regeneron's commitment to advancing treatments for challenging cancers.

Regeneron Pharmaceuticals has announced an all-cash acquisition of Checkmate Pharmaceuticals for approximately $250 million, valuing Checkmate at $10.50 per share. This acquisition aims to enhance Regeneron's immuno-oncology portfolio, particularly through Checkmate's lead candidate, vidutolimod, a promising TLR9 agonist demonstrating clinical response in PD-1 refractory melanoma. The acquisition is expected to close in mid-2022, pending certain conditions.

Checkmate Pharmaceuticals (CMPI) announced biomarker signature data from two studies on vidutolimod, a virus-like particle designed to enhance immune response against cancer. The studies focused on patients with advanced melanoma and non-small cell lung cancer (NSCLC) who were refractory to anti-PD-(L)1 treatments. Key findings revealed a 35-gene COPII/Golgi core signature linked to antitumor activity, independent of traditional tumor characteristics. This suggests potential for biomarker-driven strategies in ongoing trials, as stated by CSO Art Krieg.

Checkmate Pharmaceuticals (Nasdaq: CMPI) appointed Alan Bash as President and CEO, enhancing its leadership team. The company is advancing its clinical trials for vidutolimod (CMP-001) in various cancer indications, with preliminary data expected in the second half of 2022. In 2021, Checkmate reported R&D expenses of $45.8 million, up from $26.7 million in 2020, while G&A expenses rose to $15.7 million from $10.2 million. The net loss increased to $61.4 million compared to $36.9 million in the prior year. Cash and investments totaled $70.9 million as of December 31, 2021.

Checkmate Pharmaceuticals (NASDAQ: CMPI) announced its participation in the 2022 American Association for Cancer Research (AACR) Annual Meeting in New Orleans from April 8-13, 2022. The company will present biomarker data via an e-poster on April 8, 2022, at 1:00pm ET. The presentation will focus on novel transcriptional signatures linked to antitumor activity in patients treated with vidutolimod for anti-PD-1-refractory melanoma and non-small cell lung cancer. The late-breaking research session will occur on April 12, 2022, from 9:00am to 12:30pm CT.

Checkmate Pharmaceuticals (Nasdaq: CMPI) announced the appointment of Alan Bash as President and CEO, effective March 1, 2022, succeeding interim CEO Alan Fuhrman. Bash, with over 20 years at Bristol Myers Squibb, will also join the Board of Directors. He brings significant experience in immuno-oncology, having led successful drug launches like Opdivo® and Yervoy®. The company’s lead candidate, vidutolimod (CMP-001), continues to progress in clinical studies aimed at treating refractory melanoma. This leadership change aims to enhance Checkmate's capabilities in cancer treatment.

Checkmate Pharmaceuticals (NASDAQ: CMPI) has appointed Jon Wigginton, M.D., to its Board of Directors, enhancing its leadership in cancer immunotherapy. Dr. Wigginton brings over 25 years of oncology experience, having held key roles at various biopharmaceutical companies, including Bristol Myers Squibb and Cullinan Oncology. His expertise will support the development of Checkmate's lead candidate, vidutolimod (CMP-001), a TLR9 agonist with promising clinical outcomes. This strategic addition is expected to bolster Checkmate's efforts in advancing innovative therapies for cancer treatment.

Checkmate Pharmaceuticals (NASDAQ: CMPI), a clinical stage biopharmaceutical company, announced that Alan Fuhrman, Interim CEO, will present at the H.C. Wainwright BioConnect Virtual Conference from January 10-13, 2022. The pre-recorded presentation will be available on-demand starting January 10 at 7:00 am ET. Additionally, Checkmate will conduct 1x1 investor meetings during the event. The company focuses on utilizing its proprietary technology, vidutolimod (CMP-001), to enhance immune responses against cancer.